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~ ~HILLS CITY OF ARDEN HILLS COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION NO. 07-51 A RESOLUTION RELATING TO FINANCING OF PROJECT; ESTABLISHING INTENT WITH RESPECT TO REIMBURSEMENT BE IT RESOLVED, by the City Council of the City of Arden Hills (the "City"), as follows: WHEREAS, as part of the potential redevelopment of the Twin Cities Army Ammunition Plant ("TCAAP") site in the City, the City anticipates the possible need for certain improvements to the interchange of County Road H and Interstate 35W (the "County Road H Project"); and WHEREAS, the City intends to seek funds from the federal government, the State of Minnesota, Ramsey County and the Metropolitan Council to provide funding for the County Road H Project; and WHEREAS, the City has also entered into a Preliminary Development Agreement dated March 30, 2007 (the "Preliminary Agreement) with RRLD, LLC (the "Developer"); and WHEREAS, the Developer is willing to pay the cost of pre-design work for the County Road H Project under terms of a First Amendment to the Preliminary Development Agreement (the "First Amendment") to be entered into upon approval of this Resolution. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Arden Hills as follows: 1. The City proposes to undertake the County Road H Project, and directs the Developer to pay costs of pre-design and similar preliminary work that is usual and customary for road and interchange projects. 2. The City will reimburse Developer for such preliminary costs from proceeds of grants received for such work, to the extent provided in, and subject to all the terms and conditions of, the Preliminary Agreement as amended by the First Amendment. 3. City staff, consultants and the Mayor and City Administrator are authorized and directed to take all actions and execute any documents necessary to carry out the intent of this resolution.