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\, ,. CITY OF NEW BRIGHTON COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION NO. 96-012 A RESOLUTION AUTHORIZING EXECUTION AND DELIVERY OF A CONTRACT FOR PRIVATE REDEVELOPMENT (LAKEVIEW SOUTH), BY AND BETWEEN THE CITY OF NEW BRIGHTON AND INDUSTRIAL EQUITIES GROUP, LLC. BE IT RESOLVED by the City Council (the "Council") of the City of New Brighton (the "City") as follows: Section 1. Recitals. 1.01 It has been proposed that the City enter into a Contract for Private Redevelopment (Lakeview South) (the "Contract") with Industrial Equities Group, LLC (the "Redeveloper") . Section 2. Findinas. 2.01 The Council hereby finds that the Contract promotes the objectives as outlined in its Modified Development Program established pursuant to Minnesota Statutes, Sections 469.001 II ng. Section 3. Authorizations. 3.01 The Mayor and the City Manager (the "Officers") are hereby authorized to execute and deliver the Contract when the following conditions are met: A. Substantial conformance of a Contract to the Contract presented to the City as of this date with such additions and modifications as those Officers may deem desirable or necessary as evidenced by the execution thereof; B. Payment of $15,000.00. 3.02 Upon execution and delivery of the Contract, the officers and employees of the City are hereby authorized and directed to take or cause to be taken such actions as may be necessary on behalf of the City to implement said Contract, including without limitation, upon the commencement under the Contract of the City's obligation to acquire the Redevelopment Property, all actions desirable or necessary to acquire the same through negotiation, option to purchase, or the exercise of the