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MINUTES OF THE <br /> ORONO CITY COUNCIL MEETING <br /> Monday,October 22,2001 <br /> 7:00 o'clock p.m. <br /> (#2640/41 Dunbar Development,Continued) <br /> Gaffron stated the documents before the Council include the resolution for preliminary plat approval; a <br /> resolution approving the general development plan and final plat; the PUD 2A agreement for the office <br /> building; the PUD 2B agreement for the senior housing facility; the rezoning ordinance; and the <br /> development agreement relating to Orono Woods Apartments. <br /> Gaffron noted Steve Rosholt, Attorney-at-Law, is present at tonight's meeting in order to answer any <br /> questions relating to the development agreement. <br /> Flint inquired if the bonds are not sold, how the City would protect itself and go back to status quo. <br /> Rosholt stated the answer to Flint's question is two-fold,with the first part relating to approval of all the <br /> zoning issues. Rosholt stated the Council could elect to make those approvals subject to the successful <br /> sale of the bonds. The second issue before the Council relates to approval of the TIF District, which <br /> could also be made subject to the successful sale of the bonds. <br /> Flint stated he would like the City to return to status quo if there is not a successful sale of the bonds. <br /> Flint commented the developer would be required to come back to the City if he elects to use a different <br /> form of financing on this project. Flint inquired if the City approves the rezoning, whether that would <br /> be a problem if the project does not go forward. <br /> Rosholt stated the City could make it subject to the developer obtaining successful financing of the <br /> project within a certain period of time. <br /> Tom Barrett, City Attorney, stated the City has the ability to rezone the property should the project not <br /> be completed. <br /> Flint inquired what document covers the management of the units. <br /> Rosholt stated that would be covered in the ground lease agreement. <br /> Gaffron stated the Orono preference would be covered in Section 4.4,non-discrimination restrictions on <br /> use. <br /> White moved, Sansevere seconded, to approve and adopt RESOLUTION NO. 4703,a <br /> Resolution Approving the Preliminary Plat for Property Located at 2060 Wayzata Boulevard. <br /> VOTE: Ayes 4,Nays 0. <br /> White moved,Nygard seconded,to approve and adopt RESOLUTION NO.4704,a <br /> Resolution Granting General Develoment Plan Approval for Planned Unit Development No.2 for <br /> Orono Ambar,L.L.C.,and Approving the Plat of Orono Ambar. VOTE: Ayes 4,Nays 0. <br /> PAGE 14 <br />