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<br />. <br />.- <br /> <br />~ <br /> <br />! <br /> <br />RESOLUTION No. 94 -0 70 <br /> <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br /> <br />RESOLUTION APPROVING AND AUTHORIZING THE PURCHASE OF LAND (878 - 5TH A VENUE NW). <br /> <br />1. RECITALS <br /> <br />(a) Pursuant to and in furtherance of the powers granted to it by Minnesota Statutes <br />Sections 469.124 through 469.134 (the "Act"), the City has heretofore created and <br />established its development project known as Development District No.1 ("Development <br />District") in an area (the "Project Area") located in the City. <br /> <br />(b) Pursuant to the Act, the City has approved a Development Program for the Development <br />District which contains as its stated objective the acquisition and subsequent sale or lease <br />of lands within the Development District to developers for development. <br /> <br />(c) In accordance with the stated objective of the Development Program, the City Staff has <br />negotiated a proposed purchase of the property at 878 - 5th A venue NW lying within the <br />Development District and has presented the proposed purchase terms to the City Council <br />for its consideration. <br /> <br />2. The City Council hereby approves the purchase of the property at 878 - 5th Avenue NW, <br />authorizes preparation of a purchase agreement ("Agreement") in substantially the form <br />presented and hereby authorizes the Mayor and City Manager to execute the same on behalf of <br />the City with such additions or modifications as those officers may deem necessary, as <br />evidenced by their execution thereof. <br /> <br />3. Upon execution of the Agreement as herein authorized, the officers and employees of the City <br />are hereby authorized and directed to take all actions as are necessary to satisfy the City's <br />obligations under the Agreement. <br /> <br />Adopted this 24th day of May, 1994. <br /> <br /> <br />~~ <br />. ~ ....- <br />Robert Benktt ayor <br /> <br />~~ <br /> <br />M tthew S. Fulton, City Manager <br /> <br />ArrEST: .~. <br /> <br />Margaret - Egan, - <br />Finance DIrector/City Clerk <br /> <br />(SEAL) <br />