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<br />Mayor Gamec noted in the past the City has required developers to install or pay for traffic <br />lights; however, in this agreement it appears that the City is providing that traffic light with the . <br />County, <br /> <br />Mr. Lasher explained RCM has agreed to pay 50% of ilie cost of the iliture signal at ilie new <br />intersection of C.R. # 116 and ilie Sunwood Drive extension. RCM will also be paying offsite <br />improvements of approximately $1,7 million, a portion of which would be dedicated to ilie new <br />signal at C.R, #116 and Armstrong Boulevard, <br /> <br />Mayor Gamec requested clarification thet MSA funds will be used for ilie extension of Sunwood <br />Drive. <br /> <br />Civil Engineer II Linton indicated ilie TKDA proposal for ilie design of Armstrong Boulevard <br />was approved by the Council approximately one year ago, and this work is proceeding. The <br />Ramsey Town Center project necessitated"upgrades of the regional roadway improvements. The <br />monies Mr, Lasher has referred to iliat this developer will dedicate to ilie City will be Used to <br />offset some of ilie costs that have already been incurred, and will pay for ilie difference between <br />what was envisioned in the design for Ramsey Town Center and now this Ramsey Crossings <br />project. The project is underway, but it is still early enou~ to incorporate the needed changes. <br /> <br />Mayor Gamec asked if there will be another letter of credit provided in regards to construction <br />with funds released as work is completed. <br /> <br />Mr. Bray advised the provisions in this area are similar to the City's standard development . <br />agreement. <br /> <br />Mayor Gamec thanked Mr. Bray, Mr. Lasher, and City staff for their work ill ensunng <br />everything is covered in this agreement and that this project can move forward. <br /> <br />CounciJmember Elvig commented it seems this is a generous offer the City has been able to <br />negotiate with RCM, He expressed his support of Target being involved in ilie project. He <br />requested information regarding the interest in the City of Ramsey by those involved in this <br />project, <br /> <br />Mr. Lasher stated in the construction of the original request for proposals (RFP) and discussions <br />with a number of developers who responded to the RFP, one thing that was noticeable to them <br />about the site was the future crossing and how this become a "two-for" in locating a store at a <br />location wiili Highway 10 and ilie future river crossing with a fully signalized interchange. They <br />are getting ahead of the curve, knowing the rooftops for a .standard Target might not be here, but <br />the future is grand with this area and the improvements on TH 10. Many of the major retailers <br />are more preventing someone else from putting a store at this location. The river crossing was <br />the thing he heard most from the developers that will make this location premier. <br /> <br />City Attorney Goodrich recommended the following language be included in the motion for <br />approval: ''In substantial form of the attached agreement, subject to final approval of the <br />agreement terms by the City's legal counsel." <br /> <br />. <br /> <br />City Council! December 28, 2006 <br />Page 14 of26 <br /> <br />P26 <br />