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City Council Reguiar Meeting — 06/20/05 <br />DRAFT Minutes - Page 31 <br />draft contrac� language from the bench. <br />Mayor Klausing asked City Manager B�ets and <br />Community Development Director Welsch if they had any <br />concerns that the propased contract didn't protect the <br />City's interests sufficiently; or if additional time was <br />needed for a comfort level priar ta proceeding. <br />City Manager Beets respond�d that, in numerous <br />consultatians between staff and city consu��ants, substantial <br />details had been warked ou�, various scenaarios considered <br />and evaluated, Cauncil and citizen comments taken inta <br />cansideratian, and a number of drafts circulated and <br />revised, reflecting the document provided tonight. Mr. <br />Beeis opined that th� end product was a worthy ane and <br />that he was willzng to stand by it tonight as repr�senting <br />best effarts ta protect and benefit the City. <br />Mr. Casserly noted that, these documents were negotiated <br />contracts, and in his 23 years in the business, wiih some <br />250 agreements, he was conf dent that this dacument <br />pres�nt�d a balanced agreement between parties, <br />representzng considerab�e negotiations, ereative <br />positioning, and protected the city and citizens of <br />Roseville. Mr. Casser�y noted the exhaustive clauses in <br />Article S related to events of default and remedi�s. <br />Schraeder mov�d, Maschka s�conded, adoption af <br />Resolution No. � 0317 entzt�ed, ""A Resolution Approving <br />a Contract for Private Redevelopment with Raseville Twin <br />Lakes, LLC far Qpportunity Areas 1-S and 8 of the Twin <br />Lak�s Redevelopment Area;" as atnended, by deletian of <br />language on page 18 af �he dxaft contract, in Section <br />4.5,a,2, "Determination of Land Prices," as indieated <br />below: <br />"(2) The cos� ot� any Parcel aequired after December <br />3�, 2001 by the Redevelopez- oar by any of its �quiiy <br />owners from an unrelated party in an ann's length <br />transaction shall b� the price paid for the Parcel, plus <br />reasonable carrying costs. Carrying costs are those <br />expenses directly related to the halding of the Parcel <br />