Agenda - Public Works Committee - 09/15/2020

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WATER MAIN AND SANITARY SEWER COST CONTRIBUTION/REIMBURSEMENT AGREEMENT THIS WATER MAIN AND SANITARY SEWER AGREEMENT (this "Agreement") is made and entered into effective as of theca —day of March, 2006, by and between the City of Ramsey, a Minnesota municipality organized under the laws of the State of Minnesota (the "City"), and Oakwood Land Development, Inc., a corporation duly organized and existing under the laws of the State of Minnesota ("Oakwood"). THE PARTIES RECITE AND DECLARE THE FOLLOWING: A. The City desires to install (i) a municipal water main extension for the Northwest and Northeast Service Area, and (ii) a municipal sanitary sewer extension for the Northwest Service Area, as set forth in those certain Feasibility Studies (the "Feasibility Studies") for the Northwest and Northeast Sanitary Sewer and Water Main Extension dated the 9th day of March, 2004 (hereinafter referred to as the "Project"); and B. The municipal water main extension for the Northwest and Northeast Service Area, and the municipal sanitary sewer extension for the Northwest Service Area are shown on the map attached hereto as Exhibit A; and C. It is presently anticipated that the cost of the installation of the hereinabove described municipal water main extension and municipal sanitary sewer extension as identified in the Feasibility Studies will be Ten Million and 00/100ths Dollars ($10,000,000.00) and if the cost exceeds $10,000,000.00 the City, may not want to proceed with the Project; and D. Oakwood currently owns, or has a substantial legal interest in, certain real property lying and located in the City of Ramsey, County of Anoka, State of Minnesota, which properties are commonly referred to as the Brookfield, Harmony Farms and St. Anthony Gun Club Properties, which properties are more particularly described in Exhibit B attached hereto (hereinafter collectively referred to as the "Oakwood Properties"); and E. The Oakwood Properties will be benefited by the extension of the municipal water main and municipal sanitary sewer; and F. Oakwood has offered, subject to its right of reimbursement, to contribute the sum of Six Million and 00/100ths Dollars ($6,000,000.00) towards the total Project costs as hereinafter set forth.