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October 12,2021 Page 7 of 9 <br /> Carried <br /> Mayor Niedfeldt-Thomas recessed the City Council meeting at 8:30 p.m. <br /> Mayor Niedfeldt-Thomas reconvened the City Council meeting at 8:38 p.m. <br /> Council Business <br /> 1. Consider a Resolution Approving a Final Planned Residential Development at Council Business <br /> pp g p 1. Consider a <br /> 2299 Palmer Drive. Resolution Approving <br /> a Final Planned <br /> CityManager MassopustDirectorof i indicated Assistant Community Development Gozola would Residential <br /> optml <br /> g �'Assets and <br /> Development at 2299 <br /> be presenting this item to the Council. Palmer Drive. <br /> Assistant Director of Community Assets and Development Gozola stated US Bank National Association <br /> and North Shore Development Partners are seeking approval of a Final Planned Residential <br /> Development to authorize a redevelopment project for the former US Bank site at 2299 Palmer <br /> Drive. The new building will be a highly-amenitized 132-unit multifamily building. <br /> Preliminary approval for this development was granted by the City Council on August 24, <br /> 2021. He reported staff and the Planning Commission both find the Final PRD is in substantial <br /> compliance with the preliminary approval and staff recommends approval with the listed <br /> conditions. <br /> Motion by Councilmember Abdulle,seconded by Councilmember Allen to adopt a Resolution <br /> approving a final Planned Residential Development at 2299 Palmer Drive. <br /> 5 Ayes,0 Nays-Motion Carried <br /> 2. Consider Resolution to Approve a Contract for Private Redevelopment at 2299 Palmer <br /> Drive. 2.Consider Resolution to <br /> Approve a Contract for <br /> Private Redevelopment at <br /> City Manager Massopust indicated Community Assets and Development Director Schlichting would be 2299 Palmer Drive. <br /> presenting this item to the Council. <br /> Community Assets and Development Director Schlichting stated a development agreement is a voluntary <br /> contract between a local jurisdiction and a person who owns or controls property within <br /> the jurisdiction, detailing the obligations of both parties and specifying the standards and <br /> conditions that will govern development of the property. Staff reviewed the proposed contract <br /> in further detail with the Council and recommended approval. <br /> Mayor Niedfeldt-Thomas asked if this was a voluntary contract. Assistant Director of Community <br /> Assets and Development Gozola reported this was a contract and both parties have agreed to enter into the <br /> contract to protect both parties. <br /> Mayor Niedfeldt-Thomas questioned how watershed impacts would be addressed.Community Assets and <br /> Development Director Schlichting explained the developer would be required to receive a watershed permit. <br /> He noted plans have been submitted to the watershed district and staff was comfortable with this project <br /> moving forward from an engineering basis. <br /> Motion by Councilmember Dunsworth,seconded by Councihnember Allen to approve a Contract for <br /> Private Redevelopment with 2299 Palmer LLC for a 132-unit multifamily rental housing facility. <br /> 5 Ayes,0 Nays-Motion Carried <br /> 3. Consider Resolution Approving and Authorizing the Execution of a'1'll~Assistance <br /> Agreement and Approving Amendment to TIF Plan at 2299 Palmer Drive. 3.Consider Resolution <br /> Approving and <br />