2020-10 Authorize Exec and Del of Roers Cont
HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE
CITY OF FRIDLEY
COUNTY OF ANOKA
STATE OF MINNESOTA
RESOLUTION NO. 2020 - 10
A RESOLUTION AUTHORIZING EXECUTION AND DELIVERY OF A
CONTRACT FOR PRIVATE REDEVELOPMENT BETWEEN THE
HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE
CITY OF FRIDLEY AND ROERS FRIDLEY APARTMENTS OWNER LLC
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 enter into a Contract for Private
Redevelopment (the “Contract”) with Roers Fridley Apartments Owner LLC (the
“Redeveloper”).
Section 2. Findings.
2.01 The Authority hereby finds that it has approved and adopted a
development program known as the Redevelopment Plan for its Redevelopment Project
No. 1 (the “Redevelopment Program”) pursuant to Minnesota Statutes, Section 469.001
et seq., as amended and supplemented from time to time.
2.02 The Authority hereby finds that it has approved and created Tax Increment
Financing District No. 25 and approved and adopted the Tax Increment Financing Plan
relating thereto pursuant to Minnesota Statutes, Section 469.174 et seq., as amended
and supplemented from time to time.
2.03 The Authority hereby finds that the Contract promotes the objectives set
forth in its Redevelopment Program.
HRA Resolution 2020 – 10 Page 2
Section 3. Authorization for Execution and Delivery.
3.01 The Chairman and the Executive Director of the Authority are hereby
authorized to execute and deliver the Contract when the following conditions are met:
(a) Substantial conformity of the Contract to the form of Contract
presented to the Authority as of this date, with such additions and
modifications as the Officers may deem desirable or necessary as
evidenced by their execution of the Contract.
PASSED AND ADOPTED BY THE HOUSING AND REDEVELOPMENT AUTHORITY
RD
IN AND FOR THE CITY OF FRIDLEY THIS 3 DAY OF SEPTEMBER, 2020.
________________________________
WILLIAM B. HOLM - CHAIRPERSON
ATTEST:
_________________________________________
WALTER T. WYSOPAL - EXECUTIVE DIRECTOR