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1~0~ ~~^~~'~~~ ~ 9 <br />• <br />RESOLUTION NO. 97-EDA73 <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br />RESOLUTION APPROVING AND AUTHORIZING THE EXECUTION OF A <br />PARTICIPATION AGREEMENT FOR THE REDEVELOPMENT OF 8265 SPRING LAKE <br />ROAD <br />WHEREAS, the Mounds View Economic Development Authority established a Housing <br />Replacement Program to remove houses which are in very poor condition, thereby, assisting in <br />the elimination of the blighting influence of substandard homes; and, <br />WHEREAS, the EDA purchased and demolished a substandard home located at 8265 <br />Spring Lake Road; and, <br />WHEREAS, the vacant lot at 8265 Spring Lake Road was advertised for sale by the EDA <br />to an eligible builder/buyer team; and, <br />WHEREAS, the EDA selected Loren Hansen Construction to purchase the lot and <br />construct a home within the guidelines set forth in the Contract for Private Development; <br />NOW THEREFORE, BE IT RESOLVED that the Economic Development Authority <br />approves and authorizes entering into a Participation Agreement with Loren Hansen <br />Construction for the purchase of 8265 Spring Lake Road. <br />Adopted this 25 day of August, l 997. <br />ATTEST: <br />President <br />(SEAL) <br />xecutive Director <br />