RES 1989-57 - 00004227RESOLUTION NO. 57 - 1989
RESOLUTION MODIFYING THE REDEVELOPMENT PLAN FOR
REDEVELOPMENT PROJECT N0, 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 geographic area and
approve and adopt a Modified Redevelopment Plan relating thereto, pursuant
to and in accordance with Minnesota Statutes, Section 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,
Section 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.
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Page 2 - Resolution No. 57 - 1989
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. Findings.
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.
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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.
2.02 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.
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Page 3 - Resolution No. 57 - 1989
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.
Section 3. Approval of the Modification of Redevelopment Project No. 1 and the
Approval and Adoption of the Modified Redevelopment Plan relating
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. Approval of 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.
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. Approval of the Creation of Proposed Tax Increment Financing
District No 9 and the Approval and Adoption of the Proposed Tax
Increment Financing Plan relating 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. Filing of Plans.
103
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.
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Page 4 - Resolution No. 57 - 1989
104
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 26TH DAY OF
' JUNE, 1989
WILLIAM J. NEE - YOR
ATTEST:
v0 l �CC O a fcL
SHIRLEY A. 4MAPALA - CITY CLERK
CERTIFICATION
105
I, Shirley A. Haapala, the duly qualified Clerk of the City of Fridley, County
of Anoka, Minnesota, hereby certify that the foregoing is a true and correct
copy of Resolution No. 57 - 1989 passed by the City Council on the 26th day of
June, 1989
SHIRLEY A. YIAAPALA - C Y CLERK
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