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WHEREAS, the title holder of the Subject Property is NORTH MAPLE HOLDINGS, <br />LLC, a Minnesota limited liability company <br /> <br /> WHEREAS, the City Council has adopted its Development Program for the <br />Development District which provides that the future use of the Subject Property will be for <br />commercial development and related purposes; and <br /> <br /> WHEREAS, the City has performed all actions required by law to be performed prior to <br />the creation and amendment of the Development District, and adoption of the Development <br />Program and TIF Plan; and <br /> <br /> WHEREAS, the City has identified the area where the Subject Property is located, for <br />naming purposes, as "Ramsey Crossings"; and <br /> <br /> WHEREAS, City staff has studied the Ramsey Crossings area in detail, and has reported <br />its study of the area to the council; <br /> <br />WHEREAS, the City Council finds that the Subject Property is underutilized; and <br /> <br /> WHEREAS, the City Council finds that the Subject Property is small, irregularly shaped <br />and lies amongst poorly arranged parcels under a multiplicity of ownership, all of which factors <br />present obstacles to development of the Ramsey Crossings area; <br /> <br /> WHEREAS, the presence of inadequate infrastructure on the Subject Property and <br />surrounding area is likely to be a significant barrier to redevelopment of the Subject Property <br />without public intervention; and <br /> <br /> WHEREAS, acquisition of the Subject Property by the City is essential in order to <br />eliminate the Subject Property as a barrier to redevelopment of the Ramsey Crossings area; and <br /> <br /> WHEREAS, development of the Subject Property is unlikely to occur without the City's <br />involvement, acquisition and assemblage of the Ramsey Crossings area for further development <br />according to the City's objectives; and <br /> <br /> WHEREAS, the City Council finds that among the public benefits to be served by <br />acquisition or redevelopment of the Subject Property are improvement of public infrastructure <br />and other public amenities, expansion of the property tax base, increase of employment <br />opportunities, expansion of retail, commemial and employment services available to residents, <br />and furtherance of the objectives for which the Development District was established. <br /> <br /> WHEREAS, the City Council finds that redevelopment of the Subject Property pursuant <br />to the provisions of the Development Program is necessary, convenient, desirable, for a public <br />purpose, in the best interests of the citizens of the City and would promote the general health, <br />welfare and safety of the community; and <br /> <br />Resolution//06-05-141 <br />Page 2 of 4 <br /> <br /> <br />