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HRA RES 2010-04 HRA RESOLUTION NO. 2010-04 RESOLUTION APPROVING AND ADOPTING A RESTATED HOUSING REPLACEMENT DISTRICT PLAN FOR HOUSING REPLACEMENT DISTRICT NO. 1 INCLUDING PHASES I-IV AND APPROVING AND ADOPTING PHASE V FOR HOUSING REPLACEMENT DISTRICT NO. 1 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 approve and adopt a Restated Housing Replacement District Plan for Housing Replacement District No. 1 (the "Plan") and adopt Phase V to Housing Replacement District No. 1 (the "District"), pursuant to and in accordance with Minnesota Statutes, Sections 469.001 to 469.047 and 469.174 to 469.1799, inclusive, as amended and supplemented. This notice is also pursuant to the original statutory authority provided by Laws of Minnesota 1995, Chapter 264, Article 5, Sections 44 through 47 in which the Housing Replacement District Plan was originally approved and Housing Replacement District No. 1 was created. This original statutory authority was amended by Laws of Minnesota 1996, chapter 471, article 7, section 22, and Laws of Minnesota 1997, chapter 231, article 10, section 13, and Laws of Minnesota 2002, chapter 377, article 7, section 6, and Laws of Minnesota 2008, chapter 154, article 9, section 19, and Laws of Minnesota 2010, Chapter 216, Section 42. 1.02. The Authority has performed all actions required by law to be performed prior to the approval and adoption of the Plan and expansion of the District. 1.03. 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 Plan and Phase V for the District to achieve the Authority's and City's goal for acquiring blighted, undeveloped, or underdeveloped parcels for redevelopment or rehabilitation, and for resale as market rate housing. Section 2. Findings. 2.01. The Authority hereby finds that the adoption and implementation of the Plan is necessary to assure the development and redevelopment of market rate housing within the City. 2.02. The Authority hereby finds that the Plan conforms to the comprehensive plan of the City for the development and redevelopment of the City as a whole. 2.03. The Authority hereby finds that the Plan affords maximum opportunity consistent with the sound needs of the City as a whole for development and redevelopment within the - District by private enterprise. HRA Resolution No.2010-04 Page 2 2.04. The Authority hereby finds that the approval and adoption of the Plan and Phase V to the District is intended and, in the judgment of this Authority, its effect will be to promote the public purposes and objectives specified in the Plan. Section 3. Approval and Adoption of the Plan. 3.01. The Restated Housing Replacement District Plan is hereby approved and adopted by the Commissioners of the Authority. Section 4. Approval of Phase V to the District. 4.01. Phase V to the Housing Replacement District No. 1 is hereby approved and adopted by the Commissioners of the Authority. Section 5. Filing of Plan. 5.01. Upon approval and adoption of the Plan, the Authority shall cause said Plan to be filed with the Minnesota Department of Revenue, the Office of State Auditor and Anoka County. PASSED AND ADOPTED BY THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF FRIDLEY THIS 2nd DAY OF DECEMBER 2010. Patricia bel, Vice Chairman ATTEST: % �;� %.1 William W. Burns, Executive Director