Agenda - Council - 07/12/2016 - Laserfiche WebLink

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these principals will continue to influence the Development of the Subject Property pursuant to this Master Agreement: (a) City Goals. The activities of the City are undertaken for the purpose of providing a mixed use, transit -oriented and pedestrian -friendly development that is sustainable, provides housing, commercial and employment opportunities for the citizens of the City, and promotes the general welfare of the City. The City will endeavor to participate in the development of appropriate facilities to benefit residents of the City. (b) Developer Goals. The activities of the Developer are undertaken for the purpose of creating, within the City, an entirely new community of residential, commercial, civic and retail users. (c) Financial Sourcing. The City and the Developer desire to encourage investments by and partnerships of interest with other governmental units and not -for -profit entities. (d) Security. The City and the Developer desire to provide appropriate means, security, recourse and remedies to protect the public and private investment. (e) Protect Control. The City and the Developer desire to provide a Master Development Plan and Master Agreement and mechanisms to ensure conformity to the Master Development Plan and Master Agreement, to ensure the community is built with controls and standards encouraging sales and livability. (f) Civic Investment. The City and the Developer desire to individually and jointly invest in civic facilities for the general welfare and common good, including, but not limited to, community and government centers, parks and public green space, pedestrian trails, and convenient parking facilities and transit. 1.8 The Subject Property is bounded on the south by railroad right-of-way. The Developer has made inquiries with the City regarding the current planning and zoning status of property located south of the railroad right-of-way, north of the right-of-way of State Highway 10, west of Ramsey Boulevard and East of Armstrong Boulevard. The City has advised the Developer that the property is currently subject to an interim ordinance the City adopted pursuant to Minnesota Statutes, Section 462.355, Subd. 4 and that the City is currently pursuing the adoption of an official map pursuant to Minnesota Statutes, Section 462.359. If adopted, the official map will indicate the property is necessary for future public uses. ARTICLE 2 DEFINITIONS 2.1 DEFINITIONS. When used in this Master Agreement, the following terms shall have the meanings specified in this Article 2. Each definition or pronoun herein shall be deemed to refer to the singular, plural, masculine, feminine or neuter as the context requires. Words such as "herein," "hereinafter," "hereof," "hereto" and "hereunder," when used in reference to this 1555730v13 2