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Councilmember Elvig asked if Assistant Public Works Director Olson is comfortable with the <br />specifications that have been laid out. ~ <br /> <br />Assistant Public Works Director Olson responded in the affirmative. He stated this discussion in <br />itself might be enough to assure the developer the City is not asking for $6.4 million dollars, but <br />only to be sure the City has the amount of improvements that have been indicated. Staff thought <br />it was important that the laundry list of improvements remain in the agreement. <br /> <br />Councilmember Strommen questioned if the change from 2.5 million dollars to 3 million dollars <br />in Paragraph 6.1 just changes the letter of credit and does not affect the dollar amount to the City. <br /> <br />Assistant Public Works Director Olson responded in the affirmative. He explained the developer <br />conveys the parkland upon completion of all the improvements within that specific park. This is <br />a little bit different, as in the original agreementlit was assumed the City would get all of that <br />upon the signing of the development agreement, and the value of the land would reduce their <br />amount of letter of credit necessary. <br /> <br />Councilmember Cook asked what would stop the Council from moving this forward tonight. <br /> <br />Assistant Public Works Director Olson indicated 'Mr. Nedegaard might not be in the position to <br />approve the document, as John Feges has primarily been working on the document. <br /> <br />Mr. Nedegaard stated John Feges has been working on this agreement. He stated RTC is in <br />agreement with the 4.219 million dollar cap. <br /> <br />Assistant Public Works Director Olson explained -the 4.219 million dollars is not a cap. It is the <br />minimum for park improvements, which is what Mr. Feges has stated all along. He noted <br />Shingobee Development has identified a park and trail escrow in their development agreement <br />similar to the escrow in place for the other approvals. <br /> <br />Mr. Nedegaard inquired about Shingobee's portion of the park and trail based on RTC accepting <br />this agreement tonight. <br /> <br />City Attorney Goodrich advised the Council can approve <br />Shingobee Development to approve if they are in :agreement. <br /> <br />this, and it will be presented for <br /> <br />Motion by Councilmember Kurak, seconded by Councilmember Cook, to approve the Parkland <br />and Trail Plan agreement for Ramsey Town Center as amended and discussed above. <br /> <br />Motion carried. Voting Yes: MayOr Gamec, coUncilmembers Kurak, Cook, Elvig, Pearson, and <br />Strommen. Voting No: None. Absent: CouncilmemberZimmerman. <br /> <br />City Council/November 9, 2004 <br /> Page 9 ~f 31 <br /> <br /> <br />