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<br />CITY OF NEW BRIGHTON <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION NO. 92-119(1) <br /> <br />A RESOLUTION AUTHORIZING EXECUTION AND DELIVERY OF A CONTRACT <br />FOR PRIVATE REDEVELOPMENT BY AND BETWEEN THE CITY OF NEW BRIGHTON <br />AND TAYLOR CORPORATION. <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 (the "Contract") with Taylor <br />Corporation (the "Redeveloper"). <br /> <br />Section 2. <br /> <br />Findinqs. <br /> <br />2.01. The Council hereby finds that the Contract promotes <br />the objectives as outlined in its Modified Development Program <br />established pursuant to Minnesota Statutes, Sections 469.001 et <br />sea. <br /> <br />2.02. The Council hereby finds that it has approved and <br />adopted Tax Increment Financing District No. 5 and the Council <br />has approved and adopted the Tax Increment Financing Plan relating <br />thereto pursuant to Minnesota statutes, Sections 469.174 through <br />469.179, inclusive, as amended and supplemented from time to time. <br /> <br />Section 3. <br /> <br />Authorization for Execution and Deliverv. <br /> <br />3.01. The Mayor and the City Manager are hereby authorized <br />to execute and deliver the Contract when the following condition is <br />met: <br /> <br />substantial conformance of a Contract to the <br />Contract presented to the Authority as of this date; <br /> <br />Adopted by the Council of the City this ~ day of Nnvp.mhpr, 1992. <br /> <br />~ <br /> <br /> <br />~J <br /> <br />t <br />I <br />ATm, g,T: , . '"\. . <br />~\ . ,", I 'f · <br />'\ \-,(~k.l t\,," ~'l~clo <br /> <br />City Manager <br />I <br />