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FORM A <br /> 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 />