Laserfiche WebLink
City Council Regular Meeting — 04/25/OS <br />DRAFT Minutes - Page 25 <br />an independent audit review as part of the redevelopment <br />agreement. <br />Further discussion included clarification of environmental clean <br />up costs and assignments; changing use of property and higher <br />environmental upgrade requirements for a higher and better use; <br />and incentives for the developer to identify responsible parties to <br />assist financially in parcel clean up. <br />Mr. Casserly was directed, as suggested by City Attorney <br />Squires, to refine language to provide statutory application <br />identifying the City Council as the authority having the right to <br />decline to approve the minimum improvements if it appears to <br />the City Council that the total market value of the minimum <br />improvements will not be at least 90% of the total market value <br />projected in the redeveloper's pro forma. <br />Maschka moved, Schroeder seconded, adoption of Resolution <br />No. 10297 entitled, "A Resolution Approving a Term Sheet with <br />the Rottlund Company, Inc. for the Twin Lakes Redevelopment <br />Area; and Approving the Payment of Certain Consulting Fees;" <br />Authorizing preparation of a Redevelopment Contract with <br />Rottlund Companies for the Twin Lakes Phase I development <br />plan per the requirements outlined in Council Resolution No. <br />10285 approved March 14,2005; noting that tonight's consensus <br />comments and discussion be incorporated into the <br />Redevelopment Agreement; as further refined and amended <br />during tonight's discussion. <br />Councilmembe� Ihlan p�ovided a bench handout, and moved a <br />f�iendly amendment to the motion as follows, st�iking Pa�ag�aph <br />1.02 of the above-�efe�enced �esolution and substituting: <br />"This Te�m Sheet is not a binding cont�act. Listed te�ms <br />and conditions a�e fo� the pu�poses of discussion and <br />negotiation only. By app�oving this Te�m Sheet, the City <br />does not ag�ee to ente� into a Redevelopment Cont�act on <br />these o� any othe� te�ms. If the City and Rottlund fail to <br />�each ag�eement on a Redevelopment Cont�act, this Te�m <br />Sheet shall be null and void and c�eate no othe� legal <br />obligations between the pa�ties. " <br />