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CITY OF LITTLE CANADA <br />RESOLUTION APPROVING STATEMENT OF UNDERSTANDING <br />FOR THE REDEVELOPMENT OF THE MARKET PLACE SHOPPING CENTER <br />WHEREAS, <br />The City of Little Canada (the "City ") has prepared a Development <br />Guide for the Rice Street- Little Canada Road area to be used as a <br />tool for guiding decision - making in the development of the <br />community; and, <br />WHEREAS, <br />The Development Guide finds that the renovation of the Market <br />Place Shopping Center is a key implementation action for the <br />City; and, <br />WHEREAS, <br />The City has been approached by a party interested in acquiring <br />and renovating the Center. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of <br />Little Canada, Minnesota, that the Statement of Understanding as <br />described in Attachment 1 to this Resolution is approved by the <br />City Council. The City Administrator is authorized and directed <br />to take steps necessary to implement the Statement of <br />Understanding, including the preparation of a Development <br />Agreement for Council consideration, cooperation with the <br />Developer to undertake "Developer Actions ", and the completion of <br />steps needed to undertake "City Action ". <br />Adopted this 27th day of September, 1995. <br />Attest: <br />Adopted: <br />Michael I. Fahey, Mayor <br />Joel R. Hanson, City Administrator <br />Page 59 <br />