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LETTER OF UNDERSTANDING: FRAMEWORK FOR JOINT PARK <br />DEVELOPMENT - LAKE ELMO/OAKDALE <br />1. Park Dedication - 26 acres of 3M land in Lake Elmo will be dedicated as <br />parkland to the Cities of Lake Elmo and Oakdale for a "youth Mayfield <br />athletic complex". Oakdale will be credited back 10 acres dedication. The <br />site would be jointly owned by both cities, pursuant to Item 2. A <br />development plan could include baseball, softball, football and soccer, as well <br />as the necessary parking, building support services and picnic area(s). <br />2. Cost Sharing Arrangements at a 50 50 split. The initial cost for improving the <br />proposed park, currently estimated at one million dollars, will be shared <br />equally by both cities. However, Lake Elmo .s current share can be <br />temporarily mitigated to the population ratio as measured by each city's <br />population, beginning at no less than one-third (1/3) share today to a <br />maximum of one-half (1/2) share into the future. The initial ownership <br />percentage and usage allocation will be based on the upfront investment. <br />Thus, the ownership and usage percentage will change, based on Lake Elmo's <br />increased investment over time. The park will be maintained and costs split <br />based on a population/use formula. <br />3. Both cities agree to the creation of an interim committee structure as a "Task <br />Force" to develop a "Joint Powers Organizational Structure" for the purpose <br />of operation and control (governance). The "Task Force" will also define and <br />design the "Park PlarC, which will also include the process for shared use and <br />investment cost estimates. The proposed "Task Force" makeup is suggested <br />to include: 2 Council members, 2 staff members, and 1 Park Board member <br />from each city. <br />4. The recommendation from the Task Force will be articulated in the form of a <br />Joint Powers Agreement and a Park Plan for approval by the City Councils of <br />Oakdale and Lake Elmo, Both City Councils may approve or reject the <br />proposed Agreement and Plan as prepared by the joint "Task Force". <br />5. Once created, the Joint Powers Board will formulate policy for the usage <br />based on the aforementioned ownership percentage and remaining open <br />times of the fields and develop appropriate scheduling i.e., field usage <br />priorities, etc. The City of Oakdale, working with the City of Lake Elmo, shall <br />implement the Plan as defined by the Task Force, etc. <br />Page 1 <br />