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City Council Regular Meeting — U6/20/05 DRAFT Minutes - Page 32 and reduc�d by any revenues received on the Parcel. Only actual ca�h expenses are allowed. No amaunts for depreciation, amortization or other non-cash items are allowed. , . , „�;,,,...,+,.a +n_. �,.��;+ �-� +t�,.,.� �,�n �„ �t,,. . The costi of the parcel plus the net allowed carrying costs cannot exceed the fair znarket value of the praperty on the date of execuiion of this Agreemeni. The Redevel�per wi�l certify to the City that sueh party would be considered unrelated ta the Redevelaper or to any of its equity owners under applicable Code regulations." Rall Call [41] Ayes: Schroeder; Maschka and Klausing. Nays: Kough and �hlan. 6.c Twin Lakes Land Use Items [12.1] Consider a Proposed Roseville Twin Lakes, LLC Amendment to the N.�aster Sit� PIan for Twin Lakes Phase I Communi�y Development Director Dennis Welsch inirodt�ced the rec�uest of Rot�lund Companies, Master Develop�r for Twin Lakes, for a proposed 77.�4 acare redevelapment consisting a£ 28.86 acres of residential uses (737 units); 10.28 acres of office uses (with up to 275,735 square feet of office space); 29.69 acres of retail and restaurant uses (with up to 312,000 square feet o� cammercial space}; and approximately S.bl acr�s of new road right-of-way and p�nding/public area. Mr. Welsch advised that in order to compl�te the final land use phase of the prapased redevelopinent by Aottlund Companies, requested approvals were necessary, including an amendment to the Twin Lakes Master Site Plan; �acation of eertain public rights-of-way and easements; Final Subdiviszo� Plat; rezaning; and Final Development Plan (PUD). Twin Lakes Land Use I�ems Roseville Twin Lakes, LLC Amendment to the Master Site Plan for Twin Lakes Phase I