HRA RES 1996-10 - 00001089HRA RESOLUTION N0. 10 - 1996
RESOLUTION AUTHORIZING EXECUTION AND DELIVERY OF A CONTRACT
FOR PRIVATE REDEVELOPMENT BY AND BETWEEN THE HOUSING
AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF
FRIDLEY AND AMERICAN EXCELSIOR COMPANY
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 l. RPritals_
l.Ol.It has been proposed that the Authority enter into a Contract for
Private Redevelopment (the "Contract") with American Excelsior
Company (the "Redeveloper").
Section 2. Findings_
2.Ol.The Authority hereby finds that it has approved and adopted a
development program known as the Modified Redevelopment Plan for
its Redevelopment Project No. 1(the "Redevelopment Program")
pursuant to MinnP�ota StatutP�, Section 469.001 �t_s_eC�.
2.02.The Authority hereby finds that the Contract promotes the
objectives as outlined in its Redevelopment Program.
Section 3. Authori�ation for FxPrution and �PlivPr�_
3.Ol.The Chairman and the Executive Director of the Authority are hereby
authorized to execute and deliver the Contract when the following
condition is met:
Substantial conformance of a Contract to the Contract presented to the
Authority as of this date.
PASSED AND ADOPTED BY THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE
CITY OF FRIDLEY THIS 9TH DAY OF MAY, 1996.
LAWRENCE R. COMMERS - CHAIRMAN
ATTEST:
WILLIAM W. BURNS - EXECUTIVE DIRECTOR