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<br />Item #: 7B <br />Meeting Date: Jan. 9, 2012 <br />Type of Business: EDA <br />Administrator Review: ____ <br />City of Mounds View Staff Report <br /> <br /> <br /> <br />To: Economic Development Authority <br />From: Heidi Steinmetz, Economic Development Specialist <br />Item Title/Subject: Consider Demolition Assistance for 8379 Red Oak Drive <br /> <br /> <br />Background <br /> <br />A representative of the property owner of two single-family homes located at 8379 and <br />8373 Red Oak Drive contacted City staff on November 9, 2011, to inquire if the City had <br />funding available to demolish the home located at 8379 Red Oak Drive. City staff and the <br />Greater Metropolitan Housing Corporation staff immediately responded by providing <br />information about the Mounds View Demolition Home Loan program. The program <br />provides loans up to $10,000 at a 3% fixed rate of interest. City staff placed a follow up <br />phone call to the property owner’s representative on November 30, 2011, to inquire of the <br />status of her potential Demolition Home Loan application. City staff was told that the <br />property owner might postpone demolition until Spring 2012, if at all. <br /> <br />The one-story, 580-square-foot home was built in 1938. The City declared the structure <br />“unfit for human occupancy” in May 2010 because the City water and sewer has been <br />disconnected. As indicated on the attachment, Ramsey County’s 2012 estimated value of <br />the structure is $2,000. Below are images of the property. <br /> <br /> 2009 Aerial Photo 2010 Front of House <br /> <br /> <br /> <br />8379 <br />8373 <br />Red <br />Oak <br />Drive