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Assistant Director of Public Works Olson replied that he absolutely agreed. He explained that <br />Ramsey Town Center, LLC is currently working on a timeline to complete the various project <br />and they would be responsible for everything incorporated in the plan. It was noted that staff did <br />provide an example of what the City would receive over the next few years in park dedication <br />with an estimate on increase in rates. It was also noted that if the City were to collect park <br />dedication instead of moving forward with the proposed plan the City would have to wait to <br />construct the improvements until development occurs, which could hinder development. Also <br />the City would be responsible for designing and building the parks and just for the four parks <br />included in the proposal there is 1.5 million dollars in soft costs. What staff has told Ramsey <br />Town Center, LLC is that staff is researching if some of the soft costs qualify for park credit as <br />well as if the retail park should be constructed first. <br /> <br />City Administrator Norman explained that Ramsey Town Center, LLC's argument is that the <br />development will occur from the outside inward should they develop a park where there is a lot <br />of vacant land or where the land is developing. Staff's argument is that the City needs to have <br />some assurance in place that the other parks will be constructed without a substantial cost to the <br />City. <br /> <br />Assistant Director of Public Works Olson stated that if the City can get some assurance for the <br />retail parks it would be a phenomenal proposal. That being said it is still an okay proposal <br />because the parks would be built up front and if the City were to develop the parks themselves <br />after final plat occurs they would not be able to do so without designing the projects first so a 4.2 <br />million dollar proposal would turn into over a 5 million dollar proposal, which is more than what <br />the City would collect in park dedication. <br /> <br />Councilmember Elvig stated that he thought it was important to incorporate some language in the <br />agreement pertaining to inflation to assure that the City will receive equivalent to what is being <br />proposed. <br /> <br />Assistm~t Director of Public Works Olson explained that Ramsey Town Center, LLC has told <br />staff that the first phase would include all of Town Center Park and South Park. The only thing <br />that would not be constructed this summer would be north park. He noted that was only a verbal <br />statement that has not been put in writing. <br /> <br />Councilmember Cook stated that he thought it was a good proposal, but agreed that the two <br />commercial parks are very important. The only concern he had is if Ramsey Town Center, LLC <br />is meeting their park requirements on the four parks how can the City require them to develop the <br />two retail parks. <br /> <br />Mayor Gamec inquired if it was possible to include an estimated inflation amount in the <br />agreement so that if it takes the developer longer than a couple of years to develop the City is <br />guaranteed to still receive what was agreed to. <br /> <br />City Council Work Session/March 1, 2004 <br /> Page 8 of 12 <br /> <br /> <br />