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City of Mounds View DRAFT <br />Housing Replacement Program <br />(Revised June 1999) <br />A. Statement of Purpose <br />The Mounds View Economic Development Authority Housing Replacement Program <br />("Program") is established to reduce the social costs of blight, improves residential <br />neighborhoods and increases the tax base. <br />B. Program Obiectives <br />• Replace deteriorating lower value housing on scattered sites throughout the City with larger, <br />higher value housing designed for families. <br />• Eliminate the blighting influence of substandard housing. <br />• Increase the availability for quality housing for families. <br />C. Program Funding <br />The Program is funded through Tax Increment Financing and administered by the Mounds View <br />Economic Development Authority (EDA). <br />D. Data Privacy <br />All files and information, which identifies property and persons, is private and cannot be <br />released. All information secured through the Program is subject to the Data Privacy Act. <br />E. Program Options <br />The Program offers two options for participation. <br />O t__�ion 1: This option involves the sale of substandard single family homes and land to the <br />EDA. The EDA's goal is to offer the property for sale for the redevelopment of new, <br />standard housing. <br />option 2: This option involves the property owner retaining the property where a <br />substandard single family house is located, and receiving funding from the EDA for <br />demolition of the house with an agreement that it will be replaced with standard housing <br />meeting certain EDA guidelines and time frame. <br />F. Publicizing the Program; Making Application <br />1. EDA staff, or their appointee(s) ("Program Staff'), will solicit participants by direct mail, <br />advertisement, or other method. The number of applications accepted for participation in the <br />Program will be determined by the availability of personnel and financial resources. <br />2. Participation in the Program must be on a voluntary basis. Interested participants must be <br />able to furnish proof of ownership of the property, and are required to respond to the EDA <br />