EDA Resolution 10-EDA-264 - Laserfiche WebLink

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EDA RESOLUTION 10 -EDA -264 MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION APPROVING CRITERIA FOR THE MOUNDS VIEW EMERGENCY DEFERRED HOME LOAN WHEREAS, the Mounds View Economic Development Authority (EDA) has Housing and Redevelopment Authority powers provided in Minnesota Statutes, Sections 469.001 to 469.047 and, WHEREAS, the purposes of Sections 469.001 to 469.047 are: (1) to provide a sufficient supply of adequate, safe, and sanitary dwellings in order to protect the health, safety, morals, and welfare of the citizens of this state; (2) to clear and redevelop blighted areas; (3) to perform those duties according to comprehensive plans; (4) to remedy the shortage of housing for low and moderate income residents, and to redevelop blighted areas, in situations in which private enterprise would not act without government participation or subsidies; and (5) in cities of the first class, to provide housing for persons of all incomes; and, WHEREAS, pursuant to the purposes of Housing and Redevelopment Authority powers, in September 2010, the Mounds View City Council directed City staff to develop criteria for a new, one -year pilot home improvement loan program; and, WHEREAS, the Mounds View Emergency Deferred Home Loan would provide up to $7,000 at 0% interest to owner occupied single family, duplex and manufactured home properties in Mounds View; and, WHEREAS, the goal of the Mounds View Emergency Deferred Home Loan is to provide assistance to homeowners that are in hardship financial circumstances, are unable to get money from other sources and have a serious health and safety home repair situation that poses a threat to Mounds View residents if not addressed immediately.