CC WORKSESSION 12192002 - Laserfiche WebLink

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LETTER OF UNDERSTANDING • THIS AGREEMENT made and entered into as of this_day of • 2003,by and between ST. ANTHONY VILLAGE,a Minnesota public body corporate and politic hereinafter the "City" and AMCON CONSTRUCTION COMPANY,LLC,hereinafter "Developer". • WHEREAS, there exists parcels of property located at the intersection of Streets in the City of St. Anthony Village as described in • Exhibit"A" attached hereto(the "Subject Property") and WHEREAS, Developer wishes to explore the possibility of acquiring the • Subject Property to create a commercial site, and WHEREAS, the City wishes to explore the possibility of a redevelopment project which includes an analysis of fire operations, municipal liquor operations,and increasing the local tax base,and • WHEREAS, the Developer has requested the help of the City in investigating the possibility of redevelopment and obtaining title of such property,and NOW THEREFORE IT IS MUTUALLY AGREED AS FOLLOWS: • 1. From six months of the date of this Agreement, City will work solely with Developer to undertake redevelopment of the area. 2. City and staff agree to work with the Developer regarding zoning and planning issues. 3. Both parties will use their best efforts to attempt to bring to fruition the redevelopment contemplated. 4. Both parties are aware and acknowledge that many contingencies and unknowns presently exist,any one or more could make the project cost prohibitive, and that both parties are expending sums of money and time with full knowledge of the risks involved and that neither party shall be liable for any of the other party's expenses in • any event. 5. Developer shall provide the following items during the term of this agreement: Preliminary Concept Plan of Redevelopment Site,Preliminary Concept of Fire Station, Financing Alternatives,Project Schedules,Planning and Zoning Analysis, Detailed Elevations • and Material Lists,Marketing Plan/Market Study/Market Analysis