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<br />. <br />.. <br /> <br />~ <br /> <br />RESOLUTION No. 94 -13 2 <br /> <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br /> <br />A RESOLUTION AUTHORIZING EXECUTION AND DELIVERY OF A CONTRACT FOR PRIVATE REDEVELOPMENT (NORTH <br />DISTRICT) BY AND BETWEEN THE CITY OF NEW BRIGHTON AND INDUSTRIAL EQUITIES GROUP, LLC. <br /> <br />BE IT RESOLVED, by the City Council (the "Council") of the City of New Brighton (the "City") as <br />follows: <br /> <br />Section 1. <br /> <br />Recitals. <br /> <br />1.01 It has been proposed that the City enter into a Contract for Private Redevelopment <br />(North District) (the "Contract") with Industrial Equities Group, LLC (the "Redeveloper"). <br /> <br />Section 2. <br /> <br />FindinQs. <br /> <br />2.01 The Council hereby finds that the Contract and Agreements promote the objectives <br />as outlined in its Modified Development Program established pursuant to Minnesota Statutes, <br />Sections 469.001 et seq. <br /> <br />2.02 The Council hereby finds that it has approved and adopted Tax Increment <br />Financing District No. 20 and the Council has approved and adopted the Tax Increment Financing <br />Plan relating thereto pursuant to Minnesota Statutes, Sections 469.174 through 469.179, <br />inclusive, as amended and supplemented from time to time. <br /> <br />Section 3. <br /> <br />Authorizations <br /> <br />3.01 The Mayor and the City Manager (the "Officers") are hereby authorized to execute <br />and deliver the Contract when the following conditions are met: <br /> <br />A. Substantial conformance of a Contract to the Contract presented to the City as of this <br />date with such additions and modifications as those Officers may deem desirable or <br />necessary as evidenced by the execution thereof; <br /> <br />B~ Payment of $'10,000.00. <br /> <br />302. Upon execution and delivery of the Contract, the officers and employees of the <br />City are hereby authorized and directed to take or cause to be taken such actions as may be <br />necessary on behalf of the City to implement said Contract, including without limitation, upon the <br />commencement under the Contract of the City's obligation to acquire the Redevelopment Property, <br />all actions desirable or necessary to acquire the same through negotiation, option to purchase, or <br />the exercise of the City's power of eminent domain, which in such events the Council hereby <br />determines to be in the public interest for the effectuation of the Modified Development Program <br />and necessary for public uses. <br /> <br />Adopted this 22nd day of November, 1994. <br /> <br />ATTEST: <br /> <br />~. <br /> <br />-ATTEST:' <br /> <br /> <br /> <br />-Margaret E an, <br />Finance Director/City Clerk <br /> <br />(SEAL) <br />