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<br />e.The Buyer must execute a Tax Increment Financing (TIF) Agreement <br />providing a Business Subsidy. <br /> <br />f.The Buyer shall record a Minimum Assessment Agreement. <br /> <br />g.The Buyer must execute a Right of Re-Entry Agreement with the City and record <br />the document with Anoka County Property Records and Taxation/Registrar of <br />Titles. <br /> <br />2) That the City approves the lot split and legal descriptions of Tract A (the “Property”) and <br />Tract B legally described in Exhibit B, attached hereto. <br /> <br />3) That the City Council hereby authorizes the City Administrator and Mayor to sign any and <br />all documents necessary to close on the sale of the Property, consistent with Charter and <br />State law requirements. <br /> <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br />Kuzma, and upon vote being taken thereon, the following voted in favor thereof: <br /> <br /> Mayor LeTourneau <br /> Councilmember Musgrove <br /> Councilmember Kuzma <br /> Councilmember Heinrich <br /> Councilmember Menth <br /> Councilmember Riley <br /> Councilmember Specht <br /> <br />and the following voted against the same: <br /> <br /> None <br /> <br />and the following abstained: <br /> <br /> None <br /> <br />and the following were absent: <br /> <br /> None <br /> <br />Whereupon said resolution was declared duly passed and adopted by the Ramsey City Council this <br />th <br />the 12 day of May, 2020. <br /> <br /> <br /> Mayor <br /> <br />ATTEST: <br /> <br /> <br /> <br />City Clerk <br /> <br />Resolution #20-086 <br />Page 2 of 4 <br /> <br /> <br />