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c73OC <br /> PRELLMLNARY NEGOTIATIONS AGREEMENT <br /> THIS AGREEMENT dated this day of 1997 by <br /> and between THE CITY OF MOUNDS VIEW, MINNESOTA, a municipal corporation under <br /> the laws of Minnesota (the "City") and THE MOUNDS VIEW ECONOMIC DEVELOPMENT <br /> AUTHORITY, a body corporate and poli 'c under the laws of Minnesota ("EDA") and <br /> ANTHONY PROPERTIES, a Texas corpo tion (the "Developer"): <br /> WITNESSETH: <br /> WHEREAS, the City and EDA are will' o nsider rehabilitation and development of <br /> the existing building and surrounding site currently owned by the City and referred to as the <br /> Mounds View Community Center •te (the "Comm 'ty Center Property"); and <br /> WHEREAS, the Devel•.er has a oache the City for land immediately adjacent to the <br /> Community Center Building an. o othe arcels to undertake a possible development on <br /> property identified in Exhibi A (th= "Project"); and <br /> WHEREAS, the City ani!D have reviewed the Project and concur that the Developer <br /> has been designated to prepare a m• -,.etailed proposal for a Project pursuant to such terms and <br /> conditions as may be esta --d by 1. • - negotiations during the term of this Agreement <br /> between the parties; and <br /> r <br /> WHEREAS, the City, : DA and the Developer are willing and desirous to discuss the <br /> possible Project, provided that: <br /> (a) . eveloper can secure satisfactory private financing sufficient for the <br /> completion of a Pro'-"-; and . <br /> I. the Ci% and EDA are satisfied that a Project is economically feasible and <br /> in the b-- intere - .. = - •lic. <br /> NOW, THE• ' '' • , in consideration of the mutual covenants of the parties hereto, IT <br /> IS AGREED between th• parties as follows: <br /> 1. •g th= term of this Agreement, or any mutually agreed extension thereof, the <br /> p•' :es shall •- their best -fforts to attempt to negotiate and formulate a definitive redevelopment <br /> c.ntract (h- einafter "R- . -velopment Contract") which shall provide for the development of a <br /> P eject . . shall, at a ..• ...um, contain the following: <br /> (a) rms and conditions concerning the scope and timing of construction of <br /> the project . the Developer and of any public improvements to be constructed in <br /> connection with a Project; <br /> (b) Provision for reimbursement of actual out-of-pocket costs for a "not to <br /> exceed" amount to be mutually agreed upon among the parties, incurred by the City and <br /> DJR127914 <br /> Mv205-6 <br />