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<br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION NO. 00-EDA-134 <br /> <br />MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION APPROVING AND AUTHORIZING THE EXPENDITURE OF TAX <br />INCREMENT FUNDS FOR THE ACQUISITION OF 7861 GROVELAND ROAD FOR THE <br />PURPOSE OF FUTURE REDEVELOPMENT <br /> <br />It is hereby resolved by the Board ofConul1issioners (the "Board") of the Mounds View <br />Economic Development Authority (the "Authority") as follows: <br /> <br />Section I. Recitals. <br /> <br />1.10 The Authority has the powcrs provided in Minnesota Statutes, Sections <br />469.124 to 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 <br />has undertaken a program to promote development and redevelopment of certain land <br />within the City of Mounds View and in this connection is engaged in carrying out the <br />Mounds View Economic Development Project (the "Project") within the City. <br /> <br />1.03 There has been approved pursuant to the Act a Project Plan for the Project. <br /> <br />1.04 The redevelopment of property within the Project is a stated objective of <br />the Project Plan. <br /> <br />1.05 In order to achieve the objectives of the Project Plan, the Authority has <br />determined to provide substantial aid and assistance through the financing of certain <br />public costs of development. <br /> <br />1.06 lt has been proposed that the Authority acquire the property located in the <br />City at 7861 Grovc1and Road (the "Property") and that the Authority approve the <br />purchase agreement and/or similar agreement(s) (collectively, the "Agreement") attached <br />as "Appendix A" for the acquisition of the Property for the purposes of redevelopment. <br /> <br />Section 2. Resolved. <br /> <br />2.01 The Board hcrcby determines that the Authority's execution of the <br />Agreement and the subsequent acquisition and redevelopment of the Property would be in <br />furtherance of the Project Plan and hereby approves and authorizes said actions, including <br />the cxecution of the Agrcement by the officers of the Authority in their discretion and at <br />such time, if any, as they may deem appropriate. <br /> <br />2.02 Upon execution and delivery of the Agreement, thc officers and employees of <br /> <br />N :\DATA \GROUPS\ECO~DEV\EDA \Rcsolutions\Res OO\ResOO-134.doc <br />