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City of Mounds View11111 <br /> Housing Replacement Program <br /> Statement of Purpose <br /> The City of Mounds View Housing Replacement Program ("the program) was established to <br /> reduce the social costs of blight, making better use of existing public infrastructure and <br /> redistributing the tax base to areas of the community with a higher level of fiscal needs. <br /> Program Objectives <br /> • Replace deteriorating lower value housing on scattered sites throughout the City with <br /> larger, new, higher value housing designed for families. <br /> • Eliminate the blighting influence of substandard housing, thus improving residential <br /> neighborhoods. <br /> • Increase the availability for quality housing for families. <br /> Program Funding <br /> This program is funded through Tax Increment Financing and administered by the Mounds <br /> View Economic Development Authority (EDA). <br /> Data Privacy <br /> All files and information which identifies property and persons is private and cannot be released. <br /> All information secured through the program is subject to the Data Privacy Act. <br /> Program Options <br /> The Housing Replacement Program offers two options for participation. <br /> Option 1: This option involves the sale of substandard single family house and land to the EDA. <br /> The EDA's goal is to offer the property for sale for the redevelopment of new, standard housing. <br /> Option 2:, This option involves the property owner retaining the property where a substandard <br /> single family house is located, and receiving funding from the EDA for demolition of the house <br /> with an agreement that it will be replaced with standard housing meeting certain EDA guidelines <br /> and time frame. <br /> • <br /> DRAFT (April 21, 1997) 1 <br />