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CASE # q <br /> <br />CONSIDER ALLOCATION AGREEMENT BETWEEN <br />RTC LLC; RAMDANCE AND THE CITY OF RAMSEY <br /> <br />By: William K. Goodrich, City Attorney <br /> <br />Background: <br /> <br />The Development Agreement between the City and Ramsey Town Center LLC (RTC) authorized <br />on September 16, 2003 requires the Developer to obtain City approval prior to transferring title to <br />any land within Ramsey Town Center [Section 14. l(a)]. The form of this City approval is what is <br />known as an Allocation Agreement. With the approval of Ramdance's development of Coburn's <br />and othcr retail shops, an Allocation Agreement is now necessary. <br /> <br />At the time of this writing, the final Allocation Agreement is still being worked on. It is anticipated <br />that a final draft will be presented at the Council meeting for consideration. <br /> <br />Enclosure: <br /> <br />Preliminary draft of the Allocation Agreement. <br /> <br />Recommendation: <br /> <br />If the Allocation Agreement is found acceptable a~er review of the final document, Staff <br />recommcnds entering into Allocation Agreement between Ramdance, Ramsey Town Center LLC, <br />and thc City. <br /> <br />Council Action: <br /> <br />Motion to approve the Allocation Agreement presented between Ramsey Town Center LLC, <br />Ralndance, and City of Ramsey. <br /> <br />Review Checklist: <br /> <br />City Administrator <br /> <br /> <br />