CC_Minutes_2008_0114 - Laserfiche WebLink

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WHEREAS, the Ieveloper is willing to purchase property, within the Project Area such property being legatly described in the attached E~Eubfiff A (the "Redevelopment Property") and to develop the Redevelopment Property; WHEREAS, the fee owner of the Redevelopment Property has placed various conditions on the sale of the Redevelopment Property to the Developer which if not fidfilled will terminate the sale and delay redevelopment; WHEREAS, consistent with the Tax Increment Plan, the City has determined in the past and continues to be willing, to provide financial and other assista~tce in accordance with the Act and in the, best interests of the Ciry in order to achieve the development goals for the development of Twin Lal:es including the Redevelopment Property; WHEREAS, the Seller's land is necessary to the completion of the redevelopment of the Project Area and the acquisition of such land has been and continues to be for a public purpose; WHEREAS, in further pursuit of the public goal of redevelopment, the City has agreed to use its power of eminent doroaiu to acquire such land as may be necessary to complete the Redevelopment Project and convey the lands so acquired to a qualified the developer, including the Redevelopment Property; N®W,'I'IIEIbE~®RE, I3~ I'I' RE3®]LVIEID by the City of Roseville as follows: The City defet'mines that the acquisition of the Redevelopment Property will serve a public purpose. 3. The City does hereby find that it is reasonable, necessary, proper' and convenient, and in theinterest of the public health, safety, convenience and general welfare, to acquire fee title to such lands are necessary to develop the Redevelopment Property as part of the Twin Lakes Project.