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RESOLUTION 8917 <br />RESOLUTION 18 -EDA -307 <br />CITY OF MOUNDS VIEW AND THE <br />MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br />JOINT RESOLUTION APPROVING A REAL ESTATE OPTION AGREEMENT <br />FOR PROPERTY IN THE CITY OF MOUNDS VIEW <br />WHEREAS, the City of Mounds View (the "City") is a municipal corporation and <br />political subdivision duly organized and existing under the Constitution and laws of the State of <br />Minnesota; and, <br />WHEREAS, the Mounds View Economic Development Authority (the "EDA") is a <br />public body corporate and politic under the laws of the state of Minnesota; and, <br />WHEREAS, the City has the ability under Minnesota Statutes, Chapter 282, to acquire <br />certain tax -forfeited property upon application to Ramsey County, which is legally described on <br />Exhibit A (the "Property") attached hereto and hereby made a part hereof; and, <br />WHEREAS, Boulevard Apartments, a limited partnership under the laws of the state of <br />Minnesota ("the "Developer"), desires to enter into a Real Estate Option Agreement (the "Option <br />Agreement") which is attached hereto as Exhibit B; and, <br />WHEREAS, the City and EDA wish to acquire the Property and to enter into the Option <br />Agreement for the purpose of allowing the sale of the Property to the Developer; and, <br />WHEREAS, the Planning Commission for the City has reviewed the proposed sale of <br />the Property and has determined that such sale complies with the City's comprehensive plan as <br />required by Minnesota Statutes, Section 462.356 or the City desires to dispense with the <br />requirements of Minn. Stat. § 462.356, subd. 2 and finds in the City's judgment that the proposed <br />sales of the Property has no relation to the comprehensive municipal plan of the City of Mounds <br />View. <br />NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Mounds <br />View and the Board of the Mounds View Economic Development Authority that the recitals and <br />exhibits, if any, set forth in this Resolution are incorporated into and made a part of this Resolution. <br />499209v7 MU20547 <br />