Agenda - Council Work Session - 02/15/2005

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34. 35~ 7.14 AUAR ROADWAY.. IMPROVEMENTS. · The City and the Developer aCknow4edge :i!h~ 'importance of upgrading the regional roadways with the AUAR Roadway improvements. The Developer acknowledges that the AUAR requires mitigation of potential impacts that may result from the full build-OUt of the RTC Project. The Developer will continue to work with the City to pursue ~.lternative strategies, including, for example, a :traffic demand ~management plan, to mitigate any such impacts, so that the RTC Project complies with the requirements of the AUAR. The City Will construct the AUAR Roadway Improver~ents. 'The Developer acknowledge that the AUAR Roadway Improvements shall be constructed on a-timetable to be determined by the City. The City rnay construct the AUAR Roadv(ay Improvements in one or more phases as it deems appropriate in its SClc and absolute discretion. Section 7.15 is hereby added to the Master Development Agreement to read as follows: 7.15 STREET SIGNS: AND GROUNDCOVER ESTABLISHMENT. The City's obligation to ConStru6t the AUAR Roadway Improvements includes the obligation to install all street identification signs and traffic control signs and signals' required under the terms of the RTC Controls or required by any Other Regulatory Agency to serve the AUAR Roadway hnprovements. The City must also, as a part of the cost of construction the Roadway Improvements; Seed or sod the boulevards adjacent to the AUAR Roadway Improvements pursuant to the requirements set forth in the Master DeVelopment' Plan. Other than seeding or sodding the boulevards pursuant to the preceding sen!ence, the City is not responsible for any landscaping associated with the AUAR Roadway Improvements. Section 7.16 is hereby added to the Master Development Agreement to read as follows: 7.16 ASSESSMENT AGREEMENT FOR AUAR ROADWAY IMPP~OVEMENTS. Minnesota Statutes Chapter 429, the City's Charter and the City's Ordinances authorize the City to assess all or a portion of the cost of the AUAR RoadWay Improvements 'against the property the AUAR Roadway Improvements benefit. The City; the Developer and the Interested Parties agree the AuAR Roadway Improvements will benefit the Unsold Subject Property.. The City will promptly~ commence and diligently pursue the actions:necessary to assess $3,00'0,000 of the cost of the AUAR Roadway ImprOvements against the Unsold Subject Property pursuant to Minnesota statutes, Chapter 429. The special assessment will be allocated among the lots and-outlots that constitute the Unsold Subject Property pursuant to the percentages set forth on Exhibit F-1. The special assessment will be payable' in a single installment, but the City will defer the obligation to pay the sPecial:asseSsment until the earlier of the date three years after the date the City levies the special assessment or the date the City approves a final Plat replatting all or a portion of the Unsold Subject Property. NotwithStanding the foregoing, the special 'assessments I 710r~52v2 I3