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EXTRACT OF MINUTES OF MEETING OF THE <br />CITY COUNCIL OF THE CITY OF ROSEVILLE <br />Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of <br />Roseville, County of Ramsey, Minnesota, was held on the 25th day of April, at 6.Oa p.m. <br />The following members were present: <br />Council Member <br />adoption <br />introduced the following resolution and moved its <br />RESOLUTION NO. <br />A RESOLUTION APPROVING A TERM SHEET WITH THE <br />ROTTLUND COMPANY, INC. FOR THE TWIN LAKES <br />REDEVELOPMENT AREA AND APPROVING THE PAYMENT OF <br />CERTAIN CONSULTING FEES <br />BE IT RESOLVED by the City Council (the "Council") of the City of Roseville, Minnesota (the <br />"City"), as follows: <br />Section 1. Term Sheet with The Rottlund Companv, Inc. ("Rot�lund"). <br />1.01 On March 14, 2005, the Council authorized City staff to continue to work with <br />Rottlund on the tasks and for the purposes set forth in the Contract for Exclusive Negotiations <br />dated March 29, 2004 with a view to submitting a proposed Contract for Private Redevelopment <br />to the City no later than June 13,2005, and <br />1.02 The City has presented to Rottlund a term sheet (the "Term Sheet"), attached as <br />Schedule A, outlining the terms and conditions under which the City is willing to enter into a <br />Contract for Private Redevelopment with the Redeveloper. <br />1.03 The Council hereby finds that the proposed redevelopment which would be the <br />subject of the Contract for Private Redevelopment promotes the objectives as outlined in its <br />Development Program. <br />1.04 The Council hereby fmds that the proposed redevelopment is located in an area <br />which the Council intends to include in the Tax Increment District pursuant to Minnesota <br />� <br />