Resolutions-2017-078

6. Grading. The City agrees that Developers may begin grading the Development Property, including the grading of proposed City streets, storm water detention facilities and development lots without the approval of a Preliminary Plat for all of the Development Property provided the grading plans are submitted to the City and approved by the City. 7. Park Road Upgrade. The City agrees to undertake the construction of improvements to Park Road from Highway 6 to the storm sewer intake that is to be located north of the north line of Lot 1, Simpson First Addition ("Park Road Upgrade") in accordance with the plans and specifications as set forth on Exhibit D hereto. The City agrees to complete the construction of the Park Road Upgrade by no later than the opening of the interchange at Interstate 380 and Forevergreen Road, subject to extraordinary circumstances or factors outside of City control. 8. Storm Water Detention. The City agrees that it will accept title to the Storm Water Detention facilities located in Parts 1, 2, and 3, provided that the facilities are constructed in accordance with plans approved by the City, and provided that each facility is in good, suitable condition at the time of said dedication, and acceptable to the City. 9. Oakdale Boulevard, Forevergreen Road and Park Road. The parties acknowledge and agree that Oakdale Boulevard and Forevergreen Road are to be arterial streets developed by Developers through the Development Property. Except as provided in Paragraph (A)(7) of this agreement, Developers are also responsible for constructing and improving Park Road north of Highway 6 to the intersection of Forevergreen Road, pursuant to the construction plans approved by the City. These streets, including all water, sanitary sewer, storm sewer, drainage way, underground utilities, curb and gutter, shall be constructed on the Development Property, or within current City right of way, pursuant to the plans approved by the City, by December 1, 2020. 10. Park Space. The City agrees that the required park space for the Development Property may be satisfied by Developers collectively providing open space and park property comprised of the following: (1) City Center Park which shall consist of 3.5 acres located in the NE ¼ SW ¼ of Section 22-80-7 and the SE ¼ SW ¼ of Section 22-80-7, as shown on Exhibit F (exact location to be determined by City) and shall include trees, benches, pedestrian sidewalk, lights with banner arms, and outdoor sound system, with specific plans as agreed to by the City; (2)Water Tower and Park Site (as described in Paragraph 4); and (3) an eight foot pedestrian sidewalk as described below. Such pedestrian sidewalk shall begin at Forevergreen Road in the Southwest Quarter of Section 22-80-7, then run south along or near the east line of Parts 1 & 2, then cross Oakdale Boulevard. The sidewalk then runs west along the south side of Oakdale Boulevard and will end at the east line of Outlot B. The sidewalk will also continue between Lots 110 and 111, and 143 and 142 as shown on the preliminary plat for Part 3 in the Northeast Quarter of the Northwest Quarter of Section 27-80-7. 11. Tax Increment Financing Agreement. The City has approved a development agreement with one or more of the Developers, or a related party, that provides for the division of incremental property taxes and the payment thereof to aid in the development of certain parts of the Development Property by reimbursing some of the cost of construction of some of the Infrastructure Project.