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CONTRACT FOR PRIVATE R.EDEVELOMENT THIS AGREEMENT, made on or as of the day of 19 by and between The City of Roseville (the "City"), a statutory city of the State of Minnesota, having its principal offices at 2660 Civic Center Drive, Roseville, Minnesota, 55113 and The Housing Alliance, Inc. (the "Redeveloper"), a Minnesota corporation with its principal offices at 200 Butler North, 510 1st Avenue North, Minneapolis, Minnesota, 55403. WITNESSETH: WHEREAS, the City is a statutorycity of the second class organized and existing pursuant to the Constitution and laws of the State of Minnesota and is governed by the City Council of the City; and WHEREAS, pursuant to the Municipal Development Districts Act, Minnesota Statutes, Section 472A.01 et seg., as amended, the City Council is authorized to establish development districts in order to provide for the development and redevelopment of the City; and WHEREAS, pursuant to the Minnesota Tax Increment Financing Act, Minnesota Statutes, Sections 273.71-273.78, as amended, the Council is authorized to finance the capital and administration costs of a development district with tax increment revenues derived from a tax increment financing district established within such development district; and WHEREAS, the City Council of the City has established a development district (the "Development District") and a tax increment financing district (the "Tax Increment District") pursuant to the Municipal Development Districts Act and the Minnesota Tax Increment Financing Act; and WHEREAS, in connection with the Development District the Council of the City has approved a tax increment financing plan which has been prepared as of the date hereof (the "Plan"); and WHEREAS, the major objectives of the City Council sought to be accomplished by establishing the Development District are to: eliminate or correct physical deterrents to the development of land; provide adequate drainage, sidewalks, and other public improvements and facilities to enhance the area for new development; eliminate blighting influences which impede potential development; to achieve a high level of design and landscaping quality to enhance the physical environment; coordinate elements of the City's comprehensive plan with these project objectives; improve the financial base of the City; provide maximum opportunity, consistent with the needs of the City, for the development of the City by private enterprise; and provide increased employment opportunities; and WHEREAS, the Redeveloper has purchased, under a contract for deed certain real property located within the proposed Development District, which real property is more particularly described in Schedule A to this Agreement; and 1