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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 22nd day of March 2010, at 6:00 p.m. <br />The following members were present:; <br />introduced the following Resolution and moved its adoption: <br />RESOLUTION NO. <br />APPROVING THE ACQUISITION <br />OF PROPERTY FOR IMPROVEMENTS TO <br />TWIN LAKES PARKWAY AND PRIOR AVENUE <br />WHEREAS, redevelopment of the Twin Lakes area has long been identified in the <br />Comprehensive Plan as an important priority for the City; and <br />WHEREAS, the Department of Employment and Economic Development (DEED) will <br />contribute funding to the City for the Phase 2 infrastructure improvements for the Twin Lakes <br />area; and <br />WHEREAS, the City must incur costs for the Phase 2 infrastructure improvements by <br />December 31, 2010, to receive reimbursement from DEED; and <br />WHEREAS, the improvements to Twin Lakes Parkway and Prior Avenue require the <br />City to acquire additional property adjacent to the existing roadways; and <br />WHEREAS, the City has identified the portions of adjacent properties necessary for the <br />improvements; and <br />WHEREAS, said portions of properties to be acquired are owned by Cobalt Industrial <br />REIT II; and <br />WHEREAS, acquisition of the properties is needed as soon as possible so that <br />construction of the roads can be completed by the end of 2010 and the City can be reimbursed by <br />DEED for certain costs associated w infrastructure improvements; and <br />WHEREAS, the construction of the improvements to Twin Lakes Parkway and Prior <br />Avenue necessitate the City obtaining temporary construction easements in order to access and <br />perform the necessary construction; and <br />WHEREAS, acquisition of the properties and temporary construction easements is <br />necessary and for the public purpose of providing infrastructure improvements; and <br />WHEREAS, the City desires to acquire the necessary properties and easements through <br />negotiation with the owners; and <br />