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<br />.. <br /> <br />RESOLUTION NO. 87-~ <br /> <br />" <br /> <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br /> <br />RESOLUTION MAKING FINDINGS OF FACT AND APPROVING AND AUTHORIZING THE <br />EXECUTION OF A CONTRACT FOR PRIVATE DEVELOPMENT WITH RICHARD L. BRAMA AND <br />ANGELA BRAMA. <br /> <br />IT IS HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF NEW BRIGHTON, <br />MINNESOTA, (THE "CITY"), AS FOLLOWS: <br /> <br />1. Recitals. <br /> <br />(a) The City has the powers provided in Minnesota statutes, Chapter <br />472A, as amended (the "Act"). <br />(b) Pursuant to and in furtherance of the objectives of the Act, the . <br />City has undertaken a program to promote development of certain land: <br />within the City and in this connection is engaged in carrying out : <br />its development projection known as Development District No. 1 (the , <br />"Development District") in an area (the "project Area") located in <br />the City. <br />(c) There has 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 />(d) The acquisition and the subsequent sale or lease of the potential <br />development property to private developers for development are <br />stated objectives of the Development Program. <br />(e) In order to achieve the objectives of the Development Program and <br />particularly to make the land in the Project ARea available for <br />development by private enterprise in conformance with the <br />Development Program, the City has determined to provide substantial <br />aid and assistance in connection with the Development Program <br />through the financing of certain of the public costs of development <br />in the Project Area. <br />(f) Richard L. Brama and Angela Ann Brama have presented the City with a <br />proposal for the construction within the Project Area of an <br />approximately 32 unit rental housing facility, and a certain <br />Contract for Private Development between the City and Richard L. <br />Brama and Angela Ann Brama (the "Development Agreement") stating the, <br />terms and conditions of such development and the city's <br />responsibilities respecting the assistance thereof has been <br />presented to the City Council for its consideration. <br /> <br />2. The city Council hereby approves the Development Agreement substantially <br />in the form presented to the Council and hereby authorizes the Mayor and: <br />City Manager to execute the same on behalf of the City, with such <br />additions and modifications as those officers may deem desirable or <br />necessary, as evidenced by their execution thereof. <br /> <br />3. Upon execution and delivery of the Development Agreement, the officers <br />and employees of the City are hereby authorized and directed to take or <br />cause to be taken such actions as may be necessary on behalf of the City: <br />to implement said agreement. <br /> <br />4. The City Council hereby determines that the execution and performance of <br />the Development Agreement will help realize the public purposes of the <br />Act and are in furtherance of the Development Program. <br /> <br />Adopted this 12th day of May, 1987. <br /> <br />ATTEST: <br /> <br />y~~ <br /> <br />Robert Ben~, Mayor <br /> <br />/j J1-PM-' <br /> <br /> <br />~/ <br />Margare Egan, <br />Finance irectorjCity <br /> <br />Henry S. <br /> <br />Clerk <br /> <br />(SEAL) <br />