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<br />~ , <br /> <br />CITY OF NEW BRIGHTON <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION NO. 02-073 <br /> <br />A RESOLUTION AUTHORIZING EXECUTION AND DELIVERY OF A <br />FIRST AMENDMENT TO THE CONTRACT FOR PRIVATE <br />REDEVELOPMENT BY AND BETWEEN THE CITY AND MAINSTREET <br />VILLAGE. LLC (MAINSTREET VILLAGE HOUSING PARCELS) <br /> <br />BE IT RESOLVED by the City Council (the "Council") of the City of New Brighton. <br />Minnesota (the "City"). as follows: <br /> <br />Section 1. Recitals. <br /> <br />1.01 The City has heretofore entered into a Contract for Private <br />Redevelopment dated as of January 8, 2002 (the "Redevelopment Contract") with <br />Mainstreet Village, LLC (the "Redeveloper"). The Redevelopment Contract <br />contemplates housing development to occur on the Redevelopment Property (as <br />defined in the Redevelopment Contract). <br /> <br />1.02 It has been proposed that the City and the Redeveloper amend the <br />Redevelopment Contract as provided for in this First Amendment to the Contract for <br />Private Redevelopment (the "First Amendment") between the City and the Redeveloper. <br /> <br />Section 2. Findinqs. <br /> <br />2.01 The Council hereby finds that the First Amendment reasonably <br />accommodates changes in the Redeveloper's development schedule and promotes the <br />objectives outlined in the City's Modified Development Program established pursuant to <br />Minnesota Statutes, Sections 469.124 to 469.134, inclusive, as amended and <br />supplemented from time to time, and the Tax Increment Financing Plan for Tax <br />Increment Financing District No. 26 established pursuant to Minnesota Statutes. <br />Sections 469.174 to 469.1791, inclusive, as amended and supplemented from time to <br />time. <br /> <br />Section 3. Approval of Documents and Authorizations. <br /> <br />3.01 The Council hereby approves the First Amendment. The Mayor and the <br />City Manager (the "Officers") are hereby authorized to execute and deliver the First <br />Amendment when the following conditions are met: (a) Substantial conformance to the <br />Amendment presented to the Council on this date, with such additions and <br />modifications as the Officers may deem desirable or necessary as evidenced by the <br />execution thereof; (b) Payment of $500.00. <br />