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<br />\ <br />)< <br /> <br />..~ <br />, <br /> <br />RESOLUTION NO. 94-098 <br /> <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br /> <br />RESOLUTION AUTHORIZING THE ACQUISITION OF LAND BY EMINENT DOMAIN AND <br />AUTHORIZING THE OBTAINING OF TITLE AND POSSESSION IN ACCORDANCE WITH <br />MINNESOTA STATUTES SECTION 117.042. <br /> <br />1 . Recitals <br /> <br />a. The City has the powers provided in Minnesota Statutes Sections 469.124 <br />through 469.134 (the "Act"). <br /> <br />b. Pursuant to and in furtherance of the objectives of the Act, the City has <br />undertaken a program to promote development of certain land within the City and <br />in this connection is engaged in carrying out its development project known as <br />Development District No.1 (the "Development District") in an area (the "Project <br />Area") located in the City. <br /> <br />c. There have been approved by the City Council, pursuant to the Act, a <br />Development Program for the Development District, as amended (the <br />"Development Program"). <br /> <br />d. The acquisition and the subsequent sale or lease of the potential development <br />property to private developers for development are stated objectives of the <br />Development Program. <br /> <br />e. The City has, By Resolution No. 94-168 approved the execution and delivery of a <br />contract for private development (the "Contract") and has directed that all actions <br />necessary to implement the Contract be undertaken with Industrial Equities Group, <br />Inc. <br /> <br />f. The Contract provides, inter alia, that the City obtain fee title to the real estate <br />which is the subject of the Contract and convey the same to the developer. <br />Included among the real estate which is to be acquired and conveyed is the area of <br />land the boundaries of which are described in Exhibit A which is attached hereto <br />and incorporated at this point (the "Land"). <br /> <br />2. In furtherance of the objectives of the Act, the Development Program and the City's <br />obligations under the Contract, the City Council hereby finds that the acquisition of fee <br />simple absolute title to the land through and by the exercise of the power of eminent <br />domain is necessary and appropriate in the public interest, and for the public purpose of <br />development and as such is authorized pursuant to the Act. <br /> <br />Page 1 of 2 <br />