HRA RES 1984-19 - 00013943�
RESOLUTION N0. HRA 19 - 1984
A RFSC�UTION NDDIFYING �IE TAX INCREMENT FINANCING PLAN
FOR TAX INCREMENT DISTRICP NO. 3(NORTH AREA) WITHIN
R�n�t�.r.OPNNJENNT PRQ7ECT N0. 1'IU INCLUDE INFORMATION ABWT
INCREASID P'RQTECT ACPNITIES AS REQUIRED BY MINN. STAT.
SECTION 273.74, SUBDIVISION 1; AND APPROVING AND
AUTHORIZING THE EXEQJTION OF A CONTRACT FOR PRIVATE
DEUELOPMEN`P WITH GIIti1LD W. PAS(2iKE
BE 1T RFS�VED by the Board of Commissioners (the "Boarc�") of the Housiny and
Redevelo�xnent Authority in and for the City of Fric:ley, Minnesota (the
"AUthority"), as follaase
SECI'ION 1. Recitals
1.01 The Authority has a11 the powers of a housiny anc, reGevelo�ment
authority uncler the Municipal Housing and Reaevelo�ment Act, Minnesota
Statutes, Sections 462.411 to 461.716, inclusive, as amer�dEd (the "Act").
1.D2 In furtherance of the ob�ectives of the Act, the Authority has
unciertaken a program to aaruire, or otherwise promote develognent of, open or
undevelo�.ed land in and in this connection is engagec� in carrying out the
' redevelopnent pro�ect knaan as the Authority's Redevelo�ment Pro�ect IVo. 1
(the "Redevelopnent Authority") in an area (the "Pro�ec�t Area") located in the
City.
1.03 �riere has been pre�ared and approved by the Auth�rity and the City
Council of the City, pursuant to the Act, a Niodified Redevelopnent Plai� fer
the Redevelognent Fro�ect (the ""Redevelognent Plara").
1.04 It has been proposed that the Authority modify the Tax Iricrement
Financing Plan for 'Pax Increnent District No. 3 located within the Pre�ect
Arca pursuant to and in accordance with Minnesota Statutes, Section 273.71 to
273.86, inclusive, as amPnded, to include information about increased pro�ect
activities to occur within the Pro�ect Area as requiren by Puru�esota Statutes,
Section 273.74, Subdivision 1.
1.05 Zhe list of cievelognent activities within the P4odified Tax Increnient
Financing Plan for Tax Incra:ient District No. 3 kroposes to take place in the
reasor�bly foreseeable future shall he includeci in Subsection 4.15 oE tYie Tax
Increnent Financing Plan as attached hereto as Exhibit A. This list shall
include the contracts entered into, incluchny the r�ames of the p�rties to the
contract, the activity governed by the contract, the cost stated in the
contract and the expected date of comp]etion of that �ctivity as well as any
other specific develo�xnent reasonably expected to take place within the
pro7ect and the date when the develognent is likely to occur.
' 1.06 The acquisition and the subsequent sale or lease of the potential
develognent property to private developers for connercial develo�ment are
stateci ob�ectives of the Redevelopnent Plan.
Page 2- Resolution No. FIRP� 19 - 1984
1.07 It has been further proposed that the Author�ty acquire and reconvey
' Lots 3, 5, and 6, Block 4, University Industrial Park (the "Develo�ient
Property"j, as provided in Section 1.8 of the kedevelo�nent Plan far the
RedeveloFment Project.
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1.08 In order to achieve the ob�ectives of the Redevelo�>ment Plan and
�articularly to make the land in the Pro7ect Area available for deve].o�znent by
private enterprise in wnformance with the Redevelognent Plan, the Authority
has detennined to provide substantial aid ancl assistance in connection with
the Redevelognent P1an through the financiny of certain of the public costs of
develognent ir. the Pro�ect Area.
1.09 Gerald W. Paschke has presented the Authority with a proposal far the
construction of certain improvanents within the Pro7ect Area, as detailed in
the proposed Contract for Private Develognent betweer, the Authority ana Gerald
W. Paschke (the "Developnent Contract") attached to and make a�rt hereof as
Exhibit B, stating the terms and conditions of such devela�.�nent and the
Authonty's res�,onsibilities respecting the assistar.ce thereaf, has been
presented to the Board for its consideration.
1.10 Itt compliance with Minnesota Statutes, Section 462.525, Subdivision 2,
follcwing published notice thereof, the Boarc� of tk?e Authority held a public
hearing on such reconveyance at its regular meetirdy on [�9ay 10, 1984.
SECTION 2. Findin4s for the Modification of Tax Increment Flnancinq Plan for
Tax Increment District No. 3
2.01 The Authority hereby finds, determines ana c3eclares that the
modification ty increased pro�ect activity af Tax Incr�tent District No. 3 is
intencied and, in the �udc,ment of the Authority, its effect will l�e, to further
provide an imFetus for commercial development, increaee employment and
othexwise pranote certain public purposes and accornglish certain ob�ectives as
specifieo in the Redevelognent Plan.
SECi'ION 3. Adortion of the Modified Redevelo�anent Plan
3.01 The mochfication to the Tax Increnent Financing Plan for Tax Increment
District No. 3�resented to the Authority on this date, as set f orth in the
attached Exhibit A, is hereby approved and adopteci ana shall be placed on t�1e
in the offices of the Authorrty.
SECPION 4. Approval of Develoxment Contract
4.01 The Board hereby approves the Contract for Private Develo��ment
substantially in the form attached hereto as Exhibit B, and hereby authorizes
the Chaixman and Secretary of the Board to execute the s�me on k�ehalf of the
Authonty, with such additions ana modifications as thcse officers may oeern
necessary.
4.02 U�on execution and delivery of the Contract fer Private Develognent, the
officers anca emplopees of the Authority are hereby autharized and c7irected to
take or cause to be taken such actions as may be necessary cn behalf of the
Authority to impl enent said Agreenent.
Page 3- Resolution No. HRA 19 - 1984
PASSED AND ADOPPID BY THE FRII%�EY HOUSING APdD REDEVELOP@�NT AUTHGRITY THIS
10'IH AAY OF P7AY, 1984
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( "L��-z,t.�� � C=rL7anv�-�^,c/
LAWP�II`dCE R. WM[7ERS — CHAIFiMAN �
AZTFST:
��,A.,�-c� �,.,,�,� _
II�M M. QURFSHI — D— I�OR
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The fallaaing modification shall be made to the Tax Incr�nent Financing Plan
for Tax Increment District No. 3 within Redevelopment Pro7ect PJo. 1 at
Subsection 4.15
On May 10, 1984, the followiny modifications were made to Tax Incr�ent
District No. 3 by resolution only (no hearir.g required):
1. The Board of Commissioners of the Authority by Fesolution Pdo. HRii 19
- 1984 authorized the acquisition of Lots 3, 5. 6, Block 4 of
University Industrial Park, as provided in Subsection 1.8 of the
Moclifiec3 Redevelopnent Flan.
2. The Authorzty and Gerald W. Paschke �ropose to enter into a Contract
of Private L�velopnent stating:
a, the names of the p�rties to the contract;
b. the activity governed by tYre contract;
c. the cost stated in the contract;
' d. the e�cpected date af completion of that activity;
e. the specific develoFment reasonably expectec7 to
occur within the Pro�ect Area as a re�ult of
this Contract for Private L�velopnent; and
f. the dates when the antici�ate� developnent is
likely to occur.
3. The Authority/Gerald W. Paschke Contract for Frivate DevelaFanent has
been a�proved by the Authority by i.esolution No. HRA 19 - 1984 anc, is
on file in the office of the Authority.
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