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<br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION NO. 04-EDA-182 <br /> <br />MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />A RESOLUTION APPROVING AND AUTHORIZING A PURCHASE AND <br />REDEVELOPMENT AGREEMENT BY AND BETWEEN THE MOUNDS VIEW <br />ECONOMIC DEVELOPMENT AUTHORITY AND PRO CRAFT DEVELOPMENT <br /> <br />It is hereby resolved by the Board of Commissioners (the "Board") of the Mounds <br />View Economic Development Authority (the "Authority") as follows: <br /> <br />Section 1. Recitals. <br /> <br />1.01 The Authority has the powers provided in the Minnesota Statutes, <br />Sections 469-12410469.134 and 469.090 to 469.108. <br /> <br />1.02 Pursuant to and in furtherance of the objectives of the Act, the <br />Authority has undertaken a program to promote development and <br />redevelopment of certain land within the City of Mounds View and in <br />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 approved pursuant to the Act a Project Plan for the <br />Project. <br /> <br />1.04 The redevelopment and development of property within the Project by <br />private developers are stated objectives of the Project Plan. <br /> <br />1.05 The Authority acquired land pertaining to all of Lot 34 and the south <br />500 feet of Lot 35 in 1996, acquired the land and house located at <br />3016 County Road H2 (Lot 37) in 2001, and City acquired Lot 36 in <br />2004. All four parcels (the "Property") were acquired in furtherance of <br />the objectives stated above. <br /> <br />1.06 Pro Craft Development of Vadnais Heights in Minnesota (the <br />"Developer") is offering to purchase the Property from the EDA/City <br />for $299,000 of which the terms of the purchase and redevelopment <br />of the Property are outlined in the attached Purchase and <br />Redevelopment Agreement (the "Agreement"). <br /> <br />Section 2. Resolved. <br /> <br />2.01 That the Board hereby determines that the Authority's execution of <br />the Agreement and subsequent sale and redevelopment of the <br />Property would be in furtherance of the Project Plan and hereby <br />approves and authorizes said actions, including the execution of the <br />Agreement by the officers of the Authority in their discretion and at <br />such time, if any, as they may deem appropriate. <br />