Resolution 96-EDA55 - Laserfiche WebLink

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. . . MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 96-EDA55 COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION APPROVING AND AUTHORIZING THE ACQUISITION OF 2975 HIGHW A Y 10 FOR REDEVELOPMENT PURPOSES AND THE EXECUTION OF A PURCHASE AGREEMENT FOR THAT PURCHASE 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 469.124 and 469.090 to 469.108 (collectively the "AcC). (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 this connection is engaged in carrying out the Mounds View Economic Development Project (the "Project") within the City. (c) There has been approved 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 ofthc 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 public costs of development. (t) The Authority desires to acquire the approximately .63 acres ofland located in the City at 2975 Highway 10 (the "Property"), bounded generally be Highway 10 and Spring Lake Road, and it has been proposed that the Authority enter into a purchase agreement (the "Agreement") with the owners of that property for that acquisition presently estimated at a cost of$106,000. (g) The Authority authorizes an expenditure no greater than 3% of the purchase price to be used for closing costs.