HomeMy WebLinkAboutResolution 00-EDA131
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RESOLUTION NO. OO-EDA-131
MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION AUTHORIZING THE EXPENDITURE OF TAX INCREMENT FUNDS FOR
PROFESSIONAL SERVICES AND DESIGNATING EDA FINANCIAL ADVISOR
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.
1.01 The Authority has the powers provided Minnesota Statutes, Sections 469.001
through 469.047, 469.090 through 469.108, 469.124 through 469.134, and 469.174 through
469.179 (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 approved pursuant to the Act a Project Plan for the Project.
1.04 The redevelopment of property within the Project is a stated objective 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 public
costs of Development.
1.06 Retaining Ehlers & Associates to evaluate the budgets of existing TIF districts
will ensure the efficient and effective administration of Mounds View's TIF districts.
1.07 Designating Ehlers & Associates as public financial advisor to the EDA will
ensure continuity necessary to effectively administer Mounds View's TIF districts.
Section 2. Resolved.
2.01 That the Board hereby determines that the Authority's expenditure to evaluate
existing TIF budgets would be in furtherance of the Project Plan and hereby approves and
authorizes said action
2.02 That the Board of the Authority hereby authorizes the President and Executive
Director to retain Ehlers & Associates, appropriating a maximum of $10,000 in tax increment
funds.
2.03 That the Board of the Authority hereby authorizes staff to prepare a letter of
understanding designating Ehlers & Associates as public finance advisor to the EDA.
N :.DAT'\ 'Ci ROU PSTCON [) EV I :[)A \Resolutiolls' Res OlfResOI.l-131 ,doe
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Adopted by the Board of Commissioners of the Mounds View Economic Development
Authority this 24th day of July, 2000.
ATTEST:
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