Resolution 98-EDA89 - Laserfiche WebLink

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e e e RESOLUTION NO. 98-EDA-89 MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION GRANTING APPROVAL FOR EXPENDITURE OF TAX INCREMENT FUNDS TO FINANCE THE PROMOTION AND IMPLEMENTATION OF A HOME IMPROVEMENT FAIR It is hereby resolved by the Board of Commissioners (the "Board") of the Mounds View Economic Development Authority (the "Authority") as follows: Section I. Recitals. 1.10 The Authority has the powers provided in Minnesota Statutes, Sections 469.124 to 469.134 and 469.090 to 469.108 (collectively, the "Act"). 1.02 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. 1.03 There has been approve pursuant to the Act a Project Plan for the Project. 1.04 The redevelopment and development of property within the Project by private developers are stated objectives of the Project Plan. 1.05 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 development. 1.06 There has been presented to the Board an opportunity to promote and implement a "I-Iome Improvement Fair". The fair would work to promote home improvement and remodeling of the city's housing by providing resources needed for homeowners to improve their homes. The fair would be a venue for marketing the city sponsored housing programs, as well as other housing programs and funding sources available to homeowners of the city. 1.07 The Authority has appropriated $130,000 of tax increment funds for redevelopment purposes associated with housing for 1998. 1.08 A $2,500 commitment is needed to promote and implement a "Home Improvement Fair" for the city. Section 2. Resolved. 2.01 That the Board of the Authority authorizes the President and Executive Director to appropriate $2,500 in tax increment funds to finance the city's costs to develop, promote, and implement a "Home Improvement Fair" to encourage the improvement and redevelopment of, housing in the city.