RES 1993-71 - 00003268ti�
RESOLUTION NO. 71 - 1993
' 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. 12 TO REFLECT
INCREASED PROJECT COSTS AND INCREASED GEOGRAPHIC AREA WITHIN
REDEVELOPMENT PROJECT NO. 1
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 by the Housing and Redevelopment Authority (the
"Authority ") that the Council modify 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 by the Authority that the Council modify the
Modified Tax Increment Financing Plans for Tax Increment Financing Districts No.
1 through No. 12 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. 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 to reflect increased project costs and increased geographic area and
Modified Tax Increment Financing Plans for Tax Increment Financing Districts No.
1 through No. 12 to reflect increased project costs and increased geographic area
within Redevelopment Project No. 1.
1.04. The Council has performed all actions required by law to be performed prior
to the approval and adoption of the Modified Redevelopment Plan for Redevelopment
Project No. 1 and of the Modified Tax Increment Financing Plans for Tax Increment
Financing Districts No. 1 through No. 12.
1.05. The Council hereby determines that it is necessary and in the best interests
of the City and the Authority at this time to approve and adopt the Modified
Redevelopment Plan for Redevelopment Project No. 1 to reflect increased project
costs and increased geographic area, and to approve and adopt the Modified Tax
Increment Financing Plans for Tax Increment Financing Districts
No. 1 through No. 12 to reflect increased project costs and increased geographic
area within Redevelopment Project No. 1.
Section 2. Findines.
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 and Modified
Tax Increment Financing Plans 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
and Modified Tax Increment Financing Plans conform
to the
general plan for the
development and redevelopment of the City as a
whole in that
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Page 2 -- Resolution No. 71 - 1993
' they are consistent with the City's comprehensive plan.
2.03. The Council hereby finds, determines, and declares that the Modified
Redevelopment Plan and Modified Tax Increment Financing Plans 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 redevelopment contracts with private developers.
2.04. The Council hereby finds, determines, and declares that the approval and
adoption of the Modified Redevelopment Plan for Redevelopment Project No. 1 and
of the Modified Tax Increment Financing Plans for Tax Increment Financing Districts
No. 1 through No. 12 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 and Modified Tax Increment
Financing Plans.
2.05. 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 and the
Modified Tax Increment Financing Plans,
Section 3. Modification of the Modified Redevelopment Plan for Redevelopment
Project No. 1.
' 3.01. The modifications to the Modified Redevelopment Plan for Redevelopment
Project No. 1 reflecting increased project costs and increased geographic area are
hereby approved and adopted by the Council of the City of Fridley.
Section 4. Modification of the Modified Tax Increment Financing Plans for Tax
Increment Financing Districts No. 1 through No. 12.
4.01. The modifications to the Modified Tax Increment Financing Plans for Tax
Increment Financing Districts No. 1 through No. 12 reflecting increased project
costs and increased geographic area within Redevelopment Project No. 1 are hereby
approved and adopted by the Council of the City of Fridley.
Section 5. Filing of Plans.
6.01. Upon approval and adoption of the Modified Redevelopment Plan and the
Modified Tax Increment Financing Plans (collectively the "Plans "), the City shall
cause said Plans to be filed with the Commissioner of Revenue.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 27TH DAY OF
SEPTEMBER, 1993.
WILLI . NEE - MAYOR
ATTEST:
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WILLIAM A. CHAMPA - CITY CL RK