HRA RES 1992-03 - 00013884�
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RF.SOLVi'ION NJ. iiRA 3- 1992
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BE IT RESOLUED by the Boanl of Coi[¢nissioners (the "Cmmnissioners") of the
Housing and Redevelopment Authority in and for the City of FY�idley, Minnesota
(the "Authority"), as follows:
section 1. Recitals.
1.01 It has been pmposed that the Authority modify the Modified Redeuelopment
Plan for Redevelopment Project No. 1 to reflect increased project costs and
increased geographic area, rn,r�,ant to and in acconn�ance with Minnesota
Statutes, Sections 469.001 through 469.047, inclusive, as amerKled and
supplemented from time to time.
1.02. It has been further proposed that the Authority modify the Modified Tax
Increment Financing Plans for Ta�c Increment Financing Districts No. 1 through
No. 12 to reflect increased pmject costs within Redevelopment Project No. 1,
pursuant to Minnesota Statutes, Section 469.174 through 469.179, inclusive, as
amerrled and supplemented fmm time to time.
1.03. The Authority has investigated the facts and has caused to be prepared
with respect thereto, a Modified Redevelopment Plan for Redevelopment Project
No. 1 to reflect increased project costs and increased geogxaphic area and
Modified Tax Increment Financing Plans for Taac Increment Financuzg Districts No.
1 through No. 12 to reflect increased project costs within Redevelopment Project
No. 1.
1.04. The Authority has performed all actions required by law to be perfo1-med
prior to the approval and adoption of the Modified Redevelopmaa�t Plan for
Redevelopme.nt Project No. 1 and of the Modified Tax Increment Finvzcing Plans
for Ta�c Increment Financing Districts No. 1 through No. 12.
1.05. 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 Redevelop�nent Plan for Redevelopment Project No. 1 to reflect increased
project costs and increased geographic area and to approve attd adopt the
Modified Tax Increment Financirig Plans for Tax Incremea�t Financing Districts No.
1 through No. 12 to reflect increased project costs within Redevelopmettt Project
No. 1.
Section 2. Findinas.
2.01. The Authority hereby finds that the assistance to be provided through the
� adoption and the implementation of the Modified Redevelopment Plan and the
Modified Tax Increment Financing Plans are necessary to assure the development
and redevelopment of Redevelopment Project No. 1.
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Page 2-- Resolution No. HRA 3- 1992
2.02. The Authority hereby finds that the Modified Redevelopment Plan and
Modifia�i Tax Increment Financittg Plans 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 con�rehensive plan.
2.03. The Authority fixtds that the Modified Redevelopment Plan and Modified Tax
Increment Financing Plans affo�l maximinn opportunity consistent with the sound
needs of the City as a whole for the develo�nent ar�d redevelopment of
Redevelopment Project No. 1 by private enterprise and it is conte�lated th,at
the development and redevelop�nt thereof will be carried out pursuant to
redevelo�anent contracts with private developers.
Section 3. Modification of the Modified Redevelopmeait Plan for Redevelopment
Project No. 1.
3.01. The modification of the Modi.fied Redevelopment Plan for Redevelopment
Project No. 1 to reflect increased project costs and increased geographic area
is herPby approved and adopted by the Coimnissioners of the Authority and is
£orwarcled to the Fridley City Council for public hearir�g, review, and approval.
Section 4. Modification of the Modified Tax Increment Financinct Plans £or Tax
Increment Financina Districts No. 1 through No. 12.
4.01. The modifications of the Modified Tax Increment Financing Plans for Tax
Incrett�e.nt Financing Districts No. 1 through No. 12
costs within Redevelopn�nt Project No. 1 are hereby
Cocc¢nissioners of the Authority arul are fo�ra�led to
public hearing, review, and appraval.
Section 5. Filirxr of Plans.
to reflect increased project
approved arxl adopted by the
the Fridley City Council for
5.01. Upon approval and adoption of the Modified Redevelopment Plan and the
Modified Ta�t Increment Financing Plans (collectively the "Plans"), the Authority
shall cause said Plans to be filed with the Con¢nissioner of Revenue.
PASSID AND ADOFPED BY 7ilE B(7ARD
OF JUI,Y, 1992.
ATPEST:
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Page 3-- Resolution No. HRA 3- 1992
' CQ2TIFICATION
I, William W. Burns, E�cecutive Director of the Housing and Redevelopment
Authority in and for the City of Fridley, County of Anoka, Minnesota, hereby
certify that the foregoiux� is a true and correct copy of Resolution No. HRA 3-
1992 passed by the Authority on the 9th day of July, 1992.
t�ill� '�� Director
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