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• RESOLUTION NO.97-EDA67 <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br />RESOLUTION APPROVING AND AUTHORIZING THE EXECUTION OF A <br />DEVELOPMENT ASSISTANCE AGREEMENT WITH THE EVEREST GROUP, LTD., <br />REGARDING THE BUILDING "N" PROJECT <br />It is hereby resolved by the Board of Commissioners (the "Board") of the Mounds View <br />Economic Development Authority (the "Authority") as follows: <br />1. Recitals. <br />(a) Pursuant to Minnesota Statues, Sections 469.124 to 469.134 and 469.090 <br />to 469.108 (collectively, the "Act") <br />(b) Pursuant to and in furtherance of the objectives of the Act, the Authority <br />has undertaken a program to promote development and redevelopment of certain <br />land within the City of Mounds View and in connection is engaged in carrying out <br />• the Mounds View Economic Development Project (the ``Project) within the City. <br />(c) There has been approved pursuant to the Act a Project Plan for the Project. <br />(d) The redevelopment and development of property within the Project by <br />private developers are stated objectives of the Project Plan <br />(e) In order to achieve the objectives of the Project Plan, the Authority has <br />determined to provide substantial aid and assistance through the financing of certain of <br />the public costs of development <br />(f) The Everest Group, Ltd. (the "Developer"), has presented the Authority <br />with a proposal for the completion of certain improvements within the Project, consisting <br />generally of the construction of an approximately 103,000 square foot building, and a <br />certain Development Assistance Agreement between the Authority and the Developer <br />(the "Development Agreement") stating the terms and conditions thereof and the <br />Authority's responsibilities respecting the assistance thereof has been presented to the <br />Board for its consideration. <br />2. The Board hereby determines that the Authority's execution and performance of <br />the Development Agreement would be in furtherance of the Project Plan and hereby approves the <br />• Development Agreement, substantially in the form presented to the Board and hereby authorizes <br />the officers of the Authority in their discretion and at such time, if any, as they may deem <br />