HomeMy WebLinkAboutEDA Resolution 07-EDA-230EDA RESOLUTION 07-EDA-230
MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY
COUNTY OF RAMSEY
ST ATE OF MINNESOTA
RESOLUTION APPROVING AND AUTHORIZING THE EXPENDITURE OF TAX
INCREMENT FUNDS FOR THE DEMOLITION OF THE HOME AT 2617 SHERWOOD
ROAD AS PART OF THE EDA HOUSING REPLACEMENT PROGRAM
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 Housing Replacement Program has been adopted under and as part of
the Project Plan.
1.05 The redevelopment of 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
determined 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, lower-value housing on scattered sites
throughout the City with larger, new and higher-value housing designed for families, the
elimination of blighting influences and substandard housing, and the increase of available
quality housing for families within the City.
1.08 It has been proposed that the Authority provide funding for the demolition of
the home located in the City at 2617 Sherwood Road (the "Property")and that the Authority
enter into an agreement (the "Agreement") with the owners for the clearance of the
property for redevelopment.
EDA Resolution 07-EDA-230
Page 2
1.09 The Property has been inspected by City staff and has been determined to
qualify for funding through the Housing Replacement Program
Section 2. Resolved.
2.01 The Board hereby determines that the Authority's %xecution of the Agreement
and the subsequent clearance of the Property would be in furtherance of the Project Plan
and the Housing Replacement Program and hereby approves and authorizes said actions,
including the execution of the Agreement by the officers of the Authority in their discretion
and at such time, if any, as they may deem appropriate.
2.02 Upon execution and delivery of the Agreement, the officers and employees of
the Authority (including members of the City Staff, acting in their capacity as staff to the
Authority as well) are hereby authorized and directed to take or cause to be taken such
actions as may be appropriate or necessary on behalf of the Authority to implement the
Agreement, including the demolition of the Property's building, which is being accomplished
for redevelopment purposes.
2.03 That the Board of the Authority hereby determines that the execution and
performance of the Agreement for redevelopment of the Property will help realize the public
purposes of the Act and are in furtherance of the Project Plan and the Housing
Replacement Program and authorizes the President and Executive Director to appropriate
a maximum of $8,000 in tax increment funds to arrange for the demolition of the building on
the property located at 2617 Sherwood Road.
Adopted by the Board of Commissioners of the Mounds View Economic Development
Authority this 12th day of March, 2007.
~~,
R Marty, President
ATTEST:
Kurt Ulrich
Executive Director