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� ...: . . . . . . ... .. . . .�� . , . -' _; - i�__ . . ' ._ "�. _ _ I.'� ""_" _' ' '. _' ' ..- .... .. . _�_- � 1 RESOLUTION NO. 97-EDA-59 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION APPROVING AND AUTHORIZING THE ACQUISITION OF 8283 LONG LAKE ROAD UND�R THE EDA'S HOUSING REPLACEMENT PROGRAM It is hereby resolved by the Board of Commissioners (the "Board") of the Mounds View Economic Development Authority (the "Authority") as follows: Recitals (a) Pursuant to Minnesota Statues, Sections 469.124 to 469.134 and 469.090 to 469.108 (collectively, the "Act"), the Authority (I) has undertaken a program to promote development and redevelopment of certain land within the City of Mounds View and is engaged in carrying out the Mounds View Economic Development Project (the "Project") within the City; (ii) has approved a Project Plan for the Project; and (iii) has approved and adopted a Housing Replacement Program under and as an aspect of the Project Plan. (b) The redevelopment of property within the Project is a stated objective of the Project Plan and the Housing Replacement Program. (c) The stated purposes of the Housing Replacement Program include reducing the social costs of blight, making better use of existing public infrastructure, and redistributing tax base to communities with higher levels of fiscal needs. The Housing Replacement Program's objectives include replacing smaller, lower-value housing on scattered sites throughout the City with larger, new higher-value housing designed for families, the elimination of blighting influences and substandard housing, and the increase of available quality housing for families within the City. (d) It has been proposed that the Authority acquire the property located at 8283 Long Lake Road (the "Property") and that the Authority enter into a purchase agreement and/or similar agreement(s) (collectively, the "Agreement") for that acquisition and/or subsequent clearance of the property for redevelopment. 2. The Board hereby determines that the Authority's execution of the Agreement and the subsequent acquisition and/or clearance of the Property would be in furtherance of the Project Plan and the Housing Replacement Program and hereby approves and authorizes said actions, including the execution of the Agreement by the officers of the Authority in their discretion and at such time, if any, as they may deem appropriate.