HRA RES 2007-01 - 00014321RESOLUTION NO. 2007-01
A RESOLUTION MODIFYING THE REDEVELOPMENT PLAN FOR REDEVELOPMENT
PROJECT NO. 1 AND THE TAX INCREMENT FINANCING PLANS FOR TAX INCREMENT
FINANCING DISTRICTS NOS. 1-3, 6-7, 9,11-14 AND 16-18 TO REFLECT INCREASED PROJECT
COSTS AND INCREASED BONDING AUTHORITY WITHIN REDEVELOPMENT PROJECT
NO. 1, CREATING TAX INCREMENT FINANCING DISTRICT NO. 19 AND ADOPTING A TAX
INCREMENT FINANCING PLAN RELATING THERETO
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.
1.0 L It has been proposed that the Authority approve and adopt the proposed modifications to its
Redevelopment Plan for Redevelopment Project No. 1(the "Project Area") reflecting increased project costs and
increased bonding authority, 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 approve and adopt the proposed modifications to the Tax
Increment Financing Plans (the "E�sting Plans") for Tax Increment Financing Districts Nos. 1-3, 6-7, 9, 11-14
and 16-18 (the "E�sting Districts") reflecting increased project costs and increased bonding authority within the
Project Area, pursuant to Minnesota Statutes, Section 469.174 through 469.1799, inclusive, as amended and
supplemented from time to time.
1.03. It has been further proposed that the Authority approve the creation of proposed Tax Increment Financing
District No. 19 (the "Proposed District") within the Project Area and approve and adopt the proposed Tax
Increment Financing Plan (the "Proposed Plan") relating thereto, pursuant to and in accordance with Minnesota
Statutes, Sections 469.174 to 469.1799, inclusive, as amended and supplemented from time to time.
1.04. The Authority has investigated the facts and has caused to be prepared with respect thereto, a modified
Redevelopment Plan for the Project Area and modified E�sting Plans for the E�sting Districts reflecting
increased project costs and increased bonding authority within the Project Area and a Proposed Plan for the
Proposed District, defining more precisely the property to be included the public costs to be incurred, and other
matters relating thereto.
1.05. The Authority has performed all actions required by law to be performed prior to the approval and
adoption of the modifications to the Redevelopment Plan and E�sting Plans and the approval and adoption of the
Proposed Plan.
1.06. The Authority hereby determines that it is necessary and in the best interests of the City and the Authority
at this time to approve and adopt the modifications to the Redevelopment Plan and E�sting Plans, to create the
Proposed District and to approve and adopt the Proposed Plan relating thereto.
Section 2. F�s.
2.01. The Authority hereby finds, determines and declares that the assistance to be provided through the adoption
and implementation of the modified Redevelopment Plan, modified Plans and Proposed Plan (collectively, the
"Plans") is necessary to assure the development and redevelopment of the Project Area.
2.02. The Authority hereby finds, determines and declares that the 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 finds, determines and declares that the Plans afford ma�mum opportunity consistent with
HRA Resolution No. 2007-01 Page 2
the sound needs of the City as a whole for the development and redevelopment of the Project Area 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. Approvals and Adoptions.
3.01. The modifications to the Redevelopment Plan reflecting increased project costs and increased bonding
authority within the Project Area 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.
3.02. The modifications to the E�sting Plans reflecting increased project costs and increased bonding authority
within the Project Area 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.
3.03. The creation of the Proposed District within the Project Area and the adoption of the proposed TIF Plan
relating thereto 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. Filin� of Plans.
4.01. Upon approval and adoption of the Plans, the Authority shall cause said Plans to be filed with the
Minnesota Department of Revenue, the Office of the State Auditor and Anoka County.
PASSED AND ADOPTED BY TI� FRIDLEY HOUSING AND REDEVELOPMENT AUTHORITY OF
TI� CITY OF FRIDLEY THIS lst DAY OF FEBRUAR , 2 07.
La ence R Commers, Chairperson
ATTEST:
� " �.
William W. Burns, Executive Director
CERTIFICATION
I, William W. Burns, Executive Director of the Housing and Redevelopment Authority in and for the City of
Fridley, County of Anoka, Minnesota, hereby certify that the foregoing is a true and correct copy of Resolution
No. 2007-01 adopted by the Authority on the 1 st day of February, 2007.
William W. Burns, Executive Director