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RESOLUTION NO. <br /> RESOLUTION APPROVING REDEVELOPMENT PROJECT CONCEPT AND <br /> DETERMINING CERTAIN BUILDINGS TO BE STRUCTURALLY SUBSTANDARD <br /> It is hereby resolved by the Board of Commissioners (the <br /> "Board" ) of the Mounds View Economic Development Authority (the <br /> "Authority" ) as follows : <br /> 1 . Recitals . <br /> (a) The Authority has the powers provided in Minnesota <br /> Statutes, Sections 469 . 090 to 469 . 108. (collectively, the <br /> "Act" ) . <br /> (b) Pursuant to and in furtherance of the objectives of <br /> the Act, the Authority has undertaken a program to promote <br /> development and redevelopment of the City of Mounds View and <br /> in this connection is engaged in carrying out the Mounds View <br /> Economic Development Project (the "Development Project" ) <br /> within the City. <br /> (c) There has been approved pursuant to the Act a Project <br /> Plan for the Development Project . <br /> (d) The redevelopment and development of property within <br /> the Development Project by the Authority and by private <br /> developers are stated objectives of the Project Plan. <br /> (e) In order to achieve the objectives of the Development <br /> Project, the Authority has determined to provide substantial <br /> aid and assistance through the financing of certain of the <br /> public costs of development. <br /> (f) An approximately nine parcel redevelopment project <br /> has been proposed along Highway 10 which would consist of the <br /> redevelopment and removal of numerous existing substandard <br /> structures on such property, the assembly of a suitable <br /> commercial site, and the completion of new commercial <br /> development (s) (collectively, the "Project") based on future <br /> discussions with potential developers, and the Board has <br /> discussed the use of tax increment financing to assist the <br /> Project and has discussed the possible early removal of <br /> existing substandard structures on said property, including <br /> particularly at the present the structure (s) located at 2625 <br /> Highway 10 NE (the "Parcel") , upon acquisition thereof by the <br /> Authority. <br /> 2 . Development Agreement . Pursuant to the provisions of <br /> Minnesota Statutes, Section 469 . 174, Subdivision 10 (which in part <br /> 302612.1 <br />