HomeMy WebLinkAboutResolution 13-EDA-275 EDA RESOLUTION 13-EDA-275
MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION AMENDING THE MOUNDS VIEW
HOME IMPROVEMENT LOAN PROGRAM
WHEREAS, the Mounds View Economic Development Authority (EDA) has
Housing and Redevelopment Authority powers provided in Minnesota Statutes, Sections
469.001 to 469.047; and,
WHEREAS, the purposes of Sections 469.001 to 469.047 are:
(1) to provide a sufficient supply of adequate, safe, and sanitary dwellings in order to
protect the health, safety, morals, and welfare of the citizens of this state;
(2) to clear and redevelop blighted areas;
(3) to perform those duties according to comprehensive plans;
(4) to remedy the shortage of housing for low and moderate income residents, and to
redevelop blighted areas, in situations in which private enterprise would not act
without government participation or subsidies; and
(5) in cities of the first class, to provide housing for persons of all incomes; and,
WHEREAS, on November 22, 2012, the Mounds View EDA approved criteria for a
one-year pilot program called the Mounds View Home Improvement Loan Program
consisting of the following four loan types available to Mounds View residents: 1) Home
Demolition, 2) Code Enforcement, 3) General Home Repair and 4) Emergency Deferred;
and,
WHEREAS, on December 12, 2011, the EDA authorized a one-year extension of
loan program through 2012 and increased the program's loan-to-value ratio to 110%; and,
WHEREAS, on June 11, 2012,the EDA expanded the"General Home Repair"loan
criteria to include unimproved driveways as an eligible project; and,
WHEREAS, on October 8, 2012,the EDA renamed the"General Home Repair"loan
to the"General Home Improvement"loan, added bathroom and kitchen remodels to the list
of eligible improvements for the "General Home Improvement" loan and added clarifying
language to address eligible repairs and improvements for the "General Home
Improvement" loan.
Resolution 13-EDA-275
Page 2 of 2
NOW, THEREFORE BE IT RESOLVED THAT the Mounds View Economic
Development Authority does hereby authorize the following amendments to the Mounds
View Home Improvement Loan Program:
1) Decrease the Mounds View Home Improvement Loan Program budget to$100,000
2) Increase the Home Demolition Loan amount to $15,000
Adopted this 13th day of May, 2013 by the
Mounds View Economic Development Authority
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J F : •- - •ent
(ATTEST)
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James Ericson, Executive Director