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3) Central [lark <br />RTC is proposing the following; <br />a. Provide the planning and design for Central Park <br />b. Fund an escrow that will be used toward the building of the Central Park. Escrow <br />shall be funded with $750.00 per residential build or $1000.00 per commercial and or <br />residential building aver 10 units until a gross amount within the escrow funded <br />equals $2,000,000. <br />RTC would agree to [hatch the City of Ramsey in the amount up to $2,000,000 <br />toward the Development of the City Parks. <br />i.e. $G million park improvement grants and private donation $3.0 million <br />City of Ramsey $1.5 million <br />Ramsey Town Center $1.5 million <br />Total $6.0 million <br />4) [.and as identified within the proposed 5a' Addition project area. <br />RTC; is proposing that RTC remain in fee ownership of the 5"' Addition property, <br />RTC would enter into a purchase agreement with the City of Ramsey that would sell parcels <br />of land within the 5`E' Addition property to a list of preferred users identified within the 5j1' <br />Addition area. These users would be business or nonprofit venues that would quality as <br />added benefit components to the community and would not be in direct competition with <br />other market rate businesses or retailers. <br />i.e., Fitness Center, Performing Arts Center, Winter Garden, Community Center, Parking <br />Structure, and Cinema (if City owned and operated). When these uses have been identified, <br />RTC would complete the master plan of the 5°i Addition. <br />RTC shall agree to sell to the identified parties the parcels for $1.00 over the cost of the <br />assessments and improvements to service the parcels. <br />5) Current geld escrows for Park and Trail fees and Parking structures once the assessment have <br />becn levied the total amount of assessments to be collected shall be divided over all <br />marketable assets of Ramsey Town Centex not yet sold and closed. <br />Funds held in escrow shall be released to RTC funds currently held in escrow arc as follows: <br />a. DR Horton 22 acres <br />b. Pact Charter School <br />e. NAU Property <br />AI I assessments are not assessable and must be paid in full upon the sale of the property. <br />/�hler"''O �gz. cccOcSSe � <br />