HRA RES 2012-13 - 14975 TIF Dist Creation #21HRA RESOLUTION NO. 2012-13
A RESOLUTION MODIFYING THE REDEVELOPMENT PLAN FOR
REDEVELOPMENT PROJECT NO. 1 AND THE TAX INCREMENT
FINANCING PLANS FOR TAX INCREMENT FINANCING DISTRICTS
NOS. 6-7, 9, 11-13 AND 16-20 TO REFLECT INCREASED PROJECT
COSTS AND INCREASED BONDING AUTHORITY WITHIN
REDEVELOPMENT PROJECT NO. 1, CREATING TAX INCREMENT
FINANCING DISTRICT NO. 21 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.
1.01. 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. 6-7, 9, 11-13 and 16-20 (the "Existing 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. 21 (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
Existing Districts reflecting increased project costs and increased bonding authority within the
Project Area and the 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 Existing Plans and the
approval and adoption of the Proposed Plan.
HRA Resolution No. 2012-13
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. Findin�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
ofthe 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 maximum
opportunity consistent with 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 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.
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HRA Resalutian Na. 2012-13
Sectian 4. Filing af P1ans.
4.01. Upan appraval and adaptian af the P1ans, the Autharity sha11 cause said P1ans ta be
filed with the Minnesata Department af Revenue, the Office af the State Auditar and Anaka
Caunty.
PASSED AND ADOPTED B� HOUSING AND REDEVELOPMENT AUTHORIT� IN AND
FOR THE CITY OF FRIDLE� 'TF�S 4'� DAY OF OCTOBEIt, 2012.
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LA�%VRENCE R. COl�%Ilir1ERS - CHAIRPERSON
ATTEST:
. . ����
WILLIAM W. BURNS - E�iECUTIVE DIRECTOR
CERTIFICATION
I, William W. Burns, Executive Directar af the Hausing and Redevelapment Autharity in and far
the City af Fridley, Minnesata, hereby certify that the faregaing is a true and carrect capy af
Resalutian Na. adapted by the Autharity an the 4th day af Octaber, 2012.
MMB: 4852-4671-Q284, v. 1
� � �/ • � ei'���
WIL„LIAM W. BURNS - E�iECUTIVE DIRECTOR
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