HRA RES 1998-17 - 00001025RESOLUTION NO. HRA 17-1998
A RESOLUTION AUTHORIZING EXECUTION AND DELIVERY OF A LETTER OF
INTENT BY AND BETWEEN THE HOUSING AND REDEVELOPMENT AUTHORITY IN
AND FOR THE CITY OF FRIDLEY, MINNESOTA, AND MEDTRONIC, INC.
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. Recitals.
1.01 It has been proposed that the Authority enter into a Letter
of Intent (the "Letter") with Medtronic, Inc. (the
"Redeveloper").
Section 2. Findings.
2.01 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 Minnesota Statutes, Section 469.001 et seq.
2.02 The Authority hereby finds that the Contract promotes the
objectives as outlined in its Redevelopment Program.
Section 3. Authorization for Execution and Delivery
3.01 The Chairperson and the Executive Director of the Authority
(the "Officers") are hereby authorized to execute and deliver the
Letter with such additions and modifications as the Officers may
deem desirable or necessary as evidenced by their execution.
PASSED AND ADOPTED BY THE FRIDLEY HOUSING AND REDEVELOPMENT
AUTHORITY IN AND FOR THE CITY OF FRIDLEY, MINNESOTA, THIS 1ST DAY
OF OCTOBER 1998.
LAWRENCE R. COMMERS, CHAIRPERSON
ATTEST:
WILLIAM W. BURNS, EXECUTIVE DIRECTOR