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go. Fernelius responded the City would receive any surplus funds from closing; and any <br /> higher environmental costs would be Pulte's responsibility. <br /> Chair Zisla asked if the City is satisfied with the $1,000,000 estimate. Fernelius reported <br /> that Pulte will do ground water and soil testing and the City will see the test results, and <br /> determine if the $1,000,000 estimate is reasonable. Landsman noted they(Pulte)have <br /> 120 days due diligence period, and they can back out of the deal. <br /> Commissioner Murlowski recommended a cap on the estimates, as soil costs can be very <br /> volatile. <br /> Councilmember Burg expressed concern with whether the top-soil is included in the <br /> contract. Fernelius stated the assumption is that the fill will get the parcel to a finished <br /> grade. Fernelius also stated one of the concerns with Pulte's offer was related to the title <br /> warranties, noting the City wanted more specificity. <br /> Fernelius reported that Pulte struck the right-of-reverter language from the contract, and <br /> the City sees that as problematic. Landsman stated that the City has asked for a counter <br /> offer on the right-to-reverter. Fernelius and Landsman stated they think an agreement <br /> will be reached. <br /> The consensus of the commission was the negotiations are progressing well. Chair Zisla <br /> suggested the City will want to be mindful of the over-run issue. <br /> Motion by Commissioner Potter, seconded by Commissioner Carrell to exit the <br /> closed session at 8:50 am. <br /> 6 Ayes-0 Nays, Motion carried <br /> At 8:50 am Scott Landsman stated that the Commission will exit the Closed Session <br /> pursuant to Minnesota Statute 13D.05, Subdivision C3 to discuss the offer and <br /> counter-offer of the sale city owned property identified as Block I-New Brighton <br /> Exchange. <br />