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June 11, 2013 Page 4 of 7 Community Development Director Femelius stated Pulte Homes approached the City in April 2012 about interest in a 27 acre tract of land in New Brighton Exchange (Block D for a potential single - family development. Council directed staff to work with the Planning Commission and EDC to seek feedback on Pulte's proposal, due to the fact that it was a departure from previous guide plans, which called for much higher density townhomes and condominiums. Advisory groups reviewed the concept during the summer of 2012 and expressed support. He explained Pulte and the City interested in to an Exclusive Negotiations agreement that gave the company until October 31, 2012 to investigate the site. He indicated the Council and Pulte met in December of 2012 to review the next steps. Staff and the developer were directed to work on details and a private contract was drafted. He commented that Pulte was proposing to build 86 single family homes and 34 townhomes, which would provide a 4.4 unit per acre density. The home pricing would be $385,000 and the townhomes would be priced around $170,000. A preliminary site plan was reviewed in detail with the Council and it was noted construction would begin in 2014. The Block I land price was $2,390,650 and the City would net $1,390,650 after the environmental remediation and soil import on the site was completed. It was noted Pulte would be installing the public improvements. The contract terms were fits her discussed. Staff recommended the Council adopt a Resolution authorizing execution of a Contract for Private Redevelopment between the City and Pulte Homes for the sale and redevelopment of land in New Brighton Exchange. Councilmember Samuelson thanked staff for the thorough report and presentation on this item. Councilmember Bauman commented Pulte was known for their high quality homes and felt the new development would be a draw for the City of New Brighton. Ion Peterson, Vice President of Pulte Homes, thanked the Council and staff for working with him through the entire planning process. He was looking forward to beginning this redevelopment project in New Brighton. Councilmember Bauman requested further information on the construction timeline. Mr. Peterson reviewed the timeline in detail with the Council noting the closing date was scheduled for October 15, 2013. After that time, grading and utility work would begin with home construction beginning in December. Councilmember Burg thanked the Council, staff and Pulte Homes for coming together on this project. She looked forward to seeing the new development completed in New Brighton. Councilmember Bauman appreciated the work conducted by the EDC for this redevelopment. Motion by Councilmember Jacobsen, seconded by Councilmember Samuelson to adopt a Resolution authorizing execution of a Contract for Private Redevelopment by and between the City of New Brighton and Pulte Homes of Minnesota, LLC for the sale and redevelopment of land in New Brighton Exchange. 5 Ayes, 0 Nays -Motion Carried Consider Resolution approving a term sheet with AN Group, Inc. for development of an office building in New Brighton Exchange. Resolution No. 13 -137. Resolution No. 1344. City Manager Lotter stated Community Development Director Femelius would be providing the Council with a report on this item. Community Development Director Femelius stated staff has been in discussions with APi Group for over a year on an office expansion project in New Brighton Exchange. The discussions last summer were initially focused on completion of the 9,000 square foot building on their existing campus, but have since shifted toward a much larger project on the four acre site referred to as Block G. AN met with the Council last December and shared their plans to build up to 75,000 square feet of office space in two different buildings. After negotiations with the company, staff has worked out a term sheet for Council consideration. Community Development Director Femelius reviewed the term sheet in detail and recommended the Council adopt a Resolution authorizing execution of a Term Sheet between the City and AN Group for the sale and redevelopment of land in New Brighton Exchange. 3. Consider Resolution approving aterm sheet with AN Group, fnc. for development of an office building in New Brighton Exchange. Resolution No. 13 -137. Resolution No. 13-044.