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• • AGENDA ITEM 6D STAFF ORIGINATOR Michael Grochala DATE: 02/28/05 TOPIC: Resolution No.05 -15 Approving YMCA Development Agreement VOTE REQUIRED: Simple majority BACKGROUND: In 1999 the city adopted a resolution endorsing financial support of $1.5 million for the construction of the YMCA in Lino Lakes. In addition, the city endorsed the use of 6.7 acres of city -owned land in the downtown Woods Edge project and the provision of infrastructure to the project. Providing this commitment enabled the YMCA to move forward in securing its own financing and begin fundraising for the remaining costs of construction. City staff, Kennedy & Graven, and Springsted, the city's legal and bond consultants, have been meeting with the YMCA to work out various aspects of the YMCA/City rights and responsibilities under the agreement. The development agreement is attached for your consideration. AGREEMENT The major elements of the development agreement include: YMCA Responsibilities • Build a facility of, approximately 50,000 sq. ft. • Adhere to the principles of the Town Center Design Standards. • Commit to remaining funds required to building the facility. • Provide Lino Lakes residents a waiver of joiners' fees for the first three months of operation, and additional "open membership" periods for the next five years. • Charge Lino Lakes residents monthly rates that are 10 percent below standard monthly rates for five years. • Provide a teen center available to all Lino Lakes resident youth. City of Lino Lakes • Commit $1.5 million in support of construction of the YMCA. • Provide 6.7 acres of land for construction of the YMCA. • Provide infrastructure (road, water and sewer) to the site.