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<br />A. Statement of Purpose
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<br />City of Mounds View
<br />Housing Replacement Program
<br />(Revised June 2007)
<br />The Mounds View Economic Development Authority Housing Replacement Program
<br />("Program") is established to reduce �4�e�;ec-i;rl—e«4ie r,f blight, improve residential
<br />neighborhoods and increase the tax base.
<br />B. Pro¢ram Obiectives
<br />Replaee deteriorating �i?�ia��kr4He substand�rd housing on scattered sites throughout
<br />the City with larger, higher value housing designed for owner-occupied families.
<br />Eliminate the blighting influence of substandard housing.
<br />Increase the availability for quality housing for families.
<br />C. Program Fundin�
<br />The Program is funded through Tax Licrement Financing and administered by the Mounds
<br />View Economic Developmeiit Authority (the "EDA").
<br />D. Data PrivacV
<br />All files and information, which identifies properry and persons, is private and camiot be
<br />released. All information secured tluough the Program is subject to the Data Privacy Act.
<br />E. Program Options
<br />The Program offers two options for participation.
<br />Oprion 1- Demolition Assistance: 'fhe primarv component of the Proarxm involves
<br />providinE financial assistance ro cover the cost of demolisl�inE substandard or bli�hted
<br />propertv with an aereement that it will be replaced within a specified time frame with
<br />a new home that meets certain minimum design standards and area requirements as
<br />articulated in Attachment A, Minimum Standards and Requirements. T,�-�:o::
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<br />Option 2- Acquisition: This secondarv oation involves the purchase of a substandard
<br />sin2le-family home and land bv the CDA from a willine seller. The EDA will
<br />coordinate the site clearance activitv and market the site to a developer/owner with an
<br />aQreement that a new home would be constructed within a specified time frame that
<br />meets certain minimum desien standards and area requirements as articulated in
<br />Attachment A, Minimum Standards and Requirements. :�'•�
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