Loading...
HRA RES 1991-04 - 00013851RESOLUTION NO. HRA 04 - 1991 1 A RESOLUTION MODIFYING THE REDEVELOPMENT PLAN FOR REDEVELOPMENT PROJECT NO. 1 AND MODIFYING THE TAX INCREMENT FINANCING PLANS FOR TAX iNCREMENT FINANCING DISTRICTS N0. 1 THROUGH NO. 10 TO REFLECT INCREASED PROJECT COSTS AND INCREASED GEOGRAPHIC AREA WITHIN REDEVELOPMENT PROJECT NO. 1; AND ESTABLISHING PROPOSED TAX INCREMENT FTNANCING DISTRICT NO. 11 AND APPROVING AND ADOPTING THE PROPOSED TAX INCREMENT FINANCING PLAN RELATING THERETO. 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 modify, approve and adopt the Modified Redevelopment Plan for Redevelopment Project No. 1 to reflect increased pro�ect costs and increased geographic area, pursuant to and in accordance with Minnesota Statutes, Sections 469.001 to 469.047, inclusive, as amended and supplemented from time to time. ' 1.02. It has been further proposed that the Authority modi£y, approve and adopt the Modified Tax Increment Financing Plans for Tax Increment Financing Districts No. 1 through No. 10 to reflect increased project costs and increased geographic area within Redevelopment Project No. 1, pursuant to Minnesota Statutes, Section 469.174 through 469.179, inclusive, as amended and supplemented from time to time. 1.03. It has been further proposed that the Authority approve the establishment of proposed Tax Increment Financing District No. 11 and approve and adopt the proposed Tax Increment Financing Plan relating thereto pursuant to and in accordance with Minnesota Statutes, Section 469.174 to 469.179, inclusive, as amended and supplemented from time to time. 1.04. The Authority has investigated the facts and has caused to be prepared with respect thereto, a Modified Redevelopment Plan for Redevelopment Project No. 1 reflecting increased project costs and increased geographic area; Modified Tax Increment FinanCing Plans for Tax Increment Financing Districts No. 1 through No. 10 reflecting increased project costs and increased geographic area within Redevelopment Project No. 1; and a proposed Tax increment Financing Plan for proposed Tax Tncrement Financing District No. 11, defining more precisely the property to be included, the public costs to be incurred and ' other matters relating thereto. Page 2- Resolution No. HRA 04 - 1991 ' 1.05. The Authority has performed all actions required by law to be performed prior to the modification, approval and adoption of the Modified Redevelopment Plan for Redevelopment Project No. 1 and the Modified Tax Increment Financing Plans for Tax Increment Financing Districts No. 1 through No. 10, and prior to the establishment of proposed Tax Increment Financing District No. 11 and the approval and adoption of the proposed Tax Increment Financing Plan relating thereto. 1.06. The Authority hereby determines that it is necessary and in the best interests of the City and the Authority at this time to modify, approve and adopt the Modified Redevelopment Plan for Redevelopment Project No. 1 to reflect increased project costs and increa5ed geographic area; to modify, approve and adopt the Modified Tax Increment Financing Plans for Tax Increment Financing Districts No. 1 through No. 10 to reflect increased project costs and increased geographic area within Redevelopment Project No. 1; and to establish proposed Tax Increment Financing District No. 11 and to approve and adopt the proposed Tax Increment Financing Plan relating thereto. Section 2. Findinas. ' 2.01. The Authority hereby finds that the assistance to be provided through the adoption and the implementation of the Modified Redevelopment Plan, Modified Tax Increment Financing Plans and proposed Tax Increment Financing Plan are necessary to assure the development and redevelopment of Redevelopment Project No. 1. 2.02. The Authority hereby finds that the Modified Redevelopment Plan, Modified Tax Increment Financing Plans and proposed Tax Increment Financing Plan conform to the general plan for the development and redevelopment of the City as a whole. 2.03. The Authority finds that the Modified Redevelopment Plan, Modified Tax Increment Financing Plans and proposed Tax Increment Financing Plan afford maximum opportunity consistent with the sound needs of the City as a whole for the development and redevelopment of Redevelopment Pro7ect No. 1. Section 3. Modification, Aoproval and Adoption of the Modified Redevelooment Plan for Redevelooment Proiect No. 1. 3.01. The modification of the Modified Redevelopment Plan for Redevelopment Project No. 1 reflecting increased project costs and increased geographic area and the approval and adoption of the Modified Redevelopment Plan relating thereto are hereby ' approved and adopted by the Commissioners of the Authority and are forwarded to the Fridley City Council for public hearing, review and approval. Page 3- Resolution No. 04 - 1991 ' Section 4. Modification. Aooroval and Adoption of the Modified Tax Increment Financinq Plans for Tax Increment Financinq Districts No. 1 throu4h No. 10. 4.01. The modification of the Modified Tax Increment Financing Plans for Tax Increment Financing Districts No. 1 through No. 10 reflecting increased project costs and increased geographic area within Redevelopment Project No. 1 and the approval and adoption of the Modified Tax Increment Financing Plans relating thereto are hereby approved and adopted by the Commissioners of the Authority and are forwarded to the Fridley City Council for public hearing, review and approval. Section S. Approval of the Establishment of Proposed Tax Increment Financina District No. 11 and the Aoproval and Adontion of the Proposed Tax Increment FinancinQ Plan Relatinq Thereto. 5.01. The establishment of proposed Tax Increment Financing District No. 11 within Redevelopment Pro7ect No. 1 and the approval and adoption of the proposed Tax Increment Financing Plan relating thereto are hereby approved and adopted by the Commissioners of the Authority and are forwarded to the Fridley City Council for public hearing, review and approval. ' Section 6. Filina of Plans. 6.01. Upon approval and adoption of the Modified Redevelopment Plan, the Modified Tax increment Financing Plans and the proposed Tax Increment Financing Plan (collectively the "Plans"), the Authority shall cause said Plans to be filed with the Commissioner of Revenue. PASSED AND ADOPTED BY THE FRIDLEY HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF FRIDLEY THIS 27TH DAY OF JUNE, 1991. ,�� ��a� LAWRENCE R. COMMERS - CHAIRPERSON ATTEST: 2�'� �-�.u,�.�-- WILLIAM W. BURNS - EXECUTIVE DIRECTOR ' CERTIFICATION ' I, William W. Burns, Executive Director of the Housing and Redevelopment Authority in and for the City of Fridley, County of Anoka, Minnesota, hereby certify that the foregoing is a true and correct copy of Resolution No. HRA 04 - 1991 passed by the Authority on the 27th day of June, 1991. ��� ���� � WILLIAM W. BURNS - EXECUTIVE DIRECTOR 1 '