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E. County and City (collectively the "Parties", individually a "Party") desire and <br /> intend that redevelopment of the TCAAP Site take place to remediate and eliminate blighting <br /> conditions and to make possible and result in significant amounts of New Development to <br /> provide employment opportunities, improve the tax base, and improve the general economy of <br /> the City, the local community and Ramsey County as a whole. The New Development will <br /> include the construction of necessary off-site and on-site transportation improvements such as <br /> the Spine Road, as well as internal streets, water and sanitary and storm sewer and other public <br /> facilities and other public and private utilities and improvements to be located on the TCAAP <br /> Site ( "City Public Improvements" and County Public Improvements", collectively, the "Public <br /> Improvements" as defined in Section 1.1). The Parties will develop plans to provide for a mix of <br /> residential, commercial, light industrial and other uses utilizing the Public Improvements <br /> (collectively, the Public Improvements and the uses proposed for the TCAAP Site comprise the <br /> "New Development"). The plans guiding the type of land uses, density, location and timing of <br /> implementation of the components of the New Development comprise the "TCAAP Master <br /> Plan", as further described in Section 1.1). <br /> F. The New Development will take place within the City. The New Development <br /> will require the participation of City to complete environmental review for the TCAAP Site as <br /> required by law, by means of a process described as alternative urban areawide review <br /> ("AUAR"), and application of the City's statutorily mandated planning and zoning authority to <br /> develop the TCAAP Master Plan. City will be required to implement its allocated portion of the <br /> Public Improvements on the TCAAP Site in a timely manner as identified in the TCAAP Master <br /> Plan, and as provided below The effective and beneficial land use planning and guiding of the <br /> New Development, consistent with state statutes and regulations, City's comprehensive plan, <br /> zoning code and other applicable ordinances, and the ability to recapture City costs incurred in <br /> providing its allocated responsibilities for the Public Improvements to serve the TCAAP Site are <br /> matters of great interest and importance to City. <br /> G. The Parties recognize that their cooperation and collaboration are critical for <br /> accomplishing the New Development in a manner that is a timely, cost-effective and efficient <br /> use of public resources in order to benefit the City, other local communities and Ramsey County <br /> as a whole. <br /> H. The Parties intend to exercise their respective authority granted by Minnesota <br /> Statutes § 471.59 (the "JPA Act") to establish a joint powers board to be named the "Joint <br /> Development Authority" (the "JDA") or such other name as the Parties may determine. The <br /> Parties intend that the JDA shall be a governmental entity of the State which is authorized to <br /> exercise to the extent permitted by the JPA Act, the general laws of the State of Minnesota , and <br /> Laws 2009, Chapter 88, §16 applicable to the TCAAP Site, the common powers of each Party <br /> for the redevelopment of the TCAAP Site as a governmental entity of the State. These powers <br /> include, but are not limited to, remediation of contamination and elimination of blight, <br /> infrastructure construction and financing, comprehensive planning and zoning, and <br /> redevelopment and economic development. <br /> 2 <br />