Agenda - Council - 11/12/2013 - Laserfiche WebLink

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portion of the Subject Property to finance the City's construction and maintenance of an enhanced level of park improvements within the Subject Property, the Developer for itself and its successors and assigns, hereby waives the right to object to the establishment of the special service district pursuant to Minnesota Statutes, Section 428A 02 Subd 4(1), Subd 4(2) and Subd 4(3), waives its right to appeal the establishment of the special service district pursuant to Minnesota Statutes, Section 428A 02, Subd 5 and waives its right to file an objection to the ordinance pursuant to Minn Stat Section 428A 09, Subd 2 or any successor statute 4 19 SPECIAL SERVICE DISTRICT - AUAR ROADWAY IMPROVEMENTS The RTC Ordinance allows the Developer to develop the Subject Property to density levels not generally permitted elsewhere in the City As indicated in the AUAR, development pursuant to the Master Development Plan may result in traffic impacts that require mitigation, and if other financing sources are not available, the City may elect to participate in the construction of AUAR Roadway Improvements at a level not provided throughout the City to the same degree The City may, in the future, adopt an ordinance ordenng a special service distnct pursuant to Minnesota Statutes, 428A to finance its involvement in the AUAR Roadway Improvements If the City establishes a special service distnct or special service distracts that include all or a portion of the Subject Property to finance the City's participation in the construction of AUAR Roadway Improvements, the Developer, for itself and its successors and assigns, hereby waives the right to object to the establishment of the special service district pursuant to Minnesota Statutes, Section 428A 02, Subd 4(1), Subd 4(2) and Subd 4(3), waives its right to appeal the establishment of the special service district pursuant to Minnesota Statutes, Section 428A 02, Subd 5 and waives its nght to file an objection to the ordinance or ordinances pursuant to Minnesota Statute, Section 42SA 09, Subd 2 or any successor statute ARTICLE 5 CONVEYANCES 5 1 CITY HALL SITE Promptly upon the Developer's execution and recording of this Mastei Agreement, the City will commence the process requned under its charter to authorize the City to convey the City's Ninety Foot Tiact to the Developei in exchange for the City Hall Site At such time as the City has completed the process required under its Charter and is authorized to convey the City's Ninety Foot Tract to the Developer, the City must convey the City's Ninety Foot Tract to the Developer subject to all covenants, conditions, restrictions and easements of record, if any, as of September 16, 2003 and the pending special assessments described in Sections 7 6, 7 12 and 9 6 and the Developer must convey marketable title to the City Hall Site to the City subject only to (a) the pending special assessments descnbed in Sections 7 6, 7 12 and 9 6, (b) easements existing as of the date of this Mastei Agreement or established in the Master Final Plat, which do not adversely affect the City's intended use of the City Hall Site and do not impose any financial obligations on the owner of the City Hall Site, and (c) the restriction described below The Developer shall convey the City Hall Site to the City subject to the restriction that for a period of 30 years following the date of the conveyance the City may only use the City Hall Site for purposes of a City Hall, a performing arts center, a multi -modal transit station, a public parking facility or a combination of the above uses The restnction will run in favor of the owners of the balance of Outlot 0 as depicted on the Preliminary Plat and the benefits of the restriction aie an appurtenance to those parcels The restriction must provide that in the event of a breach of the restriction the benefited party's sole 1555730v13 17