HRA RES 1996-15 - 00001096HRA RESOLUTION N0. 15 - 1996
RESOLUTION MODIFYING THE REDEVELOPMENT PLAN FOR
REDEVELOPMENT PROJECT N0. 1 AND THE TAX INCREMENT
FINANCING PLANS FOR TAX INCREMENT FINANCING DISTRICTS
NOS. 1- 3, 6, 7, 9- 14
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. RPritals_
1.01. It has been proposed that the Authority modify, approve, and adopt a
Modified Redevelopment Plan relating to Redevelopment Project No. 1(the
"Project Area") to reflect increased geographic area and increased
project costs within the Project Area, pursuant to and in accordance
with MinnP�ota StatutP�, 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, approve, and
adopt Modified Tax Increment Financing Plans for Tax Increment Financing
Districts Nos. 1- 3, 6, 7, 9- 14 to reflect increased project costs
within the Project Area, pursuant to MinnP�ota StatutP�, Section 469.174
through 469.179, inclusive, as amended and supplemented from time to
time.
1.03. The Authority has investigated the facts and has caused to be prepared
with respect thereto, a Modified Redevelopment Plan and Modified Tax
Increment Financing Plans (collectively the "Plans") to reflect
increased geographic area and increased project costs within the Project
Area, defining more precisely the property to be included the public
costs to be incurred, and other matters relating thereto.
1.04. The Authority has performed all actions required by law to be performed
prior to the modification, approval, and adoption of the Plans.
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 modify, approve,
and adopt the Plans to reflect increased geographic area and increased
project costs within the Project Area.
Section 2. Findings_
2.01. The Authority hereby finds that the assistance to be provided through
the adoption and implementation of the Plans is necessary to assure the
development and redevelopment of the Project Area.
2.02. The Authority hereby finds that the 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 comprehensive plan.
Page 2-- HRA Resolution No. 15 - 1996
2.03. The Authority finds that the Plans afford maximum opportunity consistent
with the sound needs of the City as a whole for the development and
redevelopment of the Project Area 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, Annroval, and Adoption of a Modified Redevelo mn ent
Plan"
3.01. The modifications to the Redevelopment Plan for reflecting increased
geographic area and increased project costs within the Project Area 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 4. Modification, Annroval, and Adoption of Modified Tax Tncrement
Financing Plans_
4.01. The modifications to the Tax Increment Financing Plans for Tax Increment
Financing Districts Nos. 1- 3, 6, 7, 9- 14 reflecting increased
project costs within the Project Area 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. Filing of Plans_
5.01. Upon approval and adoption of the Plans, the Authority shall cause said
Plans to be filed with the Commissioner of Revenue.
PASSED AND ADOPTED BY THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE
CITY OF FRIDLEY THIS 11TH DAY OF JULY, 1996.
LAWRENCE R. COMMERS - CHAIRMAN
ATTEST:
WILLIAM W. BURNS - EXECUTIVE DIRECTOR