04-13-2010 - Laserfiche WebLink

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April 13, 2010 Council Business 1. Consideration ofMemorandum ofTemvnation of Option with New Brighton 14th Sheet LLC (Ryan Companies US, Inc.) for Block D. Report No.10-097. Director of Community Development Grant Femehus reported DSI (formerly Transoma) is cvrreitly leasing space firom Ryan Companies. Ryan Companies has notified the City that it intends sell the Data Sciences International (DSI) building. Under the terms of the redevelopment agreement, Ryan has the right for up to five years to develop Block D for occupancy by DSI/Transoma. There is no upfront cost to Ryan for the option, however they would have to pay $100,000 to extend the option for 2011 and $200,000 for 2012. The option right would otherwise expire on September 30, 2010. Ryan is no longer interested in maintaining the option. Furthermore, DSI has indicated that they don't want the option either. As such, the parties have requested that the City enter into a Memorandum of Termination of Option which would formally extinguish the option rights. Motion by Councilmember Phillips, seconded by Councilmember Samuelson to approve the Memorandum of Termination of Option with New Brighton 14"' StreetLLC (Ryan Companies IIS, Inc.) for Block D. 5 Ayes, 0 Nays -Motion Carried I2. Consideration of Storm Water Drainage Easement Agreement with New Brighton 14th Street LLC (Ryan Companies US, Inc.) for DSI International, Inc. Site. Report No.10-098 Director of Community Development Grant Femehus reported the City of New Brighton and New Brighton 14th Street, LLC (Ryan) negotiated for the construction of a storm water pond that would serve the Transoma site. The redeveloper agreed to construct the pond and pay for a portion of the costs, while the City would continue to own the pond. The pond improvements were subsequently completed as part of the Transoma project (now known by the successor company DSI International, Inc.). However, the parties never memorialized the arrangement with a separate easement or maintenance agreement. Given the pending sale of the property, Ryan and the new buyer are asking to enter into a Stoma Water Drainage Easement Agreement with the City. Motion by Councilmember Phillips, seconded by Councilmember Burg to approve the - Storm Water Drainage Easement Agreement with New Brighton 141h Street LLC (Ryan Companies US, Inc.) for the DSI International, Inc. Site 5 Ayes, 0 Nays -Motion Carried Page 5 of 8 Council Business 1. Considerahmof Menamsdunof TeamnafimofOpuonweh New Brighmn 14' Stred LLC (RYmi Compaues US,Ina)forBlocka Report Na 10097 2Ca wdeanonof Stmm wataIkainageEmernart Ageetmrt wide New Brighton 141hSaedLLC (Ryan CmTani US, hi ) for DSI Int®national, hoc. Site. RqM No. 10098