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<br />. <br /> <br />. <br /> <br />. <br /> <br />MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY <br /> <br />RESOLUTION NO. 97-EDA 77 <br /> <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />A RESOLUTION APPROVING AND AUTHORIZING A PURCHASE AND <br />REDEVELOPMENT AGREEMENT BY AND BETWEEN THE MOUNDS VIEW <br />ECONOMIC DEVELOPMENT AUTHORITY AND PREFERRED BUILDERS, INe. <br /> <br />It is hereby resolved by the Board of Commissioners (the "Board") of the Mounds View <br />Economic Development Authority (the "Authority") as follows: <br /> <br />1. Recitals. <br /> <br />a. The Authority has the powers provided in the Minnesota Statutes, <br />Sections 469-124 10469.134 and 469.090 to 469.108 (collectively, the <br />"Act"). <br /> <br />b. <br /> <br />Pursuant to and in furtherance of the objectives of the Act, the <br />Authority has undertaken a program to promote development and <br />redevelopment of certain land within the City of Mounds View and in this <br />connection is engaged in carrying out the Mounds View Economic <br />Development Project (the "Project") within the City. <br /> <br />c. There has been approved pursuant to the Act a Project Plan for the <br />Project. <br /> <br />d. The redevelopment and development of property within the Project <br />by private developers are stated objectives of the Project Plan. <br /> <br />e. The Authority acquired the land and house located at 8265 Spring <br />Lake Road (the "Property") as part of the Housing Replacement Program <br />per Resolution No. 96-EDA49 and in furtherance of the objectives stated <br />above. <br /> <br />f. Preferred Builders, Inc. (the "Developer") is offering to purchase <br />the Property from the EDA under the guidelines of the Housing <br />Replacement Program for $28,000 of which the terms of the purchase and <br />redevelopment of the Property are outlined in the attached Purchase and <br />Redevelopment Agreement (the "Agreement"). <br />