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Councilmember LeTourneau introduced the following resolution and moved for its adoption: RESOLUTION #17-10-256 RESOLUTION GRANTING DEVELOPMENT AGREEMENT APPROVAL OF BUNKER LAKE INDUSTRIAL PARK, RELEASE FROM DEVELOPMENT AGREEMENT FOR ALPHA DEVELOPMENT, AND RELEASE FROM ASSESSMENT AGREEMENT WHEREAS, PSD, LLC, hereafter referred to as “Developer”, properly received Final Plat and Site Plan approval of the following described property located in the City of Ramsey: That part of Outlot B Alpha Development lying within the Northeast Quarter of the Northwest Quarter of Section 29, Township 32, Range 25, Anoka County, Minnesota -and- That part of the Outlot B Alpha Development lying within the Northwest Quarter of the Northeast Quarter of Section 29, Township 32, Range 25, Anoka County, Minnesota (the ‘Subject Property’); WHEREAS, the CITY requires that the DEVELOPER enter into a Development Agreement with the CITY to ensure the timely installation of required improvements; and WHEREAS , the DEVELOPER desires to assign obligations for the required public infrastructure to PSD, LLC, obligations for Lot 1, Block 1, Bunker Lake Industrial Park Addition to BLIP II, LLC, and obligations for Lot 2, Block 1, Bunker Lake Industrial Park Addition to BLIP I, LLC. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: 1)That the Ramsey City Council hereby grants Development Agreement approval for Bunker Lake Industrial Park Addition with PSD, LLC and authorizes the Mayor and City Administrator to sign on behalf of the City. 2)That the Ramsey City Council hereby grants Development Agreement approval for Lot 1, Block 1, Bunker Lake Industrial Park Addition with BLIP II, LLC and authorizes the Mayor and City Administrator to sign on behalf of the City. 3)That the Ramsey City Council hereby grants Development Agreement approval for Lot 2, Block 1, Bunker Lake Industrial Park Addition with BLIP I, LLC and authorizes the Mayor and City Administrator to sign on behalf of the City. 4)That the Ramsey City Council hereby releases the Subject Property from the Development Agreement by and between the City and Hageman Holdings, LLC dated May 20, 2011 and recorded on May 23, 2011 as Document No. 2022343.005, Amended and Restated by Document No. 2160375.002. 5) That the Ramsey City Council hereby releases the Subject Property for the Assessment Agreement dated May 20, 2011, filed May 23, 2011 as Document No. 2022343.006.