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RESOLUTION 18-EDA-310 <br /> <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION CONSENTING TO THE PROCESS FOR THE CREATION OF A HOUSING <br />TAX INCREMENT FINANCING DISTRICT IN SUPPORT OF THE PROPOSED TRITON <br />MULTIPLE FAMILY HOUSING PROJECT <br /> <br />WHEREAS, the City of Mounds View Economic Development Authority (the “EDA”) is <br />a municipal corporation and political subdivision duly organized and existing under the <br />Constitution and laws of the State of Minnesota; and, <br /> <br />WHEREAS, Pursuant to Minnesota Statutes §469.174 – §469.1799, the City of Mounds <br />View is authorized to use Tax Increment Financing (“TIF”) to carry out the public purposes <br />described and contemplated thereby; and, <br /> <br />WHEREAS, Newport Midwest, LLC, in partnership with non-profit Journey Home <br />Minnesota, has submitted a proposal (“The Triton”) to construct sixty one units of multiple-family <br />rental housing (the “Project”) at or near Old Hwy 8 and Mustang Drive, with 100% of the units <br />being affordable to households with incomes at or below 50% of the area median income; and, <br /> <br />WHEREAS, Newport Midwest, LLC has submitted plans and applications for approval by <br />the City of Mounds View for an amendment to the Zoning Map and a Conditional Use Permit for <br />a Multiple Family Dwelling for the Project; and, <br /> <br />WHEREAS, the EDA supports the Project and will endeavor to work with Newport <br />Midwest, LLC to facilitate (TIF) assistance through the creation of a Housing TIF District with <br />such actions being subject to Newport Midwest, LLC securing an allocation of Housing Tax <br />Credits from the Minnesota Housing Finance Agency for the Project; and, <br /> <br />WHEREAS, the EDA cannot create a Housing TIF District in support of the Project until <br />all statutory requirements have been fully satisfied, including the consideration of comments from <br />the public and affected governmental jurisdictions following a public hearing. <br /> <br />NOW, THEREFORE, BE IT RESOLVED, by the City of Mounds View Economic <br />Development Authority, that the recitals and exhibits, if any, set forth in this Resolution are <br />incorporated into and made a part of this Resolution <br /> <br />