08/13/2001 Council Packet - Laserfiche WebLink

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• • • COUNCIL MINUTES JUNE 25, 2001 Council Member Dahl moved to table the 2001 Environmental Board Goals to the July 9, 2001, City Council meeting. Council Member O'Donnell seconded the motion. Motion carried unanimously. Consideration of Letter of Intent, Village Development, Mary Alice Divine — Economic Development Assistant Divine advised RMF Entities, Ltd and Duffy Development are interested in entering into an exclusive development contract with the City of Lino Lakes to develop Phase I of the Village. This phase comprises approximately 7.5 acres of City -owned land in the Village. This development team is interested in developing a mixed -use area consisting of retail, office and senior apartments. Staff has been working through a number of City and developer responsibilities that would be required to enter into an exclusive development arrangement. This letter of intent will be the basis for completing a development agreement. The key elements that would be included in a development agreement de: • An agreement to work cooperatively with other entitie plan in integrated development • Granting exclusive development rights for a p, iod a tim- subject to reasonable extensions if delays are out of the developers' control • Completion by the developer of market r • Completion by the City of publi the Comprehensive Plan, re with the YMCA roject budgets, concept plans and financing ents feasibility, inclusion of the Village plan into e second access into the site, finalization of plans • Cooperative efforts to fi v. wi win resolution to finalizing site assembly • Inclusion of design t ds for Village development • Cost sharing of preli 'nary sketches for Village marketing purposes • Responsibilities for public versus private consulting services This letter is not a final or binding contract, it is a combined effort of staff and the developers to narrow down the steps required to move forward with a development agreement. However, staff is recommending that the Council take action on this letter of intent to demonstrate that the City is willing to pursue this course for Phase I Village development. Economic Development Director Wessel added that it is important to move forward with this project. City staff needs time to prepare the development agreement for Council approval. Council Member Reinert moved to approve the Letter of Intent with RMF Entities and Duffy 17