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• RESOLUTION NO.96-EDA46 <br /> A RESOLUTION APPROVING HOUSING REPLACEMENT PROGRAM <br /> 111 It is hereby resolved by the Board of Commissioners (the"Board' of the Mounds View <br /> � Economic <br /> Development Authority(the"Authority")as follows: <br /> 1. Recitals. <br /> (a) The Authority has the powers provided in Minnesota Statutes,Sections 469.124 to <br /> 469.134 and 469.090 to 469.108 (collectively,the"Act"). <br /> (b) Pursuant to and in furtherance of the objectives of the Act,the Authority has undertaken <br /> a program to promote development and redevelopment of certain land within the City of Mounds View • <br /> and in this connection is engaged in carrying out the Mounds View Economic Development Project(the <br /> "Project")within the City. <br /> (c) There has been approve pursuant to the Act a Project Plan for the Project <br /> (d) The redevelopment and development of property within the Project by private developers <br /> are stated objectives of the Project Plan. <br /> (e) In order to achieve the objectives of the Project Plan,the Authority has determined to <br /> provide substantial aid and assistance through the financing of certain of the public costs of development. <br /> IIP (f) There has been presented to the Board a document detailing the proposed Housing <br /> Replacement Program,the stated purposes of which include reducing the social costs of blight,making <br /> better use of existing public infrastructure,and redistributing tax base to communities with higher levels <br /> 11103 of fiscal needs. This Program's objectives include replacing smaller,lower-value housing on scattered <br /> sites throughout the City with larger,new and higher-value housing designed for families,the elimination <br /> of blighting influences and substandard housing,and the increase of available quality housing for families <br /> within the City. <br /> 2. The Board hereby determines that the Housing Replacement Program is consistent with and <br /> would be in furtherance of the Project Plan and hereby approves that Program. <br /> 3. The Board hereby determines that the implementation of the Housing Replacement Program will <br /> help realize the public purposes of the Act and would be in furtherance of the Project Plan. <br /> • Adopted by the Board of Commissioners of the Monnds View Economic Development Authority on <br /> N\NY 13 , 1996. <br /> ident <br /> ATTEST: <br /> ' � � , -� <br /> pxecutive9ir. tor <br /> - • <br /> - <br />