Resolution 97-EDA86 - Laserfiche WebLink

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. . . RESOLUTION NO. 98-EDA86 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION APPROVING TAX INCREMENT ASSISTANCE AND AUTHORIZING THE NEGOTIATION OF A DEVELOPMENT ASSISTANCE AGREEMENT WITH THE SILVERVIEW ESTATES, INC. 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) Pursuant to Minnesota Statues, Sections 469.124 to 469.134 and 469.090 to 469.1 08 (collectively, the "Act") (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 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 arc stated objectives of the 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 of the public costs of devclopment (f) Silverview Estates, Inc. (the "Developer"), has presented the Authority with a proposal for the completion of certain improvements within the Project, consisting of the construction of a mixed use project including a gasoline convcnience store/car wash, a 25,000 square foot two story office building, a 5000 square foot one story office building, and an 82 unit senior apartment building. (g) The Developer has requested pay-as-you-go tax increment financing assistance for the project. (h) The Mounds View Economic Development Commission has reviewed the Developer's request and approved Resolution No. 98-EDC21 recommending that the Authority approve pay-as-you-go tax increment assistance for the proposed project.