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<br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION NO. 96-EDA46 <br />A RESOLUTION APPROVING HOUSING REPLACEMENT PROGRAM <br /> <br />It is hereby resolved by the Board of Commissioners (the "Board") of the Mounds View Economic <br />Development Authority (the "Authority") as follows: <br /> <br />1. Recitals. <br /> <br />(a) The Authority has the powers provided in Minnesota Statutes, Sections 469.124 to <br />469.134 and 469.090 to 469.108 (collectively, the "Act"). <br /> <br />(b) Pursuant to and in furtherance of the objectives of the Act, the Authority has undertaken <br />a program to promote development and redevelopment of certain land within the City of Mounds View <br />and in this connection is engaged in carrying out the Mounds View Economic Development Project (the <br />"Project") within the City. <br /> <br />(c) There has been approve pursuant to the Act a Project Plan for the Project. <br /> <br />(d) The redevelopment and development of property within the Project by private developers <br />are stated objectives of the Project Plan. <br /> <br />(e) In order to achieve the objectives of the Project Plan, the Authority has determined to <br />provide substantial aid and assistance through the financing of certain of the public costs of development. <br /> <br />(f) There has been presented to the Board a document detailing the proposed Housing <br />Replacement Program, the stated purposes of which include reducing the social costs of blight, making <br />better use of existing public infrastructure, and redistributing tax base to communities with higher levels <br />of fiscal needs. This Program's objectives include replacing smaller, lower-value housing on scattered <br />sites throughout the City with larger, new and higher-value housing designed for families, the elimination <br />of blighting influences and substandard housing, and the increase of available quality housing for families <br />within the City. <br /> <br />2. The Board hereby detennines that the Housing Replacement Program is consistent with and <br />would be in furtherance of the Project Plan and hereby approves that Program. <br /> <br />3. The Board hereby detennines that the implementation of the Housing Replacement Program will <br />help realize the public purposes of the Act and would be in furtherance of the Project Plan. <br /> <br />Adopted by the Board of Commissioners of the Mounds View Economic Development Authority on <br />_M-"'-"'-l3 ,1996. c2../~ <br /> <br />President ' <br />/ <br /> <br />ATTEST: <br /> <br />ji': .. dJ" <br />/ ...'- .'. . (." ., ,.::r <br />,L ,j/~( ,,""'-:::;-,-i&'J vl'\...:j{;; <br />Executive Director <br />/ ',/' / <br />