HRA RES 1999-15 - 00000993HRA RESOLUTION NO. HRA-15-1999
RESOLUTION AUTHORIZING EXECUTION AND DELIVERY OF AN AMENDED AND
RESTATED CONTRACT FOR PRIVATE REDEVELOPMENT BY AND BETWEEN THE
HOUSING AND REDEVELOPMENT AUTHORITY 1N AND FOR THE CITY OF FRIDLEY,
MINNESOTA AND MEDTRONIC, 1NC.
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 an Amended and Restated Contract For
Private Redevelopment (the "Contract") with Medtronic, Inc. (the "Redeveloper").
Section 2. Findin�s.
2.01. The Authority hereby finds that it has executed and delivered a Contract for Private
Redevelopment between the Authority and the Redeveloper made as of May 20, 1999 (the
"Original Contract").
2.02. The Authority hereby finds that certain terms of the Original Contract require
clarification.
2.03. The Authority hereby finds that the effective date of this Contract is to be identical to the
Original Contract.
2.04. The Authority hereby finds that it has approved and adopted a development program
known as the Redevelopment Plan for its Redevelopment Project No. 1(the "Redevelopment
Program") pursuant to Minnesota Statutes, Section 469.001 et se�c .
2.05. The Authority hereby finds that it has approved and adopted and the City Council has
created Tax Increment Financing District No. 6(the "T.I. District") and the Authority and City
Council have approved and adopted the Tax Increment Financing Plan relating thereto pursuant
to Minnesota Statutes, Sections 469.174 through 469.179, inclusive, as amended and
supplemented from time to time.
2.06. The Authority hereby finds that the Contract promotes the objectives as outlined in its
Redevelopment Program.
Section 3. Authorizations.
3.01. The Chairman and the Executive Director of the Authority (the "Officers") are hereby
authorized to execute and deliver the Contract when the following conditions are met:
A. The Contract to be executed substantially conforms to the Contract presented to the
Authority as of this date with such additions and modifications as those Officers may
deem desirable or necessary as evidenced by the execution thereof;
HRA Resolution No. 15-1999 Page 2
B. The City has approved the Special Legislation contained in Laws of Minnesota 1999,
Chapter 243, Article 10, Section 23.
3.02. Upon execution and delivery of the Contract, the Officers and employees of the Authority
are hereby authorized and directed to take or cause to be taken such actions as may be necessary
on behalf of the Authority to implement the Contract.
PASSED AND ADOPTED BY THE HOUSING AND REDEVELOPMENT AUTHORITY 1N
AND FOR THE CITY OF FRIDLEY, MINNESOTA THIS 9TH DAY OF DECEMBER, 1999.
LAWRENCE R. COMIV�RS - CHAIRPERSON
ATTEST:
WILLIAM W. BURNS — EXECUTIVE DIRECTOR