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Report Number 12-196 <br /> N�W Agenda Section VIII-1 <br /> Ili <br /> BRI � 1. Council Meeting Date August 15, 2012 <br /> the city that works for you <br /> REQUEST FOR COUNCIL CONSIDERATION <br /> ITEM DESCRIPTION: Consider Resolution Authorizing Execution and Delivery of a Contract for <br /> Exclusive Negotiations with Pulte Homes of Minnesota, LLC for a proposed residential development in <br /> New Brighton Exchange. <br /> DEPARTMENT HEAD'S APPROVAL: Grant Fernelius, Community Development Director <br /> CITY MANAGER'S APPROVAL: <br /> /21No comments to supplement this report Comments attached <br /> Recommendation: <br /> Staff recommends that the City Council approve the attached resolution authorizing the execution and <br /> delivery of a Contract for Exclusive Negotiations with Pulte Homes of Minnesota, LLC for a proposed <br /> residential development in New Brighton Exchange. <br /> Legislative History: <br /> None <br /> Financial Impact: <br /> None <br /> Explanation: <br /> This past spring, Pulte Homes of Minnesota, LLC (Pulte) approached the City about the company's <br /> interest in developing roughly 26 acres on the west side of Old Highway 8 NW in New Brighton <br /> Exchange. The City Council directed Pulte and City staff to review the concept plans with the Planning <br /> Commission and Economic Development Commission to gauge feedback on the proposal, which called <br /> for a mix of single family homes and a limited number of townhomes. The commission meetings <br /> occurred in June and both groups provided good feedback and expressed interest in learning more. <br /> On June 26, 2012 the City Council held a work session to meet with Pulte and discuss the concept plans. <br /> The general consensus of the Council was to keep working with the company. Pulte has since expressed <br /> an interest in doing further due diligence on the site, including soil testing and other evaluation work. <br /> Because this will involve a fairly significant amount of resources, the company would like a <br /> commitment from the City that it will not negotiate with other parties while they are conducting due <br /> diligence activities. <br /> The attached Contract for Exclusive Negotiations was drafted by George Hoff, the City's redevelopment <br /> counsel. It commits the parties to work together for the next 2-1/2 months (October 31, 2012). At that <br /> point, Pulte will make a decision if they want to proceed and start contract negotiations or terminate <br /> their interest. <br /> I:\COUNCIL\REPORTS\2012\Community Development\8-15-2012\Pulte Agreement.doc(Final-1).doc <br />