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ATTACHMENT 1 <br /> RESOLUTION NO. 97-EDA73 • <br /> CITY OF MOUNDS VIEW <br /> COUNTY OF RAMSEY <br /> STATE OF MINNESOTA <br /> RESOLUTION APPROVING AND AUTHORIZING THE EXECUTION OF A <br /> PARTICIPATION AGREEMENT FOR THE REDEVELOPMENT OF 8265 SPRING LAKE <br /> ROAD <br /> WHEREAS, the Mounds View Economic Development Authority established a Housing <br /> Replacement Program to remove houses which are in very poor condition,thereby, assisting in <br /> the elimination of the blighting influence of substandard homes; and, <br /> WHEREAS,the EDA purchased and demolished a substandard home located at 8265 <br /> Spring Lake Road; and, <br /> WHEREAS, the vacant lot at 8265 Spring Lake Road was advertised for sale by the EDA <br /> to an eligible builder/buyer team; and, <br /> WHEREAS, the EDA selected Loren Hansen Construction to purchase the lot and <br /> construct a home within the guidelines set forth in the Contract for Private Development; <br /> NOW THEREFORE, BE IT RESOLVED that the Economic Development Authority <br /> approves and authorizes entering into a Participation Agreement with Loren Hansen <br /> Construction for the purchase of 8265 Spring Lake Road. <br /> Adopted this 25 day of August, 1997. <br /> ATTEST: <br /> President <br /> (SEAL) <br /> Executive Director <br /> • <br />