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<br />EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE CITY OF <br />ROSEVILLE, MINNESOTA <br /> <br />HELD: March 24, 1997 <br /> <br />Pursuant to due call and notice thereof, aregu1armeeting of <br />the City Council of the City of Roseville, Ramsey County, <br />Minnesota, was duly called and held at the City Hall in said City <br />on Monday, the 24th day of March, 1997, at 6:30 p.m. <br /> <br />The following members were present: <br /> <br />Mastel, VI ski , Goedeke, Maschka, and Wall, <br /> <br />and the following were absent: None. <br /> <br />Member Maschka introduced the following <br />resolution and moved its adoption. <br />RESOLlJTION 9395 <br />RESOLL~ION APPROVING DEVELOPMENT AGREEME~~ <br />Arm DEVELOPMENT AGREEMENT AMENDMENTS <br />Wl7H RYAN TWIN LAKES LIMITED PARTNERSHIP <br /> <br />WHEREAS, a Development Agreement (as defined in paragraph 1) <br />has been prepared with respect to Public Redevelopment Costs of <br />Tax Increment Financing District No. 1 in Municipal Development <br />District No.1, Industrial Development District No. 1 and <br />Redevelopment Project Area, and the use of tax increments <br />generated by such tax increment district and other tax increment <br />districts; and <br /> <br />WHEREAS, the Development Agreement will permit the <br />settlement of certain litigation relating to the Redevelopment <br />Property (as defined in the Development Agreement); and <br /> <br />WHEREAS, in connection with the Development Agreement, the <br />City and Developer (as defined below) will enter into an <br />"Amendment to Development Agreement (Midwest Motor Express and <br />Indianhead Project) and Supplement to Third Amended and Restated <br />Development Agreement" (the "Amendment and Supplement"} , <br />recognizing the substitution of the Development Agreement for <br />certain aspects of the development agreements amended and <br />supplemented: <br /> <br />343721.2 <br />