HRA RES 1997-03 - 00001032HRA RESOLUTION NO. 3- 1997
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 NOAH'S ARK OF
MINNESOTA, INC.
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 1. Recitals.
1.01.It has been proposed that the Authority enter into a Contract
for Private Redevelopment (the "Contract") with Noah's Ark of
Minnesota, Inc. (the "Redeveloper").
Section 2. Findings.
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 seq.
2.02.The Authority hereby finds that the Contract promotes the
objectives as outlined in its Redevelopment Program.
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 if the
following conditions are met by July 1, 1997:
1. Substantial conformance of a Contract to the Contract
presented to the Authority as of this date; and
2. A final approval by the City of Fridley of a housing revenue
bond to finance the project described in the Contract.
PASSED AND ADOPTED BY THE HOUSING & REDEVELOPMENT AUTHORITY OF THE
CITY OF FRIDLEY THIS 13TH DAY OF MARCH, 1997.
LAWRENCE R. COMMERS - CHAIRMAN
ATTEST:
WILLIAM W. BURNS - EXECUTIVE DIRECTOR