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MINUTES OF THE <br />ORONO CITY COUNCIL MEETING <br />Moaday, October 22.2001 <br />7:00 o*clock p.in« <br />(02640/41 Dunbar Drvelopncnt, Continued) <br />GafTron 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 2 A agreement for the ofTice <br />building; the PUD 2B agreement for the senior housing facility; the rezoning ordinance; and the <br />development agreement relating to Orono Woods ApaiUnents. <br />GafTron noted Steve Rosholt. Anomey-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 arc not sold, how the City w ould 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 w ould <br />be a problem if the project does not go forward. <br />Rosholt slated 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 Ailomey, slated the City has the ability to rezone the property’ should the project not <br />be completed. <br />Flint inquired w hat document covers the management of the units. <br />Rosholt stated that would be covered in the ground lease agreement. <br />GafTron stated the Orono preference would be covered in Section 4.4. non-discrimination restrictions on <br />use. <br />While moved, Sanscverc 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 sccoaded, to approve and adopt RESOLUTION NO. 4764, a <br />Resolution Granting General Dcvelomenl Plan Approval for Planned Unit DcvcIopoMat No. 2 for <br />Orono Ambar, L.L.C., aad Approviag the Plat of Orono Ambar. VOTE: Ayes 4, Nays 0. <br />PAGE 14