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I <br />I <br />I <br />I <br />I <br /> <br />,I <br /> I <br /> I <br /> <br />TERMINATION OF DEVELOPMENT AGREEMENT WITH <br />ANOKA ELECTRIC COOPERATIVE, INC. <br /> By: James E. Norman, City Administrator <br /> <br />Background: <br /> <br />The City of Ramsey entered into a development agreement with Anoka Electric Cooperative, <br />Inc. (AEC) in December 1995 to jointly develop the industrial park known as AEC Energy Park. <br />Additionally, in order to market the facility, the City entered into a second development <br />agreement with AEC in August 1996. It was agreed that the marketing development agreement <br />would be terminated when the industrial park was fully developed. AEC agreed to subcontract <br />with Michael J. Mulrooney of Advanced Resources for the purposes of marketing the industrial <br />park. <br /> <br />A termination agreement (attached to this case) has been drawn up by AEC, d/b/a Con.nexus <br />Energy, that would terminate both the development agreement of December 1995 and the <br />marketing development agreement of August 1996. <br /> <br />Recommendation: <br /> <br />Staff recommends authorization to execute the termination agreement with AEC for both the <br />development agreement of 1995 and the marketing development agreement of 1996. <br /> <br />Council Action: <br /> <br />Motion to authorize execution of termination agreement with Anoka Electric Cooperative, Inc. <br />for development agreement of 1995 and marketing development agreement of 1996. <br /> <br />Reviewed by: <br /> <br />City Attorney <br /> <br />CC: 03/14/00 <br /> <br /> <br />