HomeMy WebLinkAboutResolution 97-EDA82
RESOLUTION NO. 98-EDA-82
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MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION GRANTING APPROVAL FOR EXPENDITURE OF TAX INCREMENT FUNDS TO
FINANCE THE CITY'S COST IN PARTICIPATION WITH A CONSORTIUM OF SUBURBAN
COMMUNITIES IN THE DEVELOPMENT OF A REMODELING PLANBOOK
It is hereby resolved by the Board of Commissioners (the "Board") of the Mounds View Economic
Development Authority (the "Authority") as follows:
Section I. Recitals.
1.10 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 approve pursuant to the Act a Project Plan for the Project.
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1.04 The redevelopment and development of property within the Project by private
developers are stated objectives of the Project Plan.
1.05 In order to achieve the objectives of the Project Plan, the Authority has determined to
provide substantial aid and assistance through the financing of cel1ain of the public costs of
development.
1.06 There has been presented to the Board an opportunity to participate with a consortium
of first tier suburban communities in the creation of a remodeling planbook. The remodeling
plan book would serve to assist and promote remodeling projects involving detached housing within
the city. The remodeling planbook will also serve to promote both the City and it's housing.
1.07 The Authority has appropriated $300,000 of tax increment funds for redevelopment
purposes associated with single family housing for 1998.
1.08 A $5,000 commitment is required for the City to participate with the consortium of
suburban communities in the development of a remodeling plan book for the City.
Section 2. Resolved.
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2.0 I That the Board of the Authority authorizes the President and Executive Director to
appropriate $5,000 in tax increment funds to finance the City's costs in participation with the
consortium of suburban communities for the development of a remodeling planbook for the City and
to approve the Letter of Understanding between Fridley Housing and Redevelopment
Authority (contract holder representing the suburban communities consortium) and the
Mounds View Economic Development Authority for the development of a remodeling
planbook.
2.02 That the Board ofthe Authority hereby grants final approval for the expenditure of
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$5,000 in tax increment funds to finance the costs in connection with the development of a
remodeling planbook for the City and to execute the Letter of Understanding between the Mounds
View EDA and the Fridley HRA.
Adopted by the Board of Commissioners of the Mounds View Economic Development Authority this
9th day of February, 1998.
~7f~
Duane McCarty, President
ATTEST:
Cfllr' - -
Chuck Whiting~ctor
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