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<br />~/ ' <br />/ . <br /> <br />. <br />. <br />! <br />j <br />I <br />i <br />! <br />~ <br />~ <br />, <br /> <br />RESOLUTION NO. 86~,lll <br /> <br />A RESOLUTION APPROVING AND AUTHORIZING THE <br />EXECUTION OF A CONTRACT FOR PRIVATE DEVELOP- <br />MENT WITH KEITH T.- HARSTAD AND DIANE N. <br />HARSTAD <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 Dist!:"ict No. 1 <br />(the "Development Distr ict") in an area (the "Project <br />Area") located in the City. <br /> <br />(c) There has been approved by the Ci ty Counci l, <br />pursuant to the Act, a Development Program for the De- <br />velopment District, 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 pr ivate <br />developers for development are stated objectives of the <br />Developmf:nt 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 />ass istance in connect ion wi th the Development Program <br />through the financing of certain of the public costs of <br />development in the Project Area. <br /> <br />(f) Keith T. Harstad and Diane N. Harstad have <br />presented the City with a proposal for the construction <br />within the Project Area of an approximately 42,568 <br />square foot office facility, and a certain Contract for <br />Pr i va te Development between the Ci ty and said persons <br />(the "Development Agreement"), stating the terms and <br />conditions of such development and the City's responsi- <br />bilities respecting the assistance thereof, has been <br />presented to the City Council for its consideration. <br />