HRA RES 1986-13 - 00013787�'
RESOLUTION N0. HRA 13 - 1986
RESOLUTION APPROVING AND AUTHORIZIY3G THE EXECUTION OF A
CONTRACT FOR PRTVATE AEVELOPMENT WITH WINFIELD
DEVEIAPMENT, INC
IT IS HEREBY RESOLVED by the Board of Commissioners (the "Board") of the
Housing and Redevelopment Authority in and for the City of Fridley, Minnesota
(the "Authorrty"), as follows
1 Recitals
A The Authorit}r has a11 the powers of a housing and redevelopment
authority under the Municipal Housing and Redevelopment Act, Minnesota
Statutes, Sections 462 411 to 461 716, inclusive, as amended (the
"Act")
B In furtherance of the ob�ectives of the Act, the Authority has
undestaken a pzogram to acquire, or otherwise promote development of,
open or undeveloped land and in this connection is engaged in carrying
out the redevelopment project known as the Authority`s Redevelopment
Project No. 1(the "Redevelopment Pro�ect") in an area (the "Pro�ect
Area") located in the City
' C There has been prepared and approved by the Authority and the City
Council of the CiCy, pursuant to the Act, a Modified Redevelopment
Plan for the Redevelopment Pro�ect (the "Redevelopment Plan")
D In order to achieve the ob)ectives of the Redevelopment Plan and
particularly to make the land in the Project Area available for
development by private enterprise in conformance with the
Redevelopment Plan, the Authority has determined to provide
substantial aid and assistance in connection with the Redevelopment
Plan through the financing of certain costs of development in the
Pro�ect Area
E Winfield Development, Inc , has presented the Authority with a
proposal for tfie construction within the Pro�ect Area of a 55,000
squaxe £oot multi-tenant industrial/commercial facility and a certain
Contract for Private Redevelopment between the Authority and Winfield,
Inc (tl-ie "Development Contract"), stating the terms and conditions of
such development and the Authority's responsibilities respecting the
assistance thereof, has been presented to the Board for its
consideration
F The Development Contxact pxovides that the HRA wi11 assist Winfield
Development, Inc with soil correction costs not to exceed $3D,OD0 to
be paid upon completion of the agreed upon minimum improvements, the
' issuance by the City of the Certificate of Occupancy, and, a written
report from a qualified licensed englneer stating that the soll
correction costs incurred by the Redeveloper is equal to or exceeds
$116,000
Page 2- Resolution No HRA 13 - 1986
' 2 The Board hereby approves the Contract for Private Development and hereby
authorize the Chairman and Dizector to execute the same on behalf of the
Authority, with such additions and modifications as those officers may
deem necessary.
3 Upon execution and delivery of the Contract for Private Development, 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 6ehalf of
the Authority to implement such Agreement
PASSED AND ADOPTED BY THE HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF
FRTDLEY THIS 14TH DAY OF AUGUST, 1986
ATTEST
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ASIM M QURESHI, DIRECTOR
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LARR�rf OMMERS, CHAIRMAN
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