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EXTRACT OF MINUTES OF MEETING OF THE CITY COUNCIL OF THE CITY OF ROSEVILLE * * * * * * * * * * * Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Roseville, County of Ramsey, Minnesota was duly held on the 12th day of May, 1986 at 7:30 p.m. The following members were present: Matson, Johnson, Kehr, Cushman, Demos, and the following were absent: None. MemberJohnson introduced the following resolution and moved its adoption: RESOLUTION 7897 CDBG Application to Ramsey County for Lincoln Companies Project WHEREAS, Ramsey County has $728,800 available for community development purposes; and, WHEREAS, the City of Roseville has the opportunity to submit an application for said funds up to $250,000; and, WHEREAS, Lincoln Companies is considering a project on the Glendenning site where tax increment does not work; and, WHEREAS, the City has reviewed the feasibility of all potential projects for utilization of said funds; NOW, THEREFORE, BE IT RESOLVED, that the City of Roseville is authorizing submission of Ramsey County Community Development Block Grant Application for a $250,000 low interest loan to Lincoln Companies for 150,000 square foot shopping mall; and, BE IT FURTHER RESOLVED, that the City of Roseville will be requesting that the returned $250,000 remain in the City for future economic development purposes. Adopted by the City Council of the City of Roseville, Minnesota, this 12th day of May, 1986. The motion for the adoption of the foregoing resolution was duly seconded by member Chshmanand upon a vote being taken thereon, the following voted in favor thereof: All present, , and the following voted against the same: None. WHEREUPON said resolution was declared duly passed and adopted.