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Mini CITY OF NEW BRIGHTON COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION NO. 14-025 A RESOLUTION AUTHORIZING EXECUTION OF A RESTATED AND AMENDED CONTRACT FOR PRIVATE REDEVELOPMENT WITH PULTE HOMES OF MINNESOTA LLC. BE IT RESOLVED by the City Council ( "Council ") of the City of New Brighton, ;ota ( "City ") as follows: Section 1. Recitals. N 1.01. The City and Pulte Homes of Minnesota, LLC ( "Pulte ") entered into a Contract for Private Redevelopment with an effective date of June 11, 2013 ( "Agreement "), pursuant to which Pulte agreed to purchase certain real property located in the City of New Brighton, Ramsey County, State of Minnesota, as further described in the Agreement. 1.02. Despite Pulte's efforts to obtain all necessary governmental approvals for the Redevelopment Property, Pulte did not received approval from the MPCA for the Responsive Action Plan ( "RAP ") in time close on the Redevelopment Property under the terms and conditions of the Agreement. Pulte's corporate policies required it to exercise its right to terminate the Agreement on October 11, 2013 (in accordance with Section 4.1(d) of the Agreement) in order to avoid having Pulte's earnest money become nonrefundable. 1.03. On October 22, 2013 the City and Pulte entered into a First Amendment to the Agreement to reinstate all of the terms, covenants, conditions and provisions of the Agreement and to amend the Agreement in order to extend Pulte's 120 day inspection period contained in Section 4.1(d) the Agreement to allow the company 60 additional days to obtain such approval from the MPCA for the RAP. 1.04. As of December 10, 2013 Pulte still had not received approval from the MPCA for its RAP and the company sent notice to the City terminating the Agreement. At the same time, Pulte pledged to continue working with the City on obtaining the necessary environmental approvals and proceed with the project some time in 2014. 1.05. On March 3, 2014 Pulte received conditional approval from the Minnesota Pollution Control Agency for their Response Action Plan, which allows Pulte to proceed with the project. Both the City and Pulte wish to enter into a