Common Contracts
1 similar Term Sheet contracts
Park Components Term SheetTerm Sheet • November 2nd, 2021
Parcel(s): Park Parcel (Exhibit A) totaling approximately 19.5 acres Minimum Improvements: • The City of Minneapolis acting by and through its Minneapolis Park and Recreation Board (“MPRB”) will commit to a first phase of park improvements on the Park Parcel (identified as Lot 3, Block 1 on the preliminary plat attached hereto as Exhibit A) with an estimated budget as reflected on the sources and uses on Exhibit C , inclusive of the “Park Demo and Grading Work” costs described below. The Minimum Improvements will include pedestrian and bike trails connecting to public sidewalks & trails along Dowling Avenue and continuing through the site to 33rd Avenue and land cover over the entire Park Parcel as well as a significant park area in the Park Parcel near the Dowling Avenue consistent with the concept plan attached hereto as Exhibit B.• MPRB will apply state bond and local funding to the first phase park improvements consistent with the estimated sources and uses (as shown on Exhibit C,
