Agenda - Economic Development Authority - 01/07/2016

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o In summary, the following items are included in the development agreement are worth noting. For detailed, legally accurate information, please review the actual agreement. ■ The City requires both stage I and stage II development improvements be constructed. ■ Some stage I improvements did/will involve City financing (i.e. water/ sewer/ road/ grading/ etc.). This is spelled out the in the assessment agreement. The City paid for these improvement upfront. A portion of said improvements was assessed back to Hageman Holdings over 20 years. ■ Hageman Holdings was not responsible for financially guaranteeing stage I improvements that the City assessed. However, they were responsible for guaranteeing remaining stage I and all stage II improvements. ■ Agreement requires submittal of a final plat, utility plan, sanitary/water construction plan, storm water/street construction plan, grading plan, erosion control plan, landscape plan and a tree inventory. ■ Stage II improvements are required at the time of development (property corner pins). ■ A certificate of occupancy will not be issued by the City until this agreement is fully executed by the property owner. It's the City's understanding a majority of required work has been completed. 3. Right of Entry Agreement: May 2011 o Agreement indicating the City has a right to enter the property to inspect fire suppression systems (not interior—hydrants and utilities). 4 Warranty Deed: May 2011 o Agreement conveying real property, known as Outlot C, Alpha Development Plat, to the City of Ramsey. o Land was given to the City of Ramsey in lieu of the required park dedication fee. Declaration of Easement: May 2011 o Agreement dedicating trail easements on the Alpha Development Plat. 6, Stormwater Treatment and Ponding Maintenance Agreement: May 2011 o Property owner is responsible for operation, maintenance and required reporting for stormwater ponds/manholes. WORKING DRAFT (subject to change)