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06/26/1989 CONF MTG - 5388� � 1. CITY OF FRIDLEY CONFERENCE MEETING JUNE 26, 1989 MUNICIPAL CENTER (CITY HALL) 7:30 P,M, , �� vy v r � ,7 Public Hearing on the Approval and Adoption of the Modified Redevelopment Plan for the HRA's Redevelopment Pro�ect No. l. 2. Selection of a Curbside Recycling Contract. 3. Claims. 4. Continued Budget Work Session: Part-time employees, RecYcling, and an Additional Police Officer. � F�roa°�r FRIDLEY CITY COIINCIL MEETING Conference Meeting ATTENDENCE SHEET MONDAY , June 26 , 1989 7:30 P.M. PLEASE PRINT NAME, ADDRESS AND ITEM NUMBER YOU ARE INTERESTED IN PRINT NAME (CLEARLY) ADDRESS �-� °/� i� r�� G� cG C�DV �rcc �( U a� . .� ' rd �U� J �� . �e5 0�.� �-�� V�� .�-� �''� j` �a�) S.�` L � 0 . Z CO �J 6� 41� ��S v C, � ITEM NUMBER 0 t � cinr oF FRlDLEY DATE: TO: FROM: BIIBJECT: COI�/1ML[NITY DEVELOPMENT DEPARTMENT MEMORANDUM June 21, 1989 William Burns, City Manager Jock Robertson, Co�unity Development Director Onan Redevelopment Tax Increment District Onan Corporation is currently investigating an option to develop the southeast 35 acres of its Fridley complex. This development would include both office and warehouse space to accommodate consolidation of all off-site operations. At this early stage, cost estimates indicate that the project will fall in the $20NII�I to $25NII�i range. Approximately 80 to 90 new skilled and semi-skilled �obs would be created. In order to preserve future options, the City and HRA notified the School District and the County by May 26, 1989, and published a notice Jnne 15, 1989, that they intend to consider expanding the HRA's DeveZopment Program and establish a Redevelopment Tax Increment District to assist Onan with its 400,000 sq. ft. expansion. At the June 8, 1989 meeting, the HRA accomplished the following: A. B. C. D. E. Approved modification of Redevelopment District No. 1, and approve the modified Redevelopment Plan relating thereto; Approved modification of TIF Districts 1-8; Approved and adopted the modified TIF plans relating thereto; Approved creation of TIF District No. 9 and approved and adopted the proposed TIF plan relating thereto. Recommend a public hearing be held and the district be established at the June 26th Council meeting. Staff recommends adoption of the attached resolution modifying and adopting �the Fridley Redevelopment and Tax Increment Financing plan. JR/dn M-89-349 � 9 � TABLE OF CONTENTS (This Table of Contents is not part of the Modified Redevelopment Plan and Tax Increment Financing Plans, and is only for convenience of reference.) SECTION I. MODIFIED REDEVELOPMENT PLAN FOR REDEVELOPMENT PROJECT NO. 1 (CENTER CITY REDEVELOPMENT AREA) Subsection 1.1. Subsection 1.2. Subsection 1.3. Subsection 1.4. Subsection 1.5. Subsection 1.6. Subsection 1.7. Subsection 1.8. Subsection 1.9. Subsection 1.10. Subsection 1.11. Subsection 1.12. Subsection 1.13. Subsection 1.14. Subsection 1.15 Definitions Introduction Statement and Finding of Public Purpose Statutory Authority Statement of Objectives Boundaries of Redevelopment Project No. 1 Boundary Maps of Redevelopment Project No. 1 Parcels to be Acquired in Whole or in Part Within Redevelopment Project No. 1 Estimated Public Improvement Costs and Supportive Date Public Improve�tents and Facilities Within Redevelopment Project No. 1 Environmental Controls Proposed Reuse of Property Administration and Maintenance of Redevelopment Project No. 1 Rehabilitation Relocation EXHiBIT I-A-1 Description of Property Constituting Redevelopment Project No. 1, as Established on May 15, 1979 EXHIBIT I-A-2 Description of Additional Property Within Redevelopment Project No. 1, as Modified August 22, 1983 EXHIBIT I-A-3 Description of Additional Property Within Redevelopment Project No. 1, as Modified June 26, 1989 (i) PAGE 1-1 1-3 1-3 1-9 1-10 1-11 1-11 1-11 1-13 1-16 1-18 1-18 1-18 1-18 1-19 I-A-1 I-A-2 I-A-3 Subsection 9.5. Subsection 9.6. Subsection 9.7. Subsection 9.8. Subsection 9.9. Subsection 9.10. Subsection 9.11. Subsection 9.12. Subsection 9.13. Subsection 9.14. Subsection 9.15. EXHIBIT IX-A EXHIBIT IX-B SECTION X. Estimated Public Improvement Costs and Supportive Data (ref) Sources of Revenue Original Assessed Value Estimated Captured Assessed Value Type of Tax Increment Financing District Duration of Tax Increment Financing District No. 8 Estimated Impact on Other Taxing Jurisdictions Estimated Amount of Bonded Indebtedness Tax Increment Financing Account for Tax Increment Financing DistriCt No. 8 Land Disposition and Redevelopers Requirements Modification of Tax Increment Financing District No. 8 Description of Property Constituting Tax Increment Financing District No. 8, as Established September 22, 1986 Boundary Map of Tax Increment Financing District No. 8, as Established September 22, 1986 TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 9 (OLD CENTRAL/ONAN) Subsection 10.1. Subsection 10.2. Subsection 10.3. Subsection 10.4. Subsection 10.5. Subsection 10.6. Subsection 10.7. Subsection 10.8. Subsection 10.9. Subsection 10.10. Subsection 10.11. Statement of Objectives (ref) Modified Redevelopment Plan (ref) Parcels to be Included Parcels in Acquisition (ref) Development Activity for which Contracts have been Signed Specific Development Expected to Occur Prior Planned Improvements Fiscal Disparities Estimated Public Improvement Costs (ref) Estimated Amount of Bonded Indebtedness Sources of Revenue (viii) 9-1 9-1 9-1 9-1 9-2 9-2 9-2 9-2 9-3 9-3 9-3 IX-A-1 IX-B-1 10-1 10-1 10-1 10-1 10-1 10-1 10-2 10-2 10-2 10-2 10-2 r �1 ` Subsection 10.12. Estimated Original and Captured Tax Capacities 5ubsection 10.13. Tax Capacity Rate Subsection 10.14. Tax Increment 5ubsection 10.15. Type of Tax Increment Financing District Subsection 10.16. Duration of Tax Increment Financing District Subsection 10.17. Estimated Impact on Other Taxing Jurisdictions � Subsection 10.18. Modification of Tax Increment EXHIBIT X-A EXHIBIT X-B EXHIBIT X-C EXHIBIT X-D EXHIBIT X-E r Financing District and/or Tax Increment Financing Plan Parcels to be Included in Tax Increment Financing District No. 9 Boundary Map of Tax Increment Financing District No. 9 Cash Flow Analysis for Tax Increment Financing District No. 9 "But For" Analysis for Tax Increment Financing District No. 9 Estimated Impact of Tax Increment Financing District No. 9 on Other Taxing Jurisdictions (ix) 10-2 10-3 10-3 10-3 10-3 10-3 10-3 X-A-1 X-B-1 X-C-1 X-D-1 X-E-1 � !' Councilmember introduced the following resolution, the reading of which was dispensed with by unanimous consent, and moved its adoption: CITY OF FRIDLEY COUNTY OF ANOKA STATE OF MINNESOTA RESOLUTION NO. A RESOLUTION MODIFYING THE REDEVELOPMENT PLAN FOR REDEVELOPMENT PROJECT NO. 1 TO REFLECT INCREASED PROJECT COSTS AND INCREASED GEOGRAPHIC AREA AND MODIFYING THE TAX INCREMENT FINANCING PLANS FOR TAX INCREMENT FINANCING DISTRICTS NO. 1 THROUGH NO. 8 TO REFLECT INCREASED PROJECT COSTS AND INCREASED GEOGRAPHIC AREA WITHIN REDEVELOPMENT PROJECT NO. 1; AND CREATING PROPOSED TAX INCREMENT FINANCING DISTRICT NO. 9 AND APPROVING AND ADOPTING THE PROPOSED TAX INCREMENT FINANCING PLAN RELATING THERETO. BE IT RESOLVED by the City Council (the "Council") of the City of Fridley, Minnesota (the "City"), as follows: Section 1. Recitals. 1.01. It has been proposed and approved by the Housing and Redevelopment Authority (the "Authority") that the Council modify Redevelopment Project No. 1 to reflect increased project costs and increased geograpic area and approve and adopt a Modified Redevelopment Plan relating thereto, 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 and approved by the Authority that the Council modify Tax Increment Financing Districts No. 1 through No. 8 to reflect increased project costs and increased geographic area within Redevelopment Project No. 1 and approve and adopt Modified Tax Increment Financing Plans relating thereto, pursuant to Minnesota Statutes, Section 469.174 through 469.179, inclusive, as amended and supplemented from time to time. 1.03. It has been further proposed and approved by the Authority that the Council approve the creation of proposed Tax Increment Financing District No. 9 and approve and adopt the � proposed Tax Increment Financing Plan relating thereto pursuant to and in accordance with Minnesota Statutes, 5ection 469.174 to 469.179, inclusive, as amended and supplemented from time to time. 1.04. The Authority has caused to be prepared, and this Council has investigated the facts with respect thereto, a Modified Redevelopment Plan for Redevelopment Project No. 1 reflecting increased project costs and increased geographic area; Modified Tax Increment Financing Plans for Tax Increment Financing Districts No. 1 through No. 8 reflecting increased project costs and geographic area within Redevelopment Project No. 1; and a proposed Tax Increment Financing Plan for proposed Tax Increment Financing District No. 9, defining more precisely the property to be included, the public costs to be incurred and other matters relating thereto. 1.05. The Authority and the Council have performed all actions required by law to be performed prior to the modification of Redevelopment Project No. 1 and the approval and adoption of - the Modified Redevelopment Plan relating thereto; to the modification of Tax Increment Financing Districts No. 1 through No. 8 and the approval and adoption of the Modified Tax Increment Financing Plans relating thereto; and to the creation of proposed Tax Increment Financing District No. 9 and the approval and adoption of the proposed Tax Increment Financing Plan relating thereto. 1.06. The Council hereby determines that it is necessary and in the best interests of the City and the Authority at this time to modify Redevelopment Project No. 1 to reflect increased project costs and increased geographic area and to approve and adopt the Modified Redevelopment Plan relating thereto; to modify Tax Increment Financing Districts No. 1 through No. 8 to reflect increased project costs and increased geographic area within Redevelopment Project No. 1 and to approve and adopt the Modified Tax Increment Financing Plans relating thereto; and to create proposed Tax Increment Financing District No. 9 and to approve and adopt the proposed Tax Increment Financing Plan relating thereto. Section 2. FindinQS. 2.01. The Council hereby finds, determines and declares that the assistance to be provided through the adoption and implementation of the Modified Redevelopment Plan, Modified Tax Increment Financing Plans and proposed Tax Increment Financing Plan are necessary to assure development and redevelopment of Redevelopment Project No. 1. 2 2.02. The Council hereby finds, determines and declares that the Modified Redevelopment Plan, Modified Tax Increment Financing Plans and proposed Tax Increment Financing Plan 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 Council hereby finds, determines and declares that the Modified Redevelopment Plan, Modified Tax Increment Financing Plans and proposed Tax Increment Financing Plan afford maximum opportunity consistent with the sound needs of the City as a whole for the development and redevelopment of Redevelopment Project No. 1 by private enterprise and it is contemplated that the development and redevelopment thereof will be carried out pursuant to a redevelopment contract with a private developer. 2.04. The Council hereby finds, determines and declares that the modification of Redevelopment Project No. 1, the modification of Tax Increment Financing Districts No. 1 through No. 8 and the creation of Tax Increment Financing District No. 9 and the adoption and approval of the Modified Redevelopment Plan, Modified Tax Increment Financing Plans and proposed Tax Increment Financing Plan relating thereto by the City is intended and, in the judgement of this Council, its effect will be to promote the purposes and objectives specified in this Section 2 and otherwise promote certain public purposes and accomplish certain objectives as specified in the Modified Redevelopment Plan, Modified Tax Increment Financing Plans and proposed Tax Increment Financing Plan. 2.05. The Council hereby finds, determines and declares that proposed Tax Increment Financing District No. 9 constitutes a"tax increment financing district" as defined in Minnesota Statutes, Section 469.174, Subdivision 9, and further constitutes a type of "redevelopment district" as defined in Minnesota Statutes, Section 469.174, Subdivision 10. 2.06. The Council hereby finds, determines and declares that the proposed development or redevelopment in proposed Tax Increment Financing District No. 9, in the opinion of the Council, would not occur solely through private investment within the reasonably foreseeable future and, therefore, the use of tax increment financing is deemed necessary. 2.07. The Council hereby finds, determines and declares that the City made the above findings stated in this Section 2 and has set forth the reasons and supporting facts for each determination in the Modified Redevelopment Plan, Modified Tax Increment Financing Plans, proposed Tax Increment Financing Plan and Exhibit A of this Resolution. 3 � \Section 3. Aavroval of the Modification of Redevelopment Proiect No. 1 and the Avvroval and Adoation of the Modified Redevelopment Plan Relatina Thereto. � 3.01. The modification of Redevelopment Project No. 1 reflecting increased project costs and increased geographic area and the approval and adoption of the Modified Redevelopment Plan relating thereto are hereby approved and adopted by the Council of the City of Fridley. Section 4. Apnroval of the Modification of Tax Increment FinancinQ Districts No. 1 throuah No. 8 and the AAaroval and Ado�tion of the Modified Tax Increment Financincx Plans Relatincr Thereto. 4.01. The modification of Tax Increment Financing Districts No. 1 through No. 8 reflecting increased project costs and increased geographic area within Redevelopment District No. 1 and the approval and adoption of the Modified Tax Increment Financing Plans relating thereto are hereby approved and adopted by the Council of the City of Fridley. Section 5. Avproval of the Creation of Proposed Tax Increment FinancinQ District No. 9 and the Ap�roval and Adoption of the Proposed Tax Increment FinancinQ Plan Relatinct Thereto. 5.01. The creation of proposed Tax Increment Financing District No. 9 and the approval and adoption of the proposed Tax Increment Financing Plan relating thereto are hereby approved and adopted by the Council of the City of Fridley. Section 6. Filincr of Plans. 6.01. Upon approval and adoption of the Modified Redevelopment Plan, Modified Tax Increment Financing Plans and proposed Tax Increment Financing Plan (collectively the "Plans"), the City shall cause said Plans to be filed with the Minnesota Department of Trade and Economic Development. Adopted by the Council of the City this 26th day of June, 1989. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember , and upon vote being taken thereon, the following voted in favor thereof: and the following voted against the same: 4 I Whereupon said resolution was declared duly passed and adopted, and was signed by the Mayor and attested to by the City Clerk. ATTEST: City Clerk Mayor CERTIFICATION I, 5hirley A. Haapala, the duly qualified Clerk of the City i of Fridley, County of Anoka, Minnesota, hereby certify that the � foregoing is a true and correct copy of Resolution � No. passed by the City Council on the 26th day of June, 1989. _ Shirley A. Haapala, City Clerk 5 � EXHIBIT A TO RESOLUTION NO. The reasons and facts supporting the findings for the Tax Increment Financing Plan for Tax Increment Financing District No. 9 as required pursuant to Minnesota 5tatutes, Section 469.175, Subdivision 3, are as follows: 1. Finding that Tax Increment Financing District No. 9 is a "redevelopment district" as defined in Minnesota Statutes, Section 469.174, 5ubdivision 10. Tax Increment Financing District No. 9 consists of 39 parcels of land which qualify as a redevelopment district under Minnesota Statutes, Section 469.174, Subdivision 10. 2. Finding that the proposed development or redevelopment, the opinion of the Council, would not occur solely through private investment within the reasonably foreseeable future therefore, the use of tax increment financing is deemed necessary. in and, City staff has reviewed the available financing costs for the development including acquisition costs and site improvement costs including grading, utilities to site, street improvements and soil corrections. Due to the high costs of the public improvements, the project would not be financially feasible without the City's assistance. 3. Finding that the Tax Increment Financing Plan conforms to the general plan for the development or redevelopment of the municipality as a whole. The Planning Commission of the City of Fridley has reviewed the Tax Increment Financing Plan for Tax Increment Financing District No. 9 and has determined that the Tax increment Financing Plan for Tax Increment Financing District No. 9 conforms to the comprehensive plan of the City. 4. Finding that the Tax Increment Financing Plan for Tax Increment Financing District No. 9 will afford maximum opportunity, consistent with the sound needs of the City as a whole for the development or redevelopment of Redevelopment Project No. 1 by private enterprise. The project to be developed (an office and warehouse facility) will be located within Tax Increment Financing District No. 9 and will consist of a building providing office and warehouse space and will relocate and preserve at least 140 jobs. 0 SECTION II. TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 1 (CENTER CITY) Subsection 2.1. OriQinal Tax Increment FinancinQ Plan. Prior to the adoption of the 1979 Tax Increment Financing Act it was not statutorily required that a Tax Increment Financing Plan be adopted in conjunction with the establishment of a Tax Increment Financing District. Plans for Tax Increment Financing District No. 1(Center City) were incorporated into the Center City Redevelopment Plan adopted on May 15, 1979 and on file in the Clerk-Treasurer's Office. Subsection 2.2. Modification of Tax Increment Financinct District No. 1. As of August 22, 1983, the following modification was made to Tax Increment Financing District No. 1 by Resolution only (no hearing required): The Center City Redevelopment Area was redesignated Tax Increment Financing District No. 1. As of February 25, 1985, the following modification was made to Tax Increment Financing District No. 1 by resolution only (no hearing required): Clarification that the project area of Tax Increment Financing Districts 1, 2 and 3 as originally described include the project area of each other; Recognition that Tax Increment Financing Districts 1, 2, 3, 4 and 5 are included within Redevelopment Project No. 1 and as such do not constitute a modification of Tax Increment Financing District No. 1 inasmuch as they do not constitute an enlargement of Tax Increment Financing District No. 1 nor do they enlarge the project area within which Tax Increment Financing District No. 1 was located. As June 26, 1989, the Tax Increment Financing Plan for Tax Increment Financing District No. 1 was modified to reflect increased project costs and increased geographic area� within Redevelopment Project No. 1. 2 - 1 As of November 18, 1985, September 22, 1986 and December 22, 1986, the Tax Increment Financing Plan for Tax Increment Financing District No. 2 was modified to reflect revised project costs to be incurred within Redevelopment Project No. 1 as a result of the amendment of the Modified Redevelopment Plan. As of June 26, 1989 the Tax Increment Financing Plan for Tax Increment Financing District No. 2 was modified to reflect increased project costs and increased geographic area within Redevelopment Project No. 1. 3 - 6 0 � � replace said bonds with tax increment revenue bonds. As of November 18, 1985, September 22, 1986 and December 22, 1986, the Tax Increment Financing Plan for Tax Increment Financing District No. 3 was modified to�reflect revised project costs to be incurred withim Redevelopment Project No. 1 as a result of the amendment of the Modified Redevelopment Plan. As of June 26, 1989, the Tax Increment Financing Plan for Tax Increment Financing District No. 3 was modified to reflect increased project costs and increased geographic area within Redevelopment Project No. 1. 4 - 6 Incorporation of the tax increment financing plan for Tax Increment Financing District No. 4 into the Master Plan, composed of the Modified Redevelopment Plan for Redevelopment Project No. 1 and the Modified Tax Increment Financing Plans for Tax Increment Financing Districts 1 through 5. Modification of the Tax Increment Financing Plan for Tax Increment Financing District No. 4 to facilitate the refunding of existing general obligation tax increment bonds issued for payment of public activities within the project area and to replace said bonds with tax increment revenue bonds. As of November 18, 1985, September 22, 1986 and December 22, 1986, the Tax Increment Financing Plan for Tax Increment Financing District No. 4 was modified to reflect revised project costs to be incurred within Redevelopment Project No. 1 as a result of the amendment of the Modified Redevelopment Plan. As of June 26, 1989, the Tax Increment Financing Plan for Tax Increment Financing District No. 4 was modified to reflect increased project costs and increased geographic area within Redevelopment Project No. 1. 5 - 4 Modification of the Tax Increment Financing Plan for Tax Increment Financing District No. 5 to facilitate the refunding of existing general obligation tax increment bonds issued for payment of public activities within the project area and to replace said bonds with tax increment revenue bonds. As of November 18, 1985, September 22, 1986 and December 22, 1986, the Tax Increment Financing Plan for Tax Increment Financing District No. 5 was modified to reflect revised project costs to be incurred within Redevelopment Project No. 1 as a result of the amendment of the Modified Redevelopment Plan. As of June 26, 1989, the Tax Increment Financing Plan for Tax Increment Financing District No. 5 was modified to reflect increased project costs and increased geographic area within Redevelopment Project No. 1. � 6 - 4 Subsection 7.13. Tax Increment Financina Account for Tax Increment Financina District No. 6. The tax increment received with respect to Tax Increment Financing District No. 6 will be segregated by the Authority in a special account or accounts (the "Tax Increment Account") on its official books and records or as otherwise established by resolution of the City to be held for the benefit of owners of Tax Increment Bonds. Subsection 7.14. Land Disposition and Redevelovers' Reauirements. All Redevelopers or Developers will be required by contractual agreement to observe the building requirements and zoning requirements of the City, and such other requirements as may be established by the City Council. Land disposition parcels shall be made available under separate cover as they are determined by the Authority. The Authority proposes to consummate a certain Contract for Private Development (the "Contract"), with Woodbridge Properties, Inc., a Minnesota corporation, concerning the public and private development of the property within Tax Increment Financing District No. 6. Subsection 7.15. Modification of TAx Increment FinancinQ District No. 6. As of September 22, 1986 and December 22, 1986, the Tax Increment Financing Plan for Tax Increment Financing District No. 6 was modified to reflect revised project costs to be incurred within Redevelopment Project No. 1 as a result of the amendment of the Modified Redevelopment Plan. As of June 26, 1989, the Tax Increment Financing Plan for Tax Increment Financing District No. 6 was modified to reflect increased project costs and increased geographic area within Redevelopment Project No. 1. 7 - 3 Bond sales will be based on availability of tax increment. It is contemplated that all bonds will not be issued at one time but as they are needed, at effective interest rates estimated to range between 6.50� and 10.00$ per annum. Subsection 8.13. Tax Increment Financina Account for Tax Increment FinancinQ District No. 7. The tax increment received with respect to Tax Increment Financing District No. 7 will be segregated by the Authority in a special account or accounts (the "Tax Increment Account") on its official books and records or as otherwise established by resolution of the City to be held for the benefit of owners of Tax Increment Bonds. Subsection 8.14. Land Disvosition and Redevelopers' Reauirements. All redevelopers or developers will be required by contractual agreement to observe the building requirements and zoning requirements of the City, and such other requirements as may be established by the City Council. Land disposition parcels shall be made available under separate cover a they are determined by the Authority. The Authority proposes to consummate a certain Contract for Private Development (the "Contract"), with Winfield Developments, Inc., a Minnesota corporation, concerning the public and private development of the property within Tax Increment Financing District No. 7. Subsection 8.15. Modification of Tax Increment Financinq District No. 7. As of September 22, 1986, the date of approval thereof, there have been no modifications to Tax Increment Financing District No. 7. As of December 22, 1986, the Tax Increment Financing Plan for Tax Increment Financing District No. 7 was modified to reflect revised project costs to be incurred within Redevelopment Project No. 1 as a result of the amendment of the Modified Redevelopment Plan. As of June 22, 1989, the Tax Increment Financing Plan for Tax Increment Financing District No. 7 was modified to reflect increased project costs and increased geographic area within Redevelopment Project No. 1. 8 - 3 time but as they are needed, at effective interest rates estimated to range between 6.50� and 10.00$ per annum. Subsection 9.13. Tax Increment Financina Account for Tax Increment Financina District No. 8. The tax increment received with respect to Tax Increment Financing District No. 8 will be segregated by the Authority in a special account or accounts (the "Tax Increment Account") on its official books and records or as otherwise established by resolution of the City to be held for the benefit of owners of Tax Increment Bonds. Subsection 9.14. Land Disvosition and Redevelovers' Reauirements. All redevelopers or developers will be required by contractual agreement to observe the building requirements and zoning requirements of the City, and such other requirements as may be established by the City Council. Land disposition parcels shall be made available under separate cover as they are determined by the Authority. The Authority proposes to consummate a certain Contract for Private Development (the "Contract"), with Shorewood Inc., a Minnesota corporation, concerning the public and private development of the property within Tax Increment Financing District No. 8. Subsection 9.15. Modification of Tax Increment Financin4 District No. 8. As of September 22 1986, the date of approval thereof, there have been no modifications to Tax Increment Financing District No. 8. As of December 22, 1986, the Tax Increment Financing Plan for Tax Increment Financing District No. 8 was modified to reflect revised project costs to be incurred within Redevelopment Project No. 1 as a result of the amendment of the Modified Redevelopment Plan. As of June 26, 1989, the Tax Increment Financing Plan for Tax Increment Financing District No. 8 was modified to reflect increased project costs and increased geographic area within Redevelopment Project No. 1. 9 - 3 , MODIFIED REDEVELOPMENT PLAN FOR REDEVELOPMENT PROJECT N0. 1 (CENTER CITY REDEVELOPMENT AREA) AND TAX INCREMENT FINANCING PLANS FOR TAX INCREMENT FINANCING DZSTRICT NO. 1 THROUGH TAX INCREMENT FINANCING DISTRICT N0. 9 HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF FRIDLEY, MINNESOTA JUNE 26, 1989 This document, as amended, was proposed by: Casserly Molzahn & Associates, Inc. 215 South 11th Street Minneapolis, Minnesota 55403 612-342-2277 MUNICIPAL ACTION TAKEN Based upon the statutory authority described in the Modified Redevelopment Plan attached hereto, the public purpose findings by the Commissioners and for the purpose of fulfilling the Authority's redevelopment objectives as set forth in the Modified Redevelopment Plan, the Commissioners have created, established and designated Redevelopment Project No. 1 pursuant to and in accordance with the requirements of Minnesota Statutes, 5ections 469.001 through 469.047. The following municipal action was taken in connection therewith: May 15. 1979: The Redevelopment Plan for Center City was adopted by the City Council. A ril 6� 1981: The Redevelopment Plan for Moore Lake was adopted by the City Council. November 23. 1981: The Redevelopment Plan for North Area was adopted by the City Council. � AuQUSt 22, 1983: The Redevelopment Plan for Center City was modified by enlargement to include the project areas formerly included in the Redevelopment Plan for Moore Lake and the Redevelopment Plan for North Area and was redesignated as Redevelopment Project No. 1 by the City Council. December 19, 1983: The Redevelopment Plan for Redevelopment Project No. 1 was modified by the establishment of Tax Increment Financing District No. 4 within the project area. Februarv 27, 1984: The Redevelopment Plan for Redevelopment Project No. 1 was modified by the establishment of Tax Increment Financing District No. 5 within the project area. Februarv ,2� 1985: The Redevelopment Plan for Redevelopment Project No. 1 was modified to provide technical modifications for purpose af the proposed Fridley tax increment refunding. November 18. 1985: The Modified Redevelopment Plan for Redevelopment Project No. 1 was amended to reflect revised project costs to be incurred within Redevelopment Project No. 1, as set forth in Section I, Subsection 1.10 hereof. Sen�ember 22, 1986: The Modified Redevelopment Plan for Redevelopment Project No. 1 was amended to reflect revised project costs to be incurred within Redevelopment Project No. 1, as set forth in Section I, Subsection 1.10 hereof. December 22. 1986: The Modified Redevelopment Plan for Redevelopment Project No. 1 was amended to reflect revised project costs to be incurred within Redevelopment Project No. 1, as set forth in Section I, Subsection 1.10 hereof, June 26. 1989: The Modified Redevelopment Plan for Redevelopment Project No. 1 was amended to reflect increased project costs and increased geographic area within Redevelopment Project No. 1. The following municipal action was taken with regard to the Tax Increment Financing Districts comprising portions of Redevelopment Project No. 1: Tax Increment Financing District No. 1(Center City): May 15. 1979: Prior to the enactment of the Tax Increment Financing Act of 1979 effective August 1, 1979, a separate Tax Increment Financing Plan was not required by law but was included as a part of the originally adopted Redevelopment Plan for Center City. August 22, 1983: The Center City Redevelopment Area was modified by Resolution only (no hearing required) redesignatinq the Area as Tax Increment Financing District No. 1. Februarv 25. 1985: Tax Increment Financing District No. 1 was modified to facilitate the refunding of the general obligation tax increment bonds of the Authority. June 26. 1989: The Tax Increment Financing Plan for Tax Increment Financing District No. 1 was modified by the City Council to reflect increased project costs and increased geographic area within Redevelopment Project No. 1. Tax Increment Financing District No. 2(Moore Lake): Mav 4� 1981: The Tax Increment Financing Plan for Moore Lake Redevelopment Area was adopted by the City Council. AuQUSt 22, 1983: The Moore Lake Redevelopment Area was modified by Resolution only (no hearing required) redesignating the Area as Tax Increment Financing DistriCt No. 2. � Februarv 25, 1985: No. 2 was modified general obligation Authority. Tax Increment Financing District to facilitate the refunding of the tax increment bonds of the November 18, 1985: The Tax Increment Financing Plan for this Tax Increment Financing District was amended to reflect and incorporate additional public improvement costs anticipated to be incurred within Redevelopment Project No. 1 pursuant to the Modified Redevelopment Plan. Sentember 22, 1986: The Tax Increment Financing Plan for this Tax Increment Financing District was amended to reflect and incorporate additional public improvement costs anticipated to be incurred within Redevelopment Project No. 1 pursuant to the Modified Redevelopment Plan. December 22, 1986: The Tax Increment Financing Plan for this Tax Increment Financing District was amended to reflect and incorporate additional public improvement costs anticipated to be incurred within Redevelopment Project No. 1 pursuant to the Modified Redevelopment Plan. June 26. 1989: The Tax Increment Financing Plan for Tax Increment Financing District No. 2 was modified by the City Council to reflect increased project costs and increased geographic area within Redevelopment Project No. 1. Tax Increment Financing District No. 3(North Area): November 2� 1981: The Tax Increment Financing Plan for North Area Redevelopment Area was adopted by the City Council. December 14, 1981: The Tax Increment Financing Plan for North Area Redevelopment Area was modified and clarified by the City Council. AuQUSt 22. 1983: The North Area Redevelopment Area was modified by Resolution only (no hearing required) redesignating the Area as Tax Increment Financing DistriCt No. 3. Februarv 25. 1985: No. 3 was modified general obligation Authority. Tax Increment Financing District to facilitate the refunding of the tax increment bonds of the November 18. 1985: The Tax Increment Financing Plan for this Tax Increment Financing District was amended to reflect and incorporate additional public improvement costs anticipated to be incurred within Redevelopment Project No. 1 pursuant to the Modified Redevelopment Plan. Seatember 22, 1986: The Tax Increment Financing Plan for this Tax Increment Financing District was amended to reflect and incorporate additional public improvement costs anticipated to be incurred within Redevelopment Project No. 1 pursuant to the Modified Redevelopment Plan. December 22, 1986: The Tax Increment Financing Plan for this Tax Increment Financing District was amended to reflect and incorporate additional public improvement costs anticipated to be incurred within Redevelopment Project No. 1 pursuant to the Modified Redevelopment Plan. June 26. 1989: The Tax Increment Financinq Plan for Tax Increment Financing District No. 3 was modified by the City Council to reflect increased project costs and increased geographic area within Redevelopment Project No. 1. Tax Increment Financing District No. 4: December 19, 1983: The Tax Increment Financing Plan for Tax Increment Financing District No. 4 was adopted by the City Council. Februarv 25, 1985: The Tax Increment Financing Plan was incorporated into the Master Plan. November 18t 1985: The Tax Increment Financing Plan for this Tax Increment Financing District was amended to reflect and incorporate additional public improvement costs anticipated to be incurred within Redevelopment Project No. 1 pursuant to the Modified Redevelopment Plan. Sevtember 22t, 1986: The Tax Increment Financing Plan for this Tax Increment Financing District was amended ' to reflect and incorporate additional public improvement costs anticipated to be incurred within Redevelopment Project No. 1 pursuant to the Modified Redevelopment Plan. December 22. 1986: The Tax Increment Financing Plan for this Tax Increment Financing District was amended to reflect and incorporate additional public improvement costs anticipated to be incurred within Redevelopment Project No. 1 pursuant to the Modified Redevelopment Plan. June 26. 1989: The Tax Increment Financing Plan for Tax Increment Financing District No. 4 was modified by the City Council to reflect increased project costs and increased geographic area within Redevelopment Project No. 1. Tax Increment Financing District No. 5: Februarv 27, 1984: The Tax Increment Financing Plan for Tax Zncrement Financing District No. 5 was adopted by the City Council. Februarv 25. 1985: The Tax Increment Financing Plan was incorporated into the Master Plan. ' November 18, 1985: The Tax Increment Financing Plan for this Tax Increment Financing District was amended to reflect and incorporate additional public improvement costs anticipated to be incurred within Redevelopment Project No. 1 pursuant to the Modified Redevelopment Plan. September 2_2„ 1986: The Tax Increment Financing Plan for this Tax Increment Financing District was amended to reflect and incorporate additional public improvement costs anticipated to be incurred within Redevelopment Project No. 1 pursuant to the Modified Redevelopment Plan. December 22, 1986: The Tax increment Financing Plan for this Tax Increment Financing District was amended to reflect and incorporate additional public improvement costs anticipated to be incurred within Redevelopment Project No. 1 pursuant to the Modified Redevelopment Plan. June 26. 1989: The Tax Increment Financing Flan for Tax Increment Financing District No. 5 was modified by the City Council to reflect increased project costs and increased geographic area within Redevelopment Project No. 1. Tax Increment Financing District No. 6: November 18. 1985: The Tax Increment Financing Plan for Tax Increment Financing District No. 6 was adopted by the City Council. September 22, 1986: The Tax Increment Financing Plan for this Tax Increment Financing District was amended to reflect and incorporate additional public improvement costs anticipated to be incurred within Redevelopment Project No. 1 pursuant to the Modified Redevelopment Plan. December 22. 1986: The Tax Increment Financing Plan for this Tax Increment Financing District was amended to reflect and incorporate additional public improvement costs anticipated to be incurred within Redevelopment Project No. 1 pursuant to the Modified Redevelopment Plan. June 26, 1989: The Tax Increment Financing Plan for Tax Increment Financing District No. 6 was modified by the City Council to reflect increased project costs and increased geographic area within Redevelopment Project No. 1. Tax Increment Financing District No. 7: September 22. 1986: The Tax Increment Financing Plan for this Tax Increment Financing District was approved by the Fridley City Council. December 22, 1986: The Tax Increment Financing Plan for this Tax Increment Financing District was amended to reflect and incorporate additional public improvement costs anticipated to be incurred within Redevelopment Project No. 1 pursuant to the Modified Redevelopment Plan. June 26, 1989: The Tax Increment Financing Plan for Tax Increment Financing District No. 7 was modified by the City Council to reflect increased project costs and increased geographic area within Redevelopment Project NO. 1. Tax Increment Financing District No. 8: Seotember 22. 1986: The Tax Increment Financing Plan for this Tax Increment Financing District was approved by the Fridley City Council. December 22. 1986: The Tax Increment Financing Plan for this Tax Increment Financing District was amended to reflect and incorporate additional public improvement costs anticipated to be incurred within Redevelopment Project No. 1 pursuant to the Modified Redevelopment Plan. June 2� 1989: The Tax Increment Financing Plan for Tax Increment Financing District No. 8 was modified by the City Council to reflect increased project costs and increased geographic area within Redevelopment Project No. 1. Tax Increment Financing District No. 9(Old Central/Onan): June 26. 1989: The Tax Increment Financing Plan for Tax Increment Financing District No. 9 was adopted by the City Council. SECTION I MODIFIED REDEVELOPMENT PLAN FOR REDEVELOPMENT PROJECT NO. 1 Subsection 1.1. Definitions. The terms defined below shall, for purposes of this Modified Redevelopment Plan and attached Tax Increment Financing Plans, have the meanings herein specified, unless the context otherwise specifically requires: "Authoritv" means the Housing and Redevelopment Authority of the City of Fridley. "City" means the City of Fridley, a municipal corporation and political subdivision of the State of Minnesota, subject to the legal requirements of the City's Charter and in Minnesota Statutes, Chapter 410 relating to Home Rule Charter Cities. "Comprehensive Plan" means the City's comprehensive plan submitted to the Metropolitan Council pursuant to Minnesota Statutes, Section 473.173, which contains the objectives, policies, standards and programs to guide public and private land use, development, redevelopment and preservation for all lands and water within the City through 1990. "Council" means the City Council of the City. "Countv" means the county of Anoka, Minnesota. "HousinQ and Redevelovment Act" means the statutory provisions of Minnesota Statutes, Sections 469.001 through 469.047, inclusive, as amended and supplemented from time to time. "Housina and Redevelo�ment Authoritv" means a housing and redevelopment authority created or authorized to be created by Minnesota Statutes, Sections 469.001 to 469.047. "Master Plan" means the Modified Redevelopment Plan for Redevelopment Project No. 1 and the Tax Increment Financing Plans for all Tax Increment Financing Districts within. "Modified RedeveloQment Plan" means the plan approved and adopted by the Authority and the City for the Redevelopment Plan as defined in Minnesota Statutes, Section 469.002, Subdivision 16. 1 - 1 � "Proiect" means Redevelopment Project No. 1, the public improvements and facilities to be constructed within Redevelopment Project No. 1, as more fully described in Section I, Subsection 1.9. of the Modified Redevelopment Plan. "Proiect Area" means the real property located within the geographic boundaries of Redevelopment Project No. 1. "Public Costs" means the costs eligible to be financed by tax increments under Minnesota Statutes, Section 469.176, Subdivision 4. "Redeveloomer} Proiect No. 1" means the Authority's Redevelopment Pro �.�t as defined in Minnesota Statutes, Section 469.002, Subdivision 14. "Reserve ProQram" means funding of a reserve program as authorized by Minnesota Statutes, Section 469.176, Subdivision 4. "Special Assessment Bonds" means the special assessment bonds issued by the City to finance certain public improvements within Redevelopment Project No. 1 pursuant to the Modified Redevelopment Plan. The term "Special Assessment Bonds" shall also include any obligations issued to refund the Special Assessment Bonds. "State" means the State of Minnesota. "Tax Increment Bonds" means the general obligation tax increment bonds to be issued by the City to finance the public costs associated with Redevelopment Project No. 1 as stated in the Modified Redevelopment Plan and in the Tax increment Financing Plans for the Tax Increment Financing Districts within Redevelopment Project No. 1. The term "Tax Increment Bonds" shall also include any obligations issued to refund the Tax Increcnent Bonds . "Tax Increment Financina Act" means the statutory provisions of Minnesota Statutes, Sections 469.174 through 469.179, inclusive, as amended and supplemented from time to time. "Tax Increment Financina Aareement" means the statutorily required document pursuant to Minnesota Statutes, Section 469.042, Subdivision 4 constituting a pledge for the payment of bonds issued by the City by written agreement on behalf of the Authority and filed with the County Auditor. 1 - 2 "Tax Increment Financina District" means any tax increment financing district presently established or to be established in the future in Redevelopment Project No. 1. "Tax Increment Financina Plan"-means the respective Tax Increment Financing Plan for each Tax Increment Financing District located within the Project Area. (Subdivision 1.1. was adopted as a modification to the Redevelopment Plan on August 22, 1983.) Subsection 1.2. Introduction. The City of Fridley is located on the east bank of the Mississippi River just north of Minneapolis. Including Minneapolis, Fridley borders seven municipalities: Columbia Heights, Mounds View, New Brighton, Spring Lake Park, Blaine, and Coon Rapids. Fridley is located in the carridor of Anoka County and serves as the passageway between Minneapolis and the North Central suburbs, and is an important center of development in Anoka County. Fridley is a first ring Minneapolis suburb and as such developed initially as a"bedroom community" with only neighborhood convenience centers along major access routes. Fridley failed to develop a commercial concentration because no areas were planned that would support a large diversified center. Consequently, Fridley is served by regional centers outside its boundaries and is served with scattered and strip commercial developments. Center City (Tax Increment Financing District No. 1) is such a strip commercial development. . The City of Fridley has a long standing concern with its commercial developmen�. Immediately after the destructive tornado of 1965, the City began an effort to redevelop. This 1965 redevelopment effort was not implemented. Since that time, very little development has taken place within the commercial area. The important aspect of recalling this 1965 effort is to illustrate that the redevelopment project now being undertaken is an outgrowth of many past decisions and is not a reaction to immediate problems. Subsection 1.3. Statement and FindinQ of Public Purpose. The Commissioners (the "Commissioners") of the Housing and Redevelopment Authority (the "Authority") in and for the City of Fridley, Minnesota (the "City") have determined that there is a need for development and redevelopment within the corporate limits of the City to provide employment opportunities, to improve the tax base and to improve the general economy of the 1 - 3 City and the State of Minnesota. It is found that there are certain parcels of property within the City which are potentially more useful, productive and valuable than is being realized under existing conditions, and, therefore, are not contributing to the tax base of the City to their full potential. The Commissioners have determined that said parcels of property are deemed to be deteriorated areas, which means any area, including slum areas with buildings or improvements which, by reason of dilapidation, obsolescence, overcrowding, faulty arrangement or design, lack of ventilation, light, and sanitary facilities, excessive land coverage or deleterious land use or obsolete layout, or any combination of these or other factors are detrimental to the safely, health, morals, or welfare of the community, pursuant to Minnesota Statutes, Section 469.002, Subdivision 11. SPECIFIC FINDINGS FOR REDEVELOPMENT PROJECT NO. 1, INCLUDED WITHIN TAX INCREMENT FINANCING DISTRICT N0. 1(CENTER CITY): 1. There is a severe traffic safety problem at two major traffic intersections within Center City. University Avenue at the intersection of Mississippi Street has an average daily traffic count of 29,485 vehicles and Mississippi Street at the same intersection has an average daily traffic count of 8,500 vehicles. At both the University Avenue and 61st Street intersections, the Fridley Police and Safety Department has recorded an unusually high incident of accidents to both property and life. 2. The Center City area due to faulty planning has land areas of vacant land that are stagnant and under- utilized. Specifically, that land lying north of 10,000 Auto Parts has not been commercially developed or intensely developed due to severe access and traffic problems, small land area and its location abutting a single family residen�ial area. This land area has had several proposals for development but the above three factors have caused each proposal to fail. • Additionally, vacant land lying south of the Rice Creek Shopping Center is vacant due to poor traffic circulation and faulty planning that has severely limited frontage exposure and access, and its location abutting a residential neighborhood. 3. Existing development of the Christianson Shopping Center is blighted and deteriorated in the following �reas. The Center has insufficient parking by both 1 - 4 City code and practical experience. The parking is poorly designed and must back into a highly traveled service road. The Center is in general disrepair, and lacks land area for sound commercial expansion. This Center occupies a prime commercial site on the southeast intersection of University and Mississippi. This prime area is poorly utilized, poorly designed, in general disrepair, and causes poor commercial iana utilization in a prime community location. 4. Immediately adjacent to the Christenson Shopping Center is a warehouse land use. This warehouse is owned and operated by Northwestern Bell Telephone Company. The warehouse use requires outside storage of supplies and equipment and utilizes a large land area within a prime commercial and employment area of the City. This use also contributes to a general appearance of blight and unkempt conditions. 5. The Fridley Shopping Center is also blighted by the fact of poor design, poor land subdivision and zoning practices. Adjacent to the Fridley Shopping Center are two single family homes. This site restriction hampers orderly and economic expansion of the commercial area. Sufficient land area for modern day commercial expansion is limited, severe conflicting land uses are present, and these factors lead to under-utilized and poorly utilized commercial land development within a prime area of the City. 6. Holly Center located in the northwest quadrant of University and Mississippi intersection is blighted and suffers from a safety hazard due to poor traffic design. This Center according to a business survey conducted in March, 1979, is financially harmed due to traffic hazards and accessibility. The survey showed over 90 percent of the businesses believe that poor traffic circulation has negatively harmed the economic viability of this Center. Further, Holly Center is poorly designed in terms of traffic circulation within its own parking lot and egress and ingress onto City streets. This traffic situation and development design is a safety hazard to property and persons as documented by traffic accident counts and causes an under-utilization of prime commercial land in the City. 1 - 5 7. In a business survey conducted during March, 1979, the business respondents feel, as does the City, that Center City is blighted by the fact of unkempt conditions, high turnover of operating businesses and lack of pedestrian walking ways. These conditions have been verified through photographs and a business survey. These conditions cause one of the few prime commercial areas of the City to be under-utilized, and to restrict employment opportunities within the City. SPECIFIC FINDINGS FOR REDEVELOPMENT PROJECT N0. 1, INCLUDED WITHIN TAX INCREMENT FINANCING DISTRICT NO. 2(MOORE LAKE): AREA 1: 1. There is a severe �raffic safety problem at Highway 65 and Rice Creek Road. This intersection is serviced by inadequate frontage roads to the commercial strip centers on both sides of the highway. This intersection presently carries almost 35•,000 vehicles per day and generates a great deal of cross traffic flow through the service drives. The Public Safety Department has recorded an unusually high incident of accidents to both life and property. 2. The Shorewood Shopping Center, Sears Building and Shorewood Inn, is blighted and suffers from safety hazards due to poor traffic design. The Center is serviced by the Rice Creek Road - Highway 65 intersection and service roads. This creates turning problems within the intersection stacking area in order to enter the parking facilities. Lack of parking areas at the Shorewood Inn creates congestion on the service road. Further, Shorewood Shopping Center is poorly designed in terms of traffic circulation within its own parking lot and egress and ingress onto City streets. 3. The land area south and east of the shopping center is largely vacant and under-utilized due to poor soil conditions. This area is the drainage inlet to Moore Lake which is primarily unstable soil for development. This is the primary purpose that this prime location property is not developed. This property is blighted because of the cost to make this land developable. In addition to the soil problems, the City will be initiating a restoration project for Moore Lake which will assess this property with necessary costs of the project. 1 - 6 4. The shogping area to the west of Highway 65 is blighted due to inadequate design, poor land subdivision and zoning practices. There are tracts of vacant land which are unaccessible due to poor layout of strip commercial. The existing traffic patterns create hazardous conditions due to poor parking egress and street design. The vacant land requires substantial land costs due to poor soil conditions. AREA 2: 1. This area is primarily under-utilized residential which is blighted due to poor planning, subdivision and zoning practices. The existing structures are small structures on large land tracts. Based on present land subdivision regulation, approximately S0� of the land area would be vacant. 2. The land area just north of Rice Creek Road contains large areas of poor soil conditions as part of the Moore Lake Drainage Basin. Substantial expenditures will be needed in this area to allow for developments. 3. There also is a substantial number of structures which are blighted and require major rehabilitation or removal due to unsafe housing conditions. AREA 3: 1. There is a severe traffic safety problem at Highway 65 and Old Central. This intersection presently carries approximately 44,000 vehicles per day and has a confluence of 4 separate collectors (Highway 65, Central Avenue, Moore Lake Drive, Hathaway Lane) and is considered a safety hazard due to poor traffic design. The Public Safety Department has recorded an unusually high incident of accidents to both life and property. 2. The area adjacent to Hillwind Road is a large tract of undeveloped land which is blighted due to substantial development costs to correct poor soil conditions. This area is also part of the Moore Lake Drainage Basin and will require renovation as part of the Moore Lake Restoration Project. 1 - 7 Y 3. The area west of Highway 65 is blighted due to under- utilization of prime commercial land. The area is serviced by poor access through the intersection described in #1 above, which requires substantial modification. This area needs public assistance to encourage development because the present land use has resulted in a stagnant and unproductive condition of land. This land has the potential for contributing to the economic development and general welfare of the City. SPECIFIC FINDINGS FOR REDEVELOPMENT PROJECT NO. 1, INCLUDED WITHIN TAX INCREMENT FINANCING DISTRICT.NO. 3(NORTH AREA): This Tax Increment Financing District is eligible as a publicly assisted redevelopment district because the district is blighted by virtue of conditions of unusual and difficult physical characteristics of the ground which has left the area primarily undeveloped. The entire district is subject to unusually high water table levels with unstable soil conditions which has prevented the normal development of the land by private enterprise and has resulted in a stagnant and unproductive condition of this prime location property, potentially useful and valuable for contributing to the public health, safety and general welfare. The Commissioners have further determined that the establishment of this redevelopment project will provide the Authority and the City with the ability to achieve certain public purpose goals not otherwise obtainable in the foreseeable future �without the iritervention of the Authority and the City in the normal development process. The public purpose goals include: the restoration and improvement of the tax base and the tax revenue generating capacity of the redevelopment project; increased employment opportunities; the realization of comprehensive planning goals; the acquisition of blighted, undeveloped or open areas and land or space which is vacant, unused, underused or inappropriately used which has prevented normal development of the land by private enterprise and has resulted in a stagnant and unproductive condition of land potentially useful and valuable, for the purpose of removing, preventing or reducing blight, blighting factors, or the causes of blight; the elimination of unsafe traffic conditions and the reduction of traffic hazards; and the revitalization of the property within the redevelopment project to create an attractive, comfortable, safe, convenient and efficient area for industrial, commercial and related uses. 1 - 8 Subsection 1.4. StatutQrv Authoritv. THE HOUSING AND REDEVELOPMENT ACT. The Authority has determined that it is desirable and in the public interest to designate a specific area within the corporate limits of the City as Redevelopment Project No. 1("Redevelopment Project No. 1"), and to establish, develop and administer a redevelopment plan (the "Redevelopment Plan") for Redevelopment Project No. 1, pursuant to the provisions of Minnesota Statutes, Sections 469.001 through 469.047, inclusive, as amended and supplemented from time to time (the "Housing and Redevelopment Act"). - The financing of certain public improvements to be made within Redevelopment Project No. 1 shall be accomplished, in part, through the use of funds which may be available to the Authority from any source, including funds furnished to the Authority by the City which may include the proceeds of bonds issued by �he City, pursuant to Section 469.041(9) of the Housing and Redevelopment Act, to pay all or any part of the activities of the Authority authorized by Minnesota Statutes, Section 469.012, Subdivision 1, Clause 7. THE MINNESOTA TAX INCREMENT FINANCING ACT. Minnesota Statutes, Sections 469.174 through 469.179, inclusive, as amended and supplemented from time to time (the "Tax Increment Financing Act"), provides the procedure for the establishment of tax increment financing districts for the use of tax increment financing authorized by the Housing and Redevelopment Act described above for the funding of qualified public activities and improvements. The Tax Increment Financing Act authorizes the establishment within any tax increment financing district within Redevelopment Project No. 1 of one or more of the following types of tax increment financing districts: (i) a redevelopment district; (ii) a housing district; and/or (iii) an economic development district. The requirements for establishing each of the above are set forth in Section 469.174, Subdivisions 10, 11 and 12, respectively, of the Tax Increment Financing Act. The Tax Increment Financing Act also designates for each of the above types'of tax increment financing districts the limitations and requirements that apply to activities and public improvements which can be financed for each type of tax increment financing district. The modification of�each Tax Increment Financing Plan shall be governed by the requirements of Section 469.175, Subdivision 4, of the Tax Increment Financing Act, and the City Council, by this Modified Redevelopment Plan, hereby establishes the last 1 - 9 subsection of each Tax Increment Financing Plan for each Tax Increment Financing Distric� as the subsection in which any modifications to the Tax Increment Financing Plan are stated. Appendix B of this Modified Redevelopment Plan is hereby designated as the place where copies of each resolution passed by the Council modifying in any manner the Redevelopment Plan or any Tax Increment Financing Plan shall be located and shall become a part of this Modified Redevelopment Plan. Subsection 1.5. Statement of Obiectives. The Authority and the City seek to achieve the following objectives through the implementation of the Modified Redevelopment Plan: a. To encourage, promote and publicly assist new commercial or housing developments through the use of tax increment financing on undeveloped and under- utilized property within Redevelopment Project No. 1. Such assistance may include land "write down" costs, land acquisition and parcel assemblage to provide large land tracts £or development, property acquisition and clearance for new developments, property acquisition and clearance of non-conforming land uses that are near new developments, financial assistance in the provision of public utilities, financial assistance for the provision of necessary site improvements, and such other assistance that is in conformance with State law; b. To increase employment opportunities and employment alternatives through an active program of commercial expansion and development; c. To designate through official land use controls, areas best suited for commercial, residential and industrial development; d. To increase the tax base of the City through cooperation and assistance to commercial and housing developers with consideration of full utilization of under-utilized residential, commercial and industrial properties; e. To provide a plan and continued planning for orderly commercial expansion which allows for the most economical utilization of municipal services; 1 - 10 f. To provide development and redevelopment opportunities that will permit a variety of retail office, housing and other commercial opportunities throughout Redevelopment Project No. 1 which would effectively serve the housing and commercial needs of the City; g. To maintain a healthy and safe environment throughout Redevelopment Project No. 1; h. To provide various forms of financial assistance that are deemed appropriate, legal and acceptable to private enterprise in their development efforts such as industrial revenue bonding, tax exempt municipal revenue bonds, or state and federal loans and grant monies; i. To promote sound land use development procedures including area design standards, landscaping, and lighting standards, traffic circulation and parking standards, architectural review of new developments, �nd such other standards that may be developed. j. To continually update development and redevelopment plans, design standards and other official controls that will promote sound development, redevelopment, health and safety; k. To establish a specific land redevelopment parcel plan as the redevelopment efforts are begun; l. To stimulate private investment to stabilize and properly balance the housing supply; 5ubsection 1.6. Boundaries � Redevelo�ment Proiect No. 1. The property which comprises Redevelopment Project No. 1 is legally described in Exhibit I-A of the Modified Redevelopment Plan. Subsection 1.7. Boundarv Maps of Redevelonment Proiect No. 1_ Maps showing the boundaries of Redevelopment Project No. 1 are attached hereto as Exhibit I-B. Subsection 1.8. Parcels � be AcQUired in Whole or in Part Within Redevelo�ment Proiect No. 1. It has been determined by the Authority and the City that certain property acquisitions will be necessary within Redevelopment Project No. 1. The properties to be acquired will be determined on an individual 1 - 11 basis with the development of any Tax Increment Financing Districts within Redevelopment Praject No. 1 during the redevelopment process. The redevelopment process will include responding to private developers' proposals for land needs, making parcels available for development that is of sufficient size to accommodate development, the elimination of substandard structures, the removal of blighting conditions, the removal of non-conforming land uses when such removal meets the goals and objectives of the Modified Redevelopment Plan for Redevelopment Project No. 1 and such other factors that are necessary to accomplish the overall redevelopment goals of Redevelopment Project No. 1. The Modified Redevelopment Plan for Redevelopment Project No. 1 envisions and establishes a need for property acquisition. The Modified Redevelopment Plan does not establish specific properties, but rather allows for that determination to be made by the Authority during the implementation of the Modified Redevelopment Plan. The determination of properties to be acquired shall be based on the following goals or such other goals that may be added to this Modified Redevelopment Plan: 1. Structures that are determined by the City's Building Inspector to be structurally substandard; 2. Land and/or structures that will permit land development and redevelopment parcels to be large enough to accommodate new developments and corresponding parking requirements; 3. Land and/or structures that are needed to make necessary public improvements in a proper relationship to the projected project; 4. Properties that are non-conforming land uses when such an acquisition will benefit the overall redevelopment goals. This land and property acquisition plan is intended to give flexibility of decision making to the Authority and the City during the implementation phase of the Modified Redevelopment Plan for Redevelopment Project No. 1. The land acquisition plan is intended to accomplish the overall goals of redeveloping the property in and adjacent to Redevelopment Project No. 1 into a viable living/shopping/working area of the City. It is the intent of the Authority that no property shal� be acquired until a Tax Increment Financing Plan has been approved and adopted. 1 - 12 Subsection 1.9. Estimated Public Imarovements osts and Supportive Date. The estimated costs of the public improvements to be made within Redevelopment Project No. 1 and financed by tax increments derived from tax increment financing districts within Redevelopment Project No. 1 are as follows: TAX INCREMENT FINANCING DISTRICT N0. 1 (CENTER CITY) $625,000 GENERAL OBLIGATTON TAX INCREMENT REDEVELOPMENT BONDS OF 1982, DATED JUNE 21, 1982 Contract Costs . $ 588,000 Legal Fiscal and Administrative 25,000 Allowance for Bond Discount 12,000 TOTAL BOND ISSUE $ 625,000 $600,000 GENERAL OBLIGATION TAX INCREMENT REDEVELOPMENT BONDS OF 1982, SERIES II (HRA-CENTER CITY OFFICE PROJECT), DATED SEPTEMBER 27, 1982 Land Acquisition and Cost $ 498,858 Legal, Fiscal, Administrative Costs 12,000 Less: 1984 Tax Increment Receipt (23,033) Plus: Capitalized Debt Service (Offset by Investment Income 100,425 Discount Allowance _ 11,750 TOTAL BOND ISSUE $ 600,000 $2,200,000 GENERAL OBLIGATION TAX INCREMENT REDEVELOPMENT BONDS OF 1981, DATED DECEMBER 8, 1980 Land Acquisition Costs $2,123,863 Legal, Fiscal, Administrative Costs 33,000 Allowance for Bond Discount 43,137 TOTAL BOND ISSUE $2,200,000 1 - 13 r TAX INCREMENT FZNANCING DISTRICT NO. 2 (MOORE LAKE) To date General Obligation Tax Increment Bonds have not been issued for Tax Increment Financing District No. 2. Without excluding any other type of available financing, it is the general intent that Tax Increment Financing District No. 2 (Moore Lake) be financed by the use of Tax Increment Financing, General Obligation Bonds or Tax Increment Financing Revenue Bonds, which shall require subsequent City Council approval pursuant to Minnesota Statutes, Section 273.71. The Authority and the City shall insure that all aspects of this project are in compliance with state law. The actual summary of projected expenditures and revenues as of yet cannot be specifically determined. Projected expenditures cannot be specifically determined until final determinations are made, separately by project, in the Redevelopment Plan. When final decisions are made regarding property acquisitions, the Authority and the City shall determine specific revenue and expenditure projections for that phase of the Redevelopment Plan. TAX INCREMENT FINANCING DISTRICT NO. 3 (NORTH AREA) Estimated Cost of Phase I Property Preparation Assistance Public Improvement Street/Utility Drainage District Improvement Administration 10$ Overhead Estimated Cost of Phase I Project Bonded Indebtedness Capitalized Interest Costs Total Bonded Indebtedness 1 - 14 $ 985,000 100,000 54,250 113.925 $1,253,175 $1,253,175 600,000 $1,853,175 Most Recent Assessed Value/Phase I Estimated Captured Assessed Value of Phase I at Project Completion Phase II, III, IV and V FinanCina Plan $ 164,360 $3,908,853 Without excluding any other type of available financing, it is the general intent that Phase II, III, IV and V shall be financed by use of tax increment funds from the entire district. The actual summary of specified expenditures for Phases II through V as yet cannot be specifically determined until final decisions are made by the Housing and Redevelopment Authority and the City Council regarding the specific development for each phase. When final determination is made on property acquisition, the Housing and Redevelopment Authority shall determine specific revenue and expenditure projections for that phase of the tax increment financing plan and process it as a modification to the plan. The following is the general development for each of Phases II through V with an indication of the most recent assessed valuation. Included is also a very general anticipated captured assessed value at the completion of all phases in the district. It is the intent of the Housing and Redevelopment Authority to promote industrial/commercial development in Phases II, III, IV and V, which will be consistent to existing development in the general area and the overall City Comprehensive Plan. Public improvements to these phases will include soil correction work, drainage district improvement costs, intersection and street improvement to adequately handle traffic general, utility and public right-of-way improvements. AS MODIFIED JUNE 26, 1989 (TAX INCREMENT FINANCING DZSTRICT N0. 9 (OLD CENTRAL/ONAN) Land Acquisition Storm Sewer Sanitary Sewer Street Improvements Soil Correction/Site Preparation Ponding 1 - 15 $5,026,000 525,000 307,000 435,000 1,600,000 310,U00 Public Trails/Recreational Improvements/Open Space Parking Street Lighting Demolition Relocation ArchitecturaliEngineering Fees Administration Fees Total Maximum Estimated Total Bonded Indebtedness* 325,000 450,000 200,000 500,000 500,000 500,000 400.000 $11,078,000 $14,401,400 *This amount includes capitalized interest in an amount sufficient to pay interest on the bonds from the date of issue until the date of collection of sufficient tax increment revenues to meet scheduled interest payments when due. Subsection 1.10. Public Tmprovements and Facilities Within Redevelopment Proiect No. 1. Publicly financed improvements within Redevelopment Project No. 1 include but are not limited to: a. The acquisition and sale and/or lease of the parcels identified in Subsection 1.7, hereof; b. Soil corrections, including excavation and backfill; c. Installation and/or upgrading of utilities and other public improvements; d. Development of proper traffic circulation patterns and improved ingress and egress on public and private roadways; e. f. Funding of the Reserve Program; and Other authorized uses as provided by State law. (The following amendment of Subsection 1.10 to the Modified Redevelopment Plan was approved November 18, 1985.) Additional public improvement costs to be incurred within Redevelopment Project No. 1 and to be financed by tax increments derived from all tax increment financing districts within Redevelopment Project No. 1 are estimated to be: 1 - 16 Land Acquisition Streets, Intersections, Walkways and Lighting Parking Facilities Soil Correction, Drainage and Landscaping Engineering, Design and Planning, Legal, Fiscal, Bond Issuance Expenses and Discount and Miscellaneous Contingency Bond Debt Service Reserves Capitalized Bond Interest Total Project Costs Maximum Bonded Indebtedness $3,500,000 4,100,000 1,500,000 2,300,000 1,050,000 300,000 2,612,000 3,138.000 $18,500,000 $18,500,000 •(The following amendment of Subsection 1.10 hereof was approved on September 22, 1986.) Additional public improvement costs to be incurred within Redevelopment Project No. 1 and to be financed by tax increments derived from all tax increment financing districts within Redevelopment Project N0. 1 are estimated to be: Land Acquisi�ion/Writedown Costs $ 100,000 (The following amendment of Subsection 1.10 hereof was approved on December 22, 1986.) Additional public improvement costs to be incurred within Redevelopment Project No. 1 and to be financed by tax increments derived from all tax increment financing districts within Redevelopment Project No. 1 are estimated to be: University Avenue/84th Street Housing Project: Land Acquisition/Improvement/Writedown Costs Capitalized Interest Bond Discount Issuance Costs and Contingency Total Additional Project Costs and/or Bonded Indebtedness Maximum Additional Administrative Costs 1 - 17 $ 850,000 290,091 23,330 26,579 $1,190,000 $ 94,000 Subsection 1.11. Environmental Controls. The proposed development in Redevelopment Project No. 1 does not present significant environmental concerns. All municipal actions, public improvements and private development shall be carried out in a manner consistent with existing environmental standards. Subsection 1.12. Proposed Reuse gf Pro�ertv. The public improvements needed to bring about development and redevelopment as set forth in Subsections 1.9. and 1.1Q, above include acquisition and sale of land, relocation of existing public improvements, demolition and site improvements. The Modified Redevelopment Plan does not contemplate the acquisition of private property until such time as a private developer presents an economically feasible program for the reuse of that property. Proposals for the reuse of private property must be within the framework of the above cited goals and objectives of the Authority and the City. Acquisition and sale of any private property by the Authority shall be subject to a binding contract with the purchaser incorporating appropriate restrictions regarding the reuse and redevelopment of the property. Before approving any such contract or sale, the Authority shall be satisfied that adequate funds will be available to repay the public costs associated with the proposed acquisition. Subsection 1.13. Administration and Maintenance of Redevelopment Proiect No. 1. Maintenance and operation of the public improvements in Redevelopment Project No. 1 will be the responsibility of the Executive Director of the Authority (the "Administrator"). The Administrator will administer Redevelopment Project- No. 1 pursuant to the provisions of the Housing and Redevelopment Act; provided, however, that such powers may only be exercised at the direction of the Authority. No action taken by the Administrator pursuant to the above-mentioned powers shall be effective without authorization by the Authority. Subsection 1.14. Rehabilitation. Owners of properties within Redevelopment Project No. 1 will be encouraged to rehabilitate their properties to conforn with the applicable state and local codes and ordinances, as well as any design standards. Owners of properties who purchase property within Redevelopment Project No. 1 from the Authority may be required to rehabilitate their 1 - 18 properties as a condition of the sale of the land. The Authority will provide such rehabilitation assistance as may be available from federal,.state or local sources. Subsection 1.15. Relocation. The Authority accepts its responsibility for providing for relocation pursuant to Minnesota Statutes, Section 469.030. 1 - 19 r � ! LXSZHZT I-�-1 ygGAL OLSCRI?TIOV OF C:NTF.R CiTY RZD:VELOP��lEN: PROJE�: AREA r' ' o des�zibe� rooer:y shell consti:u:e the lan� ?he tollovin_ P j=�a included vithin the �ente: Gi�y Redevelopment project. 2his �rea �Y ��n�ed by adding to or deletinq land ar�a in the same �ann�= used to establish this Tax Iac:e�ent Fina,ciag Dis�:ic:. TRe Redcvelopt-ent �lan prop�ses the inclusion o! thc fo1lo�+ing dcscribed real estate: Lots 5, 6. 7, 8. 9. 10. Block 12. Lo�ell Addi;ion t� Fridley Park. �oZ 18. Block S, Rice Creek Plara South A�dition. • � Lots 13. i4. 15. 16. 61eck 3, Rice Creek Terrace P1at 2. �ots 1p. 11, 12. Blo:� 2. Rice Creer Terrace Plat l. . Lots l. 2, 3. 81ock 1, Sylvtn liills Plat 5. � L�t j� glock 1. Sylva� Ilills P1it 6. , Lot 1, 91ock i, Sylvan tlills P1at �, 8locks 1. 2, 3, �. 5. Rees hddition Lo fridley p�rk Lots 1, 2. 3, 4, 5. Auditor's Subdivision No. 59. 610:1: 1, San�y 7err4ce, Blotl:s 1, 2, t:or::�� Addition to fridlcy Park, and, That �arL of ;hE �°:t 1/2 of the ESarLhessL '!!4 of the South«tst - �/4 of Section 14, and that parL of Rees l.ddiLion ta Fridlcy �irt tt�d vacsted �Tler in said subdirSston �dtscr{hed as tollor+�: 1eq1�+#�g •L ; ooint � Lht RbrLherlr lint of . •• laid Yest 1/� o` the Rortheast �/4 oi So�thKest 1/{. � distnnce of 30 feet L'esi of the i:ortheast corner thereof, Lhence SouLh and �ni�l �rith Lhc E�si lin! Lhers�f; s id�stsnce �f 194 tret'seore •�r -'�e _3outherly l i� �1ut 1,'�'�ott 2, 'Re�s 1�ddt tio� �p T~ �y, sa�d point'��'i��'$�"e�oii�ast torner � said Lot �; thence kesterly along thc Sovthzrly line of said Lot 1 and �ot 22�ine�to said Morth 1 in f CthencreEast�totthenpoir,+t�ofe� with fast � beginning, and, . ihat part of the kest 112 of the East 1i2 of the South+rest 1/4 described is foilo�s: Co�=ncing ai a point 394 fect East of the of tt+e rarLfn+est terner o` theEast lj2 of the South:�:est 1(� of kct�on tt; thence South 8 rods and 10 feet east; the�ce Eas:erly 10 trods; tiKnce itorLh 8 rods and �0 fcet, Lhence besterly l0 rods � place of beginning, except the parcel described directly above. and. Lots 1 Lhrough 24. Black 1, A1 ice E'a11 Add ��ion, and A11 thai ?art ef the f�st li2 of the E�st 1/2 of the Soutk::est 1!4 oi Stttion �4. descrihed as Deginning at the t�orthti,resi carner _ tl�ereof, �f�214afeet'�thence South andeparallel �ithhthetNest i distance o . � . . I-A-la �.— 0 line of said East 1/2 of the East 1l2 of the Sou�hvest _ 1/q tcr a di�:ance of 368 feet, thence West pa:allel '� vith said North liae fez a distance of 214 feet to sai� West line; thence North along ��est said line a distaace o� 368 ftet to ths point of beqinning. � .,.. , I-�-lb tAt71b1T 1�A�� . LFG:�I DEStRIPTION — TRe folla+tn9 described property sh�ll tonstitute the ��nd area tncludeC 'thln the Moon l�ke Rcdevelopmeni projcct Area. Tf�is �ree iaay be icenae� _� iddi�g or deleLing land arta in tht s�me asanner Vsed to tstablish this _ � District. - � T?�e Rrdevelopn,ent P1an proposts tht intlusion ot Ll�e tollowing descri�ed rtal estate: SEC. 2a _.__� parel 2400 • The North 250 fr�t ot the Ens: 83� feet of Governr�nt Lot 1, Saction 24, T-30. R-?4� except that par; of saiC Governr.,ent Lot 1 lyino Eest of t��nty State Aid High�ay ho. 35 which ts alsa knorrn as Central Avenu� N.E. tn alnoka County, Mirnesota, and except that par; of Gevern�ent Lot 1�escribed as follows: Ba9inning �t an intersectiop of the northwtsLerly right-of-►ray '.':r as Wunty Statt �td Hiqhway No. 35 �Tsa knoxn �s Cen;ral Avnue,X.E. and :: :::orh line of said Section 24; thence Yest ilong said North line to � point :`:at is 830 feet tiest of the northeast eorne* of 6overntaent Lot l of said Section Z4; thence South on a ltne para11e1 ta the £ut iine of said Governr:�nL Lpt 1 ta � point 2S0 feet Sovth of Lhe Nortt� ltne o� said Se�tion; tt�enc! Etst ind paral�el ta the said North line a distance ot 239.5 feei, thence North at righL angle to the last described line..� distznce of ]00 teet; thence Enst and paralle� ta tt�t said North line tc the said Northwesterly right-of-way ltne ot County Stnte aid Highway No. 35 which is also kna+n �s Central Avenue H.E.; thence nor:heast�rly ��g said right•of-ray line to the poinL of beginaing. � Paresl 2t20 - All that part of the Northeast Quarter of tAe Nofthr+est Quarter of L on 4. T-30, R•24. described as follows: iegianing at an intersection of �orthrr+esLer7y right-of-way line ot Central Ilvenue - tormer�y Htghway Mo. 6� - and lbrth line of Section 24; thencr �lest along said North liae to a point tha; is 830 feet r+est oi the northwest carner of the tbrLhaest Quartrr of said Settion 24; thence South on � line paralle] to East 1i�e of t#u Northr+est Quarter ta a point 254 teet South of �orLh tine of Section; thencr East :nd para11e1 Lc said Korth line � distince of 239.5 fest; thence North �t right angles to iast discri�tion a distant� of 100 fett; tf�e�ct East and parallel ta said Nor.th line to sai� north�es:E-;; �i9ht-of-vray lt�e; thence northeasterly alonp said right-of•way line Lo point of beginning, except thaL par: tor highMray. Parcel 2:EO - South 100 feet of Korth 35a fest of 6cvernment Lot 1, Se=:ia� 2�, -30, R-24, excrpt ��at part of said 6�vernmer.t Lot 1 lying East of Higr,�ay No. 6� right-ot-wry as tor..erly tonstituted and now krtiow as Caunty Highway No. 3=_. Psrcel 2500 - The South 100 feet of the North 450 feeL of that part of 6overrnent Lot 1, Section 24. T-30, R-24� lying easterly of a line rvnning parallel with and distant 830 �etL atsterly of the Morth tnd South quarter line of said Section 24 and lring +resterly of Htghway Ko. 6� righ;-flf-way as sane was located on July 17. 1953, ezce�t part tor highwty. I-A-2a � p�rtel ?SCO • South 100 fetL of North SSO feet of that part of 6overnnent lot 1 y�s+9 est of tenter line of Highw�y No. 65. except part for hi9hway. sppro:i�,ate ��i�+ce after h1QAway. exc=pt tll of South 100 feet of Morth 550 feet of that ptrt ot 6avernment Lot 1 lyin� �orthwesterly of Htyhway No. 65 whicfi ltes easterty on a u ��nnin9 pari11e1 with snd distant 830 tcet aesterly of Narth and South quarter ltne oi Sectivn 24, except .43 acre for Aighwey, SectSon 24� T-30 R-24. �arcel 3000 - A11 that part of the to1lo�+in9 Qescribed t*nct: 6ov�rna�rnt ois ind 2�nclvding �ot 15. E1rlol�nC GarOens whic�+ lies nor:h::esterly 63 ts s�ar_ ot the noT"Lhwestcrly boundar�r 1 iae ot Tcunk !lishway N�-. Mas located on Ju1y 1�, 1953 and soutbeasterty ot,� ti�e Tvnning p�r�11e1 vith •ns distant �5 teet •southeasierlr of tol lo�ing dssctibed 1 ine : Beginning �t � point on SoutA line of Settion Z3 dis:ant 3 feet Yest ot souLhe�st tarner therrof, thence rvnning norLherly snd paral lel with Etst 1 ine af Section �3 for 1e72.4 feet. thence deflect to right on 1'30' curve- delti •ngte 20'08' for 1342.2 feet. thence on tsn�snt to s�i0 cvrve. fo� i684.9 fert, thence deflect to the tett on a'00' eurve- delta snyle 20'49' for 600 feet and there te�ninatinc, except �}�er=fro� a trisn9ular piett of �and •�oir.inq and sovtheasterly of abovt EescrlDcd TS fett para11e1 11ne and soutk�+esterly of foltoNing described 11ne; 6egin�ing at a point o� above destribed 75 foot line Eiztant l00 fett nortbeaster]y of its intrrsectio� with the �orth+.esierly bounda ry of Trvnk Hi9�n:ay No. 65 is ar.r_ ti+as loca�ed on July 17. 1953. th:nce south- tasterly to a point on north.�esttrly boundary of Trvnk HighNay Ro. 65 distant 100 feet northeasterly. , • A._ 22 hrcel Z065 - Lot 1�, �ezcept the Sou'�h 390 teet, Avditor's Subdivision o. , ana lot 30, Block 2, Irvinston Ad�ition snd •djoining sLnet t�d alleys. . - . •Parcel 2160 - Lot 15. �uditor's Subdivision Mo. 22, toqether rrith riQht- o-Kay for ingress �nd egress in f�vor of Lct 15 over snd upon the East �0 lsrt of �ot 16. Auditor's Subdirtsion� �o. ?Z. - Pircrl 2180 • Lot 16, Auditor's Subdirision 1b. 22, sab�ct to right-of- y ar pgrtss snd egress tn favor of Lot 15. �vditor's Subdivision Mo. 22, Za an ovcr and upon tht Esst 30 �sti of Lot i6. . . . . _�� .- -- - -��al �220 - Lot 37, AuOitor': S�divi:ioa �o. �,��prt i�uLh 35 #set, ��Ob,fe�ct t,o �ltiirate sey+t_r and�irater easaneriL ;fsvo� �South 53 feeL of.,lo*_ 17. _ . . ._ � 12/13/5: pircrl 2240 - South 55 feei of Loi 17, Auditor's Subdiv•ision No. 22, gether vith private se++er and xatrr easement from ttorth part of Lot 17. t12-13-62. j I-A-2b ►arcel 2300 - lot 18, AuOitor's Sub��viiion �o. 2Z. exclpt � 15 toot eise�nt to NorLhwtstern 8e11 7elephone Co.. i�cluding perpe:u�l ri9ht • et t�gress u+d �gress over Lot 24. except perpetu:l risht-ot•vay ovcr EasL �0 �ett to ormer of Lot 24, exttpt southerly 110 lteL tro�i and re�r• �Parcel 2320 =•Southerly 110 feeL tront end rear of Lot 18, Auditor's ! i�rision No. 22. . Pa::el 24�0 - Lot 19, A�ditar's Subdivision ?10. 22. A.S. I TS Parcel 2463 • Lot 20. Auditar's S�Sd �vision lto. ZL 1� Parcel 300 • Th�t part of. L�t 1 describe� ss folloe+s: 6eginning aL a poiat rhich ts the intersection of tbe South line of Hackn�tnn �venue p1aLLed and the easterly lirre of Crnirsl Avenue N,E., thenct e:sterly atong said Souih 1 ine of Hacfurann Avenue 101.39 feet to a point,�f iniersection r+i U a line pa rallel Mith �nd distant 130.fett. West as �oeisured �lon9 the North line of siid k�et 1 of a..line described.�s tolloh+s; bcQiruyiog at � point on the Horth line o{ ti�d Auditor's ' Subdivistoa llo. 25 distant 192.5 te!t E�st ot th� Nor�hwest carr,er thereof. thenct South s distance of 209.2 ft:t to a point on t line para11e1 vith and 160 feet Mcrth of the a�ost southerly line of said �.ot 1, �rhich point is a37.44 fttt distsnt East froa� the center iine of Central Aven�e 1l.E. and there ter�inates, thence South elong snid paralltl line 2?a.11 ftet to a point on a line parallel with and 160 feet korth of tne nost sontherly liae of stid Lot 1�fiich point is Z49.62 feet East fr�am the easterly riQhL•o`•+ray line of U.S. ?rvnk Nigh}�ay �lo. E5, tl�ence parallel vith the eiost sovther�y line of saSd Lot 1, � distance of ?49.62 fetL to the easterly riqht-oi-way line of U.S. 7runk NigtiNay 1io. 63, tt�ena aortherly along uid sssttrly ri9ht-of•ray to Sts tnLtn�ction rttl� tl�,e esster{y iine of Central Avenue N.E.. t�er�te ton:inve tn a northeriy directioe� alo�g ;a1d easterly lfnt to the potnt oi 6e9innia4, �xcept the North )35 feet, and except that part ttker� far . high►raY Pur�oses. . Parcel 350 -�oRh 135 feet of ttsat part of Lat 1. descriSed as follows: ' —. . gznning �t a point �rhith is the inttrsetLion of the Sonth line of Hacfcman� Avenue as platted, and the ezsttrly 1{r►e ot Central Avenue N.E., . thence euterly a1on9 siid ��h line of Macfcr�nn �venue lOi.39 feet Yest as of tntersedioo rith a line parsIiel vith and distant t30 fsit Y�st as �easurtd slong the itorth lint of szid Lot 1 of a line described as follorrs: Segt�niag at a point on the liort.l� line of ssiE �►uditor's Subdivision Mo. 25 distanL 4gL.5 feet East of the northwesL eerner ti�errof. thence South a ' distance �f �.i fseL to a poinL oa a tine pirallei �►tth and 160 feet Korth �. of tbe �ost sovtherl,r �ioe of said tot 1 sfiich poinL is i'l7.�4 fset dista�i �ro� the ce�terline'ot Centra'1 Avtnue N.E. srad tbere ttrminates. thcnce South along said parallel line 285.11 feei to a point o� a line parallel I-a-2c � rith and 160 tett North of the �cst tovthtrly line of tald LoL 1� vhich point fs 2+9.62 teet EasL lram the easterly ri�ht-of•wy tine of U.S. Tnnt A��waY No. 65, thericr Vest paril�el wiih the eost souiherly liae of said Lot 1. a dist,nce of 2�9.62 fert to the � tasterly �ight-o`-�ray ltne of U.S. 7runk Htgb+sy t�o, 65. thcnce rtortherly �long said easierly right-of-way ifne to its intzrsection. '� rith the tasterly 1#ne of Centr�l Avenve H.E.. tl:ence continue in • a northcrly dirtction along safd easterly ltne to the point of beqinning. Subjeci to ensement of record. excepL that par: Laken to� hi9h++ay purposes. �ircet �00 -.Tf�e westerlr 10 fe:t ot thr tns:erly 130 f�e: of that :,part o ot 1, Iluditor's SubCivi:ton No. 25.lying South of the south line of Hacka,ann Avenu� •s shown �y the•recorded plat of Parkvie++ Manor 2nd AOdition. which point 1t Oescrit+e� ss tollows: •g�gin„ing it a point on t?�e North lint of tiid Auditor's Subdivision fio. 25 distant 221.7 te:t eas � of the horthwest corner lhtreof ; wfiich point is also oc► the centerl ine of Central Avenue. � tl�ence East on said Ncrth line � distance of 270.E feet, tAenst � distance of 308.2 feet to a point on a line par�llel xiLh •nd 160 fee�'•'�Vorth of tAe nos: southerty line of s�id lot 1 r+htch point �s 137. 4 feeL . dis:ant Eas: from the centerline of Centril'1lrenue. thense kest �lono a 11ne par�llel wiLh and 160 feet MorLl� of the inost southerly line =` s3id Letl 437.44 feet to the centerltne of Central Ave�ue, tt��^c: �ort�:etsLerly along said etnterline to the point ef beginni�;. . �arcel 560 - That part ai lot 1 iyiny South ot a line 160 fett to the . orth o and para11e1 to the oost southerly tine of said Lot 1 and bounded on Lhe West by tht West line of S+ection 24. 7•30. R-24. and on the Eas! by a line parallel to and 656.92 feeL Eas: of taid West line of Section 24, 7-30, R-24; said saster��r boundary of the premise •1so being the westerly line o! blk itrtet; subject to eese+nent tor t�i�htiray purposes over that portion of said pre�ises hentofore conde�ned for higt�rray purposss, :vb,�ett to ttreet and vti�Sty easesa�nt over i�est 20 fett to City o��ridlq► �/14/i4. exct�t �art tsken by � State of Minnesota for hiSMray ptr aaended itnil certificate dated 8�21�64, acepL East 265.1 fseL for Parcel 570. � ' �- Parcel 570 - The East 265.1 feet of that part of Lot 1. lying South o a ine l60 ftet Lo tbe North of aod Oaril�el to Lhe iocst sentherly �ine ot said Lot 1 and bound�d on �#e �tt �e ��ion Y�, T-30. �,24. and on the East by a lfne pra�ls� �'�� .� �eet Esst of said Wes! li�e of Settion 24, 7-�0, �-Z4: iaid easkrly boundan o{ the praarises also being the �+esterly line oi Polk Street. hrcel 3a0 - That part of tbe �� f �1i� �sl�*a� 1Z0 eet � t�t part �t t�o�t i � -"s�► �`�t -�e �1�� ,ss � 'fallods; ieginning :t a poiat oe the worth 1�ne �t ssid �uQitor's Sc�bdivsian Mo. 25 distant 492.5 feet Esst of tfie �orth++est earaer thereof; thencr South a dist�nce of 308.2 ftet tore or ltss to s Deint on a line parallel witfi and 16D feet horth of Lhe �cst soutt�rrly ��ne of said Lot 1 ahict� point is 437.44 freL distant fas: fr� the tenier�ir�e of'�entral Avenue � and there ttrssinatts; ind sout�erl,1► of Lbe South iine of Hackmann Arenue ts shotim by the recordtd �1at �t hrk YieH �:inor, 2nd l�ddition. � i-a-2a Y �' P:rcel 600 - The easterty t20 teet �xcept �Ae n��ytrlr 13S f�et of �Fi�t part of Lot 1, whitt� is M.scrided u fol'lows to rtL; teginnf�9 at a point on the North line of,sa�d.Aud�tor's SubGirision No. 2S distant � 221.7 teet East.flf the north+�+est corner thereof; Nhich point is alio on :'�e crnterline of Centr,l Avenue, Lhence East on stid North line a disLanct of �70,g feet. Lhence South a OisLance of 30E:2 feet to s point on � l�ne ptralle7 with rnd 160 feet North of the most sovther]y tine of safd Lot 1. r+Aich point ts 437.�4 feet distant East froa� the centerline of Central llvenue. Lhenct West �long t'.ine parallel with and 160 teet horth of the �st southerly line of said Lot 1 437.t4 leet to the centerline of Central Avenue, thence northeasttrly �long said ee�Lerl�tee to the point of be9inning, and except the North 30 feet ' s,easurzd iton9 ti�e North line of said Lot 1. � ' ' . �' .'' t�rcel t1C0 - Lot 3, excep: tl�e easterlY 6S0 feet thereot •s eeasurtd i on9 the !lorth •n6 South tines thereof, and txcept that parL tAereof .� lying wi:hin Staie ?rvnk Highway No. 63, excepi part Lo Mi�western „ Fiaanct Inc., Parctl 1120. � Parcel 1270 - All that part of Lots 3. 4 and 3. d�scrtbed as beg;nning st tAe nortseast eorner of sa i d LeL 3, thence North 89'S�' 39" Yest al ong North line of said Lot 3, � distance ot 13311.6� teei to the •cival potnt ' of be9inning of the land to be herei�a`ter described; thence South 1'15'SS' Frst 201.59 feet; thence on a t�ng�ntial eurve to the left. t1�e ridlus of _�i�.S_ 68.44 fe�t anC the chord af said curve, b�ars Sou�h 13•;�'�5" E�s�,_ a distnace of 30 fett,, �outh 62'40'27 :,arst 76�;79 fest Qore or less tq a,_.. . point� on the SouLt� .line of said Lot 5, distant 1393.62 ie�t�Mest from th� Souit�east eorner of said L�t 5, thence nor:h�rsterly to a poir►; on North line of said Lot S, distant 1505.96 f:=; lies� fra:. the nor;hezst corr:sr of satd Lot S. thence iiesL slong said hor:h Tir.e o` Lot 5. a dis:znce o` 6° fe�t� t�e� yprth_to a point_on Sovth line of said Lot 3, distrnt��53.9b fee: Kesi frot t0e..�o�'LheasL. cori�er thereof, � thence fzst ioi►e 'si�d South �ine of LoE'� to" XesL �line of E'asL 1580.4 feet �of siid lot 3, �thence i�or:h t tong said b'est 1 ine of Erst 1580. 4 feeL of Lot 3 to the yorth 1 ine thereof. thence South 69•56'39' East along said Norih line to the sct�ua7 point o�f beginnin9. Parul 1�00 -�ot 6. txcept the East 150 feet of West 330 Feet of South eet, except South 6 feet (Pa rctl 14�0), except the part taken for highway, except easement over Nest 330 feet of South 6 feet: except �.08 �cres for hi ghr+ty, except E=ster'.y 6�0 fert to School; sub,ject to ease�tnt Lo City of Fridley for stretL over West Z2:73� feet of �Enst ' 67Z.73 teeL of Lo: 6, extepi part taicen fer hicM.fay pe- f.C. aprraved Zl2�66,. subject Lo a9ree�+ent vith City 3l6�78• ' . Paral 1�10 - That part of Lo! b. lyin9 easttrly of the northaasierly �ght-of-�ray ltne of Outer Drivt of State 7natk HigM+ay and west af a li�r 1253.20 fetL WesL of the Fast � iae af said lot 6. is oetsured . at riq�t sn9ies to�nd par=11e7 with the East 2tas of ioL b, subject , to lseoe►!s �f rteord. I-A-2e � ►arcel 1510 - lot 7, ezcept that part tor 6i9hNay, except an �asement overltorth 6 teet ot Yest 330 feet. t:cept part to �brin, txcept .OS acrs�s fo� highr�ay. except easier�r 650 feet to School. P�rcel 1050, and excrpt part taken for hi9hvay per F.C. �ppro��ed 2/2l68'. snd exce?t ' P�rcel '! 560 ind Pa rcel 1570. • _ p�rcel 1 Sb� - Lot 7 lying soutMaester�y of a tine and its ex:ensions rrrn para le1 with ind 30 feet southwesterty af a line described as follorrs: Coae�encing �t a potnt 30 teet South of and on a tine at right angles to the t�orth 1 ine of Lot 7 from a point on said tiorth 1 ine 641.�3 feet 41est of the East line oi said Lot 7 xhen Qensured ,iong saic North line; thence southeasterly to � point on the northerly extension of the East line of rrhat ras fcrc�trly Lot 3, AudiLor's Subdivisian ho. 9�, 30 feet Nor:h of .the s�orthe�stiy torn of said Lat 3�htn a�2SUr2� al a;,; s�id nortfierly eztension and there ter-c�inatinc, AND west 400 feet of � East 8G0 feet of loL 8. Auditor's Sub�fvision f;o. 25 (exce�t Parcel 1i5�). ,� �.�t0 thst Ftrt ot Lo: 1 drscrib�d ss foi}ovrs: Ca-�encing at thr S�:r:Rwest � corr.er of L�e Easterly 650 fee: ot =atd Lot 7; thence t:��t� pareltel wit� th� No�th liae ot s�fd Lot 7. s dist�nte of SS feet; tt�ence Wes: pirallel wiLy the South line of s�1d Lflt 7, 150 fetL; thence South parallel aith the Ea=t line of said lot �. SS feet to the Sovth line thereof; thsncr East 154 tee: to•the poinL of beginning. (Subject t� the opening of filla:ore Street over the East 25 feet tt►treof). . . .. ... Parcel� 1570 - All'�ha� pa=f ofZiie"Yest'�50� feet•ot-the •East 600 .feet _ o Lot 8 lri�9 in the Southwrst Qu�rter of the NortheasL Quarttr.of � h� SovthrrESt Q�trter of SFction 24. T•30. R-24. and txcept for the portion tfltreof des�rtSed a5ove, the ilest 150 fezL of the �nst 8L0 feet of Lot 8. • Parccl 1700 - Lot thertof lying west outer driv� of the South 12 ieet. 8, txcept the East 80Q feet an� except tha: part of the �orthensterly rig�t-of-++ty lin2 of the Sia`�e 7runk Highway. subjtcL Lo ease:�ent over Lhe P�rcel 1850 - lot 9. exce� : tor risht-of-way, exce?t par� taker, `or �shK�r .p. 1-26-51, ezctpt Eist 800 teei to City at Fridley, Parcel 1860 � . Parcel 18fi0 - The East 800 teet of Let 9. txcept that part to Indep��den: thooi District No. 13. _ I-�i-2 f �� .S � 88 • 0 ��rce1 s0 - Lott 1 and 2. Avditor's Subdtrision flo. s8. suDject to 20 foot � ��pt� utilitr easea�:nt to LAe City ot fridley. . . _ . . •. .�• � : . . - • _. , �, . _ . ,. . .: Pircel 160 -�ot 3, Auditor't Sabdi�ision No. 68, subject�to utiltty • easemenL o�er Sovth 20 fett. ' . �Parcel 200 • Lot 4, Auditor's Subdirision No. 88. Parcei 240 - Lot 5, Auditor's Subdivision No. 88. • Parcel 280 - Lot 6. Auditor's Subdivisan Ho. 8A. Subj. to ease�ent over Ezst 50 feet. ' Parcrl 15Q0 - That part of 6overnc�ent Lots 1 and 2, being � part of Lt�e Southwest Quarter of Section 13. T-30. R-24 lying East .of a line dra�m 30 feet East of the Easierly tine of Siate Highv�ny Na. 65, as the str.� is now laid out and consLructed, snd Socrth of the Sou�h line of l400rt lalce Highiand 3rd �dditio� snd the same extended easterly, and ..lying tior'�h of the follorring d�scrtbed Lrac�. thtt ptrt of 6overna��n: Lcts � and 2. Section �3. ?=30, R-24. lying 33 feet on each side of the . followfng described center ltne, toRmencing at tt�e northeast corner of ' satd �overn��n: �ct 2. Se-Lfon 13. T-3Q. F-2�, tye�ce �•':s: •lcns t�:e fiorth line t'ureof 2:,°..61 tett. therte to tht lt`t on � t=nS��tii1 c�r:e hiving a radius of 230 feet and t delta �nglt of 59'2�1' a distance of Z38.45 tett. thence scuthrvestzrly tangent to s�id curve 527.71 feet. thente to tt�e ri9�+t along s Unqen;ial curve havifig z•radivs of 230 feet � and d:�ta tnQle of 62'16'40' a distance oi 250 feet, thence M►esterly tangent to said curve 423.78 feet, aore or less to the easterly line of State Nigh�ay Tio. 65 is the sr�:e is na� laid out and eonstrvctrc, being a pnrt of Lots �6 and 17. Acrditor's Subdivision Ho. 88, excepting . therttrom that p�i•c thertof included in the follor+in9 described 7ratt A, tirhich tr�ct has hereLofore been dee6ed to the Citr of Fridlty. ?��ct A - ts descrt�ed as follovn , all that part of Lot 17, Auditor's Subdivision No. �?. :a:ag that part of tt�e South++est Quarter ot Section 13, T•30, R-24. dss�-:�=d as foliows; beginning at i poini in L`�e sou�hti.esterly line of :�� 1. S1ock 2, lbore Lake Highland 3rd Ildditio�, distant 30 feet • ��ortJ�w±sterly of the SoutheasL eorner o` stid Lo* 1, tt�e�ce southezs:erly '. 'tb'said southetsi corner. thentt South to a point in the South lineof thr So� _ ��s: Quar•.,�� of said S�ctio� 13, dis:ant 625 feet G'est of S:utt� ��r�•er eoR,er of satd Section. thencr Yest �lony the South line thereof, a distance of 250 fset. thence NorLh at riqht sngles to the last described line. a distsr,ce of 100 fett. •thence East a�d pir�lttl to said South line a distsnu of 150 fett. thence earthtisterly � distance of 656.81 feet, oort or 1ess, to the point of begtnnsn9• To4ether with in tasemen; ior � road� purpases over tt�at part of the tollowing dcscribed tract, rfiich lies . Resterly of sDove descrtbed Tract A. that part of 6overnsr�nt lots 1 and 2, Section 13, T-30, R-24. lying 33 feet on each sid� of tfie tolloYring described ttnter lint, coam�ncing st tfie northeasi torner of said Cover:nYnt Lot 2. Section 13. T-30, R-24, thence btest alon9 tfie Morth line Lhereof 238.81.feet, t��nct to the teft slong a tzng:ntial. curve , . I-A-2g . l�aring � r�dius of 230 feet snd a de1tZ an91e ot SO'24' � distance ' � ' ot t38.45 tett, thence :outh�+est�rly ian9�nt Lo said turre it7.71 �teet. t�entt to the riyht �lon9 � tsn�n tStl turYS.L�r�np � ndius o t Z30 leet an0 a delt• sngle ot it'1i'�0' � distsna ot 250 teet, rthence �resterly tan�ent to said �vrre 4Z3.7a teet, �cre or less. to s point �+t�ich is 30 fett East ot tik tssttrly 13ne of State High�ay No. 65 as t�e :�e it oai► 1at0 out and consLhuted be�'n� • part ot l,ots 16 � - � : and �7, Auditor's SabdTrisioa 10. �8. . ' Parcel i800 - Those parts. of Lots 16 and 17, Auditor's SuDdivision No. e8, described'as folloMt: All that p�rt of tbe Soutin+est puarter of Settion �3, ' T_30� � 24, s�escrtbe� as follo+rs: toe,mcncin� at the nost southerly torner of Moort lake Hiqhlands lst Additton •ctordin4 to ttse plat tt:enof, thencr in � sovth++esLerly direttion st right ingles to the South righ;-of- �ray ot 63rd Avenue N.E. ss oriqinally pisLt�d of =aid l�ioon lake Migh;ands ' ' lsi Ildditfon. a distance of 175 tett, thence in a southeasterly direction at . right angles to .the line ��sL described,_�long a liae parallel, to the �• sai6 Soutb rtgtit-of=r+aj►`line of i3rd Xve. f1.E. of said I�aore lafce Hishlands �- lst 1lddition extended a distance ofi 169�5 '�eet'�Lo the actual point of be9inning, thenct �n s s�rtl++�esterly dirt+ttion along the line just dtstribed a distnn�e of 494.25 feet, tJ�entt in a westerly direciion at a��dtflec:ion .� tngle L� t�e l�ft of 22'20' s distanct of 309 feet. thence in a�south- tresterly direction at � def7cction �n91e to the ieft of 77•22' to a�oint of intPrsection with tht South line of said Section i3, thence easterly along �he said South iine to s point 625 feet West of South Quar;e� ccrner of said Section 13. Lhence in � northerly direction tc the actual point of beginning, except part ta Yillige of Fr{d1ey, ezc!pt part.fQr hiGhway. ezcePt part to CitY of fridley tor road,. subjett to street ease.e..�:t 66 fePt � r:de to Citj► of fridley, per QCD 6/1%66. exceDt.Parcel 1SGG.. � : hrcel 1620 —�lll thrt par: ot Lots 16�and 17. Audit�r's Su�i�i�s��a No. or t�it Par: of the South�est Qu�rter of Settion 13. T-30. a-24 � decrtDt►d as folla+s: �eginning �t the lntsrsettion of the southeisterly r{ght•oi•�ay line of State Highaty Ko. 65 �nd�the South line of said SouLhwtst puarttr of Section 13. thencs Etst along the South line of said Southti+est Quar:er `or a dis:ance of 232.0 ftet to a potnt, said point being 1394.60 feet. �ore or less, Yest o` Sou�h Cuarter corner of said SecLio� �13; thena Morth at ri9hL angle to the last described line for a distance � of 285.54 feet: thenae north+resterty. Mith a�eflection angle to.the left of. 18'S4'9 _for a dtsttnce of 163.6t� teet, nore .a�.leSS, .to 'the saiC sa�th-. �res:er7y right-of-rry line: thence seuth�,ester]Y alonA said seuthezsterif tiphL-of-r-�► to tht point of .beginning. Pnrcel 18�� - All tt�at part of lot 17. Auditor's Subdivision No. 88, being at part of tt�e Sout,.'�st Quarier of Section 13, T-30. R-24. Moka County Eescribed as fa1lo+�s: Beginning at e point in the south+�esterly line of • Lot �. 81xk 2, Moore l.�ke HiQhtands •3rd t,ddition distanL 30 fett norLh- �resterlr of the southesst eorner ot said Lot 1, thence southensterly to ssid sovtheast eorntr. thence South to i po�nt in the South l�ne of the . So�thaest'Quarter of said Settion 13, dis:tnL 625 `r�t �as� o` the Sau_': Quarter eort�er of said Sectiot�. thenct ldest along t`e Sar�Lh line therco', a distsnct of 250 teet, th�nce ��rth at riqht angies te the last descri5�d line. a distance ot i00 feet, thenct east �nd �arallel to said South 7ine, a disiana of l5a teet, thence northeasterly s disLsnce of 886.81 feet. sere or less, to the po�int of begi�niny. This tract sha11 be per�tually dedicated for pNblic d�ainage purposes to Lhe said Yil]age of Fridley. . �. . I—ai-2h �� =pp0 • lot 11. �udttor's Subdivisio� No. a8, txcept Part platted as ore t.+k� y�9hlands 1st I�ddiLion. cxcept part to Centrsl Jlvenue . ;.t��t, tnc., tu�t }art �tatted as Moore Ukc Hi9hland �rd Addition. . • ��pj�ct to street �ssts�etit i� ��de ta Cit�y oi fridlty �tr QCD dated 6�1/66; :. . � � _ A.S� hrttl 180 - A11 of lot 2. except the East 200 feet. A.S. � 155 . Pa r�el 250 - tot 3. �luditor's Subdirisioa Mo. 155. sub� ti�ken forthighwayuper�FyC. ease�me tn over Yest 33 fttt per pCD 3-29-65. except pa a�proved 3/18168. s�tb.7tcL to and togett►er with r;ght of access. . Prrcrl 900 - Lot 4, Auditor's Subdivision No. 155, exce�t part for highway, exce�t part or highway. e�cce?t Part for highway per FC t�proved 3/18/68. subject to �nd together vith right of acczss. , Parcel 920 - lot 5. Audir F C s PProv d 212/5$ 5'• ex'ept .12 acre tor �igh��ay� ezce;: part ttken .tor tiiyt:wsY pe , Lot 22. dlock 10, Donnay's Lekevi�w Manor Additlon � L... 5. Block 5. Donr►ay's Lakevie�+ Manor A��ition Outlot 1. Block 1. ponnay's Lnkevie++ Manor Addiiion �ots 1� Z� 3, 4 tnd S. dlocic t, Htn+tl 2nd Ilddition Outlots 1. 2 and 3, Blxk 1, rloore lake HiQhlands 4th Jlddition Loi 1, dlock 3. lbore Lake Hills _ . Loi 1, 81ock 1, Hillvrind Ac!dition • Lnt lA thr�ugh 63. B7oc�lc l. Iwtn 7errace LoLs 1 throv9h 7. 6lotfc 4. L�mdale duilders 6tA l.ddition LoL 1. 81ock �,,Real Estate 10 Addition 0 Lots 3, 4, 5, 6. 7�a 8. 81�k 1, Erco's lst llddition .� ; lots 1. 2, 3, 4. 3. 81 ock 1, ikn�al Ri cr Crstic 7errace � .� 13 14, 15. 16, 17, 16, 19 and 20, 61ock 1, Spring Yalley Addition . 1.ots , . . • � Lots 10, 11. 12, 74. 15. 16. 17. 18 and 19. 8iock 2. Spring Ya11ty ��ition I-A-2i ;, i i . ! : : ; ; � � ; . . i ; . m ,� �EG.11 OES�RI P � ION The folla+in9 described p�opefty shall constitute the l�nd •rea incluCeO Mithin :ne Re�evelopment Project Area. This �rea �nay be �mmanded by adeing �� :'::ing land area: in the same a�nner useC to es:ablish this Dis:rict. ihe Redeveloprt►ent Plan p�oposes the inclusion of tht following des�ri�ed real es:ate: � 5�g42/3pp0 • No++ 02-30-2a-22-0001 �pM A� A Pt On � IINE OF SD I�1/a 533.15 FT + or - S OF Nid COR THEREOF (SO P7 aEING THE INTER OF Y IINE OF SD Nr11/t i THE 1�1LY EXT OF TKE S LIHE OF THE PLAT pF CppPER-DAHLBERG ADOI?ION) TH ELY d PRLL TO TH� N LINE OF SQ-NW1/4 TO A PT 6E1M� �pp fE�T M Of M R!W IINE OF SD 7 H�41 ?H Slr PRLL/�1 SD NLY R/W OF S� 7 H�47 TO A PT 6E?NG 450 FEE7 N OF S LIME OF SO N1�i1/4 OF NW1/4 TN ELY i PRL: TO N LIME T1�EREOF 600 FT TO WLY R/i�l LINE OF SD 7 H i47 TH SLY ALG SD.R/W LINE TQ THE Su COR TMEREJF TH WlY ALG 5 LIHE OF SD N:�1/4 OF NN1�4 TO THE 6�+ COR TN�R:OF TH NLY AL6 W lltiE OF SD 1/4 1/4 i0 P 0 B EX RD. StlSJ TO EASE OF REC 53902/3200 - 110� 02-30-2�-22-0002 . �. . TWIT PART OF TN£ M 32.i2 ACRES OF NH1/� LY6 N OF THE I:LY R/H LI��: OF T H �<7 EX RD SUBJ TO E/lSE OF RiC S3l02/33J0 - Me� 0�•�-24-22-0003 � F 6Qp, pp FT AS MEAS AT RI6HT A�GLES TO THE ii R7•OF-1iAY OF S7AT� TRK MIl' 110 �7 OF TFtE Fq. DESt TiiACT•ALL OF THE I�i1�1/4 OF Nwf1I4 OF SEC ?•30•24 ANOICA CN?Y, !N LYIN6 StLT Of STATE TRK M�IY t�0 47 (EX 7Hf S 1050.00 FT THFR�OF) 5(EX Tt�lA' pAR � Llr ING N OF THE S LIN � OF THE N 32.12 �►CRES OF SA I D NN1 !4 OF S1�I D SEC 2)( SUBJ TO EAS� Of RfC4RD TO tIT'l OF FRIDL�Y fOR S'+RE�TS SIDEt�1aLK� b U7IL)(SUBJ S� S'�►Tc NIG�9�lA� NO ti ACQUISITIO!V)(SUBJ TO SO FT MID� EASE FOR SERVIC: ROAD PUF�" E:AS� OF REtORD) 53902/3400 • �a+ 02-30-24-22•0004 �f f 6�0.00 FT OF THE N 6�O.00 � oF n�F s�aso.00 FT. OF ALL Ti�iA' PAR; OF iHE p�'1/4 Df I�f4�ft/t OF SEC 2-3�3-24 AtiOKA C.`(TY, M!V IYING 41t1f OF STAiE +ii1C NNY 47 (SJB� i0 rAS� QF REC�R� TQ CITY OF FRIDIE� FOR STRE:7S SIDE�iA�KS 3 1%'tIL)(5�'�� ?C STATr K,;Y NO 47 ACQIiISITIOti)(SI:BJ TO A 50 Fi NIDE EA�E FOR S��Y:G� A4ri; ?�;== b EAS� OF RECORD) S'_9�2137�0 - l�fc,r 02-30-24-Z3-�rJC�? �E S t52.54 FT OF �LL TH PT Of 7HE 5+�1la OF Krt1/a OF SEC 2•30-2a aNO� CU�Y, � lYIN6 tdLY OF S?RUNK t�K1� No 47 I-1�-2 j ��g02/�000 • Mo� 02-30•2�-23•00�4 . TNE ELY 600 FT OF TKE N t25 23 FT OF THE S 877.8� fT Of ALL TMAT ►ART Oi TME S}11/e o{;iw1/a 0� SEC 2•30-24 ANOKA CN7Y. t?1 LY1NG MLY OF S1Ai� i�KFMY Md 47 (SUBJ TO AV F�S: FpR UT1l PuRP OvER THE W?0 FT OF THE ELY 115 FT OF SA10 SW1/d OF K�1/a �rl�i� y,.;r oF �a aa��c:':T TO THE �! lI!�E OF 57kT: TRK M,iY'VO �7)(SUB� TO E�'►SE 6 P.ESTR1r; Zp�;S - '! Of R£CORO i 20 F' STRE�7 EAS� NOV 11� 1976) �A R�LiY RESIDUE R•02-30-24•23-0011 T}{AT PART OF Swl jd OF N►r1/C DESC AS F0� CON AT A P7 0�� iiLY R/V LI!IE Of T H �C� SO pt gEING 8i7.8� fi N OF S LI�iE OF 5:11/4 OF Nl:lia TH WLY AlG Tr.E S LINF OF THE .PLAi pF (,A►6� REALtY Fi �ST AOD 600 F i TO THE P 0 8 TH SlY PR�L w I i H THE �iLY R/W pF i Fi 'Q1 a25.23 F? ?H WlY PRLL WITH THE S LINE OF S�? 1/4 1/a TO W IINE TNE�:�F T�c H�r �E w LINE OF S� 1/a 1/a a25.23 FT TO 5 likE OF SD P�A' OF CAB� aEn�TY fIRST AOD ;�;•E�Y A�G SD 5 LIn� TO P 0 B Ex RO SUBJ TO EASE OF REC Caba Renity First Addition - Lot 1, Block 1. and Lots 1- S, 61ock 2 � Univers�ty Industrial Parlc - Lot 1. Slock l; Lot 1, 61ock 2; loLs 1- 10. 81ock ?. and Lots 1- 8. 61ock A t�tivERSI71f IMD4�T�IAL PA,Zx RESIDUE R-02-3J-24•32-OOZS �Afi PAR7 OF 1M /4 OF S�11 /4 lY6 NLY i YlY OF THE W S t� LINES �F , BIOCK d OF PUTTED INDUSTRIAL PARK EX RD SUBJ TO EJLSF Of REC 53902/57Q0 SOLTH 284 FT. OF bfEST �60 f7. OF Ifw11;Q OF �lljt OF SECT10"1 2-30-24. SU6J TO PU6 EJISE �JID RESTRICTIONS QF RECDRD. • �� 539�3; ;60G t No,• 03•30-24-1�-0001 THA; PART 0� t��lZ OF SE1/4 OF ME1/4 LYG S OF N 233 f' TH�R:�F A,yD Ti�{�„ F�R' OF SZ/Z OF SE1/e 0� �E1/a LYG � OF E 600.Z FT THER:O� EX RD Su6� TO EAS� O= RFC 5?903/1810 - Nos� Q3-30-2d-14-0002 �HE E 60Q.2 F7 OF THE S1/2 OF SEl/4 OF NEl/4 OF SEC 3-30•24 aVOKr+ C!��Y, � (SUB� TO E1�iSf L RESTRICTIONS OF RECJRD IF AN`!) 53903/lglp _ ilo�r 03-30-24-14-0003 ?HE N 233.00 Fi AS MEAS Ai R7 ANGLFS FitOH iHE N LINE OF SE1ld pF NE1/C Or Sc� 3'30-24 ACLORDIk� TO TrIE U S GOV7 SURVFY TNE�EOF I—A-2k 53903/7220 • No� 03•30-24-t1•0002 SLC � ION 3•30-24 - E1/2 OF NE1/4 of SE114 OF SECTIOt� 3-3-24. AHC� COUt:'Y �� ExC:D; T�F E 330' OF THF S 264' OF 7HE NE1/d OF TME SE+/4 OF SECT1ph 3-3�-2= 5��,; TO�EaSE OF RECORD (EXCzPT: THE W 328' OF Ty:�S 805' QF TNE E1/2 0� �NE � ME1/4 OF :E1/4 SECTION 3-30-24 ANOKr'� COUNtY Mt! SU6:, TO EAS� AGR::�tF�� a•12.7a; (ExCEoT: TNE S 605' Of THE E1/2 OF TME NE1/a OF SE t/a Of SECTION 3-'30-2� ExCEQi Ti+E wE57 328� ACCDRDING t0 T}+F PV+T THEREOF Orr Ft�E at:D REG IN TME OF� ICr OF THE REGI57ER OF OE:CS wI7HIN Ay0 FOR SAID COUNTY. SUS� TO E�SE AGRE:M�NTS a-12•Ta) .(�X TN� 5 80�' 0� TKE E1/2 OF yEl/Q OF SEl/� 0� S:�TI01 3•3�J-2n �XCrPi T!�!T w 326' ACCC�DI'�G TO THE PLAT TH�R:Gf Ot� F i L: �t;� R:C I'+ ti�i� 0► * i C: 0� S�: �EG I S;:� pf OE�DS WI7NIN ANO FOR 50 COUNTY SUBJ TQ EAS: AG�:t`I'tE�I� S�-12-i: ) =�:^3/lap� - Now 03-30•2a•13-OOt3 T�+'c NLY 135 F' OF THA' PART OF S�11/4 OF NE1/4 LYG E OF B� R�.:LRC�� 'r �X R� SJSJ i0 EASE OF REC :39V3l1a00 ��aIS PARCEL - How 03-3a-2a-13-0012 ;HAT PAR7 OF Sul/4 OF Nfl/4 LYG E OF 6N RAILROAD R/W EX THF N 13� F7 THE�EOF :X RD SUBJ TO EASE OF REC Parcel 221H S.P. 0285 (694=393? 901 All that par� of the folloWing desczibed land: Lot 2, Au�=tcr's SubCivision No. 153, accoz�inc t� t'�e pla� there- of on file aaz of record in the office of the ReSistez of Deeds in and for Anoka County, except that part thereof described as follows: The north 108 feet of the west 215 feet of the nozthwest quarter of the northwest quarter (NW1/4 Nwl/4) of section 25, township 30 north, rance 24 west, and except t'�e west 50 feet thereof: wh�c:� lies ncrthwesterly of the following descri�ec l:ae: Beginning at a point on the south line of northwest CLa:ter of the nort.�west quarter tant 25 feet eas� of its intersectier. with west 50 feet of said northwest quarter of thence zuri southwesterly to a point on the feet, di=tant 49.5 feet north of the south there terminating; containing 0.01 acze, more or less; the north 30 f eet o+ the of saic sectior. 25, dis- the east line of the the northWest quarter; east line of said west 50 line of said Lo t 2 anc togethez with all riqht of access, being the right of ingress to and egzes= from that portion of the a.bove desczibec tract, not ac- quired hezein, to Trunk Highway No. 694; except that the abutting owner shall re tain the rie_ht of access southerly of a point distant 148.1 feet southerly of the aorth line of said section 25 (when measured along the west line of said section 25). I—A-21 The right of ingress to and egzess tzom the above described tract, t,c Tzur�ic �iqhvay No. 65 was pzeviously acquized and limited in Paz- c�l 230, S.l. 0207-0� I65s5-34) , State va. Dooiqes-Ouqer, •t al. �►ISD � AUD StrH i153 CITY OF FRIDLEY GIL-MOR, INC. � LEASED TO THE lCROGER CO - LOT 2 AUD SZE #153-EX RT OF WAY - EX PT TO GIL MGR INC RT OF ACCESS FY ST OF M22r'Ir BEING THE RT OF INGrZESS TO THE FOL DES. TR TO TRK HwY #65 - SUBJ TO PC,'8 UTZL EASE OF w 39 5 OF L�' 2-( EXCEPT PT TO HYTti'Y 4 7) - S L'BJ TO A:.i. � EGRESS FROI�! OVER E 50 F: AQD 5 UB # 15 3 C Z TY OF FRZ DLEY GIL-MOR, INC .- LEASED TO TFiE I{�OGER CO - LOT 3 AUD Sub #153-EX RT OF WAY - SUHJ TO ALL R:5 OF ACCE55 TO 5? OF MSNN BEING TFiE RT OF INGRES� TO 6 EGRE55 FROM SD TR TO TRR HW:' �fi� SLn� TO P�� UTI:. EASE OVER E�0 F: OF ti 395 FT OF LOT 3 AIID DUB #153 CITY OF FRIDLEY GZL-:KOR, II3C .- LE�.SED TO TFiE Rr'tOGER CG - � IAT 4 AIID SCz #153-EX RT OF WAY - SUBJ TO ALL RT OF ACCESS TO ST OF MINN BEINC THE RT OF ZNGRESS TO i EGRE55 FROM SD TR SUBJ TO pp8 IITIL EASE OVER E 50 FT OF i�l 395 FT OF LOT 4 1►QD SUS �153 CZTY OF FRZDLEY GZL-i�'lORE , INC . LOT 5 AUD SUB #153-EX RT OF WAY SUBJ TO PU8 UTZL EASE OVER E 50 F; OF W 395 FT OF LOT 5- SUBJ TO DRZVEWAY EASE OVER E 50 FT OF w 395 FT OF LOT S 6016-65 (ex #465) AUD SUB #77-RFV- CITY OF FRIDLEY DAISY A OSHORNE, CAROL BENTRUD, SOPI3IA M OBSORNE, WALTER F. OSBORNE, JR., wAR1�N A OSBORNE AND DELORES E UTTER CP JEROME �1 BERNSTEIN PT OF LOT 5. REV AUD SIIB �77 DESC AS FOLLOWS, T� PT OF NE 1/4 OF SEC 10 30 24 DESC AS FOL, COM AT THE POINT OF INTERSFCTION OF THE CENTERLINE OF OSBORNE RD idITH ELY RT OF WAY LINE OF NORTHERN PACIFIC Re�ILROAD, TH NELY ALONG SD CENTERLINE OF OSBORNE ROAD 436.50 FT TO TI� POIIv'T OF BEG. OF Ti� LAND TO BE SEREINAFTER DESCRIBED, Z'� DEFI.ECTING TO THE LEFT 66 DEG 43 MIN 20 SEC A DZST OF 436.50 FT, TH SWLY pARALLEL i�1ITH T� CENTERLZNE OF SD OSBORNE RD TO THE ELY RT OF WAY LINE OF THE NORTBERN PACIFZC RAILROAD, TFi N'WLY ALONG SD ELY RT OF WAY LINE TO TSE N LINE OF SEC 10, TH E ALONG THE N LINE OF SEC 10 TO THE NE CORNER THEREOF, TH 5 ALONG T� E LINE OF SEC 10 TO THE POINT OF ITS INTERSECTION WITB TiiE CENTERLINE OF OSBORNE ROAD, Tii SWLY ALONG SAID CENTERLSNE OF OSBORNE ROAD TO THE POZNT OF BEGINhiNG, i�TSZC.S LANDS ARE AL50 DESC AS PART OF LOT 5. REVISED AIID SU8 #77. - SL'BJ TO EASEMENTS OF RECORD TO TH£ I�LS GAS CO3 THE ST PAIIL BQARD OF f�iATER COI�4s. , TBE N SCBORSAN SAINTARY SEWER DIST, c FURTHER SVBJ TO THE PVBLIC ROAD EASE FOR OSBORNE ROAD -(Subj. to ease. N.S.P. dated 11-20-69) . I-A-2m � 0 EXHIBIT I-A-3 AS MODIFIED JUNE 26, 1989 P.I.N. 12-30-24-24-0004 12-30-24-24-0005 12-30-24-24-0006 12-30-24-24-0044 12-30-24-24-0043 12-30-24-24-0042 12-30-24-24-0009 12-30-24-24-0010 12-30-24-24-0011 12-30-24-24-0012 12-30-24-24-0013 12-30-24-24-0014 12-30-24-24-0015 12-30-24-24-0016 12-30-24-24-0017 12-30-24-24-0018 12-30-24-24-0019 12-30-24-24-0020 12-30-24-24-0021 12-30-24-24-0022 12-30-24-24-0045 12-30-24-24-0028 12-30-24-24-0029 12-30-24-24-0030 12-30-24-24-0048 12-30-24-24-0038 12-30-24-24-0039 12-30-24-24-0040 12-30-24-24-0041 12-30-24-13-0091 12-30-24-13-0083 12-30-24-13-0019 12-30-24-31-0053 12-30-24-31-0055 12-30-24-31-0057 12-30-24-31-0031 12-30-24-31-0056 12-30-24-31-0001 12-30-24-41-0001 12-30-24-31-0008 12-30-24-31-0010 12-30-24-31-0012 12-30-24-31-0011 12-30-24-31-0025 I-A-3 ! 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'2 �s�::-�+ -M+►• i__ •.�,.F��:=�+-- L— . � : } '"4 " _. - � ` / c ; . ..0 �To�s : :ue r -co ca� ; . �.- - ! i 41 , �� "� / ' '': � 39 ; ' :�Z• _� s T.e„� i e s- � • b • , . •::: � • . — -- .a...� _� �-.�.��.» � : .... ,�.�.� 1 .. Ii� � ��" .oi � iar�,~,� I� � � � � f `� �*� � I �Yffif(j j� . .� "" _� , '�_ _ _ ' _ '—' •' � � --_ _� Q- • ' .. � . / � �. �ec r"'qtf0r�,_ �' • c j _ L - ' � � � C / � •�� r , ,� � . �. � � .• � �' • _ ' . �. ��•a� �� • � t , � �qtt�� . y� � •.. i . �. - 1 � l � •� ` I• '� e _ � % T � � CE7'1fTRA�- VIEN'� i ` -•-•ii/ NAR , � . � - - � `'�•..� ' -, � " ' �''� � 21�d i�' ADDVTJAN � � � • _., ' : . � .� � � jr , .' � � `' . .. , f� � 4� (�� 6a ��a l.> W � (� (w � �� s�► . , , `` �qr� �- �: ,r � 3 '' S : f I � .o /1 N • . � � e �' .`` �+f,\ �, 3 � p s o > > > > >� s �s i� �s � ... OM�ts• �� 'w' s 73 I/2 AVE. N.E. 2 - -- • --- -- �•,,:" • • . �... .._, . ` IM�Iq � •/N�IY —,,'' 3 s��1 �' �, ' � ~�"�2 s°�� - I-B-5 SECTION X TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 9 (OLD CENTRAL/ONAN) Subsection 10.1. Statement of Obiectives. See Section I, Subsection 1.5. Statement of Objectives. Subsection 10.2. Modified Redevelopment Plan. See Section I, Subsections 1.2. through 1.15. Subsection 10.3. Parcels to be Included. The boundaries of Tax Increment Financing District No. 9 are described on the attached Exhibit X-A and illustrated on Exhibit X-B. Subsection 10.4. Parcels in Accruisition. The Authority may publicly acquire and reconvey any or all of the parcels in Tax Increment Financing District No. 9 identified on the attached Exhibit X-A. The following are conditions under which properties not designated to be acquired may be acquired at a future date: (1) The City may acquire property by gift, dedication, condemnation or direct purchase from willing sellers in order to achieve the objectives of the Tax Increment Financing Plan; and (2) Such acquisition will be undertaken only when there is assurance of funding to finance the acquisition and related costs. Subsection 10.5. Develovment Activitv for which Contracts have been Signed. As of the date of adoption of the Tax Increment Financing Plan, the City intends to enter into a Development Agreement with the following developer: Onan Corporation, for the construction of 350,000 square feet of office/warehouse space and 50,000 square feet of office space with a total construction cost estimated at $13.5 million and anticipated construction completion in 1993. Subsection 10.6. SAecific Develovment Exoected to Occur. At this time it is anticipated that a facility providing 350,000 square feet of office/warehouse space and 50,000 square feet of office space will be constructed. 10 - 1 � Subsectioii 1p,7, Prior Planned Im�rovements. The Authority � shall, after due and diligent search, accompany its request for certificAtion to the County Auditor or its notice of district enlargement with a listing of all properties within Tax Increment Financing District No. 9 for which building permits have been issued during the eighteen (18) months immediately preceding approval of the Tax Increment Financing Plan by the Authority. The county Auditor shall increase the original tax capacity of Tax Increment Financing District No. 9 by the tax capacity of each improvement for which the building permit was issued. If said listing does not accompany the aforementioned request or notice, the absence of such listing shall indicate to the County Auditor that no building permits were issued in the eighteen (18) months prior to the Authority's approval of the Tax Increment Financing Plan. Subsection 10.8. Fiscal Disparities. The Authority hereby elects the method of tax increment computation set forth in Minnesota Statutes, Section 469.177, Subdivision 3, clause (a) if and when commercialfindustrial development occurs with Tax Increment Financing District No. 9. Subsection 10.9. Estimated Public Imorovement Costs. The estimated costs associated with Redevelopment Project No. 1 are listed in Section I, Subsection 1.9. Subsection 10.10. Estimated Amount of Bonded Indebtedness. It is anticipated that $0 of bonded indebtedness will be incurred with respect to this portion of Redevelopment Project No. 1 at this time. Pursuant to Minnesota Statutes, Section 469.178, Subdivision 1, General Obligation Tax Increment Bonds may be used as required to amortize the casts identified in Section I, Subsections 1.9. and 1.10. It is further anticipated that future bond sales will be based on availability of tax increment. It is also contemplated that future bonds will not be issued at one time but as they are needed. Subsection 10.11. Sources of Revenue. The costs outlined in Section I, Subsection 1.9. will be financed through the annual collection of tax increments. Subsection 10.12. Estimated Oriainal and Captured Tax Canacities. The tax capacity of all taxable property in Tax Increment Financing District No. 9, as most recently certified by the Commissioner of Revenue of the State of Minnesota on January 2, 1989, is estimated to be $1,083,206. 10 - 2 The estimated captured tax capacity of Tax Increment Financing District No. 9 upon completion of the proposed improvements on January 2, 1994 is estimated to be $557,250. Subsection 10.13. Tax Cavacitv Rate. The current total tax capacity rate is .97756. Subsection 10.14. Tax Increment. Tax increment has been calculated at approximately $544,745 assuming a static tax capacity rate and a valuation increase of two and one-half percent (2.5�) compounded annually. Subsection 10.15. Tvpe � Tax Increment FinancinQ District. Tax Increment Financing District No 9 is, pursuant to Minnesota Statutes, Section 469.174, Subdivision 10, a Redevelopment District. , � Subsection 10.16. Duration of Tax Increment Financinq District. The duration of Tax Increment Financing District No. 9 is expected to be twenty-five (25) years from receipt of the first tax increment. The date of receipt of the first tax increment is estimated to be July, 1991. Thus, it is estimated that Tax Increment Financing District No. 9, including any modifications for subsequent phases or other changes, would terminate in the year 2015. Subsection 10.17. Estimated Im�act on Other TaxinQ Jurisdictions. The estimated impact on other taxing jurisdictions assumes construction would have occurred without the creation of Tax Increment Financing District No. 9. If the construction is a result of tax increment financing, the impact is $0 to other entities. Notwithstanding the fact that the fiscal impact on the other taxing jurisdictions is $0 due to the fact that the financing would not have occurred without the assistance of the City, the attached Exhibit X-E reflects the estimated impact of Tax Increment Financing District No. 9 if the "but for" test was not met. Subsection 10.18. Modification of Tax increment Financincx District and or Tax Increment Financincx Plan. As of June 26, 1989, no modifications to Tax Increment Financing District No. 9 or the Tax Increment Financing Plan therefore has been made, said date being the date of initial approval and adoption thereof by the City Council. 10 - 3 � � � EXHIBIT X-A BOUNDARIES OF TAX INCREMENT FINANCING DISTRICT NO. 9 OLD CENTRAL/ONAN AS ORIGINALLY ADOPTED JUNE 26, 1989 P.I.N. 12-30-24-24-0044 12-30-24-24-0043 12-30-24-24-0010 12-30-24-24-0011 12-30-24-24-0012 12-30-24-24-0013 12-30-24-24-0014 12-30-24-24-0015 12-30-24-24-0016 12-30-24-24-0017 12-30-24-24-0018 12-30-24-24-0019 12-30-24-24-0020 X-A-1 P.I.N. 12-30-24-24-0021 12-30-24-24-0022 12-30-24-24-0045 12-30-24-24-0028 12-30-24-24-0029 12-30-24-24-0030 12-30-24-24-0038 12-30-24-24-0039 12-30-24-24-0040 12-30-24-24-0041 12-30-24-13-0019 12-30-24-31-OOF7 12-30-24-31-0001 12-30-24-41-0001 _ _ __ _- ._=' _< • _ ;,.. • '°- '� � `-"�'�'.`� '• � ', _ , .,: ; .•r - _ °'""`- — - -- - C«,_"' �� '- - • - - ;, _ ' {��j Tm D y%'� i �'` . 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' 38 _ ;e�� ` � � �...... 3 - ... _.: ��+ ; �—..-.t.._ : . r ; . �u0itpni; ..'r SU! !!4 -CO .�DOt i / � i ' ' . No.� es ' a' . ^' i '� � 39 3 - • - .�. " ,,, : _ '; _ :s.-�_s��-a��9..�.b � ,..., � � ----r - _ --.4,.a.- -�... _ .... �....,. _ ^ ka I I~ i� 12':" !n) � doiru ►ta � �3 s ' , i � Y w�lGl� ...� M ' ^ ___' _ '—'— __� �—_ ,— _ '. t � ? � _ _ � • F � : F � � , _ _ �. ' � � a :: r�• W ' - _ � . � � •• ; :., � •+�� E• •. � � Z�, 't +. ' j �` , ` _ ■ � ' � •:.. � . cEl�riR�• : j/jEwr;. ...., N� ,(� , `•... o � ''' - 2�d i ` .�, �r� AAQFTJrGyy . � ... : ` . . .,,,� � _ � :� . j, . w - � �. • � : � � , ('� ' b� �.� (�� .� W (� (� � �.� � � - ' �w,,� � ; � z 3 ■ .. : : � . , ,o , ,: �, ,. ., . aZ� - r ps o , z, , s,s � s 9 �,w,:.:: ,,.,�'-,.• . - _ � --' --- =- :. �..;. 31/2 AVE. N.E. _ "`" N � M� �� . . 44 .«.....w...a. - _, � _ _ ,�, `�, �, r� i � r�`�; ' � � : ta �.. =. ,s'� .' �3 � S � � � ` • ii ir i� ,v isr•s �� Z� � is .,-� . .. � X-B-1 � ' OS-Jun-89 a EXHIBIT X-C CITY OF FRIDLEY/ONAN PROJECT PHASED CONSTRUCTION 1990 - 1993 350,000 SF OFFICEJWAREHOUSE AND 50,000 SF pFFICE SPACE 2.5x ANNUAL INFLATION ------------------------------------------------------------- ORIGINAL ESTIMATED CAPTURED ESTIMATED �R OF TAX TAX TAX TAX YEARS DATE CAPACITY CAPACITY CAPACITY INCREMENT 0.0 0. 5 1.0 1.5 2.0 2.5 3. 0 3. 5 4.0 4.5 5. 0 5. 5 6.0 6. 5 7. 0 7. 5 8.0 8. 5 9.0 9. 5 10.0 10. 5 11.0 11.5 12.0 12. 5 13.0 13. 5 14.0 14. 5 15.0 6 89 1,083,206 1�083�206 0 12 89 1,083,206 1�083.206 0 6 90 1,083,206 1�083,206 0 12 90 1�083,206 1,083�206 0 6 91 1.083.205 1�270.256 187,050 12 91 1,083,206 1.270.256 187.050 6 92 1�083�206 1�493.156 409.950 12 92 1,083,206 1,493,156 409,950 6 93 1,093,206 1.592,006 508,800 12 93 1,083,206 1�592,006 508,800 6 94 1.083,206 1.640.456 557.250 12 94 1,083,206 1,640,456 557.250 6 95 1,083,206 1,681,467 598,261 12 95 1,083,206 1,681,467 598,261 6 96 1,083,206 1,723,504 640,298 12 96 1�083.206 1�723,504 640,298 6 97 1,083,206 1,766,592 683,386 12 97 1�083,206 1,766,592 683,386 6 98 1,083,206 1,810,756 727,550 12 98 1,083,206 1.810,756 727.550 6 99 1�083.206 1�956.025 772.819 12 99 1�083.206 1,956.025 772.819 6 0 1,083,206 1�902,426 819,220 12 0 1,083,206 1�902.426 819,220 6 1 1�083,206 1,949.987 866.781 12 1 1,083,206 1,949,987 866.781 6 2 1,083.206 1�998.736 915.530 12 2 1.083.206 1�998,736 915,530 6 3 1,083,206 2.048.705 965.499 12 3 1,083�206 2.048.705 965.499 6 4 1�083,206 2.099,922 1,016,716 0 0 0 0 0 0 91.426 91,426 200,375 200,375 248,691 248.691 272,373 272,373 292,418 292.418 312,965 312,965 334,025 334,025 355,612 355,612 377�739 377�739 400.418 400,418 423.665 423.665 447,493 447,493 471,916 AOMIN FEES 0 0 0 0 0 0 4�571 4.571 10�019 10,019 12,435 12.435 13.619 13.619 14,621 14,621 15.648 15.648 16,701 16,701 i �, �ei 17�781 18.887 18.887 20.021 20.021 2t,183 21�183 22.375 22,375 23. 596 AVAILABLE TAX INCREMENT 0 0 0 0 0 0 86,855 86,855 190.357 190�357 236.257 236,257 258.754 258.754 277,797 277,797 297,317 297.317 317,324 317,324 337,832 337�832 358,852 358,852 380.397 380,397 402.482 402.482 425,118 425,118 448,327 SEMI ANNUAL Cl�1LATIVE P. V. P. V. 0 0 0 p 0 p 0 p 0 0 0 0 64.813 64,813 61�726 126,539 128.841 255,380 122,706 378.085 145.041 523.126 138.134 661,261 144,084 805.345 137.223 942.567 140,307 1.082.874 133.625 1,216,499 136.204 1.352,703 129.118 1.482.422 131,855 1.614,276 125,576 1,739,852 127.325 1.867,177 121�262 1,988,439 122,673 2.111,113 116.832 2.227,945 117�949 2.345,894 112.332 2,458�226 113,194 2.571,420 107.804 2.679,224 108,445 2.787.669 103,281 2.890,950 103.731 2,994,682 7.9A6,319 399,316 7.587.003 2.994.682 2,994.682 _¢====cccaacxsn=s=m=nms=c===5=zc=xa =e=====so==oc==c=c===a==e:ccxame_aesevcc=a==saoo=z===c==x=a=ec_===c=c:=zse= CASSERLY hqIZAFIN � ASSOCIATES/ONAN X-C-1 PAGE 1 � �Jun-89 ORIGINAL TAX CAPACITY WAREHOUSE OOST/S.F. TOTAL SQUARE FOOTAGE CONSTRUCTION YEAR SQUARE f00TAGE 1/2/91 ESTIMATED MARKET VALUE 1J2J91 ESTIMATED TAX CAFACITY 1/2/9� CONSTRUCTION YEAR SQUARE FOOTAGE 1/2/92 ESTIMATED MARKET VALUE 1/2/92 ESTIMATED TAX CAPACITY 1/2/92 CONSTRUCTION YEAR SQUARE FOOTAGE ��2�93 ESTIMATED MARKET VALUE 1/2/93 ESTIMATED TAX CAPACIT`I 1!2/93 CONSTRUC'TIQN YEAR SQUARE FOOTAGE ��2�� ESTIMATED MARKET VALUE 1/2/94 ESTIMATED TAX CAPACITY 1/2/� OFfICE COST/S.F. CONSTRUCTION YEAR TOTAL SW%►RE F007AGE 112/92 ESTIMATED MARKET VALUE 1/Z�92 ESiIIMTEO TAX CAPACITY 1/2/92 TAX CAPACITY RATE INFLATION FACTOR - ESTIMATED VALUE ADMIN FEES PRESENT VALUE RATE CITY OF FRIDI.EY/ONAN PR0.)ECT 1,083.206 � 350.00� 1990 150.000 3.600.000 187.050 1991 80,000 1,920.000 98,850 1992 60,000 1.920.000 98.850 1993 40.000 960,000 48�450 60 1991 50�000 2�400.000 124�050 0.977560 2.500x S.00Ot 10.000x CASSERLY hqLZAHi � AS.SOCIATES/OWW X-C-2 PAGE 2 � EXHIBIT X-D "BUT FOR" ANALYSIS � \ Onan Corporation is expanding its office and office/warehouse space south of its existing facility. This parcel along with adjacent parcels are located in an area which has long been determined as being blighted, and which the City has actively promoted development and redevelopment. The new facility will provide approximately 350,000 square feet of office/warehouse space and 50,000 square feet of office space. In addition, approximately 140 employment positions will be relocated into the City, thereby providing additional consumers for existing retail and restaurant facilities. The project will also add over $10.0 million of additional market valuation to the City's tax base. In order to proceed with the development, substantial public improvements are required. In addition to land acquisition, substantial demolition, relocation, soil corrections, street improvements and sewer extensions are required. Additionally, the City will be able to provide for increased bikeway and walkway trails and maintain additional open space area. The need for tax increment is to assist in these increased costs and help provide the public assistance which makes this development possible. Without tax increment assistance, the project as proposed on this site would not be economically feasible and would not proceed in the foreseeable future. X-D-1 � � EXHIHZT X-E ESTIMATED IMPACT OF TAX INCREMENT FINANCING DISTRICT N0. 9 ON OTHER TAXING JURISDICTZONS IMPACT ON TAX BASE ------------------ TAX CAPACITIES DISTRICT -------------------------------- $ OF ENTITY TAX BASE ORIGINAL ESTIMATED CAPTURED TOTAL --------------------------------------------------------------------------------------- City of Fridley 25,799,307 1,083,206 1,640,456 557,250 2.160� County of Anoka 149,612,820 1,083,206 1,640,456 557,250 0.372$ ISD #16 18,025,730 1,083,206 1,640,456 557,250 3.091$ IMPACT ON TAX CAPACITY RATE --------------------------- CURRENT POTENTZAL TAX CAPACITY TAX CAPACITY �t OF TAX RATE ENTITY RATE TOTAL INCREMENT INCREASE * --------------------------------------------------------------------------------------- City of Fridley 0.1249i 13$ 69,612 0.276� County of Anoka 0.27425 28� 152,826 0.103$ ISD #16 0.51607 53� 287,580 1.646� Other 0.0623Z 6$ 34,728 0.97756 100$ 544,745 * Assumes the construction would have occurred without the creation of a Tax Increment Financing District. If the construction is a result of Tax Increment Financing, the impact is S0. X-E-1 \ \ \ � � FOR CONCURRENCE BY THE CITY COUNCIL Claims 26960-27005