Laserfiche WebLink
• RESOLUTION NO. 99-EDA-115 <br /> CITY OF MOUNDS VIEW <br /> COUNTY OF RAMSEY <br /> STATE OF MINNESOTA <br /> A RESOLUTION APPROVING AMENDMENTS TO THE HOUSING REPLACEMENT PROGRAM <br /> It is hereby resolved by the Board of Commissioners(the"Board")of the Mounds View Economic Development <br /> Authority(the"Authority")as follows: <br /> 1. Recitals. <br /> (a) Pursuant to Minnesota Statutes,Sections 469.124 to 469.134 and 469.090 to 469.108. (collectively,the <br /> "Act"),the Authority(i)has undertaken a program to promote the development and redevelopment of certain <br /> land within the City of Mounds View and in this connection is engaged in carrying out the Mounds View <br /> Economic Development Project(the"Project")within the City; (ii)has approved a Project Plan for the <br /> Project; and(iii)has approved and adopted a Housing Replacement Program under and as an aspect of the <br /> project plan. <br /> (b) The redevelopment of property within the project is a stated objective of the Project Plan and the Housing <br /> Replacement Program. <br /> (c) The Housing Replacement Program's objectives include replacing lower-value housing on scattered sites <br /> throughout the City with larger,new and higher value housing designed for families,the elimination of <br /> blighting influences and the increase of available quality housing for families within the City. <br /> • <br /> (d) Including the addition and replacement of language which includes but is not limited to; <br /> (i) the provision of a section to include guidelines for drafting a Development Agreement for <br /> the sale of the property; <br /> (ii) requirement for submittal of a financial guarantee by the developer to the EDA which is <br /> 100%of the minimum improvement value; <br /> (iii) 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 changes are being presented as amendments to the Housing Replacement Program. <br /> 2. The Board hereby determines that including(i)the provision of a section to include guidelines for drafting a <br /> Development Agreement for the sale of the property; (ii)require the submittal of a financial guarantee by the <br /> developer to the EDA which is 100%of minimum improvement value;(iii)a requirement that would allow the <br /> EDA to take possession of the property and improvements in the event the developer fails to carry out its <br /> obligations as agreed;is consistent with and would be in furtherance of the Project Plan and hereby approves <br /> that Program. <br /> 3. The Board hereby determines that the implementation of these amendments will help realize the public <br /> purpose of the Act and would be in furtherance of the Project Plan <br /> Adopted by the Board of Commissioners of the Mounds View Economic Development Authority on June 28, <br /> 1999. <br /> 110 <br /> Dan Coughlin,President <br /> ATTEST: <br /> Charles S.Whiting,Executive Director <br />