HomeMy WebLinkAboutResolution 99-EDA119
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RESOLUTION NO. 99-EDA-119
MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY
COUNTY OF RAl\'rSEY
STATE OF MINNESOTA
RESOLUTION APPROVING AND AUTHORIZING THE EXECUTION OF THE FIRST
AMENDED A:\'D RESTATED CONSTRUCTED AND REMOV AL AGREEME~T RELATING
TO THE EXPENDITURE OF T AX INCREMENT FUNDS FOR THE DEMOLITION OF HOME
AT 8300 FAIRCHILD AVENUE AS PART OF THE EDA HOUSING REPLACEMENT
PROGRAM
It is hereby resolved by the Board ot'Commissioners (the "Board") of the Mounds View
Economic Development Authority (the "Authority") as follows:
Section I. Recitals.
1.01 The Authority has the powers provided in Minnesota Statutes, Sections
469.J24 to 469.134 and 4()9Jl90 to 469.108 (collectively, the "Act").
J.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 e~llTying out the Mounds View
Economic Development Project (the "Project") \vithin the City.
1.03 There has been approved pursuant to the Act a Project Plan for the Project.
IJl4 The Housing Replacement Program has been adopted under and as part of the
Project Plan.
1.05 The redevelopment ot'property within the Project is a stated objective of the
Project Plan and the Housing Replacement Program.
1.06 In order to achieve the objectives of the Project Plan, the Authority has
detellnined 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 with higher levels of fiscal needs. The Housing Replacement Program' s
objectives include replacing smaller, 100ver-value housing on scattered sites throughout the
City with larger, ne\v and higher-value housing designed for families, the elimination ot'
blighting influences and substandard housing, and the increase of available quality housing for
families \vithin the City.
1.08 The Authority, on April 26, 1999, authorized the expenditure of Tax Increment
funds for the demolition of the home located in the City at 8300 Fairchild Avenue (the
"Property") and entered into an agreement with the o\vner for the c Icarance of the Property for
redevelopment.
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RESOLUTIO~ #99-EDA-)J1J
P AGE TWO OF TWO
Section 2. Resolved.
2.01 The Board hereby determines that the Authority's execution of the First
Amended and Restated Construction and Removal Agreement (the '"First Amended
AgreemenCl would be in furtherance of the Project Plan amI the lIousing Replacement
Program and hereby approves and authorizcs the execution of said First Amcnded Agreement
by the officers of the Authority in their discretion and at such time, if any, as they may deem
appropri ate.
2.02 Upon execution and delivery of the Agreemcnt, and, upon issuance of a final
Certificate of Occupancy for the house, thc officers and employees of the Authority (including
members of the City Staff, acting in their capacity as staff to thc Authority as \vell) are hereby
authorized and directed to pay for the dcmolition according to the specifications as statcd in
the First Amended Agreemcnt, which is being accomplished for redevelopment purposcs.
2.03 That the Board of the Authority hereby resolves that the cxecution and
performance of the First Amcnded Agrcement for redevelopment of thc Propel1y will help
rcalizc the public purposes of the Act and are in furthcrance of the Project Plan and the
Housing Replacement Program and authorizes thc President and Executive Dircctor to
appropriate a maximum of $1 0,000 in tax increment funds to pay for the demolition of the
building on the property locatcd at 8300 Fairchild A venue.
Adopted by the Board of Commissioners of the Mounds View Economic Development
Authority this 22nd day of November, 1999.
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ATTEST:
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~~xecu(Tve Director
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