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u <br /> u <br /> AMENDED AND RESTATED <br /> DEVELOPMENT AGREEMENT <br /> TH _ AM RESTATED AGREEMENT, made as of the 1st day <br /> Of e 1998, by and between the City of <br /> Roseville, Minnesota (the "City" ) , a municipal corporation <br /> organized and existing under the laws of the State of Minnesota <br /> and college Properties t Inc. , a Minnesota non --�;prof it <br /> corporation, (the "Developer") .. <br /> W I THE ETH: <br /> WHER A the City and Develo er entered into a <br /> Deyelo ent A reement dated October 1,.1993 (the "Development <br /> Anreament") ; and <br /> WHEREAS in coMec t i on with the issuance of a Second N t e <br /> hereinafter as definedl it is nec-essagy to amend the Dever meat <br /> Agreement.: and <br /> WHEREAS this _AAgreement eAgreement as of the date of this Agreement„, <br /> shall set forth the obligations of the garties hereto and shall <br /> su ercede the Develqpgi <br /> gnt &Sreezent1..andd <br /> WHEREAS, pursuant to �11illnesota �tatu�es. � �t��n 460 .-124 <br /> 6 <br /> through 469 .134, the City has formed Municipal Development <br /> District Ho. 1 (the "Development District" ) and has adopted a <br /> development program therefor (the "Development Program") ; and <br /> WHEREAS, pursuant to the provisions of Minnesota Statutes, <br /> Section 469 .174 through 469 .179, as amended, (hereinafter the <br /> "Tax Increment Act") jr the City has created, within the <br /> Development District, Tax Increment Financing District No. 13 <br /> (the "Tax Increment District"Y , the legal description of which is <br /> attached hereto as Exhibit A, and has adopted a tax increment <br /> financing plan, dated April 26, 1993, therefor (the ' Tax <br /> Increment Plan") which provides for the use of tax increment <br /> financing in connection with certain development within the <br /> Development District; and <br /> WHEREAS, in order to achieve the objectives of the <br /> Development Program and particularly to make the land in the <br /> Development District available for development by private <br /> enterprise in conformance with the Development Program, the City <br /> has determined to assist the Developer with the financing of <br /> certain costa of a Project (as hereinafter defined) to be <br /> V5 to V4; 05/20/98 <br />