Laserfiche WebLink
a) <br /> <br />The City and Developer will consult as to the selection of tenants and the <br />overall business mix. <br /> <br />b) <br /> <br />The Developer will prepare and the City will review and consider approval of <br />a master sketch plan or schematic for the Town Center. The plan wilt identify <br />and outline the various phases of the Town Center. <br /> <br />c) <br /> <br />The Developer will prepare and the City will review and consider approval of <br />an area plan that provides more specific detail for the Town Center. <br /> <br />d) <br /> <br />The Developer will prepare and the City will review and consider approval of' <br />the site plan and plat. for the town Center. <br /> <br /> 6) Escrow Pending Development Agreement. The parties recognize that the <br />process for obtaining the-various governmental approvals needed for the Town Center, including <br />but not limited to negotiation and finalization of the Development Agreement requires significant <br />City staff time and resources. As with ail City developments, the City requires the Developer or <br />applicant to post a cash escrow with it from which escrow expenditures attributable to the project <br />for City staff time and' resources can be reimbursed. Upon execution of this Memorandum, the <br />Developer shall provide a $50,000.00 letter of credit to the City to secure reimbursement of <br />expenses by the Developer. The City shall render its statement to the Developer for <br />reimbursable expenses on or before the tenth (10th) of each month. The Developer shall pay the <br />City for the amount billed on or before the twentieth (20th) of each month, Statements- shall be <br />sent to the Developer as follows: <br /> Ramsey Town Center LLC <br /> .18300 Mirmetonka Blvd. <br /> Wayzata, IvlN 55391 <br /> <br /> 7) Non-Binding Effect, Except for Section 6 above, this memorandum shall be <br />NON-BINDI2'qG on either party and is intended as a negotiation instrument for a final binding <br />agreement between the parties in the form of a Development Agreement. <br /> <br />CITY OF RAMSEY <br /> <br />Its: Mayor <br /> <br />ministrat0r . . <br /> <br />OWN CENTER LLC <br /> <br />NEDEGAARD CONSTRUCTION <br /> <br />COMPANY, INC. <br /> <br />184 03-27-03 <br /> 121070977v4 820716 <br /> <br /> <br />