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9 DEVELOPMENT DISTRI_'- °f.AN <br />A. Statement of Public Purpose <br />it is found that there is a need for new development in the City of :Hounds <br />View, Minnesota, to encourage development both within and without areas <br />which are already built up to provide employment opportunities to improve <br />the local tax base and to improve the general tax base of the state. <br />B. Statutory Authority <br />The City of Mounds View proposes to designate a portion of the city (see <br />map on page 2) as a 'ecn:eipai develupment district N1 as authorized by <br />Minnesot�atutes, Chanter 472A. This area would include the triangular <br />aped area along Highway 10 shown on the map on page 2. According to <br />sh <br />Minnesota Statutes, Section 472A.02, Subdivision 11, a development district <br />is a specific area within the corporate limits of a municipality which has <br />been so designated and separately numbered by the governing body. <br />The City of Mounds View also plans to eventually utilize the development <br />finance provisions encompassed in Minnesota Statutes, Section 273.71-78, <br />the Mir^^sots Tax increment Financing Act, in conjunction with the <br />designation of the municipal development district. <br />C. Property Description <br />QThe area to be encompassed by the prcposed Municipal Development <br />District Is generally described as follows: <br />Beginning at the point of intersection of the centerline of Groveland <br />Road, as extended, and the southwester!y right-of-way line of Trunk <br />Highway 10, City of Mounds View, Minnesota; thence southeasterly <br />from said point and along said southwesterly right-of-way Ime of <br />Trunk Highway 10 to a point of intersection with the center line of <br />County Road 1, aE extended; thence westerly, more or less, from said <br />point and along said center line to a point of intersection with the <br />centerline of Groveland Road; thence northerly from said point and <br />along aN1Y @r,ito, uuc w ..... .......... _ _� <br />D. Rehabilitation <br />There are no existing structures in the municipal de:elopment district tL _ e <br />rehabilitated, therefore no rehabilitation program is required. <br />E. Relocation <br />No persons are anticipated to be displaced ao a result of development at this <br />time. However, in the event of any relocation of individuals or businesses, <br />the City will comply with the Minnesota Uniform Relocation Act <br />(M.U.R.A.), Minnesota Statutes, Section 117.50-56. <br />