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<br />RESOLUTION NO. 98-EDA-82 <br /> <br />. <br /> <br />MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION GRANTING APPROVAL FOR EXPENDITURE OF TAX INCREMENT FUNDS TO <br />FINANCE THE CITY'S COST IN PARTICIPATION WITH A CONSORTIUM OF SUBURBAN <br />COMMUNITIES IN THE DEVELOPMENT OF A REMODELING PLANBOOK <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 />Section I. Recitals. <br /> <br />1.10 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 />1.02 Pursuant to and in furtherance of the objectives of the Act, the Authority has <br />undertaken a program to promote development and redevelopment of certain land within the City of <br />Mounds View and in this connection is engaged in carrying out the Mounds View Economic <br />Development Project (the "Project") within the City. <br /> <br />1.03 There has been approve pursuant to the Act a Project Plan for the Project. <br /> <br />. <br /> <br />1.04 The redevelopment and development of property within the Project by private <br />developers are stated objectives of the Project Plan. <br /> <br />1.05 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 cel1ain of the public costs of <br />development. <br /> <br />1.06 There has been presented to the Board an opportunity to participate with a consortium <br />of first tier suburban communities in the creation of a remodeling planbook. The remodeling <br />plan book would serve to assist and promote remodeling projects involving detached housing within <br />the city. The remodeling planbook will also serve to promote both the City and it's housing. <br /> <br />1.07 The Authority has appropriated $300,000 of tax increment funds for redevelopment <br />purposes associated with single family housing for 1998. <br /> <br />1.08 A $5,000 commitment is required for the City to participate with the consortium of <br />suburban communities in the development of a remodeling plan book for the City. <br /> <br />Section 2. Resolved. <br /> <br />. <br /> <br />2.0 I That the Board of the Authority authorizes the President and Executive Director to <br />appropriate $5,000 in tax increment funds to finance the City's costs in participation with the <br />consortium of suburban communities for the development of a remodeling planbook for the City and <br />to approve the Letter of Understanding between Fridley Housing and Redevelopment <br />Authority (contract holder representing the suburban communities consortium) and the <br />Mounds View Economic Development Authority for the development of a remodeling <br />planbook. <br /> <br />2.02 That the Board ofthe Authority hereby grants final approval for the expenditure of <br />