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~ I ,ll,' >01 , ' I: CITY OF NEW BRIGHTON COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION NO. 03-. 077 ,; A RESOLUTION AUTHORIZING NEGOTIATI N, EXECUTION AND I DELIVERY OF A PURCHASE AGREEMENT B TWEEN THE CITY OF : NEW BRIGHTON, MINNESOTA AND HARRY M RKLEY FOR THE REAL i: PROPERTY LOCATED AT 1853 OLD HIGHWAY 8 NW, NEW BRIGHTON, . MINNESOTA , , ; i :! BE IT RESOLVED by the City Council (the "Cou cil") of the City of New Brighton, Min~.sota (the "City") as follows: Section 1. Recitals. "1.01 The Council previously found that relocati n of Beisswenger's New Brighton Hard~are, Inc. from its current site at 1360 Old Highwa 8 NW to a new site to be acquired by ttlle City comprised of the parcels at 1823, 1853, 1873 and a portion of 1951 Old HighWay 8 promotes the objectives outlined in the City' Restated Development Program estaplished pursuant to Minnesota Statutes, Sections 69.124 to 469.134, as amended. 1.02 The City has presented to Harry Ma kley a purchase agreement (the "Purdhase Agreement"), attached as Schedule A, outli ing the terms and conditions under whidtj the City is willing to purchase the real property I cated at 1853 Old Highway 8, New Brighiton, Minnesota, PIN #16-30-23-33-0005 (the "P operty"). Section 2. Findings. 2.01 The Council hereby finds that acquis tion of the Property promotes the objebtives of the Modified Development Program. 2.02 The Council hereby finds that the Pro erty is located in an area which the Council intends to include in a new tax increment fin ncing district pursuant to Minnesota Stat~tes, Sections 469.174 through 469.1799, incl sive, and Laws of Minnesota 1998, Chapter 389, Article 11, Section 24, all as amended and supplemented from time to time.