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ii I' , I! Ii " ~ ~ .\ ,: Ii Ii .j ':1 CITY OF NEW BRIGHTON COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION NO. 04-053 A RESOLUTION AUTHORIZING EXECUTION AND DELIVERY OF CONTRACTS FOR PRIVATE REDEVELOPMENT WITH THE ROTILAND COMPANY, INC. AND SHERMAN ASSOCIATES, INC. I ~ il BE IT RESOLVED by the City Council (the "Council") of the City of New Brighton, : :i Minnesota (the "City") as follows: I Section 1. Recitals. i i: :; 1.01 The City previously executed a Term Sheet with The Rottlund Company, Inc. and H ii Sherman Associates, Inc. (the "Redevelopers") setting out the terms and conditions under which 'I ;, the City is willing to enter into a Contract for Private Redevelopment with each Redeveloper II relating to the redevelopment by the Redevelopers of approximately 52 acres of land in the il Northwest Quadrant of the 1-694 and 1-35W interchange west of Old Highway 8 (the "Property"). II " il I: d )1 Ii I I' ;1 ~ 1 1.02 It Redevelopment Redevelopment Redevelopers. has been proposed that the City enter into a Contract for Private with The Rottlund Company, Inc. and also a Contract for Private with Sherman Associates, Inc. (collectively, the "Contracts") with the i! Section 2. FindinQs. 2.01 The Council hereby finds that the proposed redevelopment which would be the :! subject of the Contracts promotes the objectives as outlined in its Restated Development !i Program (the "Program") established pursuant to Minnesota Statutes, Sections 469.124 to II 469.134, as amended. These objectives include the following: I; 1. Promote and secure the prompt development or redevelopment of certain property in the Development District NO.1 (the "Project Area"), which property is not now in productive use or in its highest and best use, in a manner consistent with the City's Comprehensive Plan, which will, where practicable mitigate existing adverse environmental conditions, and will cause a minimum adverse impact on the environment, and thereby promote and secure the development or redevelopment of other land in the City. 'I ;,i , ~ , 2. Promote and secure additional employment opportunities within the Project Area and the City for residents of the City and the surrounding area, thereby improving living standards, reducing unemployment and the loss of skilled and unskilled labor and other human resources in the City.