EDA Resolution 07-EDA-230 - Laserfiche WebLink

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EDA RESOLUTION 07-EDA-230 MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY COUNTY OF RAMSEY ST ATE OF MINNESOTA RESOLUTION APPROVING AND AUTHORIZING THE EXPENDITURE OF TAX INCREMENT FUNDS FOR THE DEMOLITION OF THE HOME AT 2617 SHERWOOD ROAD AS PART OF THE EDA HOUSING REPLACEMENT PROGRAM It is hereby resolved by the Board of Commissioners (the "Board") of the Mounds View Economic Development Authority (the "Authority") as follows: Section 1. Recitals. 1.01 The Authority has the powers provided in Minnesota Statutes, Sections 469.124 to 469.134 and 469.090 to 469.108 (collectively, the "Act"). 1.02 Pursuant to and in furtherance of the objectives of the Act, the Authority has undertaken a program to promote development and redevelopment of certain land within the City of Mounds View and in this connection is engaged in carrying out the Mounds View Economic Development Project (the "Project") within the City. 1.03 There has been approved pursuant to the Act a Project Plan for the Project. 1.04 The Housing Replacement Program has been adopted under and as part of the Project Plan. 1.05 The redevelopment of property within the Project is a stated objective of the Project Plan and the Housing Replacement Program. 1.06 In order to achieve the objectives of the Project Plan, the Authority has determined to provide substantial aid and assistance through the financing of certain public costs of Development. 1.07 The stated purposes of the Housing Replacement Program include reducing the social costs of blight, making better use of public infrastructure, and redistributing tax base to communities with higher levels of fiscal needs. The Housing Replacement Program's objectives include replacing smaller, lower-value housing on scattered sites throughout the City with larger, new and higher-value housing designed for families, the elimination of blighting influences and substandard housing, and the increase of available quality housing for families within the City. 1.08 It has been proposed that the Authority provide funding for the demolition of the home located in the City at 2617 Sherwood Road (the "Property")and that the Authority enter into an agreement (the "Agreement") with the owners for the clearance of the property for redevelopment.