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RESOLUTION NO. 95-EDA-33 . CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION APPROVING EXPENDITURE OF TAX INCREMENT FUNDS FOR APPRAISAL OF V ACANT LAND ON HIGHWAY 10 It is hereby resolved by the Board of Commissioners ( the "Board") of the Mounds View Economic Development Authority (the "Authority") as follows: 1. Recitals. (a) The Authority has the powers provided in Minnesota Statutes, Sections 469.124 to 469.134 and 469.090 to 469.108 (collectively, the "Act"). (b) Pursuant to and in furtherance of the objectives of the Act, the Authority has undertaken a program to promote development and redevelopment of certain land within the City of Mounds View and in connection is engaged in carrying out the Mounds View Economic Development Project (the "Project") within the City. (c) There has been approval pursuant to the Act a Project Plan for the Project. . (d) The redevelopment and development of property within the Project by private developers are stated objectives of the Project Plan. (e) In order to achieve the objectives of the Project Plan, the Authority has determined to provide substantial aid and assistance through the financing of certain of the public costs of development. (f) The Authority desires to evaluate the acquisition of approximately 1.3 acres of vacant land on Highway 10 and it has deemed necessary' the expenditure of a maximum of $500 of tax increment funds for an appraisal of this property to accurately negotiate a purchase. 2. The Board hereby determines that the Authority's authorization of Tax Increment Funds for an appraisal would be in furtherance of the objectives of the Project Plan and will help realize the public purposes of the Act. . Adopted by the Board of Commissioners of the Mounds View Economic Development Authority on October 9, 1995 -- ~ . ------.. .. / . -- c7 . /" h ,n / ~'r...-"/ t:& /// Pe.sident . ... ../ ''IUIJ-A'& . Directo ' ATTEST: (SEAL)