Agenda - Council Work Session - 06/15/2004

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CITY COUNCIL WORK SESSION Topic Report: Ramsey Town Center Core Area By: James E. Norman, City Administrator Background: On May 12, City staff and Council representatives met with representatives of the Ramsey Town Center (RTC) to discuss issues related to the Letter of Credit. An agreement was reached and construction of the streets in the Town Center began in a matter of days following the meeting. A new discussion item was brought up during the meeting concerning the second structured parking facility on the western portion in the core of the Town Center. The Ramsey Town Center Master Development Agreement puts into place the understanding of how the second parking ramp is to be constructed and how an investment of up to $6 million will be spread out throughout the Town Center for the financing of the project (Article 9 attached). The RTC Master Developer brought up a suggestion made by the City Administrator that the assessment could be t'orgiven in exchange for land in the core of the Town Center. Both the City representatives and the RTC Developers agreed to continue meeting to discuss the issue further. Two meetings have been held between the RTC Developer and the City and the discussion now has grown to include a larger section of land in exchange for the parking ramp assessments and the benchmarks described in Article 4.16 (attached) which restricts residential development. A map of the area is attached to this Topic Report. Discussions and negotiations have continued through the week of June 7, and proposals are still in concept form. Staff would like to discuss the proposals with the City Council during the work session. Representatives fi'om the RTC have been asked to attend the meeting to offer their positions for Development Agreement amendment proposals. Action Statement: Based on the Council's discussion. Reviewed by: City Administrator Assistant Director of Public Works Assistant Community Development Director Finance Officer CCWS: 06/15/04