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HRA RES 1986-12 - 00013784' RESOLUTION N0. HRA 12 - 1986 RESOLUTION RELATIY�G TO REDEVELOPMENT PRO.7ECT dd0_ 1 AND AMF.NDTNG THE MODIFIED REDEVELOPMENT PLAN RELATING THERETO PURSUANT TO THE PROVISIONS OF MINNESOTA STATUTES, SECTIONS 462 4ll TP 462.716, INCLUSIVE, A3 AMENDSD, AApD AAIEAFDING THE TAX INCREMENT EINANCING PLAABS RELATIAYG TO TAX INICREAIELdT EINANCILSG PLALdS RELATIApG TO TAR IALCREA�IEAqT FNANCING DISTRICTS N0, 2 THROUGH N0. 6 WSTHIN THE PROSECT AREA AND ESTABLISHIIaG TAX TACREPiE]NT FINANCIIIdG DISTRICT NOS. 7 AND 8 WITHIN THE PROJECT t1RF.A AND ADOPTING THE TAX INCRFMFNT FINANCING PLANS RELATIATG THERETO, PURSUAIYT TO THE PROVTSIONS OF MINNESOTA STATUTES, SECTIONS 273_71 TO 273.78, INCLUSIVE, AS AMENDED 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 O1 It has been proposed that, with respect to the Authority's Redevelopment Project No 1, that the Authority amend the Modified ' Redevelopment Plan relating thereto and established pursuant to and in accordance with Minnesota Statutes, Section 4652 411 to 462 716, inclusive, as amended, amend the Tax Increment Financing Plans relating to Tax Increment Financing Districts No. 2 through No 6 to reflect the revised project costs of the Modified Redevelopment Plan of Redevelopment Project No l, and establish Tax Increment Financing District Nos 7 and 8 and adopt the Tax Increment Financing plans relating thereto pursuant to and in accordance with Minnesota Statutes, Sections 273 71 to 273 78, inclusive, as amended 1 02 This Authority has investigated the facts and has caused to be prepared with respect thereto, the proposed amendment of the Modified Redevelopment Plan defining therein the public improvements to be made cvithin Redevelopment Pro�ect No 1 This Authority has also caused to be prepared, and has investigated the facts with respect to the establishment of proposed Tax Increment Financing Aistrict Nos 7 and 8 as stated in Ch proposed Tax Increment Financing P1ans relating thereto 1 03 The Authority has performed all actions required by law to be performed prior to the amendment of the Modified Redevelopment Plan, the amendment of the Tax Sncrement Financing Plans relating to Tax Increment Financing Districts No 2 through No 6, and the establishment of Tax Increment Financing District Nos 7 and 8 and the adoption of the proposed Tax Increment Financing Plans relating thereto and has requested the written opinion thereon of Che City's Planning Commission ' Page 2- Resolution No HRA 12 - 1986 ' 1 04 The Authority hereby determines that it is necessary and in the best interest of the City at this time to approve amendment of the Modified Redevelopment Plan, approve the amendment of the Tax Increment Financing Plans relating to Tax Increment Financing Districts No 2 through No 6, approve establishment of Tax Increment Financing District Nos 7 and 8 and adoption of the proposed Tax Tncrement Financing Plans relating thereto, and to request that the Fxidley City Council hold a public hearing relating to the above- stated matters SECTION 2 Approval of Amendment of Tax Increment Financing Plans Relating to Tax Increment Financing Districts No 2 through No 6 Su6ject to the finding, determination and approval of the amendment of the Tax Increment Financing Plans relating to Tax Increment Financing Districts No 2 thxough No 6 by the Council, the proposed amendments of the Tax Incxement Financing Plans relating to Tax Increment Financing Districts No 2 through No. 6 are hereby approved by the Commissioners of the Authority SECTION 3 Avnroval of Tax Increment Financine District Nos 7 and 8 Sub]ect to the finding, determination, and approval of the establishment of Tax Increment Financing District Nos 7 and 8 by the Council, proposed Tax Increment Financing District Nos 7 and 8 within Redevelopment Pro�ect No 1 are hereby approved by the Commissioners of the Authority ' SECTION 4 Approval of Amendment of Modified Redevelopment P1an and Establishment of Tax Increment Financing Plans The proposed amendment of the Modified Redevelopment Plan for Redevelopment Pro�ect No 1 and the establishment of the proposed Tax Increment Financing plans for Tax Increment Financing District Nos 7 and 8(collectively referred to as the "Plans"), a presented to the Authority on this date, are hereby approved and adopted by the Authority and shall be forwarded to the Council with the request that the Council hold a public hearing thereon, as required by law SECTION 5 Filing of Plans The Authority shall cause the plans, as amended and adopted, to be filed wzth the Minnesota Department of Eneregy and Economic Development SECTION 6 Certification of Assessed Va1ue Upon approval of the establishment of Tax Increment Financing District Nos 7 and 8 and the adoption of the proposed Tax Increment Financing Plans relating thereto by the Council, the Authority shall request the County Auditor of Anoka County (the "County Auditor") to certify the original assessed value of the real property within Tax Increment Financing District Nos 7 and 8, respectively, as descxibed in the Tax Increment Financing Plans relating hereto, and each year hereafter to certify the amount by which the assessed ' value has increased or decreased from the original assessed value of Tax Increment Financng District Nos 7 and 8 Page 3- Resolution No, HRA 12 - 1986 ' PASSED AND ADOPTED BY THE HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF FRIDLEY THIS 14TH DAY OF AUGUST, 1986 �, � � 1 �I yy /-� � J1.��C'LLLL+°zl ���'Lr.�v(.sv LAWRENCE COMMERS, CHAIRMAN ATTEST /��-. �^-� - �.�� NASIM M QURESHI, DIRECTOR ' '