RES 1981-133 - 00006384� •�xr. i u• r• .:r w u � wr r• n rl �r v
..r i �:: w : n r �: •
WHEREAS, under provisions of the 1973 Housing and Redevelopment Actr
Minnesota Statutes, Section 462, 411 et. seq., the City Council of
Fridley, Minnesota must approve redevelopment projects to be executed by
the Housing and Redevelopment Authority of Fridley; and
WHEREAS, the Housing and Redevelopment Authority and the Fridley City
Council has approved the North Area Redevelopment Plan; and
WHEREAS, it has been determined by the Fridley Housing and Redevelopment
Authority to use Tax Increment Financing to finance projects in the area
defined by the Tax Increment Financing Plan; and
WHEREAS, the Fridley Housing and Redevelopment Authority has submitted the
Tax Increment Plan to the City Council for veview and approval; and
WHEREAS, pursuant to notice given as required by provisions of Minnesota
Statutes, Section 273.74, Sudivision 3, the City Council conducted a
public hearing regarding the Tax Increment Plan to the North Area
Redevelopment Area;
NOWT THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL OF FRIDLEY HEREBY
FINDS AND DL'11 4INFS:
1. That the project area is blighted due to conditions of unusual an
difficult physical characteristics of the ground.
2. That the project comprising the Tax Increment Plan shall be set up as
a redevelopment project as authorized by Minnesota Statutes, 273.73,
Subdivision 10 (a) paragraph (3) in order to:
Remove blighted and deterirated conditions as determined in ,
the North Area Redevelopment Plan based on Chapter 462 of
the Laws of the State of Minnesota; and
3. That the development of land in the Tax Increment Plan would not occr
soley through private investment within the reasonable forseeable
future and therefore, the use of Tax Increment Financing is deemed
necessary.
4. That the Tax Increment Financing Plan conforms to a general plan for
the redevelopment of the City of Fridley.
5. That the Tax Increment Financing Plan will afford maximum opportunity,
consistent with the sound needs of the City of Fridley as a whole, for
the redevelopment of the project area by private enterprise.
6. That the Tax Increment Financing Plan to the North Area Redevelopment
Plan as set forth and hereby is approved; that the City Clerk is
hereby directed to file a copy of the Tax Increment Financing Plan
with the minutes of the meeting during which this resolution was
gassed; and that the City Manager is hereby directed to inform, in
writing, the Housing and Redevelopment Authority of the approval
hereby acoomplished.
PASSED AND ADOPTED BY THE HOUSING AND REDEVELOPPOgT AUTHORITY OF THE CITY '
OF FRIDLEY THIS 23RD DAY OF NOVEMBER, 1981.
ATTEST:
SID -EY INMAN - CITY CLERK .