CC RES 03-097 A RESOLUTION RELATING TO THE REDEVELOPMENT OF PROPERTY IN REDEVELOPMENT PROJECT AREA NO. 3 AND AUTHORIZING THE PREPARATION, EXECUTION AND DELIVERY OF A REDEVELOPMENT AGREEMENT AND RELATED AGREEMENTS

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• meets the goals and objectives of the Redevelopment Plan and (c) the adoption of the Redevelopment Plan, the creation of the TIF District 3-5, the entry into the Redevelopment Agreement, and other actions contemplated therein and thereby, is in accordance with the provisions of all applicable federal, state and local laws. 2. The Mayor and City Manager are hereby authorized and directed on behalf of the City to execute and deliver the Redevelopment Agreement in substantially the form on file with the City Manager, with such changes, insertions, deletions and modifications as shall be approved by the City Manager and City Attorney and which shall not, in the opinion of the City Manager, substantially alter or impair the rights and obligations of the City and HRA as set forth in the summary presented to this Council, such approval to be conclusively evidenced by the execution and delivery of the Redevelopment Agreement by the City. 3. The approval herein given includes the conveyance by the City of certain property of the City, the entry into a contract to acquire a new site for the municipal liquor store and the construction by the Developer or its assignee of a new liquor store thereon, the construction of a new 391h Street between Silver Lake Road and the existing terminus of 391h Street to the west thereof and various other street and roadway improvements on exiting 39th Street, the acquisition and conveyance of certain additional property to the Developer, including, if necessary the acquisition thereof by the power of eminent domain, the provision of the specified tax increment assistance, and various other matters, all as set forth more fully and specifically in the Redevelopment Agreement. • 4. The City Council approves the assignment by the Developer as provided by and subject to the requirements of the Redevelopment Agreement of the rights and benefits related to the Commercial Element(as defined in the Redevelopment Agreement) to the St. Anthony Retail Development, LLC, and the assignment by the Developer as provided by and subject to the requirements of the Redevelopment Agreement of the rights and benefits related to the For Sale Housing Development(as defined in the Redevelopment Agreement) to Apache Homes 1 A, LLC. 5. The City Manager and Executive Director of the HRA, upon execution of the Redevelopment Agreement, are hereby directed to proceed expeditiously to take all actions contemplated therein, and, as necessary and appropriate, bring before the City Council and HRA any further matters requiring additional action or approval consistent with such Redevelopment Agreement. 6. The City Council hereby incorporates into its files and proceedings relating to the Redevelopment Agreement, including, but not limited to, the findings and reasons and facts supporting the findings contained in Resolution No. 03-082, adopted by the City Council on September 23, 2003, the testimony presented to the City Council at public hearings with respect to the Redevelopment Plan and proposed redevelopment of the Redevelopment Property and the Reports. The City Council hereby confirms and ratifies the Reports, which are hereby incorporated into and made a part of this resolution to the same extent as set • forth in full herein. 3