HRA RES 1989-03 - 00013832RESOLUTION N0. HRA 3- 1989
� RESaLUTION MODIEYING THE REDEVELOPMENT PLAN F�A
REDEVELOPMENT PROSECT N0. 1 AND MODIFYING THE TAX
INCREMENT FINANCING PLANS FOR TAX INCREMENT FINANCING
DISTRICTS N0. 1 THROUGH N0. 8 TO REFLECT INCREASED
PRQSECT COSTS AND INCREASED GEOGRAPHIC AREA WITHIN
REDEVELOPMENT PROJECT N0. 1; AND CREATING TAX INCREMENT
FINANCING DISTRICT NO 9 AND APPROVING AND ADOPTING THE
TAX INCREMENT FINANCING PLAN RELATING THERETO
BE IT RESOLVED by the Board of Commissioners (the "Commissioners") of the
Housing and Redevelopment Authority in and for the City of Fridley, Mlnnesota
(the "Authority"), as follows
Section 1 Recitals.
1 O1 It has been proposed that the Authority modify Redevelopment Project No
1 to reflect increased project costs and increased geographic area and
approve and adopt a Modified Redevelopmettt Plan relating thereto, pursuant
to and in accordance with Minnesota Statutes, Sections 469 001 to 469 047,
inclusive, as amended and supplemented from time to time
1 02 It has been further proposed that the Authority modify Tax Increment
Financing Districts No 1 through No 8 to reflect increased project costs
and increased geographic area within Redevelopment Pro�ect No 1 and
� approve and adopt Modified Tax Increment Financing Plans relating thereto,
pursuant to Minnesota Statutes, Section 464 174 through 469 179,
inclusive, as amended and supplemented from time to time
1 03 It has been further proposed that the Authority approve the creation of
proposed Tax Increment Financing Distxict No 9 and approve and adopt the
proposed Tax Increment Financing Plan relating thereto pursuant to and in
accordance with Minnesota Statutes, Section 469 714 to 469 ll9, inclusive,
as amended and supplemented from time to time
1 04 The Authority has investigated the facts and has caused to be prepared
with respect thereto, a Modified Redevelopment Plan for Redevelopment
Project No 1 reflecting increased pro�ect costs and increased geographic
area, Modified Tax Increment Financing P1ans for Tax Increment Financing
Districts No 1 through No 8 reflecting increased pro�ect costs and
increased geographic area within Redevelopment Pro�ect No l, and a
proposed Tax Increment Financing Plan for proposed Tax Increment Financing
District No 9, defining more precisely the property to be included, the
public costs to be incurred and other matters relating thereto
1 O5 The Authority has perfoxmed all actions required by law to be performed
prior to the modification of Redevelopment Pro�ect No 1 and Tax Increment
Financing Districts No 1 through No 8 and the approval and adoption of
the Modified Redevelopment Plan and Modified Tax Increment Financing Plans
relating thereto, and to the creation of proposed Tax Increment Financing
' District No 9 and the approval and adoption of the proposed Tax Increment
Financing Plan relating thereto
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Page 2- Resolution No HRA 3- 1989
1 06 The Authority hereby determines that it is necessary and in the best
interests of the City and the Authority at this time to modify
Redevelopment Project No 1 to reflect increased project costs and
increased geographic area and to approve and adopt the Modified
Redevelopment Plan relating thereto, to modify Tax Increment Financing
Districts No 1 through No. 8 to reflect increased pxoject costs and
increased geographic area within Redevelopment Project No 1 and to
approve and adopt the Modified Tax Increment Financing Plans relating
thereto, and to create proposed Tax Increment Financing ➢istrict No 4 and
to approve and adopt the proposed Tax Increment Financing Plan relating
thereto
Section 2 Findines
2 O1 The Authority hereby finds that the assistance to be provided through the
adoption and the implementation of the Modified Redevelopment P1an,
Modified Tax Increment Financing Plans and proposed Tax Increment
Financing Plan are necessary to assure development and redevelopment of
Redevelopment Project No 1
2 02 The Authority hereby finds that the Modified Redevelopment Plan, Modified
Tax Increment Financing Plans and proposed Tax Increment Financing Plan
conform to the general plan for the development and redevelopment of the
City as a whole
2 03 The Authority finds that the Modified Redevelopment Plan, Modified Tax
Increment Financing Plans and proposed Tax Increment Financing Plan afford
maximum opportunity consistent with the sound needs of the City as a whole
for the development and redevelopment of Redevelopment Pro�ect No 1
Section 3 A�proval of the Modification of Redevelonment Proiect No 1 and the
Approval and Adovtion of the Modified Redevelonment Plan Relatin2
thereto
3 Ol The modification of Redevelopment Project No. 1 reflecting incxeased
pro�ect costs and increased geographic area and the approval and adoption
of the Modified Redevelopment Plan relating thereto are hereby approved
and adopted by the Commissioners oE the Authority and are forwarded to the
Fridley City Council for public hearing, review and approval
Section 4. Approval of the Modification of Tax Increment Financine Districts
No 1 throu¢h No 8 and the Aunroval and Adoption of the Modified
Tax Increment Financin¢ P1ans Relating thereto
4 O1 The modification of Tax Increment Financing Districts No 1 through No
8 reflecting increased project costs and increased geographic area within
Redevelopment Project No 1 and the approval and adoption of rh� Modified
Tax Increment Financing Plans relating thereto are hereby approved and
adopted by the Commissioners of the Authority and are forwarded to the
Fridley City Council for public hearing, review and approval
Page 3- Resolution No HRA 3- 1989
� Section 5, Approval of the Creation of Proposed Tax Increment Financin¢
District No 9 and the Anproval and Adovtion of the Provosed Tax
Increment Financine Plan Relatine thereto
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5 01 The creation of proposed Tax Increment Financing District No 9 and the
approval and adoption of the proposed Tax Increment Financing P1an
relating thereto are hereby approved and adopted by the Commissioners of
the Authority and are forwarded to the Fridley City Council for public
hearing, review and approval.
Section 6. Filine of Plans.
6 01 Upon approval and adoption of the Modified Redevelopment P1an, Modified
Tax Increment Financing Plans and proposed Tax Inczement Financing Plan
(collectively the "Plans"), the Authority sha11 cause said Plans to be
filed with the Minnesota Department of Trade and Economic Development
PASSED AND ADOPTED BY THE FRIDLEY HOUSING AND REDEVELOPMENT AUTHORITY THIS 8TH
DAY OF JUNE, 1989
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LAWRENCE R COMMERS
CHAIRMt1N
ATTEST•
JqHN "L ` "J�CK" 120BER'TSON
�XECUTIVE DIRECTOR
CERTIFICATION
� I, Sock Robertson, Executive Director of the Housing and Redevelopment Authority
in and for the City of Fridley, County of Anoka, Minnesota, hereby certify that
the foregoing is a true and correct copy of Resolution No HRA 3- 1989 passed
by the Authority on the Sth day of June, 1989
SOHN L "JOCK" ROBERTSON
EXECUTIVE DIRECTOR
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