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• cancellation clause may supersede this. He inquired whether there should be language included <br />with the cancellation clause that ties in with the criteria of what will be built. He noted the <br />agreement is a little short in some areas, but that does not mean he is not willing to move <br />forward. Mr. Deal has a very vested interest and would likely do a great job. <br />City Attorney Goodrich noted with regards to the cancellation clause, Mr. Deal could express <br />- concern regarding the City's ability to cancel the agreement suddenly after he has been working <br />on a project for months. <br />Councilmember Elvig suggested the agreement be approved with criteria outlined as this moves <br />forward. <br />Councilmember Strommen stated she is 100% in favor of the agreement, but there are details to <br />work out. <br />Motion by Councilmember Elvig, seconded by Councilmember Cook, to authorize execution <br />with P.S.D., LLC for development of option properties in Ramsey Town Center with the <br />stipulation that within 90 days the agreement is outlined with better and more thorough criteria, <br />and with the following changes: <br />RECITALS <br />E. PSD is wiling to assist the City with the development of Ramsey Town Center as a whole <br />and the Option Property in particular. The City desires the assistance of PSD with <br />• respect to sucah the development of the option properties <br />AGREEMENT <br />1. "...for uses consisting of some or all of a hotel, health club /fitness center, cinemas, retail <br />stores, apartments, condominiums, community center or any other use approved by the <br />City and as permitted by the City's option <br />4. This agreement may be cancelled at the motion of either party upon a prior written receipt <br />of notice of 30 days by either party. Upon said written notice neither party shall have any <br />legal obligation to the other as a result of this agreement. <br />City Attorney Goodrich suggested the following language be added to paragraph 2: By this <br />agreement the City shall not be obligated to pay a fee to P.S.D., LLC. <br />Motion on the floor was amended as follows: To authorize execution with P.S.D., LLC for <br />development of option properties in Ramsey Town Center, with the stipulation that within 90 <br />days the agreement is outlined with better and more thorough criteria, and with the following <br />changes: <br />RECITALS <br />E. PSD is wiling to assist the City with the development of Ramsey Town Center as a whole <br />and the. Option Property in particular. The City desires the assistance of PSD with <br />respect to sueh the development of the option properties <br />AGREEMENT <br />1. "...for uses consisting of some or all of a hotel, health club /fitness center, cinemas, retail <br />stores, apartments, condominiums, community center or any other use approved by the <br />• City and as permitted by the City's option <br />City Council / December 28, 2006 <br />Page 25 of 27 <br />—133— <br />