HomeMy WebLinkAboutResolution 98-EDA90
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RESOLUTION NO. 98-EDA-90
MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION GRANTING APPROVAL FOR EXPENDITURE OF TAX INCREMENT FUNDS
TO FINANCE THE PROMOTION AND IMPLEMENTATION OF A HOME IMPROVEMENT
FAIR
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 "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.
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 There has been presented to the Board an opportunity to promote and implement
a "Home Improvement Fair". The fair would work to promote home improvement and
remodeling of the city's housing by providing resources needed for homeowners to improve their
homes. The fair would be a venue for marketing the city sponsored housing programs, as well as
other housing programs and funding sources available to homeowners of the city.
1.07 The Authority has appropriated $130,000 of tax increment funds for
redevelopment purposes associated with housing for 1998.
1.08 A $2,500 commitment is needed to promote and implement a "Home
Improvement Fair" for the city.
Section 2. Resolved.
2.01 That the Board of the Authority authorizes the President and Executive Director
to appropriate $2,500 in tax increment funds to finance the city's costs to develop, promote, and
implement a "Home Improvement Fair" to encourage the improvement and redevelopment of
housing in the city.