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Councilmemb~r Elvig inquired if there was some language they could introduce in the Allocation <br />Agreement thdt if D.R. Horton is not ready to develop, Ramsey Town Center, LLC can still sell <br />the remainder bf the residential area. <br /> <br />City Attorney!Goodrich replied that he thought that was provided for in the option agreement, <br />but he would 9erify that. <br /> <br />Councdmemb[er Kurak stated that she would imagine the master developer is protecting <br />themselves. <br /> <br />City AttomeYl Goodrich explained that some Councilmembers are concerned about what <br />provisions Ra[nseY Town Center, LLC has in place to make sure D.R. Horton develops in a <br />timely fashi0n~and if there is any language in place that would allow other developers to come in <br />and develop i~D.R. Horton does not move forward in a timely fashion. <br /> <br />Councilmembsr Cook stated that D.R. Horton came in requesting that the benchmarks be <br />eliminated so bey probably are not looking at having any problems with building on the site. <br /> <br />City AttorneY Goodrich inquired as to how the Council wanted to handle the issue. <br /> <br />Mayor Gamed stated that the City has the benchmarks in Place and now it is between D.R. <br />Horton and th4 master developer. <br /> <br />Councilmemb~r Elvig stated that the only question he has is ifD.R. Horton has a slow down and <br />another developer is there ready to develop are they going to allow that residential developer to <br />develop aheadlof D.R. Horton. <br /> <br />Councilmember Cook replied that it is more likely that D.R. Horton will be pushing Ramsey <br />Town Center, ~LC to sell the commercial property so the benchmarks are met. <br /> <br />City Administ3ator Norman stated that it is a legitimate concern, but that is a risk with requiring <br />benchmarks. <br /> <br />Councilmembqr Elvig inquired if the option to buy the property qualifies that D.R. Horton has <br />purchased the first Phase of residential capacity and no one else can come in. <br /> <br />City Adminisffator Norman replied yes, because the developer has chosen to enter into an option <br />for such a larg~ parcel. <br /> <br />Councilmemb~ Elvig stated that the question is does the Council agree with that.~ He was not <br />sure how theyi have identified which portions they have sold and have they done it in a hop- <br />scotched manner and 'if it is staggered how does that impact infrastructure. <br /> <br />Assistant Community Development Director Trudgeon reviewed the residential parcels D.R. <br />Horton has pla~:ed a hold on. <br /> <br />Councilmembe~r Elvig inquired as to how the City extends infrastructure that far out if they are <br />not ready to doi so. <br /> <br />City Council/November 25, 2003 <br /> Page 17 of 28 <br /> <br />P37 <br /> <br /> <br />