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Policy HS <br />ADDENDUM <br />• 10/8/03 <br />ITEM: Approval of Stipulation Settlement with Pizza Hut <br />SUBMITTED BY: Tom Scott, Campbell Knutson <br />REVIEWED BY: Heather Worthington, City Administrator <br />EXPLANATION: <br />Summary: Late today, the attorneys representing Pizza Hut, Sherman Associates, and the city's <br />law firm, Campbell Knutson, completed the stipulation settlement for Pizza Hut. Sherman <br />Associates, Inc., and Sky Ventures, LLC (dba Pizza Hut) have signed a letter of understanding <br />outlining the conditions in the settlement agreement. Pizza Hut has agreed to relocate to the new <br />Multi-Family building to be built on the corner of Snelling and Larpenteur Avenues as part of the <br />Town Square redevelopment. <br />The city must approve this agreement before the parties can sign it and complete the deal. <br />ATTACHMENT: <br />• Settlement Agreement draft <br />• ACTION REQUESTED: <br />Approval of settlement agreement for Sky Ventures, LLC and Sherman Associates, Inc. for <br />the relocation of the Pizza Hut restaurant on the SE Corner of Snelling and Larpenteur <br />Avenues <br />• <br />108339 <br />