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Mounds View EDA January 9, 2012 <br />Regular Meeting Page 2 <br /> <br /> <br />Economic Development Specialist Steinmetz explained the EDA bylaws state the Authority shall <br />elect a President, Vice President, Treasurer and Secretary at the first meeting of each year. If the <br />same roles are filled as was done in 2011, the President would be Joe Flaherty, the Vice President <br />would be Roger Stigney, the Treasurer would be Carol Mueller and the Secretary would be Al <br />Hull. <br /> <br />The Authority was in agreement with these recommendations. <br /> <br />MOTION/SECOND: Gunn/Hull. To Waive the Reading and Approve Resolution 12-EDA-268 <br />Electing and Appointing Officers for 2012 to the Mounds View Economic Development <br />Authority (EDA). <br /> <br /> Ayes – 5 Nays – 0 Motion carried. <br /> <br />B. Consider Demolition Assistance for 8379 Red Oak Drive. <br /> <br />Economic Development Specialist Steinmetz stated a representative for the property owner at <br />8379 Red Oak Drive contacted City Staff in November regarding demolition assistance. Staff <br />provided the rep with information on the Home Demolition Program. The City has a loan <br />program providing up to $10,000 at 3% with fixed monthly payments. <br /> <br />Economic Development Specialist Steinmetz indicated the homeowner felt this may be too much <br />at this time and wished to delay pursuing the loan.. Staff then suggested a deferred loan at 0% <br />interest which would assist the property owner with demolishing the home. She stated this <br />would be a diversion from the current loan standards. <br /> <br />Economic Development Specialist Steinmetz explained the home at 8379 Red Oak Drive was <br />built in 1938, was a one-story structure, and was currently vacant. The home was declared unfit <br />for habitants by the City. She indicated the property has a history of code violations and police <br />calls. The demolition of the structure would eliminate these concerns. Staff recommended the <br />$10,000 loan at 0% to assist the property owner with the demolition. <br /> <br />Commissioner Mueller questioned if the property was in foreclosure. Economic Development <br />Specialist Steinmetz stated Staff was not aware of any foreclosure actions. <br /> <br />Commissioner Mueller asked for the size of the lot. Economic Development Specialist <br />Steinmetz did not have the exact size of the lot but reported the value of the structure and land to <br />be $94,900 for 2012. <br /> <br />Vice President Stigney asked if the existing $10,000 loan program at 3% was deferred. <br />Economic Development Specialist Steinmetz indicated this loan program was not deferred, the