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<br />Council's authorization of the Ramsey Crossings area as a redevelopment area, eminent domain . <br />action, the selection of Robert Mnir Company (RCM) as the preferred developer, and the <br />exclusive negotiation agreement With RCM, Mr. Lasher indicated tonight the development <br />agreement with ReM is before the Council for review and comment. <br /> <br />Mr. Lasher stated the Ramsey Crossings site plan inc1ndes three primary bniIdings, RCM is in <br />negotiations with Target for the first bniIding site. There will also be a lnmber 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 sqnare feet oflarge 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 ntiIities will be placed inside ofSnnwood Drive and will <br />allow for fufure 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 /> <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 pnrchase the <br />development property from the City. The City will enter into a purchase agreement to assemble <br />all 16 parcels, and in Jnly 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 darrein a timely fashion there would be a quick take process to assure the City has <br />the property by Jnly' 2007, RCM has agreed to pay for offsite improvements in the amonnt of <br />$1,747,488.00 and to be assessed 50% for the 116'" Street extension. RCM has agreed to begin . <br />construction in Jnly of 2007, and plans to have the primary Phase I open in October of 2008. <br />Target will be first bnilding to come forward for site plan approval; it will take approximately 1- <br />~ years to build out Phase I from the time Target opens. <br /> <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 /> <br />Mayor Gamec noted- Section 4.1 refers to the use of TIP funds. He requested clarification that <br />TIT funds will be used for utilities and street work, not for the particular businesses. <br /> <br />Attorney Tom Bray, Briggs and Morgan, replied Section 4.1 is a list of conditions that would <br />allow the City or developer to terminate this agreement. This section indicates that a condition <br />to this agreement is the City's adoption of the TIP District. <br /> <br />Mr, Lasher clarified the purpose of TIP funds as outlined in the Tax Increment Plan was to cover <br />costs of public infrastructure, roads, utilities and improvements within the project area. TIP <br />funds will be able to be used for projects within the defined area, as well as 25% of the TIP funds <br />are allowed for projects in the larger district area <br /> <br />Councilmember Elvig requested clarification that TIP funds will be used for infrastructure that <br />will benefit the retail uses; fu dollars will not be nsed to construct bniIdings. <br /> <br />Mr, Lasher stated TIP funds will only be nsed for roeds and infrastructnre. <br /> <br />City Conncll! December 28, 2006 <br />Page 12 of 26 <br /> <br />. <br /> <br />P24 <br />