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are contemplated and authorized by a Senior Housing Program <br /> (the "Housing <br /> Program") adopted by the City Council pursuant to Minnesota Statutes, Chapter <br /> 462C; and <br /> WHEREAS, the Project is to be developed as a planned unit development <br /> pursuant to the terms of Agreement dated as of October2 001 <br /> between the City and the Developer(the "PUD Agreement"). <br /> WHEREAS, the proposed Project qualifies as a"housing development project" <br /> within the meaning of Minnesota Statutes, Sections 469.002, Subd. 15 and 469.017, <br /> and will promote and carry out the objectives of the Housing Program and the TIF <br /> Plan, will be in the vital best interests of the City and will promote the health, safety, <br /> morals and welfare of its residents, and are in accord with the public purposes and <br /> provisions of the applicable state and local laws. <br /> NOW, THEREFORE, in consideration of the mutual covenants and <br /> obligations of the HRA, the City and the Developer, the parties hereby represent, <br /> covenant and agree as follows: <br /> [The balance of this page intentionally left blank.] <br />