HomeMy WebLinkAbout97-10 - ADMIN Resolution - Economic Development Authority - 1997/09/02RESOLUTION NO. EDA - 97-10
RESOLUTION AUTHORIZING THE ASSIGNMENT OF EDA DEVELOPMENT FUND
PROCEEDS FOR THE REMEDIATION OF SOILS UPON
DESIGNATED LOTS WITHIN THE ELMWOOD NEIGHBORHOOD
AND
AUTHORIZING THE USE OF TAX INCREMENT FUNDS FOR THE
PAVING OF ALLEYS WITHIN THE ELMWOOD NEIGHBORHOOD
WHEREAS, the St. Louis Park Economic Development Authority (EDA) desires to
assign proceeds from the EDA Development Fund to pay the cost of soil remediation of
designated residential lots within the Elmwood Neighborhood; and
WHEREAS, the St. Louis Park EDA desires to allocate Tax Increment Funds from the
Highway 7 Tax Increment Financing District for the paving of designated alleys within the
Elmwood Neighborhood; and
WHEREAS, the St. Louis Park EDA desires to have the City of St. Louis Park undertake
the construction of the alley improvements within the Elmwood Neighborhood.
NOW THEREFORE BE IT RESOLVED, that the St. Louis Park Economic Development
Authority formally authorizes staff to administer and disperse funds for the soil remediation of
designated residential lots and alley paving within the Elmwood Neighborhood; and
BE IT FURTHER RESOLVED, that the St. Louis Park EDA requests the City of St.
Louis Park to undertake the construction of the alley improvements within the Elmwood
Neighborhood.
Adopted by the St. Louis Park Economic Development Authority
September 2, 1997
Its President
ATTEST:
is Executive Dime. o
9487:GEN73