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

Home

any right to levy additional assessments for the AUAR Roadway Improvements against the Secondary Developer and the Property. In the event that the costs of the AUAR Roadway Improvements are greater than. anticipated, the Master Developer shall be responsible for all additional costs for the AUAR Roadway Improvements. The City reserves the right to levy an assessment against the Master Developer for these additional costs and shall solely look to the Master Developer for payment. In the event that the costs of the AUAR Roadway Improvements are less than anticipated, the City and Secondary Developer agree to release the escrowed funds for the AUAR Roadway Improvements to Master Developer in accordance with the Escrow Agreement. 12. Special Service District — Park Improvements. Section 4.18 of the Master Development Agreement allows the City to adopt an ordinance creating a special service district to assess costs for an enhanced level of park improvements within Ramsey Town Center. The enhanced level of park improvements may 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. In the event that the City allocates the cost of the enhanced level of park 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. Although final allocation of the costs for the enhanced level of park improvements has not yet been determined, the City has endorsed an allocation formula for the assessment of the costs for the enhanced level of park 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 an enhanced level of park improvements, 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 an enhanced level of park improvements. 13. Streetscape Construction. The Master Developer is responsible, at its cost and expense, to construct and install certain landscaping, park improvements and pedestrian improvements within or adjacent to the rights -of -way for the City Phase I Roadway Improvements and the City Phase II Roadway Improvements in accordance with Section 11.1 and Section 1 ] .2 of the Master Development Agreement ("Streetscape Construction"). The Secondary Developer is assuming a limited obligation to construct certain portions of the Streetscape Construction located along the south side of Sunwood Drive NW adjacent to the Property and the west side of Zeolite Street NW adjacent to the Property in accordance with the Development Contract. Secondary Developer's limited Streetscape Construction shall be paid by the Master Development as set forth in this section. Except for Secondary Developer's limited Streetscape Construction obligation set forth above, Secondary Developer shall not be 8