Agenda Packets - 1995/06/05 - Laserfiche WebLink

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MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION NO. 95-EDA-27 RESOLUTION APPROVING BUSINESS LOAN PROGRAM BE IT RESOLVED by the Board of Commissioners (the "Board") of the Mounds View Economic Development Authority (the "EDA") as follows: Section 1. Recitals. 1.01. The EDA has adopted and approved the Mounds View Economic Development Project, including the "Project Plan" for the development, redevelopment and revitalization of the City of Mounds View. 1.02. By action and approvals taken on May 9, 1994, the Board approved certain goals of the Project Plan, including the retention, rehabilitation and preservation of the commercial and industrial facilities and tax base of the City and the implementation of business loan programs. 1.03. By Resolution No. 95-EDA 23 adopted on February 13, 1995, the Board has given its general consent and approval to a small business loan program for Mounds View businesses, and in the interim there have been prepared and submitted on the date hereof for the Board's consideration the forms, statements of goals, draft participation agreement and other materials pursuant to which the EDA would implement that program (collectively, the "Loan Program"). Section 2. Findings for the Adoption and Approval of the Loan Program. 2.01. The Board hereby finds that the Loan Program would be in the public interest and that the proposed development and redevelopment would not occur solely through private investment within the reasonably foreseeable future and, therefore, the use of tax increment financing is deemed necessary; that the Loan Program conforms to the Project Plan and to the general plan for the development or redevelopment of the City as a whole; and that the Loan Program will afford maximum opportunity, consistent with the sound needs of the City as a whole, for the development of the Mounds View Economic Development Project by private enterprise. 288371.1