HRA RES 1984-02 - 00013923�
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A RF�Q.VIZON FSTABLISHII�G TAX I��'RFMr.rar DISTRICT NO. 5
WITHIId RF�BVffiAPMENT PRQJECT NO. 1 AI� APPROVING AND
ADOPTII� A P%�06ID TAX IAXRII� FII��fl1CII� A,Al�7 �OI2.
BE IT RFSOLVID by the Board of Cwnmissioners of the Housing and P.edevelopment
1luthority in and for the City of Fridley, P�Iinnesota (the "Authority"), as
follaas:
1. It has been proposed that the Authority esta�lish Tax Increment District
Pdo. 5(the "District") within its Redevelopment Project No. 1 and adopt a
proposed Tax Incranent Financing Plan (the "Plan") relating thereto pursuant
to @Iinnesota 5tatutes, Sections 273.71 to 273.78, inclusive. The proposed
District and Plan are attached to and made �rt of this resolution.
2. The Authority has performed all actions required by law to be performed
prior to the establishment of the District and the adoption of the Plan.
3. The Authority hereby determines that it is necessary and in the best
interest of the City at tkiis time to establish the District and approve the
Plan an�' to request that the City Council hold a public hearing relating
� thereto.
4. Sub�ect to the apprwal of the District by the City Council, the District
is hereby established by the Authority, The property included in the District
shall be the property described in the Plan.
5. �e Plan is hereby approved and adopted by the Authority, sub�ect to City
Council approval, as hereinafter provided.
6. The Authority hereby requests the City Council to call a public hearing to
consider the establishment of the District and the approval and adoption of
the Plan, to cause notice of said public hearing to be given as recuirecl by
law, and to take such other actions as may be requirec; by B4innesota Statutes,
Section 273.74, Subclivision 3. Zt�e Executive Director of the Authority is
hereby directed to suhmit a cog� of the District and Plan to the City Council
for its approval.
7. If and when approved by the City Council, the Authority shall cause the
District and Plan to be filed with the Minnesota �nergy and Economic
Develo�ent Authority.
8, Upon approval of the District and Plan by the City, the Authority shall
request the County Auditor of Anoka County ta certify the original assessec3
value of all real property within the District and Plan, and each year
hereafter to cettify the amount by which the assessed value has increased or
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Page 2-- Resolution No. 2- 1984
� decreased fran said original assessed value, to certify the proportion which
any such increase or decrease bears to the total assessed value for the real
property in the District for that year, and Eo remit to the Authority each
year all taxes �id that year on real property in the District on the c�.gtured
assessed, all pursuant to Minnesota Statutes, Section 273.76.
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PASSID AND ADOPTID BY �IE HWSII� ANi7 RFDEV�G Pt+�I��T AI7THORITY OF TFI� CITY OF
FRIDLEY THIS 127Si DAY OF JAN[JARY, 1984. � �
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