HomeMy WebLinkAboutResolution 98-EDA93RESOLUTION NO. 98-:EDA-93
• MOUNDS VIEW F,CONOMIC DEVELOPMENT AUTHORITY
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION APPROVING AND AUTHORIZING THE EXPENDITURE OF TAX INCREMENT FUNDS
FOR THE ACQUISITION OF 6991 PLEASANT VIEW DRIVE AS PART OF THE EDA'S HOUSING
REPLACEMENT PROGRAM
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 tl~e City of
Mounds View and in this connection is engaged in carrying out the Mounds View Economic
Development Project (tl~e "Project") within the City.
1.03 Tliere has been approve pursuant to the Act a Project Plau for the Project.
1.04 The Housing .Replacement Program has been adopted under and as part of the Project
Plan.
• 1.05 The redevelopment of property within the Project is a stated objective of the Project
Plan and the Housing Replacement Program.
1.06 Iii order to achieve the objectives of the Project Plan, the Authority has determined to
provide substantial aid and assistance through the financing of certain public costs of development.
1.07 The stated purposes of the Housing Replacement Program include reducing the social
costs of blight, making better use of public infrastructure, and redistributing tax base to communities
~vitl~ higher levels of fiscal needs. The Housing Replacement Program's objectives include replacing
smaller, lower-value housing on scattered sites throughout the City with larger, new and higher-value
housing designed for families, the elimiiiatio~i of blighting influences and substandard housing, and
the increase of available quality Dousing for families within the City.
1.08 It has been proposed that the Authority acquire the property located In the City at
6991 Pleasant View Drive (the ``Property") and that the Authority enter into a purchase agreement
and/or similar agreement (s) (collectively, tl~e "Agreement") for that acquisition and/or subsequent
clearance of the property for redevelopment.
Section 2. Resolved.
2.01 The Board hereby determines that tl~e Authority's execution of the Agreement and the
subsequent acquisition and/or clearance of the Property would be in furtherance of the Project Plan
and the Housing Replacement Program and hereby approves and authorizes said actions, including the
execution of the Agreement by the officers of the Authority in their discretion and at such time, if any,
as they may deem appropriate.
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RESULIJ'I'IUN 1\(7.98-b:DA-93
PAGfs TR'U Uf 'I'1V()
• 2A2 l lpnn caeculiuu and deli~•crv of the Aprctimcnl, the o1Ti~xt~ and cmpluyars ofthe
Autltotily ('including mcmhen of Iltc C'ily Stnff. acting in their capacity as 5[x11' Iu the Authurily as
t~rll) arc hereby authori~.ed and dir>_eted lu lake nr cause to hr taken such actions u., mey bc:
nppropriate or nccu~sxry utt behalf of tltc Authority Io implement Ilse Agnrctncnt, including the
acquisitiun of the I'mpcrly, which is bring accomplished for redcvclopmcnl purpoxs.
3.03 'that the >icmnl of the Authority hcrclrv ddcrmincs that the ezix;wion and prrfurm:mcr
of thu Agreement and aquisitinn cif the l'ruperty ~~•ill help realize the puhlic purposas ~~I' lhr Act xnd
arc in fitrthcrancc uFlhc 1'rujret flan and the Ilnusing Replacement Program and authorizes the
Prcsidem and lixccutit•c Dirtxtur to appropriate #Gll_500 in tax increment funds to pnrchnsc the
pmpcny located al 6991 Pleasant Vices llri~c.
Adapted by the 1loard of Commi~siuttrrr• of the M~mnds V irw fcunomic Ikh•clopmcnt Authority this
33th doy of Jttnc, 1998.
~~, r 1Cuupmciaets. ng President
A'1"1'L+S'I':
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C'hucg-l:.xcc iveDirrctor
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