Agenda - Council - 04/14/2026 - Laserfiche WebLink

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7. 3. CC Regular Session Meeting Date: 04/14/2026 Primary Strategic Plan Initiative: Promote economic growth and development. Title: Consider Resolution #26-082 Amending Development Agreement for Northstar Truck & RV Parking Purpose/Background: On February 10, the City Council approved the development agreement (DA) and stormwater maintenance agreement. The DA was not signed because the applicant was waiting to receive updated project cost estimates on several components of the project from his engineer. An amended DA that reflected the new costs and the resulting reduced surety amount was on the March 24, 2026 Council agenda in which the motion failed on a 3-2 vote. The proposed DA on tonight's agenda has the same financial guarantee numbers as the 2/10/2026-approved DA and includes a request for a time extension. The proposed amendment is a repeal - replace action. The applicant filed a request for a time extension at the request of his lender, 21 st Century Bank. The lender supports and will finance the project. However, due to the requirements for Letters of Credit, the lender needs additional time to amend the Title Work and draft a Letter of Credit that is acceptable to the City of Ramsey. Also, unpredictable spring weather could cause delays to the project. Therefore, a ninety -day (90) time extension is requested for project completion no later than September 1, 2026. The lender's request letter is attached for your review. Since the site is located in Ramsey and Elk River, both cities are reviewing the site jointly, including the request for the time extension. The Elk River Planning Commission will review the request on April 28, 2026, and the City Council on May 5, 2026. Time Frame/Observations/Alternatives: Alternatives to Consider: 1. Approve the new development agreement with the extended completion time as requested by the applicant. 2. Deny the time extension keeping the existing June 1, 2026, completion date in place. 3. Approve the development agreement with modifications. Funding Source: All costs associated with this project are the responsibility of the applicant. Recommendation: Staff is not making a recommendation on this action. Outcome/Action: Motion to adopt Resolution #26-082 approving an amended development agreement for Northstar Truck & RV Parking.