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Motion carried. <br />Case #2: Authorize Execution of Development Agreement with Robert Muir Company <br />(RCM-Minnesota Corporation) for Ramsey Crossings <br />Mr. Jim Lasher, LSA Design, stated- he is present to provide the Council with information <br />regarding the actions that have- taken place on the Ramsey Crossings project, the status of the <br />negotiations, an overview of the site plan, and an overview of the general terms outlined in the <br />development agreement. Mr. Lasher reviewed the history of the Ramsey Crossings project and <br />Council's authorization of the Ramsey Crossings area as a redevelopment area, eminent domain <br />action, the selection of Robert Muir Company (RCM) as the preferred developer, and- the <br />exclusive negotiation agreement with RCM. Mr. Lasher indicated tonight the development <br />agreement with RCM is before the Council for review and comment. <br />Mr. Lasher stated the Ramsey Crossings site plan- includes three primary buildings. RCM is in <br />negotiations with Target for the first building site. There will also be a lumber wholesale retail <br />store and a general retailer, possibly Kohls. Mr. Lasher provided an overview of the Ramsey <br />Crossings site plan consisting of 62 acres and 16 parcels with 645,000 square feet of large retail. <br />He advised part of the project includes the construction of public streets and the extension of <br />116`".Street on the north. He indicated utilities will be placed inside of Sunwood Drive and will <br />allow for future expansion to the north of this property. Mr. Lasher advised there are a couple of <br />items in the property that will need to be relocated. One is a cell tower with a lease; they will be <br />back to discuss how to modify that lease and where to relocate the tower. <br />Mr. Lasher provided an overview of the development agreement between the City of Ramsey <br />and RCM for. the Ramsey Crossings project. He indicated RCM has agreed to purchase the <br />development property from the City. The City will enter into a purchase agreement to assemble <br />all 16 parcels, and in July 2007 RCM will purchase all of those properties. In the. event the City <br />is unable to successfully negotiate a purchase with the owners, eminent domain is a possibility; if <br />this cannot be done in a timely fashion there would be a quick take process to assure the'City has <br />the property by July 2007. RCM has agreed to pay for offsite improvements in the amount of <br />$1,747,488.00 and to be assessed 50% for the 116`" Street extension. RCM has agreed to begin- <br />construction in-July of 2007 and plans to have the primary Phase I open in October of 2008. <br />Target will be first building to come forward for site plan approval; it will take approximately 1 <br />'/z years to build out Phase I from the time Target opens: <br />City Administrator Norman indicated Attorney Tom Bray is present to answer questions. He <br />advised the developer is still reviewing the draft language included in the agreement and the City <br />Attorney will recommend language to be included in the motion. - <br />Mayor Gamed noted Section 4. I refers to the use of TIF funds. He requested clarification that <br />TIF funds will be used for utilities and street work, not for the particular businesses. <br />~~ <br />i <br />City Council /December 28, 2006 <br />Page 12 of 27 <br />