HRA RES 1998-03 - 00001004RESOLUTION NO. HRA 3- 1998
A RESOLUTION AUTHORIZING EXECUTION AND DELIVERY OF A
RESTATED CONTRACT FOR PRIVATE REDEVELOPMENT BY AND
BETWEEN THE HOUSING AND REDEVELOPMENT AUTHORITY IN
AND FOR THECITY OF FRIDLEY AND MEPC AMERICAN
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 Restated
Contract for Exclusive Negotiations (the "Contract") with MEPC
American Properties, Inc. (the "Redeveloper").
1.02 The Authority and the Redeveloper previously executed a Contract
for Exclusive Negotiations dated as December 1, 1995.
Section 2. Findings.
2.01 The Authority hereby finds that is 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 Delivery.
3.01 The Chairperson and the Executive Director (the "Officers") 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 with such
additions and modifications as the Officers may deem
desirable or necessary as evidenced by the execution
hereof.
PASSED AND ADOPTED BY THE HOUSING AND REDEVELOPMENT AUTHORITY
OF THE CITY OF FRIDLEY THIS 8TH DAY OF JANUARY, 1998.
LAWRENCE R. COMMERS - CHAIRPERSON
ATTEST:
WILLIAM W. BURNS - EXECUTIVE DIRECTOR