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512590v3 MU205-46 <br />EDA RESOLUTION 18-EDA-303 <br /> <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION APPROVING A PRELIMINARY DEVELOPMENT AGREEMENT WITH <br />INH PROPERTY MANAGEMENT, INC. BY THE MOUNDS VIEW ECONOMIC <br />DEVELOPMENT AUTHORITY <br /> <br /> WHEREAS, the Mounds View Economic Development Authority (“EDA”) owns or <br />controls certain land that comprises the Crossroad Pointe Redevelopment Project Area <br />(the ”Project”); and <br /> <br /> WHEREAS, INH Property Management, Inc. (the “Developer”) has requested that <br />the EDA enter into a Preliminary Development Agreement with it in order to provide the <br />Developer with certain rights and obligations to facilitate the redevelopment of the Project; <br />and <br /> <br /> WHEREAS, the EDA found and determined that entering into a Preliminary <br />Development Agreement with the Developer is in the public interest. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the Mounds View Economic <br />Development Authority (“EDA”) of the City of Mounds View, Minnesota as follows: <br /> <br />1. That the above-referenced recitals are incorporated into this Resolution. <br />2. The EDA approves the Preliminary Development Agreement, subject to <br />modifications that do not alter the substance of the transaction and that are <br />approved by the EDA Attorney, provided that execution of the Preliminary <br />Development Agreement shall be conclusive evidence of approval. <br />3. EDA staff and officials are authorized to take all actions necessary to perform <br />the EDA’s obligations under the Preliminary Development Agreement as a <br />whole. <br />4. That the Preliminary Development Agreement, contained in Exhibit A of this <br />resolution is hereby approved, ratified, established, amended, and adopted and <br />shall be placed on file at City Hall. <br /> <br /> Adopted this 8th day of January, 2018. <br /> <br /> <br /> ________________________________ <br /> Carol A. Mueller, President <br />ATTEST: <br /> <br /> ________________________________ <br /> Nyle Zikmund, Executive Director <br />(seal)