Agenda - Council - 02/22/2005 - Laserfiche WebLink

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Statutes Chapter 429, the three parCels'subject to the Escrow Agreements described in this :paragraph will 'not be subject to special assessments for the City Phase I Roadway Improvements, City Phase II Roadway Improvements, AUAR Roadway Improvements or~ Parking Improvements. 33. 34. 35. Section 7.14 is hereby added to the Master Development Agreement to read as follows: 7.14 AUAR ROADWAY IMPROVEMENTS. The City and the Developer acknOWledge ithe 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 alternative 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 Improvements. The Developer acknowledge that the AUAR Roadway Improvements shall be constructed on a timetable'-to be determined by the. City. The City may construct the AUAR Roadway:Improvements in one or more phases as it deems appropriate in its sole and absolute discretion. Section 7.15 is hereby added to the Master Development Agreement to read as follows: 7.15 STREET SIGNS A:ND GROUNDCOVER ESTABLISHMENT. The City's obligation'to cbnstrUct 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 Improvements. 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 sentence, the City is not responsible for any landscaping associated with the AUAR Roadway Improvements. Section 7.16 is hereby added t° the MaSter Development Agreement to read as follows: 7.16 ASSESSMENT AGREEMENT FOR AUAR ROADWAY IMPROVEMENTS. MinneS°ta 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 AUARi 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, Attached as Exhibit R is a Petition for the AUAR Roadway Improvements eXecuted by the Developer, Ramdance and PSD. The City will promptly commence and diligently pursue the actions necessary to assess $3,000,000 of the cost of the AUAR Roadway 1710652v6 13