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<br /> <br /> RESOLUTION NO. 01-EDA-150 <br /> <br />MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION APPROVING AND AUTHORIZING THE EXPENDITURE OF TAX <br />INCREMENT FUNDS FOR THE ACQUISITION OF THE HAZARDOUS BUILDING AT <br />2091 HILLVIEW ROAD FOR THE PURPOSE OF REDEVELOPMENT <br /> <br /> <br />It is hereby resolved by the Board of Commissioners (the ΑBoard≅) of the Mounds View Economic <br />Development Authority (the ΑAuthority≅) as follows: <br /> <br />Section 1. Recitals. <br /> <br />1.10 The Authority has the powers provided in Minnesota Statutes, Sections 469.124 to 469.134 <br />and 469.090 to 469.108 (collectively, the ΑAct≅). <br /> <br />1.02 Pursuant to and in furtherance of the objectives of the Act, the Authority has undertaken a <br />program to promote development and redevelopment of certain land within the City of Mounds View and in <br />this connection is engaged in carrying out the Mounds View Economic Development Project (the <br />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 redevelopment of property within the Project is a stated objective of the Project Plan. <br /> <br />1.05 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 />1.06 It has been proposed that the Authority acquire the property located in the City at 2091 <br />Hillview Road (the ΑProperty≅) and that the Authority approve the purchase agreement and/or similar <br />agreement(s) (collectively, the ΑAgreement≅) attached as “Appendix A” for the acquisition of the Property <br />for the purposes of redevelopment. <br /> <br />Section 2. Resolved. <br /> <br />2.01 The Board hereby determines that the Authority’s execution of the Agreement and the <br />subsequent acquisition and redevelopment of the Property would be in furtherance of the Project Plan and <br />hereby approves and authorizes said actions, including the execution of the Agreement by the officers of the <br />Authority in their discretion and at such time, if any, as they may deem appropriate. <br />