Laserfiche WebLink
Item No. <br />Staff Report No. <br />Meeting Date: 6-28-99 <br />Type of Business: ED --AIB <br />WK. Work Session; PH. • Public Hearing; <br />CA: Consent Agenda; EDAB: EDA Business <br />Mounds View City Council <br />Staff Report <br />To: Honorable Mayor and City Council <br />From: Steve Dorgan, Housing Inspector <br />Item Title/Subject: Housing Replacement Program Policy Amendment <br />Date of Report: June 21, 1999 <br />SUMMARY <br />At the EDA meeting on May 24, 1999, direction was provided by the Authority to amend the <br />Housing Replacement Program (HRP) policy. The board reviewed draft revisions to the policy at <br />the June 21, workshop meeting and provided requested changes for adoption. The requested <br />changes were to include: <br />1) The provision of a section to the policy, which outlines requirements for the <br />Development Agreement. <br />2) Submittal of a financial guarantee by the developer to the EDA which is 100% of <br />minimum improvement value. <br />3) A requirement that would allow the EDA to take possession of the property and <br />improvements in the event the developer fails to carry out its obligations as agreed. <br />The amendments are provided in a new section of the HRP policy named "Development <br />Agreement". This sections outlines information to be provided in development agreements. <br />ACTION TO BE CONSIDERED <br />Approve resolution 99 -EDA -115 amending the Housing Replacement Program as proposed. <br />Steve orga <br />Housing Inspector <br />612/717-4023 <br />steved@rcmnet.org <br />Attachments: 1) Mounds View HRP Policy with Amendments - DRAFT <br />2) Resolution 99 -EDA -115 <br />