HRA RES 1995-06 9
HRA RESOLUTION NO. 6 - 1995
RESOLUTION MODIFYING THE REDEVELOPMENT PLAN FOR
REDEVELOPMENT PROJECT NO. 1 TO REFLECT INCREASED
PROJECT COSTS AND INCREASED GEOGRAPHIC AREA WITHIN
REDEVELOPMENT PROJECT NO. 1, 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, AND CREATING TAX
INCREMENT FINANCING DISTRICT NO. 13 AND ADOPTING A TAX
INCREMENT FINANCING PLAN RELATING THERETO
BE IT RESOLVED by the Board of Commissioners (the "Commissioners") of the
Housing and Redevelopment Authority in and for the City of Fridley, Minnesota
(the "Authority") , as follows:
Section 1. Recitals.
1.01. It has been proposed that the Authority 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 that the Authority 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. It has been further proposed that the Authority approve the proposed
Tax Increment Financing Plan for proposed Tax Increment Financing District No.
13 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 investigated the facts and has caused to be prepared
with respect thereto, a Modified Redevelopment Plan for Redevelopment Project
No. 1 to reflect increased project costs and increased geographic area;
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; and a proposed Tax
Increment Financing Plan for proposed Tax Increment Financing District No. 13,
defining more precisely the property to be included, the public costs to be
incurred, and other matters relating thereto.
1.05. The Authority 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, of the Modified Tax Increment Financing Plans for
'— Tax Increment Financing Districts No. 1 through No. 12, and of the proposed
Tax Increment Financing Plan for proposed Tax Increment Financing District No.
13.
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Page 2 -- HRA Resolution No. 6 - 1995
1.06. The Authority 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; 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; and to approve
and adopt the proposed Tax Increment Financing Plan for proposed Tax Increment
Financing District No. 13.
Section 2. Findings.
2.01. The Authority hereby finds that the assistance to be provided through
the adoption and the 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 Authority hereby finds 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 Authority finds 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 redevelopment contracts with private
developers.
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 Commissioners of the Authority and are
forwarded to the Fridley City Council for public hearing, review, and
approval.
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 Commissioners of the Authority and are
forwarded to the Fridley City Council for public hearing, review, and
approval.
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'— Page 3 -- HRA Resolution No. 6• - 1995
Section 5. Approval of the Tax Increment Financing Plan and Establishment of
Proposed Tax Increment Financing District No. 13.
5.01. The establishment of proposed Tax Increment Financing District No. 13
within Redevelopment Project No. 1 and the proposed Tax Increment Financing
Plan relating thereto are hereby approved and adopted by the Commissioners of
the Authority and are forwarded to the Fridley City Council for public
hearing, review, and approval.
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 Authority shall cause said
Plans to be filed with the Commissioner of Revenue.
PASSED AND ADOPTED BY THE BOARD OF THE HOUSING & REDEVELOPMENT AUTHORITY OF
FRIDLEY, MINNESOTA, THIS 9TH DAY OF FEBRUARY, 1995.
(///L:t14;2 11110
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LAWRENCE R. tOMMERS - CHAIRMAN
ATTEST:
142;10/AmelL)TAXiLltmg!–
WILLIAM W. BURNS - EXECUTIVE DIRECTOR