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Mounds View EDA May 14, 2001 <br />Regular Meeting Page 4 <br /> <br />there is some bad siding that should be replaced making the house blighted in comparison to <br />other houses in the area. <br /> <br />Vice President Stigney asked whether the City would need to incur expenses to fix the property <br />in order to rent it out. <br /> <br />Economic Development Coordinator Parrish indicated there are some things that would need to <br />be brought up to Code but stated those were nominal and should not amount to more than one <br />month’s rent. He then indicated that the property is part of an estate and some improvements, <br />including replacing the roof, have been made in an effort to improve the property. <br /> <br />Vice President Stigney stated he did not feel the City needed to purchase the property and then <br />asked if the property would stay in a TIF district. <br /> <br />Economic Development Coordinator Parrish indicated that TIF funds would be utilized for the <br />purchase of the property but said the property is not within a TIF district. <br /> <br />Vice President Stigney stated he had reservations concerning using TIF funds to purchase the <br />property. <br /> <br />Commissioner Quick stated he felt this property is a very intriguing piece of property as it is so <br />large and the City owns other property in the area increasing the potential for redevelopment. <br /> <br />MOTION/SECOND: Quick/Sonterre. To Waive the Reading and Approve Resolution 01-EDA- <br />148, a Resolution Approving and Authorizing the Expenditure of Tax Increment Funds for the <br />Acquisition of 3016 County Road H2 for the Purpose of Future Redevelopment. <br /> <br />Commissioner Marty stated he had reservations but thinks with the amount of land involved and <br />due to the fact that the City already controls several properties in that area that this would be a <br />good acquisition for the City. <br /> <br />Commissioner Thomas stated she agreed with Commissioner Marty that she had reservations but <br />thinks when considering the price of the property, the size of the property, and knowing the City <br />does not have nearly enough property to build on she is fine with the acquisition. <br /> <br />Ayes – 4 Nays – 1(Stigney) Motion carried. <br /> <br />Commissioner Quick requested that the house be discussed at the next work session. <br />