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<br />Section 1. Recitals. <br /> <br />1.01 The Authority has the powers provided in Minnesota Statutes, Sections <br />469.124 to 469.134 and 469.090 to 469.108 (collectively, the ΑAct≅). <br /> 1.02 Pursuant to and in furtherance of the objectives of the Act, the Authority <br />has undertaken a program to promote development and redevelopment of certain land <br />within the City of Mounds View and in this connection is engaged in carrying out the <br />Mounds View Economic Development Project (the ΑProject≅) within the City. <br /> <br />1.03 There has been approved pursuant to the Act a Project Plan for the Project. <br /> <br />1.04 The Housing Replacement Program has been adopted under and as part of the <br />Project Plan. <br /> <br />1.05 The redevelopment of property within the Project is a stated objective of <br />the Project Plan and the Housing Replacement Program. <br /> <br />1.06 In order to achieve the objectives of the Project Plan, the Authority has <br />determined to provide substantial aid and assistance through the financing of certain <br />public costs of Development. <br /> <br />1.07 The stated purposes of the Housing Replacement Program include <br />reducing the social costs of blight, making better use of public infrastructure, and <br />redistributing tax base to communities with higher levels of fiscal needs. The Housing <br />Replacement Program’s objectives include replacing smaller, lower-value housing on <br />scattered sites throughout the City with larger, new and higher-value housing designed <br />for families, the elimination of blighting influences and substandard housing, and the <br />increase of available quality housing for families within the City. <br /> <br />1.08 On June 28, 1999, the Authority approved for participation in the Program <br />and authorized purchase of the home located at 2225 Hillview Road (the ΑProperty≅). <br /> <br />1.09 In order to prepare the lot for redevelopment, it is necessary that the <br />Authority provide funding for the demolition of the Property. <br /> <br />1.10 In response to Requests for Proposals mailed to area contractors on <br />February 9, 2000, Staff has received five bids to accomplish the demolition of the <br />Property. <br /> <br />Section 2. Resolved. <br /> <br />2.01 That the Board hereby determines that the Authority’s expenditure to <br />effectuate demolition of the Property would be in furtherance of the Project Plan and the <br />Housing Replacement Program and hereby approves and authorizes said action <br /> <br />2.02 That the Board of the Authority hereby authorizes the President and <br />Executive Director to award the contract to demolish Property to low bidder Kevitt <br />Excavation, Inc., appropriating a maximum of $7,590 in tax increment funds. <br /> <br /> <br />Adopted by the Board of Commissioners of the Mounds View Economic Development <br />Authority this 28th day of February, 2000.