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EDA Resolution 19 -EDA -326 <br />Page 2 <br />2. After the date of approval of this resolution, the building on the Parcel may be demolished <br />or removed by the EDA or the City, or such demolition or removal may be financed by the EDA, or may <br />be undertaken by a developer under a development agreement with the EDA. <br />3. The EDA intends to include the Parcel in a redevelopment TIF District, and to file the <br />request for certification of such district with the Ramsey County auditor within 3 years after the date of <br />demolition of the building on the Parcels. <br />4. Upon filing the request for certification of a new tax increment financing district, the EDA <br />will notify the Ramsey County auditor that the original tax capacity of the Parcel must be adjusted to reflect <br />the greater of (a) the current net tax capacity of the parcel, or (b) the estimated market value of the Parcel <br />for the year in which the building was demolished or removed, but applying class rates for the current year, <br />all in accordance with Minnesota Statutes, Section 469.174, Subd. 10(d). <br />5. EDA staff and consultants are authorized to take any actions necessary to carry out the <br />intent of this resolution. <br />Adopted by the Board of Commissioners of the Mounds View Economic Development Authority this 81 <br />day of July, 2019. <br />e &W41W� <br />Carol A. Mueller, President <br />ATTEST: <br />Nyl lka u xecutive Director <br />(Sea!). <br />587440v3MU205-49 <br />