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POLICY ITEM: G3 <br />6/11/03 <br />ITEM: Consideration of the Development Agreements for the SE Corner <br />Redevelopment Project: <br />FALCON HEIGHTS TOWN SQUARE LIMITED PARTNERSHIP <br />TOWN SQUARE SENIOR APARTMENTS LLC <br />TOWNHOMES AT TOWN SQUARE LLC <br />SUBMITTED BY: Heather Worthington, City Administrator <br />REVIEWED BY: Roger Knutson, City Attorney <br />Tom Scott, Campbell Knutson <br />Jim Prosser, Ehlers <br />Mark Ruff, Ehlers <br />EXPLANATION: <br />Summary: The council is being asked to review and approve the development agreements for <br />the SE Corner project. There are three agreements~ne for each component of the <br />• redevelopment: multi-family, senior housing, and townhomes. <br />These agreements set forth the conditions. of the development, including the financial stipulations <br />for the redevelopment, including the TIF provisions. <br />Mr. Prosser and Mr. Knutson will be availableto~ answer questions about the development <br />agreements. <br />ATTACHMENT: <br />• Development agreements <br />ACTION REQUESTED: <br />• Approval of development agreements for the Multi-family, Senior and Townhomes. <br />• <br />Multifamily Development Agreement <br />June 6, 2003 <br />