HomeMy WebLinkAboutCity Council Resolution 1996-365•
CITY OF PLYMOUTH
RESOLUTION 96 - 365
CONDITIONALLY DESIGNATING FRAUENSHUH COMPANIES
AS DEVELOPER OF PROPERTY AT HIGHWAY 55 AND VICKSBURG LANE
AND DIRECTING STAFF TO NEGOTIATE A DEVELOPMENT AGREEMENT
WHEREAS, on April 17, 1996 the Plymouth City Council adopted Resolution 96-236, which
directed staff to issue a request for qualifications and statements of interest (RFQ) from
developers in order to select a partner to develop land at the northeast comer of Highway 55
and Vicksburg Lane for retail and entertainment uses, consistent with the Concept Plan and
Design Guidelines for the City Center Area; and
WHEREAS, following a meeting with City Center area property owners, the RFQ was mailed
on May 9, 1996 to selected developers and neat estate brokers, and a notice was published in
the Sun -Sailor, the City's official newspaper; and
WHEREAS, by the May 31, 1996 deadline for responses to the RFQ, two developers (Beard
Group and Frauenshuh Companies) submitted proposals; and
WHEREAS, on June 10 and June 19, 1996, the City Council's City Center Subcommittee met
to review the responses to the RFQ and interview the developers; and
WHEREAS, the Subcommittee has recommended that the City Council conditionally designate
the Frauenshuh Companies as developer of the property;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE
CITY OF PLYMOUTH, MINNESOTA, that it should and hereby does designate the
Frauenshuh Companies as developer of the 5 acres at the northeast corner of Highway 55 and
Vicksburg Lane, subject to the following conditions:
1. The developer shall, by July 10, 1996 deposit $25,000, in cash or letter of credit, as earnest
money and as security to cover out-of-pocket costs by the City to negotiate a development
agreement. These funds will be applied to the purchase price if a development agreement is
negotiated.
2. Frauenshuh Companies shall, by July 30, 1996 deliver to the City of Plymouth a letter of
intent or lease with a theater operator,
3. By September 30, 1996, Frauenshuh Companies shall have entered into a development
agreement approved by the Plymouth city Council,
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Resolution 96- 365
Page 2
FURTHER BE IT RESOLVED, that staff is hereby directed to negotiate a development
agreement with the Fmuenshuh Companies, subject to City Council approval, which must
include, but is not limited to the following terms:
a. The development agreement shall reflect all representations and commitments made by
Frauenshuh Companies in their response to the RFQ dated May 319 1996 and in their
subsequent letter to Community Development Director Anne Hurlburt dated June 19, 1996.
b. The developer shall agree to submit detailed plans and applications for site plan approval by
the City, meeting all applicable planning and zoning requirements, by a certain date.
c. The developer shall guarantee to purchase the land and construct the proposed development
under an established schedule.
d. The developer shall guarantee to construct the development design as approved, with a
minimum market valuation as provided in the agreement.
Adopted by the City Council on June 26, 1996.
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