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HRA RES 1991-06 - 000138561 RESOLOTION NO. 6 - 1991 A RESOLUTION MODIFYING THE REllEVELOPMENT PLAN FOR REDEVELOPMENT PROJECT NC�. 1 TO REFLECT INCREASED GEOGRAPHIC AREA AND INCREASED PROJECT COSTS WITHIN REDEVELOPMENT PROJECT NO. 1 AND MODIFYING THE TAX INCREMENT FINANCING PLANS FOR TAX INCREMENT FINI�NCTNG DISTRICTS NO. 1 TAROUGH NO. 11 TO REIELECT INCREASED PROJECT COSTS WITHIN REDEVELOPMENT PROJECT NO. 1 AND ESTABLISHING PROPOSED� TAX INCREMENT FINANCING DISTRICT NO. 12 AND APPROVING AND ADOPTING THE PROPOSED TAX INC]E2EMENT FINANCING PLAN RELATING THERETO. BE IT RESOLVED by the Board of Commissaoners (the "Commissioners") of the Housing and Redevelopment Authority in and for the City of Fridley, Minnesota (the "Authority"), as follows: Section 1. Recitals. 1.01. It has been proposed that the Authority modify the Modified Redevelopment Plan for Redevelopment Pro�ect No. 1 to reflect increased project costs and increased geographac area, 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 the Modified Tax Increment Financing Plans for Tax Increment Financing Districts No. 1 through No. 11 to reflect increased pro�ect costs within Redevelopment Project No. 1, pursuant to Minnesota Statutes, Section 469.174 through 469.179, inclusive, as amended and supplemented from time to time. 1.03. It has been further proposed that the Authority approve the proposed Tax Increment Financing Plan i=or proposed Tax Increment Financing District No. 12 pursuant to and in accordance with Minnesota Statutes, Section 469.174 to 469.179, inclusive, as amended and supplemented from time to time. 1.04. The Authority has investiqated the facts and has caused to be prepared with respect thereto, a Modified Redevelopment Plan for Redevelopment Pro�ect No. 1 to refle�ct increased pro7ect costs and increased geographic area; Modified Tax Increment Financing Plans for Tax Increment Financing Districts No. 1 through No. 11 to reflect increased project costs within Redevelopment Pro7ect No. 1; and a proposed Tax Increment Financing Plan for proposed Tax Increment Financing District No. 12, defining more precisely the property to be included, the public cost:s to be incurred and other ' matters relating thereto. Page 2- Resolution No. HRA 6- 1991 � 1.05. The Authority has performed all actions required by law to be performed prior to the approval and adoption of the Modified Redevelopment Plan for Redevelopment Project No. 1, of the Modified Tax Increment Financing Plans for Tax Increment Financing Districts No. 1 through No. 11, and of the proposE=d Tax Increment Financing Plan for proposed Tax Increment Financing District No. 12. 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 approve and adopt the Modified Redevelopment Plan for Redevelopment Pro�ect No. 1 to reflect increased project costs and increased geographic area; to approve and adopt t.he Modified Tax Increment Financing Plans for Tax Increment Financ�ng Districts No. 1 through No. 11 to reflect increased pro7ect costs within Redevelopment Project No. 1; and to approve and adopt the proposed Tax Increment Financing Plan for proposed Tax Increme;nt Financing District No. 12. Section 2. Findinqs. 2.01. The Authority hereby finds that the assistance to be provided through the adoption and the implementation of the Modified Redevelopment Plan, Modified Tax Increment Financing Plans ' and proposed Tax Increment Financing Plan are necessary to assure the 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 in that they are consistent with the City's comprehensive plan. 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 Pro7ect No. 1 by private enterprise and it is contemplated that the development and �redevelopment thereof will be carried out pursuant to redevelopment contracts with private developers. Section 3. Modification of the Modified Redevelopment Plan for Redevelooment Proiect No. 7. 3.01. The modification of the Modified Redevelopment Plan for Redevelopment Project No. 1 to reflect increased pro7ect costs and increased geographic area is hereby approved and adopted by the ' Commissioners of the Authority and is forwarded to the Fridley City Council for public hearing, review and approval. � Page 3- Resolution No. HRA 6- 1991 Section 4. Modification of the Modified Tax Increment Financin4 Plans for Tax Increment Financinq Districts No. 1 throuqh No. 11. 4.01. The modifications of the Modifie�d Tax Increment Financing Plans for Tax Increment Financing Districts No. 1 through No. 11 to reflect increased project costs within Redevelopment Pro7ect No. 1 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 5. Anproval of the Tax Increment Financinp Plan and Establishment of Proposed Tax Increment Financinq District No. 12. 5.01. The establishment of proposed Tax Increment Financing District No. 12 within Redevelopment Pro7ect No. 1 and the proposed Tax Increment Financing Plan 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. Filinq of Plans. 6.01. Upon approval and adoption of the Modified Redevelopment ' Plan, the Modified Tax Increment Financing Plans and the proposed Tax Increment Financing Plan (collect.ively the "Plans"), the Authority shall cause said Plans to be filed with the Commissioner ' of Revenue. PASSED AND ADOPTED BY AUTHORITY OF THE CITY OF THE FRIDLEY HOUSING AND REDEVELOPMENT FRIDLEY THIS 14TH DAY OF NOVEMBER, 1991. C���� � LAWRENCE R. COMMERS - CHAIRPERSON ATTEST: n r,,;,/�.�.,r �_�,��- W LLIAM W.�BU` NS - EXECUTIVE DIRECTOR CERTIFICATZON 1 2, William W. Burns, 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 6- 1991 passed by the Authority on the 14th day of November, 1991. -r �/„ -Y��'���-- WILLIAM W. BUZ2NS - EXECUTIVE DIRECTOR 1 1