HomeMy WebLinkAboutResolution 02-EDA161
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RESOLUTION NO. 02-EDA-161
MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION APPROVING AND AUTHORIZING THE EXPENDITURE OF TAX
INCREMENT FUNDS FOR THE INSTALLATION OF TRAILWAY LIGHTING
IMPROVEMENTS WITHIN THE HIGHWAY 10 CORRIDOR
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 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 install trailway and streetlight improvements within the
Highway 10 corridor to enhance and improve appearances and promote
improved pedestrian safety.
1.07 Consistent with the objectives of the Project Plan, the Authority
approved Resolution 00-EDA-136 on October 10, 2000 which authorized the
expenditure of $82,500 in tax increment funds to install trailway and streetlight
improvements within the Highway 10 corridor.
Resolution 02-EDA-161
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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
reaffirms said action as approved in Resolution 00-EDA-136.
2.02 The Board of the Authority hereby authorizes a maximum payment of
$30,000 to install trailway lighting improvements from County Road H to Woodale
Drive on the south side of the County Highway 10 corridor for safety, aesthetic and
redevelopment purposes.
2.03 The $30,000 payment shall be paid from the unexpended funds
originally authorized by the Authority in Resolution 00-EDA-136.
Adopted by the Board of Commissioners of the Mounds View Economic Development
Authority this 25th day of February, 2002.
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Richard .Sonterre, President
.A. TTEST:
(SEAL)
Motion: Marty
Second:
Sonterre:
Stigney:
Quick:
Marty:
Thomas:
Stiqney
Aye
Aye
Aye
Aye
Aye
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