HRA RES 1992-01 - 00013882RESOLUTION NO. HRA 1- 1992
1 A RESOLUTION AUTHORIZING EXECUTION AND
DELIVERY OF A CONTRACT FOR PRIVATE
REDEVELOPMENT BY AND BETWEEN THE HOUSING AND
- REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF
FRIDLEY AND MCGLYNN BAAERIES� INC.
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1
BE IT RESOLVED by the Board of Commissioners (the "Commissioners")
of the Housing and Redevelopment Authority in and for the City of
Fridley, Minnesota (the "Authority), as follows:
Section l. Recitals.
1.01 It has been proposed that the Authority enter into a
Contract for Private Redevelopment (the "Contract") with McGlynn
Bakeries, Inc. (the "Redeveloper).
Section 2. Findinas.
2.01. The Authority hereby finds that it has approved and
adopted a development program known as the Modified Redevelopment
Plan for its Redevelopment Project No. 1(the "Redevelopment
Program") pursuant to Minnesota Statutes, Section 469.001 et se�.
2.02. The Authority hereby finds that the Contract promotes the
objectives as outlined in its Redevelopment Program.
2.03. The Authority hereby finds that it has approved and
adopted and the City Council has created Tax Increment Financing
District No. 12 and the Authority and City Council have approved
and adopted the Tax Increment Financing Plan relating thereto
pursuant to Minnesota Statutes, Sections 469.174 through 469.179,
inclusive, as amended and supplemented from time to time.
Section 3. Authorization for Execution and Deliverv.
3.01. The Chairman and the Executive Director of the Authority
are hereby authorized to execute and deliver the Contract when the
following condition is met:
Substantial conformance of a Contract to the Contract
presented to the Authority as of this date.
PASSED AND ADOPTED BY THE HOUSING AND REDEVELOPMENT AUTHORITY OF
THE CITY OF FRIDLEY THIS 9TH DAY OF,J%ANUARY, 199� ��,
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LAWRENCE R. COMMERS, CHAIRPERSON
ATTEST:
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WILLIAM W. BURNS, EXECUTIVE DIRECTOR