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