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<br />'Sent by: DAB <br /> <br />651 265 3900j <br />e - <br /> <br />12/07/98 4:58PMjJedax #876jpage 6/6 <br /> <br />. <br /> <br />Subd. 7 Urllan ReM:TVe Development District Establishment. Following receipt of <br />authorization to establish an Urban Reserve Development District. the local governmental unit <br />within which the District has been authorized may establish the District by executing a <br />development agreement with the owners of at least ninety percent (90%) of the land within the <br />authorized district which: <br /> <br />· Authorizes development within the District exclusively in acrord with the <br />Urban Reserve Development Plan. <br /> <br />· Requires the conveyance and/or permanent reservation, by easement or <br />other instrument. of all land within the District specified for public use or <br />reservation. In the event of reservation, the agreement shall establish the <br />price to be paid for the land based on current market value. <br /> <br />· Eliminates the right of any land owner within the District to raise legal <br />challenge to the creation of the Plan or its provisions in court. <br /> <br />Execution of the development agreement by the local governmental unit constitutes a <br />permanent authorization to allow the development of land subject to the agreement in the manner <br />specified in the Urban Reserve Development Plan and to provide the services necessary to <br />accomplish this development. <br /> <br />To facilitate the execution of a development agreement and the establishment of a district, <br />the owners ofland within the proposed district may develop and execute a supplementary <br />agreement allocating the rights and benefits relating to development as specified in the Urban <br />Reserve Development Plan to each other in any appropriate manner. <br /> <br />SuM R . Following the execution of a development agreement:. the local <br />governmental unit shall have the agreement including the Urban Reserve Plan, recorded in the title <br />of all affected properties and shall include the reference to the Urban Reserve District and Urban <br />Reserve Development Plan in subsequent publications of its Comprehensive Plan and zoning <br />ordinance. <br /> <br />Subd 9 Tax Tre~trnent. Subd. I. Land within an Urban Reserve Development District <br />shall be assessed and taxed on the basis of CUITent use. <br /> <br />[ Any governmental unit may acquire land planned for public services and utilities in an <br />Urban Reserve Development Plan.] <br /> <br />. <br /> <br />NOWUD !l16732.l <br /> <br />5 <br />