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COUNCIL BUSINESS <br /> <br />Case #A: <br /> <br />Consider Authorization of General Business Terms and Conditions for <br />Amendment to Development Agreement with RTC, LLC <br /> <br />City Administrator Norman indicated new language has been drafted for the General Business <br />Terms and Conditions for the Amendment to the Development Agreement with RTC, LLC. The <br />Council discussed this earlier this evening in the work session. Jim Lasher, Attorney Tom Bray, <br />and RTC representative Bruce Nedegaard are present, and Jim Lasher will discuss the changes. <br /> <br />Mayor Gamec noted this a~eement has been being worked on for quite a few months, and a lot <br />of discussion has gone back and fbrth several times. <br /> <br />Mr. Lasher indicated the fbltowing additional changes have been made to the General Business <br />Terms and Conditions document, based on the work session held tonight: <br /> <br />· Paragraph No. 2: The dollar amount of $836,556.33 will be changed to funds. <br />· Paragraph No. 6: Amended to read as follows: "ContemPoraneously with the execution <br /> of the Development Agreement Amendment, the City and RTC will execute and record a <br /> Parking Improvement Maintenance Agreement which establishes covenants running with <br /> all of the property described on Exhibit D (the "Core Area") and additional property that <br /> relies on public parking ramp.s to satis _f-y parking requirements under the City's zoning <br /> ordinance (the "Secondary Core Area")_for the benefit of property in the Core Area then <br /> owned by the City or subsequently acquired by the City and improved as a public parking <br /> lot or ramp. The Agreement will obligate the ownerS of the proPerty within the Core <br /> Area and the Secondary Core Area to pay the .City, on an annual basis, an amount equal <br /> to alt or some portion of the City's annual cost of maintaining and repairing any and all <br /> public parking tots or parking ramps located within the Core Area and available for use <br /> by owners of the buildings located in the Core Area or their tenants, guests and invitees. <br /> The costs shall be allocated among all of the improved parcels within the Core Area and <br /> the Secondary Core Area (other than parcels improved as public parking ramps or public <br /> · parks and City Halt based on the number of parking spaces required for the improvements <br /> located on each parcel under the City's zoning code (less the number of parking spaces <br /> each parcel provides on the site). The Maintenance Agreement will acknowledge that the <br /> City may, at any time, elect to terminate the Maintenance Agreement and assess the costs <br /> of the parking lot and parking ramp against benefited parcels pursuant to Minn. Stat. <br /> Section 459.14 and Chapter 429. <br />' Paragraph No. 7: Amended to state "...On the date five years from the execution of <br /> amendment No. 1 to the Master Development Agreement, RTC must pay..." <br /> <br />Mr. Lasher explained to summarize Paragraph No. 6; the parking within the core area will be <br />changed to increase the cost of parking to the surrounding areas that would benefit. He explained <br />at this point in time the docmnent would be brought forward to Attorney Tom Bray to amend the <br />document with the appropriate legal language. <br /> <br />P26 <br /> <br />City Council/November 9, 2004 <br /> Page 6 of 31 <br /> <br /> <br />