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EDA RESOLUTION 22-EDA-362 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION APPROVING A PRELIMINARY DEVELOPMENT AGREEMENT WITH REUTER WALTON DEVELOPMENT, LLC BY THE MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY WHEREAS, Reuter Walton Development, LLC, a Minnesota limited liability company (the "Developer") has requested that the Mounds View Economic Development Authority of the City of Mounds View, Minnesota, a public body corporate and politic under the laws of Minnesota ("EDA") enter into a Preliminary Development Agreement with it in order to provide the Developer with certain rights and obligations to facilitate the redevelopment of the WOODALE APARTMENTS Project Area (the "Project"); and WHEREAS, the EDA has found and determined that entering into a Preliminary Development Agreement with the Developer is in the public interest. NOW, THEREFORE, BE IT RESOLVED by the Mounds View Economic Development Authority of the City of Mounds View, Minnesota as follows: 1. That the above -referenced recitals are incorporated into this Resolution. 2. The EDA approves the Preliminary Development Agreement, subject to modifications that do not alter the substance of the transaction and that are approved by the EDA Attorney, provided that execution of the Preliminary Development Agreement shall be conclusive evidence of approval. 3. EDA staff and officials are authorized to take all actions necessary to perform the EDA's obligations under the Preliminary Development Agreement as a whole. 4. That the Preliminary Development Agreement, contained in Exhibit A of this resolution is hereby approved, ratified, established, amended, and adopted and shall be placed on file at City Hall. Adopted this 28th day of November, 2022. Carol A. Mueller, President ATTEST: Nyle Zikmund, Executive Director (SEAL) 1 DOCSOPEN\MU205\59\840926.v3-11/23/22