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11/19/97 Deal Points for Rosauers Development Agreement"Deal Points" for Rosauers' Development Agreement Conditions Rosauers, Inc. Comments Purchase Price Offered $743,311 ($3.25 per square foot) Less Deductions: Broker Fee(frorn proceeds) (none stated in proposal) City Paid On -Site Improvements Requested (none stated in proposal) Net Sale Proceeds to City $743,311 Ernest Money Submitted $37,166 Proposal meet the 5% minimum required Square Feet of Land Purchased 228,690 5.25 Acres Land Value per Square Foot Gross Purchase Price per sq. ft. $3.25 Net Purchase Price per sq. ft. $3.25 Construction Begins 09/30/99 Value of Land & Improvements $4 Million+ No protest of property taxes based on income approach (Year 2001 and beyond - Per Rosauers) for a period of 10 years (same wording as Irwin Davis Agreement) Closing Date: Transfer of Title and Development Agreement December 23, 1997 City permitted to use ballfields until end of 1998 playing season. Agreement to be signed by: Rosauers Supermarket, Inc. Lary D. Geller, CEO Candi J. McElderry, Corporate Secretary Utility Issues Traffic Signals 3rd Ave. East & Hwy 93 South Paid by City Installed by City in conjunction with Hwy 93 S. reconstruction or Kelly Road & Hwy 93 South Paid by City sooner if warranted by private development. Temporary signal may be necessary at 3rd Ave. E. intersection if development occurs prior to highway reconstruction. Storm Drain Paid by Developer City will grant easement for retention pond on City Airport property. Size of easement to be determined by calculating all of the drainage from the private development based on a 10 year-6 hour storm per MDOrs Hydraulic Manual. Retention pond shall be a minimum of 30 feet from the sanitary sewer line easement to be established along the east property line of the City Airport. The westerly edge of the easement shall be no closer than 150 feet to the center line of the existing runway, with no land configuration higher than the elevation of the runway. (To be verified by architect and Morrison-Mariele, Tim Orthmeyer) Sanitary Sewer (8" line per PWD specifications) Paid by Developer Extend the sanitary sewer line north from a new man -hole adjacent and connecting to the existing sanitary sewer line adjacent to the southwest comer of Daley Field. Line to be located in 30 foot wide easement, granted by City, along the east property line of City Airport. Line shall be extended to the north property line of Rosauers, orto that point shorter where gravity flow requirements can no longer maintain a 3 foot cover. Line shall terminate with a man -hole, and man -holes shall be installed every 450 lineal feet from the southern junction to the northern terminus Water Paid by Developer Available per PWD, see Offering Document for Details Electrical Paid by Developer Available per Pack Power, see Offering Document for Details Natural Gas Paid by Developer Available per MPC, see Offering Document for Details Telephone Paid by Developer Available per PTI, see Offering Document for Details Cable TV Paid by Developer Available per TCI, see Offering Document for Details Fees, Permits, Connections (All) Paid by Developer jI�I�CJ•f'` , 19-Nov-97