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MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY <br /> RESOLUTION NO. 99-EDA-113 <br /> COUNTY OF RAMSEY <br /> STATE OF MINNESOTA <br /> A RESOLUTION APPROVING AND AUTHORIZING A PURCHASE AND <br /> REDEVELOPMENT AGREEMENT BY AND BETWEEN THE MOUNDS VIEW <br /> ECONOMIC DEVELOPMENT AUTHORITY AND MARQUIS BUILDERS, INC. <br /> It is hereby resolved by the Board of Commissioners (the "Board") of the Mounds View <br /> Economic Development Authority(the "Authority") as follows: <br /> 1. Recitals. <br /> a. The Authority has the powers provided in the Minnesota Statutes, <br /> Sections 469-124 10 469.134 and 469.090 to 469.108 (collectively, the <br /> "Act"). <br /> b. Pursuant to and in furtherance of the objectives of the Act, the <br /> Authority has undertaken a program to promote development and <br /> redevelopment of certain land within the City of Mounds View and in this <br /> connection is engaged in carrying out the Mounds View Economic <br /> Development Project (the"Project")within the City. <br /> c. There has been approved pursuant to the Act a Project Plan for the <br /> Project. <br /> d. The redevelopment and development of property within the Project <br /> by private developers are stated objectives of the Project Plan. <br /> e. The Authority acquired the land and house located at 6991 Pleasant <br /> View Drive(the "Property") as part of the Housing Replacement Program <br /> per Resolution No. 98-EDA-93 and in furtherance of the objectives stated <br /> above. <br /> f. Marquis Builders, Inc. (the "Developer") is offering to purchase the <br /> Property from the EDA under the guidelines of the Housing Replacement <br /> Program for$49,500 of which the terms of the purchase and <br /> redevelopment of the Property are outlined in the attached Purchase and <br /> Redevelopment Agreement (the"Agreement"). <br />