RES 1984-26 - 00005348ORMO _ kk •
A RESOLUTION AMENDING REDEVELOPMENT PROJECT NO. 1 AND
MODIFYING BY ENLARGEMENT REDEVELOPMENT PROJECT NO. 1 AND
THE REDEVELOPMENT PLAN RELATING THERETO PURSUANT TO THE
PROVISIONS OF MINNESOTA STATUTES, SECTIONS 462.411 TO
462.716, INCLUSIVE
BE IT RESOLVED by the City Council (the "Council ") of the City of Fridley,
Minnesota (the "City "), as follows:
1. Recitals.
It has been proposed and adopted by the Housing and Redevelopment Authority in
and for the City (the "Authority ") that the Authority modify by enlargement
Redevelopment Project No. 1 (the "Redevelopment Project ") within the corporate
limits of the City and amend the Redevelopment Plan relating thereto pursuant
to and in accordance with Minnesota Statutes, Sections 462.411 and 462.716,
inclusive.
The Authority has caused to be prepared, and this Council has investigated the
facts with respect thereto, a proposed amendment of the Redevelopment Plan for
the Redevelopment Project, defining more precisely the property to be added to
the Redevelopment Project and describing the action to be undertaken by the
Authority and the City to amend the Redevelopment Project.
The Authority and the City have performed all actions required by law to be
performed prior to the modification of Redevelopment Project No. 1 and the
adoption of the Amended Redevelopment Plan relating thereto, including but not
limited to, a review of the proposed Modified Redevelopment Plan for the
Redevelopment Project by the City Planning Commission and a written opinion of
the City Planning Commission and the holding of a public hearing upon
published and:.-nailed notice as required by law.
The Council hereby determines that it is necessary and in the best interest of
the City at this time to modify by enlargement the Redevelopment Project, and
to adopt and approve the amended Redevelopment Plan relating thereto and to
approve the redesignation of the Tax Increment Districts within the
Redevelopment Project.
2. Findings for the Amendment of the Redevelopment Project.
The Council hereby finds, determines and declares that the modification by
enlargement of the Redevelopment Project is intended and, in the judgement of
this Council, its effect will be to further provide an impetus for commercial
development, increase employment and otherwise promote certain public purposes
and accomplish certain objectives as specified in the Amended Redevelopment
Plan.
32
Page 2 — Resolution No. 26 - 1984
The Council determines and declares that the City made the above finding
stated in this Section 2.
The Council determines and declares that the Redevelopment Project is hereby
modified.
3. Adoption of the Amended Redevelopment Plan.
The Amended Redevelopment Plan for Redevelopment Project No. 1 presented to
' the Council on this date is hereby approved and adopted and shall be placed on
file in the office of the Clerk- Treasurer. The Amended Redevelopment Plan
shall be collectively entitled "Modified Redevelopment Plan for Redevelopment
Project No. 1 (Center City Redevelopment Area) and Tax Increment Financing
Plans for Tax Increment District No. 1 (Center City) , Tax Increment District
No. 2 (Moore Lake) and Tax Increment District No. 3 (North Area) , Housing and
Redevelopment Authority in and for the City of Fridley, Minnesota, March 5,
1984."
1
4. Implementation of "Modified Redevelopment Plan".
The officers of the City, the City's financial advisor and underwriter
therefore, and the City's legal counsel and bond counsel are authorized and
directed to proceed with the implementation of the Modified Redevelopment Plan
and for this purpose to negotiate, draft, prepare and present to this Council
for its consideration all further plans, resolutions, documents and contracts
necessary for this purpose.
PASSED AND ADOPTED BY THE CITY ODUNCM OF THE CITY OF FRIDLEY THIS 27TH DAY OF
FEBRUARY, 1984.
ATTEST:
SIDNEY C. INMAN - CITY CLERK
WILLIAM J.- E MAYOR --
33