HomeMy WebLinkAboutResolution 00-EDA139
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RESOLUTION # OO-EDA-139
MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION AUTHORIZING THE EXPENDITURE OF TIF FUNDS TO
PURCHASE THE SHERIFF'S CERTIFICATE FOR 2345 COUNTY ROAD H2.
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 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 It has been proposed that the Authority approve and authorize the
expenditure of funds to acquire the Sheriff's Certificate for 2345 County Road H2
for purposes of future redevelopment.
Section 2. Resolved.
2.01 The Board hereby determines that the Authority's expenditure of
tax increment funds would be in furtherance of the Project Plan and hereby
approves and authorizes said action.
2.02 That the Board of the Authority hereby determines that the
expenditure of funds will help realize the public purposes of the Act and are in
furtherance of the Project Plan and authorizes the President and Executive Director
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to utilize a maximum of $71 ,400 in tax increment funds to purchase the Sheriff's
Certificate allowing for the possible redevelopment of the property.
Adopted by the Board of Commissioners of the Mounds View Economic Development
Authority this 11th day of December, 2000.
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