HRA RES 1983-17 - 00013976�
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HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE
CITY OF FRIDLEY
COUNTY OF ANORA
STATE OF MINNESOTA
RESOLUTION N0.17-1983
A RESOLUTION ESTABLISHING TAX INCREMENT DISTRICT
N0. 4 WITHIN REDEVELOPMENT PROJECT NO. 1 AND
APPROVING AND ADOPTING A PROPOSED TAX INCREMEMT
FINANCING PLAN THEREFOR.
IT IS HEREBY RESOLVED by the Board of Co�nissioners of
the Housing and Redevelopment Authority in and for the City
of Fridley, Minnesota (the "Authority"), as follows:
1. It has been proposed that the Authority establish
Tax Increment District No. 4(the "District") within its
Redevelopment Project No. 1 and adopt a proposed 2ax Incre-
ment Financing Plan (the °Plan") relating thereto pursuant
to Minnesota Statutes, Sections 273.71 to 273.78, inclu-
sive. The proposed District and Plan are attached to and
made part of this resolution.
2. The Authority has
law to be performed prior
trict and the adoption of
performed all actions required by
to the establishment of the Dis-
the Plan.
3. The Authority hereby determines that it is neces-
sary and in the best interest of the City at this time to
establish the District and approve the Plan and to request
that the City Council hold a public hearing relating
thereto.
4. Subject to the approval of the District by the City
Council, the District is hereby established by the Author-
ity. The property included in the District shall be the
property described in the Plan.
5. The Plan is hereby approved and adopted by the
Authority, subject to City Council approval, as hereinafter
provided.
6. The Authority hereby requests the City Council to
call a public hearing to consider the establishment of the
District and the approval and adoption of the Plan, to cause
notice of said public hearing to be given as required by
law, and to take such other actions as may be required by
Minnesota Statutes, Section 273.74, Subdivision 3. The
Authority further requests that the City Council direct the
Planning Commission of the City to consider and comment on
whether the District and Plan are in accordance with the
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Comprehensive Plan of the City, prior to the public hearing
to be called by the City Council. The Executive Director of
the Authority is hereby directed to submit a copy of the
District and Plan to the City Council for its approval.
7. If and when approved by the City Council, the
Authority shall cause the District and Plan to be filed with
the Minnesota Energy and Economic Development Authority,
9. Upon approval of the District and Plan by the City,
the Authority shall request the County Auditor of Anoka
County to certify the original assessed value of all real
property within the District and Plan, and each year here-
after to certify the amount by which the assessed value has
increased or decceased from said original assessed value, to
certify the proportion vhich any such increase or decrease
bears to the total assessed value for the real property in
the District for that year, and to remit to the Authority
each year all taxes paid that year on real property in the
District on the captured assessed, all pursuant to Minnesota
Statutes, Section 273.76.
PASSID ADID ADOPPID BY 7f1E iiQJSII� AHI) RID�7T 14UTi30RPPY�F 1IiE CITY OF
FRIDLEY 41iIS l Oth I1AY OF l�ovPmbPr, 1983. % / r'`
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