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-5 OORsBy. 31 DORSEY & WHITNEY L..P MEMORANDUM TO: Mayor and Members of the City Council Michael Morrison, City Manager FROM: Jay R. Lindgren DATE: September 6, 2005 RE: Salo Park Maintenance and Operation The Redevelopment Agreement for Silver Lake Village required the development team to provide certain enhancements to the storm water ponds required for the redevelopment. These Ponding Site Improvements are identified in the Redevelopment Agreement and the corresponding Construction Management Agreement. They are currently under construction. In return, the public is to receive the right to use the improvements in what is now known as Salo Park. This public-private partnership requires a method to create the public rights and to allow for ongoing operation and maintenance. Attached is a draft of an Assignment, Assumption, Easement, Park Management and Maintenance Agreement ("Agreement") The Agreement provides that: 0 The City has a right to use the subject property for park purposes. 0 The development team, through Apache Park, LLC, will manage and maintain the improvements. Reservations for use of facilities will be taken by Apache Park, t_I_C and City permitting requirements must be met. 0 Specific rules for Salo Park are established in Exhibit B to the Agreement. 0 In exchange for public use of the facilities, the City will, as outlined in the Redevelopment Agreement, pay the annual maintenance costs of the Ponding Site Improvements. Apache Park must provide by July 1 of each year an estimate of the maintenance costs for the following calendar year. The establishment of specific rules for this park is a departure from normal City procedure. It does, however, reflect the unique situation where public use is granted to a privately owned parcel of land. If you concur with these rules and the Agreement, the City Council and the HRA should each adopt the corresponding resolution. DORSEY & WHIINEY LLP