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(c) There has been approved by the Council, pursuant to the Act, a Municipal Development Plan, Redevelopment Plan and Industrial Development District NO.1 Plan for the Project Area (collectively, the "Redevelopment Plan"). (d) In order to achieve the objectives of the Redevelopment Plan, the City has determined to provide substantial aid and assistance in connection with the Redevelopment Plan through the financing of certain of the public redevelopment costs in the Project Area. (e) Opus Northwest, L.L.C. (The "Developer") and the City have developed an approach for construction within the Project Area, in contemplation of a certain Development Agreement between the City and Developer (the "Development Agreement") stating the terms and conditions of such development and the City's responsibilities respecting the assistance thereof, and the Development Agreement has been presented to the Council for its consideration. 2. Approval. The City hereby approved the Development Agreement, substantially inthe form presented to the Council, to be dated as of its date of execution in 1997, and hereby authorizes the Mayor and City Manager to execute the Development Agreement on behalf of the City, with such additions and modifications as those officers may deem desirable or necessary, as evidenced by their execution thereof. 3. Implementation. Upon the execution and delivery of the Development Agreement, the officers and employees of the City are hereby authorized and directed to take or cause to be taken such actions as may be necessary on behalf of the City to implement said agreement. 4. Finding. The council hereby determines that the execution and performance of the Development Agreement will help realize the public purposes of the Act and are in furtherance of the Redevelopment Plan. 5. Reimbursement Note. Exhibit K of the Development Agreement is a Reimbursement Note payable from Pledged Project Tax Increments (as defined in the Development Agreement). The execution and delivery of the Reimbursement Note is authorized by a separate resolution. The motion for adoption of the foregoing resolution was duly seconded by Member Maschka and upon a vote being taken, the following voted in favor thereof: Goedeke, Mastel, Wiski, Maschka and Wall and the following voted against the same: None Whereupon said resolution was declared duly passed and adopted.