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Motion by Councilmember Kuzma, seconded by Councilmember Menth, to not issue the Notice <br />Default, remove the two clauses related to government and financing approvals, and to proceed <br />to closing within 14 days. <br />Further discussion: Councilmember Riley stated that he would not support that action, as there is <br />a purpose of including the two clauses, as the right of re-entry cannot be included with this type <br />of financing. Mayor LeTourneau stated that it appears that the risk of the development not <br />occurring is lessened by the completion of phase one and the financing of phase two underway. <br />Councilmember Kuzma stated that he feels that the developer will do what is necessary to <br />complete their development. He stated that if there is not support for this motion ultimately, he <br />would also support negotiation of a new Purchase Agreement. He stated that he would hate to <br />see the project not be completed, as he believes that it is important to have this type of housing <br />available in the community. Mayor LeTourneau commented that he believes that this is an <br />important project that is valuable to the community. <br />Motion failed. Voting Yes: Mayor LeTourneau, Councilmembers Kuzma and Menth. Voting <br />No: Councilmembers Heinrich, Musgrove, Riley, and Specht. <br />City Administrator Ulrich stated that the Council can authorize the Notice of Default and the <br />developer could still come back with a new Purchase Agreement. <br />Motion by Councilmember Riley, seconded by Councilmember Specht, to Adopt Resolution <br />#20-013 Approving Notice of Default for AEON Ramsey 2, LLC. <br />Further discussion: Councilmember Heinrich stated that her decision is based on feedback from <br />the residents stating that they do not want an apartment in The COR right now. Mayor <br />LeTourneau acknowledged the comments that Councilmember Heinrich stated that she has <br />received but noted that the Council continues to hear from the development community that this <br />is a needed and in demand product. Councilmember Kuzma hoped that the developer could <br />come back with a new Purchase Agreement to complete the project. He agreed that he would <br />prefer to see the City safeguards put in place through a new Purchase Agreement. Mayor <br />LeTourneau stated that he is bothered that this cannot move forward as it appears that the <br />Council is chasing out a developer and hoped that the developer does not feel that way. Mr. <br />Arthur stated that he does not feel that way at all and has been proud about the partnership they <br />have with Ramsey. He stated that AEON will continue to be the owners of the project they <br />completed in Ramsey for years to come. He thanked the Council for their time tonight. <br />Motion carried. Voting Yes: Councilmembers Riley, Specht, Heinrich, and Musgrove. Voting <br />No: Mayor LeTourneau, Councilmembers Kuzma and Menth. <br />7.01: Introduce Ordinance #20-01 Rezoning Two Parcels at 9340 Highway 10 NW; Case <br />of MYWC LLC <br />City Council / January 14, 2020 <br />Page 8 of 16 <br />