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

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36. 37. the Developer's or, if aPplicable, a Secondary Developer's .proposed allocation if the Developer's Or, if applicable, a Secondary Developer's proposed allocation is done on a per square foot basis. The City may accept or reject other proposed allocations in its sole and absolute discretion. The CitY agrees that the City will not assess more than $3,000,000 against the Unsold Subject Property for the AUAR Roadway Improvements. Section 8.6 of the Master Agreement is hereby amended to read as follows: 8.6 COMMENCEMENT AND COMPLETION OF PHASE II CONSTRUCTION. Subject to Force Majeure, the City is obligated to commence and eomplete l construction of the City Phase II Utility Improvements on the 'same dates that the City is obligated to commence and substantially complete construction of the City Phase II Roadway Improvements pursuant to:Section 7.9. The City Utility Improvements will be public improvements, and the City will maintain the City Utility Improvements as public improvements. Sections 9.1 through 9.7 of the Master Agreement are hereby deleted in their entirety and replaced with the following. 9.1 PARKING STRUCTURES. RTC Ordinance stateS: Section 9.20.31, Subd. 2(a) of the To maximize the uselof land and prevent proliferation of surface parking within this DistriCt, parking structures will be utilized to accommodate the majority of the District's parking needs. In furtherance of the RTC Ordinance, the City will construct a two phase parking improvement iproject within the TC-1 Mixed Used Core Sub- District which project is defined herein as the "Parking Improvements". The City will construct the Parking Improvements pursuant to the Schedule set forth on Exhibit N as modified by the City Council ResolutiOn ordering the construction of the Parking Improvements. 9.2 ASSESSMENT AGREEMENT FOR PARKING IMPROVEMENTS. Minnesota Statutes, seCtioni459.14, 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 Parking Improvements against the property the Parking Improvements benefit, The City, the Developer andthe Interested Parties agree the Parking Improvements will benefit the Unsold Subject Property. Attached as Exhibit R is a Petition for the Parking Improvements executed by the Developer, Ramdance and PSD. The City will promptly commence and diligently pursue the actions necessary to specially access $6,000,000 of the cost of the Parking Improvements against the Unsold Subject Property. The special assessment will be 1710652v6 15