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<br />. <br /> <br />. <br /> <br />. <br /> <br />WHEREAS, on June 28, 2004 the Mounds View EDA authorized staff to <br />draft a development agreement to provide $75,000 in Tax Increment Financing to <br />Velmeir to facilitate the redevelopment of the Amoco site at County Highway 10. <br />The Mounds View EDA recommended that the reimbursement be limited to costs <br />associated with demolition and clearing, and/or Rice Creek Watershed District <br />stormwater management requirements; and that the City provide a grant of <br />$75,000 from Tax Increment Financing (TIF) funds. <br /> <br />NOW, THEREFORE BE IT RESOLVED THAT, the Mounds View <br />Economic Development Authority hereby approves the Development Agreement <br />to provide a grant for $75,000 in Tax Increment Financing (TIF) Assistance to <br />Velmeir Co., LLC to facilitate the redevelopment of the commercial property <br />located at 2800 Co. Highway 10 in Mounds View; that the funded improvements <br />be limited to demolition and clearing, and/or RCWD stormwater management <br />requirements; and further that these funds would come from TIF District NO.2 <br />and would be paid to the developer on a reimbursement basis. <br /> <br />Adopted this 26th day of July, 2004 by <br />the Mounds View Economic <br />Development Authority <br /> <br />...--..'."") .f'. <br />"..--' / '2JZ? ~ <br />./" ' -/ ,,_.~ <br />~.. ./' //'- ,..--;:., <br />/.: ~/./ <br />_ / L --7' <br />Jefry LiflKe~"'pffisident <br />./ /' <br />/ / <br /> <br />I .~ L-Y- <br /> <br />Ulrich, Executive Director <br /> <br />