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• City of Mounds View <br /> Housing Replacement Program Page 7 <br /> (3) Full payment of legal and consulting fees incurred by the EDA after <br /> the execution of the purchase agreement in preparation for the closing <br /> of the property. <br /> 5. Selection of Demolition Contractor and Procedures. After the property closing, Program <br /> Staff will select a demolition contractor by sending out Requests for Proposals (RFP)to <br /> at least three demolition contractors. The bid received with the lowest price will have <br /> priority. The demolition contractor must be able to meet project deadline as outlined in <br /> the RFP prior to awarding a contract. The demolition contractor will be required to <br /> obtain all necessary City permits and pay applicable fees. Overall demolition supervision <br /> will be provided by a designated Program Staff. <br /> 6. Marketing. Program Staff will advertise sale of the property by contacting the St. Paul <br /> Realtors Association, Residential Developers, interested buyers and posting signs on the <br /> property. <br /> • 7. Selection of Developer. Program Staff will negotiate the purchase of the property by an <br /> acceptable buyer/developer or buyer/builder team. If a buyer/developer or buyer/builder <br /> team can not be obtained, the EDA may consider selling property to a developer or <br /> builder for sale to the open market after completion. As part of the sale of the property, <br /> the buycr/dcvcloper tcam purchasing party must sign a development agreement with the <br /> • EDA which will stipulate housing design and time frame for completion. <br /> J. Option 2: Funding of Demolition <br /> 1. Blight Qualification: Properties being considered for demolition funding must meet blight <br /> qualifications as outlined in Section G. and Section I.1. <br /> 2. Need for Variances: If a variance is required to redevelop the property, the homeowner <br /> must obtain the variance prior to the award of demolition funds. If a variance is not <br /> granted, demolition funds shall not be awarded. <br /> 3. Comprehensive Plan/Zoning: The Comprehensive Plan designation and the zoning on the <br /> property must allow for its redevelopment by construction of a replacement single family <br /> residence. <br /> 4. Development Agreement: The interested participant must enter into a Development <br /> • Agreement with the EDA which will stipulate housing design and site development <br /> criteria and time frame for completion. The development agreement will include estimate <br /> 7 <br />