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Mounds View EDA July 12, 2010 Regular Meeting Page 3 housing stock in this neighborhood is not unlike many neighborhoods in the City. The success of 85 any community includes, but is not limited to, a well-maintained housing stock. Staff 86 recommends that the EDA adopt the Resolution authorizing the expenditures of TIF funds for the 87 appraisal of 7968 Edgewood Drive. 88 89 President Flaherty questioned if the property was reviewed by the EDC. Economic Development 90 Specialist Steinmetz stated the EDA was reviewing the proposal first. 91 92 President Flaherty asked if the applicant had contacted a real estate agent. Mr. Nollet stated he 93 was in contact with a real estate agent, but the agent was dismissive of the site. He felt the 94 neighboring properties deserved the site to be nicely redeveloped. 95 96 Commissioner Mueller questioned if the home was habitable. Mr. Nollet stated he invested 97 funds into the home to bring into compliance but felt it was not habitable at this time. 98 99 Commissioner Hull asked if the TIF funds could be used for anything else. Economic 100 Development Specialist Steinmetz explained the 2010 budget had $150,000 for the housing 101 replacement program. She recommended the EDA purchase this property, as it was a viable 102 property that met the criteria of the housing replacement program. 103 104 Commissioner Mueller questioned the expense of an appraisal. Economic Development 105 Specialist Steinmetz estimated this expense to be $400-500. 106 107 President Flaherty felt the EDC should have reviewed this information before being brought to 108 the EDA. He explained the applicant had other options, such as the realtors association and the 109 Housing Resource Center. Economic Development Specialist Steinmetz stated Mr. Nollet did 110 contact the Housing Resource Center and was referred to the City of Mounds View. 111 112 Commissioner Mueller stated the housing stock along Woodlawn was from the 1940’s. She 113 questioned if the City provided funding to update the homes in that area. Executive Director 114 Ericson stated he was not aware of any funds used along Woodlawn, but they were used along 115 Spring Lake Road and Pleasant View Drive. He explained the property on Edgewood was a 116 telling story and redevelopment of the site spurred investment in the neighborhood. 117 118 Commissioner Gunn expressed concern with code enforcement issues as homes continued to 119 deteriorate in this area and stated she was in favor of acquiring the property. 120 121 Commissioner Hull agreed the EDA should proceed with the acquisition of this property to 122 eliminate the further deterioration of the neighborhood. 123 124 Vice President Stigney questioned if it would be more prudent to demolish rather than acquire 125 the property. He indicated that more properties could be assisted if 7968 Edgewood were 126