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CITY OF NEW BRIGHTON <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br />RESOLUTION NO. <br />12-062 <br />A RESOLUTION AUTHORIZING EXECUTION AND DELIVERY OF A <br />CONTRACT FOR EXCLUSIVE NEGOTIATIONS WITH PULTE HOMES <br />OF MINNESOTA, LLC. <br />BE IT RESOLVED by the City Council (the "Council") of the City of New Brighton, <br />sota (the "City") as follows: <br />Section 1. Recitals. <br />1.01 The Council previously met with Pulte Homes of Minnesota, LLC <br />(Re' <br />Re veloper) on June 24, 2012 about the Redeveloper's interest in constructing a mix of <br />sing -family homes and townhomes (Project) on a 26 acre tract of land (Block 1) in New <br />Brig on Exchange. <br />1.02 The Council directed City staff and the Redeveloper to work together and <br />additional details of the Project. <br />1.03 The Redeveloper is requesting that the parties enter into a Contract for <br />Ex, sive Negotiations (Agreement) that would grant them exclusive rights to negotiate with <br />the ity to develop the Project on Block I until October 31, 2012, including the right to <br />con ct due diligence activities. <br />Section 2. Findings. <br />2.01 The Council hereby finds that the Project may promote the objectives <br />outlined in the City's Modified Development Program established pursuant to <br />Minnesota Statutes, Section 469.124 etseq, and the Tax Increment Financing <br />Plan for Tax Increment Financing District No. 31 and 31A (NWQ Special Law), <br />established pursuant to Minnesota Statutes, Section 469.174 etseq. and Laws <br />of Minnesota 1998, Chapter 389, Article 11, Section 24. <br />Section 3. Approval of Contract for Exclusive Negotiations. <br />3.01 The Council hereby approves the Agreement with Redeveloper and directs <br />the ayor and City Manager (Officers) to execute and deliver the Agreement when the <br />folio inq condition is met: <br />