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Ii I! :1 i j I , I REsOLUTION No. 95-060 ! STATE OF MINNESOTA COUNTY OF RAMSEY CITY OF NEW BRIGHTON REsOLUTION APPROVING AND AUTHORIZING THE PURCHASE OF LAND (W ALBON PROPERTY) FOR $234,000. 1. RECITALS (a) Pursuant to and in furtherance of the powers granted to it by Minnesota Statutes Sections 469.124 through 469.134 (the" Act"), the City has heretofore created and established its development project known as Development District No.1 ("Development District") in an area (the "Project Area") located in the City. (b) Pursuant to the Act, the City has approved a Development Program for the Development District which contains as its stated objective the acquisition and subsequent sale or lease of lands within the Development District to developers for development (c) In accordance with the stated objective of the Development Program, the City Staff has negotiated a proposed stipulation agreement for the purchase of the property at 860, 884, and 900 - 6th Avenue NW lying within the Development District and has presented the proposed purchase terms to the City Council for its consideration. 2. The City Council hereby approves the purchase of the property at 860, 884, and 900 - 6th Avenue NW, authorizes preparation of a stipulation agreement ("Agreement") in substantially the fonn presented and hereby authorizes the Mayor and City Manager to execute the same on behalf of the City with such additions or modifications as those officers may deem necessary, as evidenced by their execution thereof. 3. Upon execution of the Agreement as herein authorized, the officers and employees of the City are hereby authorized and directed to take all actions as are necessary to satisfy the City's obligations under the Agreement. :; Adopted this 25th day of July, 1995. " ,i ~ ~$~ atthew S. Fulton, City Manager ATTEST: I ., M~ Finance Director/City Clerk :i (SEAL)