Resolution 99-EDA119 - Laserfiche WebLink

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. . . . RESOLUTION NO. 99-EDA-119 MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY COUNTY OF RAl\'rSEY STATE OF MINNESOTA RESOLUTION APPROVING AND AUTHORIZING THE EXECUTION OF THE FIRST AMENDED A:\'D RESTATED CONSTRUCTED AND REMOV AL AGREEME~T RELATING TO THE EXPENDITURE OF T AX INCREMENT FUNDS FOR THE DEMOLITION OF HOME AT 8300 FAIRCHILD AVENUE AS PART OF THE EDA HOUSING REPLACEMENT PROGRAM It is hereby resolved by the Board ot'Commissioners (the "Board") of the Mounds View Economic Development Authority (the "Authority") as follows: Section I. Recitals. 1.01 The Authority has the powers provided in Minnesota Statutes, Sections 469.J24 to 469.134 and 4()9Jl90 to 469.108 (collectively, the "Act"). J.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 e~llTying out the Mounds View Economic Development Project (the "Project") \vithin the City. 1.03 There has been approved pursuant to the Act a Project Plan for the Project. IJl4 The Housing Replacement Program has been adopted under and as part of the Project Plan. 1.05 The redevelopment ot'property within the Project is a stated objective of the Project Plan and the Housing Replacement Program. 1.06 In order to achieve the objectives of the Project Plan, the Authority has detellnined to provide substantial aid and assistance through the financing of certain public costs of Development. 1.07 The stated purposes of the Housing Replacement Program include reducing the social costs of blight. making better use of public infrastructure, and redistributing tax base to communities with higher levels of fiscal needs. The Housing Replacement Program' s objectives include replacing smaller, 100ver-value housing on scattered sites throughout the City with larger, ne\v and higher-value housing designed for families, the elimination ot' blighting influences and substandard housing, and the increase of available quality housing for families \vithin the City. 1.08 The Authority, on April 26, 1999, authorized the expenditure of Tax Increment funds for the demolition of the home located in the City at 8300 Fairchild Avenue (the "Property") and entered into an agreement with the o\vner for the c Icarance of the Property for redevelopment.