RES 1991-51 - 0000368467
RESOLUTION NO. 51 - 1991
A RESOLUTION MODIFYING THE REDEVELOPMENT PLAN
FOR REDEVELOPMENT PROJECT NO. 1 AND MODIFYING
THE TAX INCREMENT FINANCING PLANS FOR TAX
INCREMENT FINANCING DISTRICTS NO. 1 THROUGH
NO. 10 TO REFLECT INCREASED PROJECT COSTS AND
INCREASED GEOGRAPHIC AREA WITHIN REDEVELOPMENT
PROJECT NO. 1; AND ESTABLISHING PROPOSED TAX
INCREMENT FINANCING DISTRICT NO. 11 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,
approve and adopt the Modified Redevelopment Plan for Redevelopment
Project No. 1 to reflect increased project costs and increased
geographic area, 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, approve and adopt the Modified Tax
Increment Financing Plans for Tax Increment Financing Districts
No. 1 through No. 10 to reflect increased project costs and
increased geographic area within Redevelopment Project No. 1,
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 establishment of proposed Tax
Increment Financing District No. 11 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. 10 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. 11, 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. 51 - 1991
1.05. The Authority and the Council have performed all actions
required by law to be performed prior to the modification, approval
and adoption of the Modified Redevelopment Plan for Redevelopment
Project No. 1 and the Modified Tax Increment Financing Plans for
Tax Increment Financing Districts No. 1 through No. 10, and prior
to the establishment of proposed Tax Increment Financing District
No. 11 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, approve and adopt the Modified Redevelopment Plan for
Redevelopment Project No. 1 to reflect increased project costs and
increased geographic area; to modify, approve and adopt the
Modified Tax Increment Financing Plans for Tax Increment Financing
Districts No. 1 through No. 10 to reflect increased project costs
and increased geographic area within Redevelopment Project No. 1;
and to establish proposed Tax Increment Financing District No. 11
and to approve and adopt the proposed Tax Increment Financing Plan
relating thereto.
Section 2. Findings.
' 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 the 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, approval and adoption of the Modified Redevelopment
' Plan for Redevelopment Project No. 1; the modification, approval
and adoption of the Modified Tax Increment Financing Plans for Tax
Increment Financing Districts No. 1 through No. 10; and the
establishment of Tax Increment Financing District No. 11 and the
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Page 3 - Resolution No. 51 - 1991
' approval and adoption of the 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. 11 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. 11, 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, the Modified Tax Increment
Financing Plans, the proposed Tax Increment Financing Plan and
Exhibit A of this Resolution.
Section 3. Modification, Approval and Adoption of the Modified
Redevelopment Plan for Redevelopment Project No. 1.
3.01. The modification of the Modified Redevelopment Plan for
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. Modification. Approval and Adoption of the Modified Tax
Increment Financing Plans for Tax Increment Financing Districts No.
1 through No. 10.
4.01. The modification of the Modified Tax Increment Financing
Plans for Tax Increment Financing Districts No. 1 through No. 10
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.
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Page 4 - Resolution No, 51 1991
' Section 5. Approval of the Establishment of Proposed Tax Increment
Financing District No. 11 and the Approval and Adoption of the
Proposed Tax Increment Financing Plan Relating Thereto.
5.01. The establishment of proposed Tax Increment Financing
District No. 11 within Redevelopment Project No. 1 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.
6.01. Upon approval and adoption of the Modified Redevelopment
Plan, the Modified Tax Increment Financing Plans and the proposed
Tax Increment Financing Plan (collectively the "Plans "), the City
shall cause said Plans to be filed with the Commissioner of
Revenue.
PASSED AND ADOPTED BY THE COUNCIL OF THE CITY THIS 1ST DAY OF JULY,
1991.
WILLIAM J. NEE -QMkYOR
ATTEST:
SHIRLEY A. MAAPALA - OTTY CLERK
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EXHIBIT A TO RESOLUTION NO. 51 - 1991
1 The reasons and facts supporting the findings for the proposed Tax
Increment Financing Plan for proposed Tax Increment Financing
District No. 11 as required pursuant to Minnesota Statutes, Section
469.175, Subdivision 3, are as follows:
1. Finding that proposed Tax Increment Financing District No. 11
is an "redevelopment district" as defined in Minnesota Statutes,
Section 469.174, Subdivision 10.
Proposed Tax Increment Financing District No. 11 consists of four
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, 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.
City staff has reviewed the available costs for the development
including the costs of the public improvements and the
rehabilitation of existing structures. Due to these high costs,
the project would not be financially feasible without the City's
assistance.
' 3. Finding that the proposed 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
proposed Tax Increment Financing Plan for proposed Tax Increment
Financing District No. 11 and has determined that the proposed Tax
Increment Financing Plan for proposed Tax Increment Financing
District No. 11 conforms to the comprehensive plan of the City.
4. Finding that the proposed Tax Increment Financing Plan for
proposed Tax Increment Financing District No. 11 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 (two commercial facilities) will be
located within proposed Tax Increment Financing District No. 11 and
will consist of the rehabilitation of one or more existing
buildings and the construction of a new building. The
rehabilitation and construction will eliminate a blighting
influence, increase the tax base and provide additional job
opportunities.
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