HRA RES 1981-12 - 00014081�o.� � • :r,
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WHEREAS, the Fridley Housing and Redevelopment Authority and the Fridley
City Council has approved the North Area Redevelopment Plan; and
WIiEREAS, the Housing and Redevelopment Authority has deteIInined to use Tax
Increnent Financ�.ng as allowed by Chapter 273.71 of the laws of rSinnesota;
and
WEiERF,FIS, Tax Incranent Plan is wholly situated Redevelopment District
known as the North Area within a duly constituted Redevelopment District
as allowed under Chapter 462 of the laws of l�linnesota; and
WHERF'.AS. Tax Increnent Plan to the North Area Redevelop[n�nt Area has been
presented to the taxing jurrsdictions for their review and comment as
required by Chapter 273 J4, Subdivision 2 of the laws of Minnesota; and
WHEREAS, the Fridley Housing and Redevelopment Authority has determined
that the Tax Increnent Plan shall be classified as a redevelopment pro�ect
as defined in Chapter 273.73, S1�bdivision 10 of the laws of P7innesota; and
� WHII2EAS, development ox redevelopment in the district, in the opinion of
the Housing and Redevelopment Authority, woulcl not occur solely through
-- private investment within the reasonably forseeable future.
WHERF.FSS, the tax �ncrenent fulancing plan conforms to the general plan for
development of the Munici�lity as a whole.
WHEREAS, the tax increnent financing plan will afford maximiun opportunity,
consistent with the sound needs of the municipalrty as a whale, for the
develoFxnent of the district by private enterprise.
NO[^7� THEREFI�RE� BE IT RE,SOLVID BY THE HOUSING AND RIDEVEfAPN1ENT AUTFIORITY
OF FRIDI�EY, MINNESOTA:
1. Tk�at the Tax Incranent Plan to the Aiorth Area Redevelopment Area is
approved and adopted by the Housing and Redevelopment Authority;
2. That the Housing and Redevelopment Authority shall insure that a11
relocation shall be in accordance with all appropriate State and
Federal relocation requiranents;
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3. That all real property acquisition shall be determined in accordance
to the conditions as layed out in Tax Incranent Plan;
� 4. That the Housing and Redevelopment Authority make the necessary
application to the Fridley City Council for approval of the Tax
Inczenent Plan to the North Area Redevelopment Area, in the manner
required by law.
PFISSID AND ADOPTID $Y THE HOUSING AND RIDEVF,LOPP'fEN`I' OF '1'EIE CITY OF FkIDr,�'
TAIS 19�jj_ DAY OF NovPmhPr _�, 1981.
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L. BO�iRDMAN - EXECUPIVE DIRDCTOR
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