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DRAFT <br />City of Mounds View <br />Housing Replacement Program <br />the Program. Non -homesteaded vacant property will be considered for acquisition. <br />Tenant -occupied properties will not be considered for purchase or funding for <br />demolition by the EDA on a case-by-case basis. <br />8. Prior to approval by the EDA for participation in the Program, properties over 50 years <br />old must be evaluated for historical significance. This will be accomplished by <br />forwarding general property information and a property photo to the Minnesota <br />Historical Society for review. The EDA will not enter into a purchase agreement or <br />award funding for demolition on a property which qualifies for the National Registry of <br />Historical Structures. <br />H. Program Priorities <br />If more than one application for acquisition or demolition funding has been received during a given <br />month, the Program Staff shall rank the applications to determine the best candidates for Program <br />participation based on the information and criteria noted below: <br />1. Properties that can meet EDA established guidelines and time frame will be considered first. <br />2. Properties with the lowest values and poorest visible conditions will be considered first. <br />3. Properties should be equally distributed by location and value throughout the City when <br />possible, and provide a viable financial mix of properties to support Program financial <br />requirements. <br />I. Option 1• Acauisition of Property by EDA <br />Blight Qualification: Once an offering letter is received from the interested participant, <br />Program Staff shall arrange, by appointment, an inspection of the interior of the home to <br />establish blight qualification as outlined in Section G. The following information will also <br />be obtained during the inspection: <br />a. Demolition information for estimating demolition credit to builder. <br />b. A determination as to the existence of any hazardous materials on the property. This <br />includes: <br />(1) a visual inspection <br />(2) a statement from the interested participant regarding any knowledge of the <br />property's use for production, storage, deposit, or disposal of any toxic or <br />hazardous wastes or substances or asbestos products whatsoever, during the time <br />the interested participant owned the property and prior to the date of interested <br />participant purchased property. Properties with environmental problems or <br />hazards may be considered if the purchase price is reduced sufficiently to cover <br />increased site clearance and preparation costs. <br />Page 3 <br />