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<br />1 ; <br />i I <br /> <br />: l <br /> <br />RESOLUTION NO. 03-06R <br /> <br />, i <br />i <br /> <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br /> <br />RESOLUTION AUTHORIZING ACQUISITION OF REAL PROPERTY <br />LOCATED AT 1275 OLD HIGHWAY 8 NW, NEW BRIGHTON IN THE <br />NORTHWEST QUADRANT <br /> <br />i <br />" <br /> <br />: I <br />1 ; <br />; ! <br /> <br />WHEREAS, <br /> <br />A. The Northwest Quadrant Redevelopment Area is an area approximately <br />92 acres in size located at the northwest quadrant of the intersection of <br />Interstate Highways 694 and 35W. The redevelopment area is generally <br />bounded by Interstate 694 to the south, Interstate Highway 35W and First <br />Street NW to the east, the Minnesota Transfer Railway spur line to the <br />west and the Minnesota Transfer Railway spur line and Old Highway 8 <br />to the north (the "Redevelopment Site"). <br /> <br />i <br />! i <br /> <br />B. The City wishes to redevelop the Redevelopment Site. <br /> <br />, ~ <br /> <br />C. The City wishes to purchase two parcels of land generally located at <br />1275 Old Highway 8 NW from Grace Haines, as the widow and sole <br />survivor of Ted Haines (the "Haines Property"); <br /> <br />D. <br /> <br />The Haines Property is located in the Redevelopment Site. <br /> <br /> <br />E. Mrs. Haines is willing to sell the Haines Property to the City pursuant to <br />the tenus of a Letter of Intent attached hereto as Exhibit A (the "Letter <br />of Intent"). <br /> <br />NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE <br />CITY OF NEW BRIGHTON: <br /> <br />. , <br /> <br />1. <br /> <br />That the acquisition of the Haines Property will further the City's <br />plans to redevelop the Redevelopment Site and as such, the <br />acquisition is in the best interest of the City. <br /> <br />2. That the City hereby resolves to purchase the Haines Property. <br /> <br />- 1 - <br />