Agenda - Council - 11/09/2004 - Laserfiche WebLink

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Agreement or establishment of the escrow as set forth above, the Secondary Developer shall not have any further liability for park dedication or trail development fees for the Property. In the event an escrow is established, the City shall release the escrow upon full execution of the Parkland and Trail Plan Agreement in accordance with the Escrow Agreement. 10. Park Maintenance Deposit. The Secondary Developer shall not be responsible to deposit any amounts for the maintenance of park improvements under Section 4.12 of the Master Development Agreement. Secondary Developer shall have no liability to deposit the $250,000 obligation set forth in this section and the City shall solely look to Master Developer for satisfaction of this obligation. The City shall not assess the Secondary Developer or the Property for any amount of this park maintenance deposit. 11. Special Service District - AUAR Roadway Improvements. Section 4.19 of the Master Development Agreement allows the City to adopt an ordinance creating a special service district to assess costs for AUAR Roadway Improvements within Ramsey Town Center. The City and Master Developer are working with MnDot and Anoka County to ensure that the Ramsey `Down Center development complies with the requirements of the AUAR. The AUAR Roadway Improvements will be constructed sometime subsequent to the initial development of the Property and are not infrastructure or capital improvements related to or dependent upon the initial development of the Property. The City will not deny approval of Final Plans for the Property in the event that the AUAR Roadway Improvements are not constructed. In the event that the City allocates the cost of the AUAR Roadway Improvements against Property, the allocation will be based on an allocation formula for Ramsey Town Center to be determined. Such costs are not a pending or levied special assessment against the Property until a hearing and further City action on the matter and are not special assessment costs related to or dependent upon the initial development of the Property. To the best of the City's knowledge, the current estimate for the cost of the AUAR Roadway Improvements to be assessed against the Ramsey Town Center totals approximately $ . Although final allocation of the costs for the AUAR Roadway Improvements has not yet been determined, the City has endorsed an allocation formula for the assessment of the costs for the AUAR Roadway Improvements among the lots and outlots in the Master Final Plat pursuant to the percentages set forth on Exhibit F of the Master Development Agreement, which allocation formula would result in the Property being assessed 4.0% of such costs. Secondary Developer waives the right to object to the establishment of the special service district to assess costs for AUAR Roadway Improvements within Ramsey Town Center, waives its right to appeal the establishment of the special service district, and waives its right to file an objection to the ordinance pursuant to Minnesota Statutes, Chapter 428A, with respect to the Property. This waiver runs with title to the Property and is binding on Secondary Developer and its successors and assigns. This waiver does not preclude the Secondary Developer from objecting to the amount or allocation of any assessment for AUAR Roadway Improvements. As security to ensure payment of the AUAR Roadway Improvements, Master Developer shall provide escrow funds in accordance with the Escrow Agreement from proceeds of the sale of the Property to Secondary Developer in the amount of $132,000.00. Payment shall be disbursed in accordance with the Escrow Agreement. The City shall not assess the Secondary Developer or the Property any additional amounts for the AUAR Roadway Improvements. The City waives 7