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City of Mounds View March 10, 19971111 <br /> Housing Replacement Program Page 7 <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. <br /> 3. Development Agreement: The interested participant must enter into a Development <br /> Agreement with the EDA which will stipulate building configurations and time frame for <br /> completion. The development agreement will include estimate of new taxes generated based <br /> on the construction of replacement cost. <br /> 4. Demolition Contract: The interested participant must obtain three estimates for <br /> demolition which will assist in determining the amount of demolition funds to award for the <br /> project. The chosen demolition contractor must be able to meet project deadlines as outline <br /> by program staff. The demolition contractor will be required to obtain all necessary City <br /> permits and pay applicable fees. Overall demolition supervision will be provided by a <br /> designated program staff in conjunction with the interested participant. <br /> N:\DATA\USERSUENNIFER\SHARE\MVHRP\HAPS.WPD <br /> DRAFT (April 21, 1997) 7 <br />