Agenda - Council - 09/26/2017 - Laserfiche WebLink

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30. PLATTING & DEVELOPMENT AGREEMENT. Buyer must obtain an approved final plat, development agreement, and building exterior visual renderings with the City of Ramsey for its intended project -- an age restricted, market rate, apartment community of approximately 150 to 200 units, which shall include first floor structured parking -- before Closing. The Development Agreement and Site Plan must comply with all local zoning ordinances and design standards, including The COR Design Standards which are attached hereto as Exhibit B. 31. PUBLIC ROADS COST -SHARE. Both the Buyer and Seller understand that various public roadway connections must be constructed as a result of this new proposed development project (a portion of Ramsey Parkway, 145th Ave NW, Center Street, and Willemite Street). The Buyer shall be responsible for twenty percent -(20%) of total public roadway project costs. Said 20% assignment to the Buyer shall occur only on public roadway sections located directly adjacent to the Property. Public Roadway costs shall include all roadway costs, such as: roads, utilities, sidewalks, boulevards, landscaping, benches, trash receptacles, curb/gutter, and street lighting. Before the end of the Inspection Period, the Seller and Buyer shall both, in writing, approve an engineer's feasibility report for said public roadway work; which, shall include a cost assignment schedule (and/or reimbursement agreement in the event Buyer agrees to assume responsibility for constructing any of the public roadway connections in conjunction with the construction of its project). 32. CITY PARK PLATTING. Seller acknowledges that Buyer's selection of the Property location and share was influenced by Seller's representation that a nark is planned to be developed directly south of the Property. While Seller cannot euarantee the timing of the park development. Seller agrees to legally dedicate not less than 1.5 acres of land for the park as part of Buyer's final plat (referenced in Section 30 above). precluding such land from being sold or developed for other purposes. With Buyer'sSeller's cooperation. Buyer 8dller acre *r ksee Linete rr_:d ✓ e the cuv'ev acd aaptosval of shall incorporate the land to be dedicated as a nark into Buyer's preliminary plat. r,c d.i each ?�^ :nay lre included in the fat- I?ar,\r'c development. Page 11 of 16 IFormatted: Font: Bold Formatted: List Paragraph, No bullets or numbering 1