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,io, <br /> V ` 3' <br /> ,.11. <br /> ?i li <br /> IIIPRELIMINARY NEGOTIATIONS AGREEM�E�NT - <br /> THIS AGREEMENT dated th•is <br /> o?L a day of 4......4 a r " , 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 politic under the laws of Minnesota ("EDA") and <br /> ANTHONY PROPERTIES, a Texas corporation (the "Developer"): <br /> WITNESSETH: <br /> WHEREAS, the City and EDA are willing to consider 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 site (the "Community Center Property"); and <br /> WHEREAS, the Developer has approached the City to discuss development opportunities <br /> on City-owned land immediately adjacent to the Community Center Building and on two adjacent <br /> privately-owned parcels to undertake a possible development on property identified in Exhibit A <br /> (the "Project"); and <br /> WHEREAS, the City and EDA have reviewed the Project and concur that the Developer <br /> • has been designated to prepare a more detailed proposal for a Project pursuant to such terms and <br /> conditions as may be established by further negotiations duringthe of <br /> between the parties; and term this Agreement <br /> WHEREAS, the City, EDA and the Developer are willing and desirous to discuss the <br /> possible Project, provided that: <br /> (a) the Developer can secure satisfactory private financing sufficient for the <br /> completion of a Project; and <br /> (b) the City and EDA are satisfied that a Project is economically feasible and <br /> in the best interests of the public. <br /> NOW, THEREFORE, in consideration of the mutual covenants of the parties hereto, IT <br /> IS AGREED between the parties as follows: <br /> 1. During the term of this Agreement, or any mutually agreed extension thereof, the <br /> parties shall use their best efforts to attempt to negotiate and formulate a definitive redevelopment <br /> contract (hereinafter "Redevelopment Contract") which shall provide for the development of a <br /> Project and shall, at a minimum, contain the following: <br /> (a) Terms and conditions concerning the scope and timing of construction of <br /> • the project by the Developer and of any public improvements to be constructed in <br /> connection with a Project; <br /> DJK127914 <br />