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CITY OF NEW BRIGHTON COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION NO. 14- A RESOLUTION AUTHORIZING EXECUTION AND DELIVERY OF A CONTRACT FOR PRIVATE REDEVELOPMENT BETWEEN THE CITY, CARDIOVASCULAR SYSTEMS, INC. AND RYAN COMPANIES US, INC. BE IT RESOLVED by the City Council (the "Council ") of the City of New Brighton (the "City ") as follows: Section 1. Recitals. 1.01. It has been proposed that the City enter into a Contract for Private Redevelopment (the "Agreement ") with Ryan Companies US, Inc. a Minnesota corporation ( "Ryan ") and Cardiovascular Systems, Inc., a Delaware corporation ( "CSI ") for the purposes of an office project in New Brighton Exchange. 1.02. At the direction of the Council, the City, Ryan and CSI have been negotiating on the terms and conditions for the sale of approximately 10 +/- acres of land (the "Redevelopment Parcel ") and development of a 116,000 +/- SF office building and associated surface parking on said property. 1.03. The Redevelopment Parcel is legally described as Lot 1, Block 1, New Brighton Exchange 2nd Addition, Ramsey County, Minnesota. 1.04. In addition, the Agreement includes provisions for the construction of Minimum Improvements by Ryan and paid for by CSI; and the construction of certain public improvements and environmental remediation by Ryan to be paid for (in part) by the City and Ryan; all of which will be completed on or adjacent to the Redevelopment Parcel. 1.05. The Agreement also grants certain rights to CSI to acquire additional land (the "Option Parcel) of approximately 3.7 +/- acres and generally described as Block E in the New Brighton Exchange Framework Plan. Section 2. Findings. 2.01. The Council hereby finds that the Agreement as presented promotes the objectives as outlined in its Development Program established pursuant to Minnesota Statutes, Section 469.001 et seq.