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3.3 Parks & Trails - <br />a. Public Park — The developer is responsible for the development of a public park <br />on the north side of the site as outlined in their proposal. Improvements over and <br />above what was provided in the proposal will be the responsibility of the City. <br />b. Trails - The developer will provide a system of trails and trail connections <br />throughout the development. A pathway will be provided around the improved <br />pond with cost sharing between the City and the developer. <br />3. 4 Site Plan Review — Every attempt will be made by the developer and City to ensure <br />land use approvals by March 2003 so that construction can commence in April of <br />2003. <br />3.5 Financial Responsibilities — The developer will provide assurances for financing the <br />purchase and development of the Arona site as approved. The developer will <br />construct and dedicate a 2-acre park in lieu of paying park dedication fees. <br />3.6 Tax Increment District — The Arona site is within Tax Increment District #12. '1'he <br />developer has not and does not intend to request assistance with the required <br />improvements outlined in the MOU. However, the City may want to consider using <br />the TIF funds collected to help pay for the required infrastructure improvements such <br />as e�tension of Terrace Drive and pond improvements. The costs associated with <br />these improvements ha�e not been determined to date. Engineering staff is in the <br />process of developing plans for the road and pond improvements at this time. <br />However, the MOU provides an understanding between the City and the Developer <br />that those proceeds collected from TIF would be used for eligible public <br />improvements only. <br />4.0 SUGGESTED COUNCIL ACTION <br />4.1 By motion, accept the attached Memorandum of Understanding (MOI�, with any <br />modifications, between the City of Roseville and United Properties in connection with <br />the development of properiy located at 2800 Arona Street and surrounding <br />infrastructure. <br />4. 2 Direct staff to follow through on the approved MOU and bring back a purchase and <br />redevelopment contract between the City of Roseville and United Properties upon <br />completion of land use process. <br />Attachments: Draft Memorandum of Understanding <br />Prepared by: Dennis Welsch (490-2232) and Cathy Bennett (490-2241) <br />\\CommDev�Planning Files13200-3249�3243_Arona Dev 2000�Development AgreementutCA MOU Acceptance 1216o2.doc <br />PF3243 — RCA — Arona Site MOU (121602) Page 2 of 2 <br />