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D HORSEY <br /> MEMORANDUM <br /> TO: Michael Morrison, City Manager <br /> FROM: Jerome P. Gilligan <br /> Jay R. Lindgren <br /> DATE: October 27, 2003 <br /> RE: Northwest Quadrant Redevelopment— Summary of Redevelopment <br /> Agreement <br /> 1. Development Phases <br /> The Redevelopment Agreement ("Agreement") is by and among the City, the HRA and Apache <br /> Development, LLC (the "Developer"), which is a single purpose entity formed by Pratt Ordway <br /> LLC. The Developer will acquire the Development Property (as described in the table below). <br /> With consent of the HRA's Executive Director, the Developer will assign its rights under the <br /> Agreement to a Commercial Developer, a For Sale Housing Developer and a Rental Housing <br /> Developer. <br /> The Development is divided into phases as follows: <br /> a. Commercial Development of approximately 232,000 square feet of commercial <br /> and retail facilities. <br /> b. Phase I For Sale Housing Development of 128 units of Phase IA stacked flats and <br /> 128 units of Phase IB stacked flats <br /> C. Phase 11 For Sale Housing <br /> i. Phase IIA—at least 80 units of senior housing. <br /> ii. Phase UB—26 townhouses. <br /> iii. Phase IIC—80 units of for sale housing. <br /> d. Rental Housing Development of approximately 220 units of rental housing. <br /> -n ling =IEIB— as <br /> l <br /> Apache Plaza 31-30-23-34-001 Housing <br /> sing <br /> Vacant New Market Site 31-30-23-33-0002 I—Rental ousin <br /> Taco Bell 31-30-23-34-0018 T--Commercial <br /> SAV H/Tires Plus 31-30-23-34-0017 I—Commercial <br /> 31-30-23-34-0014 I—Commercial <br /> 2 Vacant HRA Parcels 31-30-23-34-0019 <br /> DORSEY&WHITNEY LLP <br />