HomeMy WebLinkAboutResolution 97-EDA84
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RESOLUTION NO. 98-EDA-84
MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION APPROVING EXPENDITURE OF TAX INCREMENT FUNDS FOR APPRAISAL OF
7934 WOODLAWN DRIVE FOR CONSIDERATION OF PURCHASE BY THE EDA
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.
1.10 The Authority has the powers provided in Minnesota Statutes, Sections 469.124 to
469.134 and 469.090 to 469.108 (collectively, the "Ace).
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.
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 certain of the public costs of
development.
1.06 The Authority desires to evaluate the acquisition of 7934 Woodlawn Drive for the
redevelopment of the property as outlined in the Housing Replacement Program and it is deemed
necessary the expenditure of a maximum of $600 of tax increment funds for an appraisal of this
property to accurately negotiate a purchase price.
Section 2. Resolved.
2.01 The Board hereby determines that the Authority's authorization of Tax Increment
funds for an appraisal would be a furtherance in the objectives of the project plan an will help realize
the public purpose of the Act.
Adopted by the Board of COIllI11 issioners of the Mounds View Economic Development Authority this
9th day of February, 1998.
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Duane McCm1y, President
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ATTEST:
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Chuck Whiting, Execut ve Director