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<br />CITY OF NEW BRIGHTON <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION NO. <br /> <br />01-087 <br /> <br />A RESOLUTION AUTHORIZING EXECUTION AND DELIVERY OF A CONTRACT <br />FOR PRIVATE REDEVELOPMENT BY AND BETWEEN THE CITY OF NEW <br />BRIGHTON, MINNESOTA AND NEW BRIGHTON LEASED HOUSING ASSOCIATES <br />I, LIMITED PARTNERSHIP (MAl NSTREET VILLAGE PROJECT, HOUSING PARCELS) <br /> <br />BE IT RESOLVED by the City Council (the "Council") of the City of New <br />Brighton, Minnesota (the "City") as follows: <br /> <br />Section 1. Recitals. <br /> <br />1.01 It has been proposed that the City enter into a Contract for Private <br />Redevelopment (the "Contract") with New Brighton Leased Housing Associates I, <br />Limited Partnership (the "Redeveloper") for the development of certain real estate <br />described therein (the "Property"). <br /> <br />Section 2. Findings. <br /> <br />2.01 The Council hereby finds that the Contract promotes the objectives as <br />outlined in its Modified Development Program established pursuant to Minnesota <br />Statutes, Sections 469.124 to 469.134, as amended. <br /> <br />2.02 The Council hereby finds that it has approved and adopted Tax <br />Increment Financing District No. 26 and the Council has approved and adopted the <br />Tax Increment Financing Plan relating thereto pursuant to Minnesota Statutes, <br />Sections 469.174 through 469.179, inclusive, as amended and supplemented from <br />time to time. <br /> <br />Section 3. Authorizations. <br /> <br />3.01 The Mayor and the City Manager (the "Officers") are hereby <br />authorized to execute and deliver the Contract when the following conditions are <br />met: <br />A. Substantial conformance of the Contract to the agreement <br />presented to the City as of this date with such additions and <br />modifications as the Officers may deem desirable or necessary <br />as evidenced by the execution thereof; <br /> <br />B. Payment of $10,000.00; <br />