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Item No: 5A <br />Meeting Date: May 8, 2000 <br />Type of Business: EDA PH <br />WK: Work Session; PH: Public Hearing; <br />CA: Consent Agenda; CB: Council Business <br /> <br />City of Mounds View Staff Report <br />To: Economic Development Authority <br />From: James Ericson, Planner <br />Item Title/Subject: Discussion Regarding a Resolution Approving and <br />Authorizing a Purchase and Redevelopment <br />Agreement by and between the Mounds View <br />Economic Development Authority and Habitat for <br />Humanity for 2225 Hillview Road. <br />Date of Report: May 4, 2000 <br /> <br />Background: <br /> <br />The EDA authorized the purchase of 2225 Hillview Road on June 28, 1999 via <br />approval of Resolution 99-EDA-114. The City took possession of the property on <br />December 14, 1999. On February 28, 2000, the EDA authorized the demolition of <br />the home, which occurred on March 24, 2000. The site has been restored and is <br />now ready for transfer to Habitat for Humanity, however before the closing can <br />occur, Minnesota statutes require the EDA to hold a public hearing regarding the <br />disposition. <br /> <br />Discussion: <br /> <br />As has been discusses and agreed upon at previous meetings of the City Council and <br />the economic Development Authority, the intent with this property has been to <br />transfer the property to Habitat for Humanity, with the City being paid $50,000 <br />through funds made available by Ramsey County CDBG grants. Both the City of <br />Mounds View and Habitat for Humanity have access to grant funds, though Habitat’s <br />grant was awarded earlier than the City’s, so the decision was made to utilize only <br />Habitat’s grant monies in this purchase and redevelopment. After this sale, the City <br />will continue have access to up to $75,000 in CDBG funds earmarked for low to <br />moderate income housing redevelopment. <br /> <br />Recommendation: <br /> <br />Hold the public hearing as advertised and approve Resolution 00-EDA129 which <br />authorizes the execution of a purchase and redevelopment agreement by and <br />between the City of Mounds View and Habitat for Humanity to complete the sale of <br />2225 Hillview Road to Habitat for Humanity for $50,000. <br /> <br /> <br />_____________________________________ <br />James Ericson, Planner