2002-018 Council Resolution - Laserfiche WebLink

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of pedestrian networks to link neighborhoods to each other and connect them to parks, and the regional trail systems. 5. Public Assistance. In order to achieve the foregoing multi -use Development, it is anticipated that the definitive Development Agreement will contain provisions addressing a variety of forms of public assistance that may be necessary in order to accomplish the Development. Although no commitment is presently being made to provide any form of public assistance, examples of public assistance which may be ultimately be agreed upon may include, but are not limited to, the following: a. Site Assembly & Land Write -Down. The City may consider acquisition of some or all of the Development Property based upon terms and conditions contained in the Development contract. Acquisition may be through negotiated purchase, or, after a good faith effort to acquire the site, condemnation or a combination. Acquired properties may be conveyed to the Developer at a write-down, subject to all of the applicable provisions of law. The write-down price may take into consideration any pending or levied special assessments. The difference between the City's assembly costs and the sale price may be paid to the Developer out of Project tax increment. b. Grant. The City, as well as other outside sources such as the Metropolitan Council may be requested to provide grants and/or loans in the form of cash to permit the Developer to redevelop the Project. The City will cooperate with and support the Developer in any efforts to secure grants or similar funding. The use of any grant(s) and the amount of such grant(s) will not be known until the exact scope and anticipated use of the Project are finally determined and established, and the availability of certain types of grants, and a definitive budget for the Development Project are established. The parties will need to agree on how to address these matters prior to execution of any Development contract. c. Tax Increment Financing. The City, acting as the Economic Development Authority, may be asked to establish a tax increment financing district to support the Development Project; and agrees to give due consideration to any such request. d. Debt. The City may be asked to provide certain loans to the Developer to support the Development Project. Any agreement by the City to make such loans will be subject to the absolute discretion of the City and will also depend upon a clearly available source of funding, and appropriate security. 6. Developer's Proposed Use, Minimum Improvements. The minimum improvements will be made pursuant to plans, which are acceptable to and approved by the City as part of the final Development agreement. The minimum improvements will be substantially consistent with the Lino Lakes Town Center Design & Development Guidelines (Draft dated 10/9/00), incorporated herein by reference. 7. Ownership. It is expected that the final Development proposal will provide that the retail, office, and the rental housing portion of the Project (will be owned by the Developer or its assignees, and that certain condominiums, townhomes, or single family home sites will be sold by the Developer or its assignee to others. 8. Contemplated Development Schedule. The contemplated Development Schedule is as follows: (Schedule assumes that portions may be constructed in phases and various steps within the Development schedule may overlap or run concurrent) STATUS START -END STEP 1 Public Process & Support For Village Project Complete 10/00 STEP 2 Community Vision Incomplete 3/1/02-5/30/02 Imagery 2