HRA RES 1997-07 - 00001041HRA RESOLUTION NO. 7- 1997
A RESOLUTION AUTHORIZING EXECUTION AND DELIVERY OF
A CONTRACT FOR PRIVATE REDEVELOPMENT BY AND
BETWEEN THE HOUSING & REDEVELOPMENT AUTHORITY IN
AND FOR THE CITY OF FRIDLEY AND COMN�RCIAL RAIL
PROPERTIES, 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 Commercial Rail Properties,
Inc. (the "Redeveloper").
Section 2. Findinqs.
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 sea.
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 Chair 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 & REDEVELOPMENT AUTHORITY OF THE
CITY OF FRIDLEY THIS 8TH DAY OF MAY, 1997.
LAWRENCE R. COMMERS - CHAIRMAN
ATTEST:
WILLIAM W. BURNS - EXECUTIVE DIRECTOR