HRA RES 1999-16 - 00000995HRA RESOLUTION NO. 16-1999
RESOLUTION AUTHORIZING THE EXTENSION OF THE DURATION OF TAX
1NCREMENT FINANCING DISTRICT NO. 6 AND APPROVING THE MODIFIED TAX
1NCREMENT 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. The Authority has heretofore approved and adopted a development program known as the
Redevelopment Plan (the "Redevelopment Program") for its Redevelopment Project No. 1(the
"Project Area") pursuant to Minnesota Statutes, Section 469.001 et se�c .
1.02. The Authority has heretofore approved and adopted and the City Council (the "Council") of
the City of Fridley, Minnesota (the "City") has approved the establishment of Tax Increment
Financing District No. 6(the "District") within the Project Area and the Tax Increment Financing
Plan (the "TIF Plan") relating thereto pursuant to Minnesota Statutes, Sections 469.174 through
469.179, inclusive, as amended and supplemented from time to time.
1.03. It has been proposed that the Authority e�tend the duration of the District in order to promote
the objectives outlined in the Redevelopment Program.
Section 2. Findin�s.
2.01. The Authority hereby finds that Laws of Minnesota 1999, Chapter 243, Article 10, Section 23
(the "Special Law") was enacted by the Legislature of the State of Minnesota and signed into law by
the Governor of the State on May 25, 1999, and relates to special rules governing the use of tax
increment financing within the District.
2.02. The Authority hereby finds that pursuant to Subdivision 2 of the Special Law, the governing
bodies of Anoka County and Independent School District No. 13 have approved the Special Law by
resolution, in compliance with the requirements of Minnesota Statutes, Sections 469.1782,
subdivision 2, and 645.021.
2.03. The Authority hereby finds that the City Council will consider approval of the Special Law
and the e�tension of the duration of the District at its meeting scheduled for December 13, 1999.
2.04. The Authority hereby finds that pursuant to Subdivision 1 of the Special Law, the Authority
may e�tend by resolution the duration of the District, upon approval by the City Council.
2.05. The Authority hereby finds that e�tending the duration of the District and adopting the
modified TIF Plan will promote the objectives outlined in the Redevelopment Program.
Page 2-- Resolution No. HRA 16-1999
Section 3. Approval and Authorization.
3.01. The Commissioners hereby approve the e�tension of the duration of the District and the
modified TIF Plan to reflect such e�tension. The term of the District shall be e�tended to
December 31, 2025, as permitted by the Special Law. This approval shall not be effective until
and unless the City Council approves the Special Law and the e�tension of the duration of the
District.
PASSED AND ADOPTED BY THE HOUSING AND REDEVELOPMENT AUTHORITY 1N
AND FOR THE CITY OF FRIDLEY, MINNESOTA THIS 9TH DAY OF DECEMBER, 1999.
LAWRENCE R. COMIV�RS - CHAIRPERSON
ATTEST:
WILLIAM W. BURNS — EXECUTIVE DIRECTOR