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1.05. On April 8,2014 the City and Pulte entered into a Restated and Amended Contract for Private Redevelopment ("Restated Agreement") that modified some of the key dates for closing, commencement of construction and completion of construction. 1 .06. Despite Pulte's efforts to obtain all necessary governmental approvals forthe Redevelopment Property, Pulte did not received approvalfrom the MPCAfor the Responsive Action Plan ("RAP") in time close on the Redevelopment Property under the terms and conditions of the Restated Agreement. Pulte and the City desire to extend the Closing Date as defined in the Restated Agreement from June 30,2014 to September 15,2014. Allotherterms and conditions would remain the same. Section 2.Findinqs. 2.01 The Council hereby finds that the Restated Agreement promotes the objectives outlined in the City's Modified Development Program established pursuant to Minnesota Statutes, Section 469.124 et seq, and the Tax lncrement Financing Plan for Tax lncrement Financing District No. 31 and 314 (NWQ Special Law), established pursuant to Minnesota Statutes, Section 469.174 et seq. and Laws of Minnesota 1998, Chapter 389, Article 11, Section 24. Section 3. 3.01 The Council hereby approves the First Amendment to the Restated Agreement with Pulte Homes of Minnesota, LLC as presented and authorizes the Mayor and City Manager ("Officers") to execute and deliver the First Amendment to the Restated Agreement when the following condition is met: Substantial conformity of the First Amendment to the Restated Agreement to the form of contract presented to the City as of this date, with such additions and modifications as the Officers maydeem desirable or necessary as evidenced by the execution thereof. Adopted by the Council of the City this 24th day of June, 2014- Dave J bsen, Mayor Dean R. Lotter nager IL\RESOLUTIONS\20 l4\Community Development\Pulte 1 st Amendment (Final).doc and Amended Redevelopment