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-168- <br /> <br /> SUMMARY OF PROPOSED SETTLEMENT <br /> BETWEEN CITY OF RAMSEY AND <br />ANOKA COUNTY COMMUNITY ACTION PROGRAM~ INC. <br /> <br /> 1. The closing on the sale to ACCAP will occur by August 31, 2001 pursuant to the <br />terms of the previously approved February 18, 1999 Purchase Agreement. The main terms of <br />that agreement are: <br /> <br />Purchase price of $269,000. <br /> <br />No obligation to rezone the property. <br /> <br />ACCAP will be responsible for paying the customary park trail fees, <br />currently estimated at $9,000. <br /> <br />Do <br /> <br />ACCAP will not be required to pay park dedication fees but will be <br />obligated to construct a playground on the property at a minimum cost of <br />,20,000. <br /> <br />The city will not be obligated to remove or replace the wetlands on the <br />property. <br /> <br /> 2. The city will conduct the necessary hearings to create a TIF district with a pay-as- <br />you-go TIF returning 90% of the increment for 20 years, subject to there being allowable costs. <br />Unless otherwise authorized by the City Council, ACCAP will be allowed to develop up to a 31- <br />unit townhouse project on the portion of the property east of Sunwood Drive. The townhouse <br />project must comply with the existing zoning ordinance and comprehensive plan (1995). <br /> <br /> 3. The city will cooperate and execute all standard grant documents required by the <br />Metropolitan Council Livable Communities Grant in the amount of $135,000. <br /> <br />JJT- 199865v 1 <br />BE295-73 <br /> <br />I <br />I <br />I <br />I <br /> <br />I <br /> <br />I <br /> <br /> <br />