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• <br /> • Item No. 5 A <br /> • Staff Report No. <br /> Meeting Date: 4-27-98 <br /> Type of Business: EDAB <br /> WK:Work Session;PH:Public Hearing; <br /> CA:Consent Agenda;EDAB:EDA Business <br /> Mounds View Economic Development Authority <br /> Staff Re port <br /> To: Mounds View Economic Development Authority <br /> From: Steve Dorgan,Housing Inspector ' <br /> Item Title/Subject: Appropriation of TIF funds for"Home Improvement Fair" <br /> Date of Report: April 24, 1998 <br /> • <br /> SUMMARY <br /> At the EDC meeting on April 23, 1998,the commission approved a resolution recommending the EDA <br /> appropriate$2,500 in tax increment funds to promote and implement a"Home Improvement Fair"to occur in <br /> the spring of 1999.Because of the cities aging housing stock, it is imperative that we encourage <br /> reinvestment to avoid blight and encourage the upgrade and quality of housing in the_city. Numerous <br /> communities throughout the metropolitan area organize an annual fair which features local contractors, <br /> financial institutions and other various exhibits relating to home remodeling and improvement. Cities <br /> which have held fairs indicate investments in fairs are a break even venture with revenue coming from <br /> the rental of booths to venders. A"Home Improvement Fair" sponsored by the city would not only <br /> promote home improvement and redevelopment within the city,but may also be used to promote other <br /> city services as well. As an example,the fair could be held at the new Community Center to kick off <br /> it's opening. The fair may also be used as a venue for marketing a city sponsored loan program, as <br /> well as other housing programs and funding sources to promote home improvement and redevelopment <br /> of housing within the community. <br /> ACTION TO BE CONSIDERED • <br /> Adopt EDA Resolution No.98-EDA-90 approving the appropriation of$2,500 in tax increment funds to <br /> promote and implement a"Home Improvement Fair"to occur in the spring of 1999. <br /> Steve Dorgan,Housmg Inspector <br /> 717-4023 • <br /> Attachments: Exhibit A- EDC Resolution No.98-EDC-22 <br /> Exhibit B- Resolution No. 98-EDA-90 <br /> N:\DATA\GROUPS\ECONDEVIEDA EDOHOMEFAnt\EDA4 27.MEM <br />