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EDA RESOLUTION 2006 - 13
RESOLUTION OF THE COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT
AUTHORITY (EDA) AUTHORIZING STAFF TO PURSUE SPECIAL LEGISLATION
THAT WOULD ESTABLISH A SUBSTANTIAL AND LONG-TERM FUNDING
SOURCE BY EXTENDING OR ESTABLISHING THE TERM OF THE A3/C7
DOWNTOWN TAX INCREMENT FINANCING DISTRICT FOR AN ADDITIONAL
TWENTY-FIVE YEARS, AND USE THE FUNDS TO PROVIDE HOME
REHABILITATION GRANTS AND LOANS, TO ACQUIRE AND DEMOLISH
BLIGHTED OR VACANT RESIDENTIAL PROPERTIES, AND REMEDIATE
CONTAMINATED PROPERTY.
WHEREAS, Residential property that is in good repair helps to sustain a strong
and stable tax base allowing a City to fund basic services at a reasonable cost to its
citizens; and
WHEREAS, Columbia Heights has a significant number of older and lower value
homes that suffer from or are at risk of deferred maintenance; and
WHEREAS, A significant percentage of Columbia Heights households have
difficulty paying to cure the deferred maintenance; and
WHEREAS, Federal and State resources for rehabilitation and acquisition of
blighted property would not provide a substantial or long-term source of funding; and
WHEREAS, There exists a 4-acre contaminated site in the central business
district that the City desires to redevelopment but can not due to the cost of remediation;
NOW, THEREFORE BE IT RESOLVED by the Board of Commissioners of the
Columbia Heights Economic Development Authority as follows:
1. Staff is authorized to pursue special legislation that would provide funding
for home rehabilitation loans and grants, acquisition and demolition blighted or vacant
residential structures, and contamination remediation, including without limitation
legislation to spend tax increment generated from parcels now located in TIF District
Nos. A7 and C3, either through extension of those districts or through establishment of
one or more new tax increment financing districts with special rules.
2. Staff is authorized to use the services of government relations consultants,
EDA legal counsel and EDA financial advisors, and any other services reasonably
necessary to secure favorable action by the legislature.
Passed this c20 dayof.7) e C <2-Mb fl;r , 2006.
Offered by:
Seconded by:
Roll Call:
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Walter R. Fehst, Ex~cutive Director