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EHLERS <br /> • & ASSOCIATES INC <br /> 0 To: Catherine Mehelich,City of Elk River <br /> From: Jim Prosser, Ehlers &Associates <br /> W Date: September 16,2002 <br /> Subject: MetroPlains Preliminary Development Agreement Issues <br /> Provided below is a summary of proposed preliminary development agreement issues: <br /> 1. The City/HRA will not provide financial assistance to any other developer within designated <br /> developer within the designated redevelopment area for the period of the agreement. <br /> 2. The City/HRA will not provide utilize its eminent domain powers to assist any other <br /> developer within the designated redevelopment area for the period of the agreement. <br /> 3. The City and MP will need to agree on redevelopment site boundaries. <br /> 4. Developer will deposit funds($25,000)to cover costs of City out of pocket expense for <br /> planning, finance and legal fees incurred by the City relating to predevelopment activities. <br /> Fund to be replenished when balance is below$5,000. <br /> 5. Agreement will define preliminary development period. This should provide adequate time <br /> to get to final development agreement(typically 4-6 months). <br /> 6. A general description of project should be provided, i.e. development program may include <br /> retail,multi-family housing and office. <br /> 7. Developer will conduct public open house to solicit public input on refined site plan before <br /> submission with final development agreement. <br /> 8. Plans submitted will be in accordance with City design guidelines. <br /> 9. The City should communicate willingness to assist with site assembly(eminent domain) and <br /> financial assistance(tax increment financing). <br /> 10. Developer and City should identify contingencies including: <br /> o Ability to qualify and establish tax increment district. <br /> o Environmental assessment <br /> o Regulatory approvals <br /> o Title commitments <br /> o Financing <br /> • LEADERS IN PUBLIC FINANCE <br /> 3060 Centre Pointe Drive Phone: 651-697-8503 Fax: 651-697-8555 <br /> Roseville, MN 55113-1105 Email: jim @ehlers- <br /> inc.com <br />