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Item No. 4 <br /> • Meeting Date: 6-21-98 <br /> Staff Report No. <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 Report <br /> To: Mounds View Economic Development Authority <br /> From: Steve Dorgan, Housing Inspector <br /> Item Title/Subject: MVHRP- Proposal to Purchase 2225 Hillview Road <br /> Date of Report: June 23, 1999 <br /> SUMMARY <br /> At the EDA meeting on May 24, 1999,the commission approved the acquisition of 2225 Hillview Road <br /> for participation in the Housing Replacement Program. The EDA directed staff to pursue the use of <br /> Community Development Block Grant(CDBG)funds appropriated to the EDA by Ramsey County for the <br /> acquisition and clearance of the subject lot. Use of CDBG funds by the city for the acquisition and <br /> demolition of property is contingent on guidelines set by the Department of Housing and Urban <br /> S Development. The guidelines include the value of the home and land as well as the overall condition of <br /> the proposed home. Therefore,the EDA may chose to approve the acquisition of the subject property <br /> with a priority to use CDBG funds if available and to use Tax Increment Funds in the event the property <br /> does not meet the Federal guidelines for use of CDBG funds. <br /> Attached is a resolution approving the use of CDBG and/or TIF funds for the appraisal and acquisition of <br /> the subject lot. The resolution also provides for the execution of a purchase agreement for the property. <br /> ACTION TO BE CONSIDERED <br /> Approve EDA Resolution No. 99-EDA-114 authorizing the acquisition of property located at 2225 <br /> Hillview Road for the Housing Replacement Program. <br /> Steve Dorgan,Housing Inspector <br /> 612/717-4023 <br /> email: steved@rcmnet.org <br /> Attachments: 1) Resolution No. 99-EDA-114 <br /> 2) Location Map <br /> • <br />