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86-129
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86-129
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8/9/2005 11:52:18 AM
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<br />'"I, _ '-!> <br /> <br />" - <br /> <br />~ <br /> <br />~ <br /> <br />RESOLUTION NO. 86-129 <br /> <br />A RESOLUTION APPROVING AND AUTHORIZING THE <br />EXECUTION OF AN AMENDMENT TO A CONTRACT FOR <br />PRIVATE DEVELOPMENT WITH PARK PLACE SENIOR <br />HOUSING LIMITED PARTNERSHIP <br /> <br />It is hereby resolved by the City Council of the City of <br />New Brighton, Minnesota (the "City"), as follows: <br /> <br />1. Recitals. <br /> <br />(a) The City has the powers provided in Minnesota <br />Statutes, Chapter 472A, as amended (the "Act"). <br /> <br />(b) Pursuant to and in furtherance of the objec- <br />tives of the Act, the City has undertaken a program to <br />promote development of certain land within the City and <br />in this connection is engaged in carrying out its de- <br />velopment project known as Development Distr ict No. 1 <br />(the "Development Distr ict") in an area (the "Project <br />Area") located in the City. <br /> <br />(e) There has been approved by the City Council, <br />pursuant to the Act, a Development Program for the De- <br />velopment Distr iet, as amended (the "Development Pro- <br />gram"). <br /> <br />(d) The acquisition and the subsequent sale or <br />lease of the potential development property to private <br />developers for development are stated objectives of the <br />Development Program. <br /> <br />(e) In order to achieve the objectives of the <br />Development Program and particularly to make the land in <br />the Project Area available for development by private <br />enterprise in conformance with the Development Program, <br />the City has determined to provide substantial aid and <br />assistance in connection with the Development Program <br />through the financing of certain of the public costs of <br />development in the Project Area. <br /> <br />(f) The City has entered into a Contract for <br />Private Redevelopment with Park Place Senior Housing <br />Limited Partnership (the "Developer") dated as of <br />January 24, 1986 as amended on January 31, 1986 (the <br />"Contract for Private Redevelopment"). <br /> <br />(9) The Developer has presented the City with a <br />proposal to amend such Contract for Pr i vate Redevelop- <br />
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