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Item No. cc <br /> • Staff Report No. <br /> Meeting Date: 6-28-99 <br /> Type of Business: EDAB <br /> WK:Work Session;PH:Public Hearing; <br /> CA:Consent Agenda;EDAB:EDA Business <br /> Mounds View City Council <br /> Staff Report <br /> To: Honorable Mayor and City Council <br /> From: Steve Dorgan, Housing Inspector <br /> Item Title/Subject: Housing Replacement Program Policy Amendment <br /> Date of Report: June 21, 1999 <br /> SUMMARY <br /> At the EDA meeting on May 24, 1999, direction was provided by the Authority to amend the <br /> Housing Replacement Program(HRP) policy. The board reviewed draft revisions to the policy at <br /> the June 21, workshop meeting and provided requested changes for adoption. The requested <br /> changes were to include: <br /> • 1) The provision of a section to the policy, which outlines requirements for the <br /> Development Agreement. <br /> 2) Submittal of a financial guarantee by the developer to the EDA which is 100% of <br /> minimum improvement value. <br /> 3) 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 amendments are provided in a new section of the HRP policy named"Development <br /> Agreement". This sections outlines information to be provided in development agreements. <br /> ACTION TO BE CONSIDERED <br /> Approve resolution 99-EDA-115 amending the Housing Replacement Program as proposed. <br /> Steve r orga l <br /> Housing Inspector <br /> 612/717-4023 <br /> steved@rcmnet.org <br /> Attachments: 1) Mounds View HRP Policy with Amendments-DRAFT <br /> 11/ 2) Resolution 99-EDA-115 <br />