HRA RES 1984-03 - 00013925�
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RE9�,iT1ZdN N0. HRA 3— 1984
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IT IS HEREBY RFSOLVID by the Board of Commissioners (the "EOard") of the
Housing and Redevelopment Authority in and for the City of Fridley,
Minnesota (the "Authority"), as follaas:
1. Recitals.
A. The Authority has all the powers of a housing and redevelopment
authority under the ilunici�xl Housing and Redevelopment Act, Pflinnesota
Statutes, Sectians 462.411 to 461.716, inclusive, as amended (the
"Act").
B. In furtherance of the ob�ectives of the Act, the Authority has
undertaken a program to acquire, or otherwise �romote development of,
open or undeveloped land and in this connection is engaged in carrying
out the redevelopment pro�ect known as the Authority's Redevelopment
Project No. 1(the "Redevelopment Pro�ect") in an area (the "Project
Area") located in the City.
C. There has been prepared and approvecl by the Authority and the City
Council of the City, pursuant to the Act, a t2odified Redevelopment Plan
for the Redevelopment Project (the "Redevelotanent Plan").
D. The acquisition and the subsequent sale or lease of the potential
development property to private developers for commercial development
are stated ob�ectives of the Redeveloixnent Plan.
E. In order to achieve the objectives of the P.edevelopment Plan and
particularly to make the land in the Pro�ect Area available for
development by private enterprise in conformance with the Redevelopnent
Plan, the Authority has determined to provide substantial aid and
assistance in connection with the Redevelopment Plan through the
financing of certain of the public costs of development in the Pro�ect
Area.
F. Geraldi�. Paschke has presented the Authority with a Proposal for
the construction within the Pro�ect Area of a commercial f-acility, and a
certain Contract for Private Development between the Authority and
Gerald bV, Paschke (the "Development Contract"), stating the terms and
conditions of such development and the Authority's responsibilities
respecting the assistance thereof, has been �resented to the Board for
its consideration.
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Page 2--Resolution No. EII2A 3-1984
G. The Development Contract provides for the purchase and reconveyance
by the Authority of the property on which the Gerald 4�. Paschke �roject
is proposed to be constructed, and in compliance with Nlinnesota
Statutes, Section 462.525, Subdivzsion 2, following published notice
thereof.
2. The Board hereby approves the Contract for Private Development
substantially in the form attached hereto as Exhibit A, and hereby
authorizes the Chaixman and Executive Director to execute the same on behalf
of the Authority, with such additions and modifications as those officers
may dePm necessary.
3. Upon execution and delivery of the Contract for Priv�te Develo�anent, the
officers and employees of the Authority are hereby authorized and directed
to take or cause to be taken such actions as may be necessary on behalf of
the AutYiority to implenent such Agreanent.
PFISSID AND ADOPTID BY THE HO[TSING AND R�ELOPI7ENT THORj.�'''P OF ^1HE CITY OF
FRIDLEY Tf3IS 12th DAY OF Janua�, 1984. �' i� �' J � �
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EXEQITIVE DIRECibR
3/0/24/25
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HOUSIIV�G AND RIDLVELOPMENT FIUTHORITY