HomeMy WebLinkAboutResolution 95-EDA33
RESOLUTION NO. 95-EDA-33
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CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION APPROVING EXPENDITURE OF TAX INCREMENT FUNDS FOR APPRAISAL
OF V ACANT LAND ON HIGHWAY 10
It is hereby resolved by the Board of Commissioners ( the "Board") of the Mounds View Economic
Development Authority (the "Authority") as follows:
1. Recitals.
(a) The Authority has the powers provided in Minnesota Statutes, Sections 469.124 to
469.134 and 469.090 to 469.108 (collectively, the "Act").
(b) 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 connection is engaged in carrying out the Mounds View Economic
Development Project (the "Project") within the City.
(c) There has been approval pursuant to the Act a Project Plan for the Project.
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(d) The redevelopment and development of property within the Project by private
developers are stated objectives of the Project Plan.
(e) 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 of the public costs of
development.
(f) The Authority desires to evaluate the acquisition of approximately 1.3 acres of
vacant land on Highway 10 and it has deemed necessary' the expenditure of a maximum of $500 of
tax increment funds for an appraisal of this property to accurately negotiate a purchase.
2. The Board hereby determines that the Authority's authorization of Tax Increment Funds for
an appraisal would be in furtherance of the objectives of the Project Plan and will help realize the public
purposes of the Act.
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Adopted by the Board of Commissioners of the Mounds View Economic Development Authority on
October 9, 1995
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