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<br /> City of Mounds View <br /> Housing Replacement Program <br /> (Revised June 2007) <br /> <br /> <br /> <br />A. Statement of Purpose <br /> <br />The Mounds View Economic Development Authority Housing Replacement Program <br />(“Program”) is established to reduce the social costs of blight, improve residential <br />neighborhoods and increase the tax base. <br /> <br />B. Program Objectives <br /> <br />• Replace deteriorating lower value substandard 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 /> <br />C. Program Funding <br /> <br />The Program is funded through Tax Increment Financing and administered by the Mounds <br />View Economic Development Authority (the “EDA”). <br /> <br />D. Data Privacy <br /> <br />All files and information, which identifies property and persons, is private and cannot be <br />released. All information secured through the Program is subject to the Data Privacy Act. <br /> <br />E. Program Options <br /> <br />The Program offers two options for participation. <br /> <br />Option 1 – Demolition Assistance: The primary component of the Program involves <br />providing financial assistance to cover the cost of demolishing substandard or blighted <br />property with an agreement 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. This option <br />involves the sale of substandard single-family homes and land to the EDA. The EDA’s goal <br />is to offer the property for sale for the redevelopment of new, standard housing. <br /> <br />Option 2 - Acquisition: This secondary option involves the purchase of a substandard <br />single-family home and land by the EDA from a willing seller. The EDA will <br />coordinate the site clearance activity and market the site to a developer/owner with an <br />agreement that a new home would be constructed within a specified time frame that <br />meets certain minimum design standards and area requirements as articulated in <br />Attachment A, Minimum Standards and Requirements. This option involves the <br />property owner retaining the property where a substandard single-family house is located, <br />and receiving funding from the EDA for demolition of the house with an agreement that it <br />