HRA RES 1999-12 - 00000988RESOLUTION NO. HRA 12-1999
A RESOLUTION MODIFYING THE REDEVELOPMENT PLAN FOR
REDEVELOPMENT PROJECT NO. 1 AND THE TAX INCREMENT FINANCING
PLANS FOR TAX INCREMENT FINANCING DISTRICTS NOS. 1 THROUGH 3, 6, 7,
AND 9 THROUGH 16 TO REFLECT ENLARGEMENT OF REDEVELOPMENT
PROJECT NO. 1 AND INCREASED PROJECT COSTS TO BE UNDERTAKEN
THEREIN
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 modify, approve, and adopt a Modified
Redevelopment Plan relating to Redevelopment Project No. 1 to reflect enlargement of the
project area and increased project costs to be undertaken therein, pursuant to and in accordance
with Minnesota Statutes, 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 Tas
Increment Financing Plans for Tax Increment Financing Districts Nos. 1 through 3, 6, 7, and 9
through 16 (the "TIF Districts") to reflect enlargement of the project area and increased project
costs to be undertaken within Redevelopment Project No. 1, pursuant to Minnesota Statutes,
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 for Redevelopment Project No. 1 and Modified Tax
Increment Financing Plans for the TIF Districts (the "Modified Tax Increment Financing Plans")
to reflect enlargement of the project area and increased project costs to be undertaken within
Redevelopment Project No. 1.
1.04 The Authority has performed all actions required by law to be performed prior to the
modification, approval, and adoption of the Modified Redevelopment Plan and the Modified Tax
Increment Financing 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 Modified Redevelopment Plan
and the Modified Tax Increment Financing Plans to reflect enlargement of the project area and
increased project costs to be undertaken within Redevelopment Project No. 1.
Section 2. Findin�s.
2.01 The Authority hereby finds that the assistance to be provided through the adoption and
implementation of the Modified Redevelopment Plan and Modified Tax Increment Financing
Plans are necessary to assure the development and redevelopment of Redevelopment Project No.
1.
2.02 The Authority hereby finds that the Modified Redevelopment Plan and Modified Tax
Increment Financing 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.
2.03 The Authority hereby finds that the Modified Redevelopment Plan and Modified Tax
Increment Financing Plans afford maximum opportunity consistent with the sound needs of the
City as a whole for the development and redevelopment of Redevelopment Project No. 1 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, A�proval, and Adoption of Modified Redevelopment Plan.
3.01 The modifications to the Modified Redevelopment Plan for Redevelopment Project No
reflecting enlargement of the project area and increased project costs 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, A�proval, and Adoption of Modified Tax Increment Financing
Plans.
4.01 The modifications to the Modified Tax Increment Financing Plans for the TIF Districts
reflecting enlargement of the project area and increased project costs to be undertaken within
Redevelopment Project No. 1 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. Filin� of Plans.
5.01 Upon approval and adoption of the Modified Redevelopment Plan and the Modified
Tax Increment Financing Plans (collectively, the "Plans"), the Authority shall cause said Plans
to be filed with the Commissioner of Revenue.
PASSED AND ADOPTED BY THE FRIDLEY HOUSING AND REDEVELOPMENT
AUTHORITY 1N AND FOR THE CITY OF FRIDLEY, MINNESOTA, THIS 7TH DAY OF
OCTOBER 1999.
LAWRENCE R. COMIV�RS, CHAIRPERSON
ATTEST:
WILLIAM W. BURNS, EXECUTIVE DIRECTOR