HRA RES 1993-09 - 00013900�
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RESOLUTION N0. HRA 9- 1993
A RESOLUTION MODIFYING THE REDEVELOPMENT PIAN FOR
REDEVELOPMENT PR07ECT N0. 1 TO REFLECT INCREASED PROJECT
COSTS AND INCREASED GEOG&APHIC AREA WITHIN REDEVELOPMENT
PROJECT N0. 1 AND MODIFYING THE TAR INCREMENT FINANCING
PLANS FOR TAR INCREMENT FINANCING DISTRICTS N0. 1
THROUGH N0. 12 TO REFLECT INCREASED PRO.TECT COSTS AND
INCREASED GEOGRAPHIC AREA WITHIN REDEVEIAPMENT PRO.TECT
N0. 1
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 the Authority modify the Modified
Redevelopment Plan for Redevelopment Pro�ect No 1 to reflect increased pro�ect
costs and increased geographic axea, 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 modify the Modified Tax
� Increment Financing Plans for Tax Increment Financing Districts No 1 through
No. 12 to reflect increased project costs and increased geographic area within
Redevelopment Project No. 1, puxsuant to Minnesota Statutes, Section 469 174
through 469 179, inclusive, as amended and supplemented from time to time.
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1 03. The Authority has investigated the facts and has caused to be prepared
with respect thereto, a Modified Redevelopment Plan for Redevelopment Pro,7ect
No. 1 to reflect increased project costs and increased geographic area and
Modified Tax Increment Financing Plans for Tax Increment Financing Districts No.
1 through No. 12 to reflect increased project costs and increased geographic
area within Redevelopment Pro]ect No 1,
1,D4 The Authority has performed all actions required by law to be performed
prior to the approval and adoption of the Modified Redevelopment Plan for
Redevelopment Pro]ect No. 1 and of the Modified Tax Increment Financing Plans
for Tax Increment Financing Districts No 1 through No. 12.
1 OS The Authority herehy determines that it is necessary and in the hest
interests of the City and the Authority at this time to approve and adopt the
Modified Redevelopment Plan for Redevelopment Project No 1 to reflect increased
project costs and increased geographic area and to approve and adopt the
Modified Tax Increment Financing Plans for Tax Increment Financing Districts
No 1 through No. 12 to reflect increased pro�ect costs and incxeased geographic
area within Redevelopment Project No. 1,
Section 2 Findines.
2.01. The Authority hereby finds that the assistance to be pxovided thxough
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' Page 2-- Resolution No. HRA 9- 1993
the adoption and the implementation of the Modified Redevelopment Plan and
Modified Tax Increment Financing Plans are necessary to assure the development
and redevelopment of Redevelopment Project No. 1.
2.02. The Authority hereby finds that the Modified Redevelopment Plan and
Modified Tax Increment Financing Plans conform to the general plan for the
development and redevelopment of the City as a whole in that they are consistent
with the City's comprehensive plan.
2.03. The Authority finds that the Modified Redevelopment Plan and Modified
Tax Increment Financing Plans afford maximum oppoxtunity consistent with the
sound needs of the City as a whole for the development and redevelopment of
Redevelopment Project No. 1 by private enterprise and it is contemplated that
the development and redevelopment thereof will be carried out pursuant to
redevelopment contracts with private developers.
Section 3. Modification of the Modified Redevelovment Plan for Redevelovment
Project No 1
3 01. The modifications to the Modified Redevelopment Plan for Redevelopment
Pro�ect No 1 reflecting increased project costs and increased geographic area
are hereby approved and adopted by the Commissioners of the Authority
, Section 4 Modification of the Modified Tax Increment Financing Plans foY Tax
Increment Financing Districts No. 1 through No. 12
4.01. The modifications to the Modified Tax Increment Financing Plans for Tax
Increment Financing Districts No. 1 through No. 12 reflecting increased project
costs and increased geographic area within Redevelopment Project No. 1 are
hereby approved and adopted by the Commissioners of the Authority.
Section 5 Filin� of Plans.
6 O1 Upon approval and adoption of the Modified Redevelopment Plan and the
Modified Tax Increment Financing Plans (collectively the "Plans"), the Authority
shall cause said Plans to be filed with the Commissioner of Revenue.
PASSED AND ADOPTED BY THE HOUSING AND REDEVELOPMENT AUTHORITY THIS 14TH DAY OF
OCTOBER 1993.
��.,�. ��,�°�� .,.�.�-
LAWRENCE R, COMMERS, CHAIRPERSON
ATTEST:
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WILLIAM W BURNS, EXECUTIVE DIRECTOR