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5 <br />improvements, local street modifications to reduce traffic impacts, street <br />construction or repaving, curb and gutter construction or replacement and <br />streetlight installation or updating. <br /> <br />14. Encourage infill development and redevelopment that is compatible in use and <br />scale with surrounding neighborhoods. <br /> <br />15. Rehabilitate existing housing stock and preserve existing residential <br />neighborhoods wherever possible. <br /> <br />16. Demolish and reconstruct, where necessary, aging buildings to preserve <br />neighborhoods. <br /> <br />17. Remove substandard structures. <br /> <br />18. Further many of the goals enumerated in Minnesota Statutes Section 469.124, <br />including providing employment opportunities, improving the tax base, improving <br />the general economy of the State, and providing open space relief within the New <br />Brighton Exchange. <br /> <br /> WHEREAS, the City Council has approved a framework plan and design standards for <br />all future land uses within the Development District to ensure high-quality, complementary <br />development, construction of a variety of high-quality housing products, creation of new green <br />space, trails, stormwater ponds and encouragement of pedestrian traffic between land uses; and <br /> <br /> WHEREAS, in order to achieve many of the objectives of the Council in creating the <br />Development District, the City is prepared to convey certain real property located in the <br />Development District and more particularly described in Exhibit B to the Redeveloper for <br />redevelopment in accordance with this Agreement; and <br /> <br /> WHEREAS, the City believes that the development and redevelopment of the <br />Development District pursuant to this Agreement, and fulfillment generally of the terms of this <br />Agreement, are in the vital and best interests of the City and the health, safety, morals and <br />welfare of its residents, and in accord with the public purposes and provisions of applicable <br />federal, state and local laws under which the Development District and Program is being <br />undertaken and assisted. <br /> <br /> NOW, THEREFORE, in consideration of the promises and the mutual obligations of <br />the parties hereto, each of them does hereby covenant and agree with the other as follows: