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<br />.. <br /> <br />CITY OF NEW BRIGHTON <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION NO. 00-054 <br /> <br />A RESOLUTION AUTHORIZING EXECUTION AND <br />DELIVERY OF A FIRST AMENDMENT TO CONTRACT <br />FOR PRIVATE REDEVELOPMENT ,SY AND BETWEEN <br />THE CITY AND NHHI - NEW BRIGHTON, INC., FIRST <br />AMENDMENT TO ASSESSMENT AGREEMENT, AND <br />MEMORANDUM OF CONTRACT. <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 (i) a Contract for Private <br />Redevelopment, dated as of April 12, 1994 (the "Redevelopment Contract"), by and <br />between NHHI - New Brighton, Inc. (the "Redeveloper") and the City; (ii) an <br />Assessment Agreement, dated as of April 12, 1994 (the "Assessment Agreement"), by <br />and among the Redeveloper, the City, and the County Assessor of Ramsey County, <br />Minnesota; and (iii) a Memorandum of Contract for Private Redevelopment, dated as of <br />April 12, 1994 (the "Memorandum of Contract"), by and between the Redeveloper and <br />the City. <br /> <br />1.02 It has been proposed that the City amend the Redevelopment Contract <br />pursuant to a First Amendment to the Contract for Private Redevelopment (the "First <br />Amendment") with the Redeveloper. <br /> <br />1.03 As a result of the First Amendment it is necessary for the City andc <br />Redeveloper to enter into a First Amendment to Assessment Agreement (the "Amended <br />Assessment Agreement") and an amended and restated Memorandum of Contract for <br />Private Redevelopment (the "Amended Memorandum") to reflect the provisions of the <br />First Amendment. <br /> <br />Section 2. Findings. <br /> <br />2.01 The Council hereby finds that the First Amendment 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. 23 established pursuant to Minnesota Statutes, <br />Sections 469.174 to 469.179, inclusive, as amended and supplemented from time to <br />time. <br /> <br />\ <br /> <br />I <br />