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<br />!. <br /> <br />~ <br /> <br />~ <br /> <br />" <br /> <br />CITY OF NEW BRIGHTON <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION NO. <br /> <br />01-07.0 <br /> <br />A RESOLUTION AUTHORIZING EXECUTION AND DELIVERY OF A CONTRACT FOR <br />PRIVATE REDEVELOPMENT (SOUTH DISTRICT), AN AGREEMENT TO EXECUTE <br />CONTRACT FOR PRIVATE REDEVELOPMENT (NORTH DISTRICT) AND AN <br />AGREEMENT FOR EXCLUSIVE NEGOTIATIONS (CENTRAL DISTRICT), BY AND <br />BETWEEN THE CITY OF NEW BRIGHTON AND INDUSTRIAL EQUITIES GROUP, <br />LLC. <br /> <br />BE IT RESOLVED by the City Council (the "Council") of the <br />City of New Brighton (the "City") as follows: <br /> <br />Section 1. <br /> <br />Recitals. <br /> <br />1.01 It has been proposed that the City enter into a <br />Contract for Private Redevelopment (South District) (the <br />"Contract") with Industrial Equities Group, LLC (the <br />"Redeveloper"). <br /> <br />1.02 It has been further proposed that the City enter <br />into an Agreement to Execute Contract for Private Redevelopment <br />(North District) and an Agreement for Exclusive Negotiations <br />(Central District) (collectively the "Agreements") with the <br />Redeveloper. <br /> <br />Section 2. Findinqs. <br /> <br />2.01 The Council hereby finds that the Contract and <br />Agreements promote the objectives as outlined in its Modified <br />Development Program established pursuant to Minnesota Statutes, <br />Sections 469.001 et sea. <br /> <br />2.02 The Council hereby finds that it has approved and <br />adopted Tax Increment Financing Districts No. 20 and 21 and the <br />Council has approved and adopted the Tax Increment Financing <br />Plans relating thereto pursuant to Minnesota statutes, Sections <br />469.174 through 469.179, inclusive, as amended and supplemented <br />from time to time. <br /> <br />Section 3. <br /> <br />Authorizations. <br /> <br />3.01 The Mayor and the City Manager (the "Officers") <br />are hereby authorized to execute and deliver the Contract and the <br />Agreements when the following conditions are met: <br /> <br />A. Substantial conformance of a Contract and Agreements to <br />the Contract an~ the Agreements presented to the <br />