HRA RES 2000-07 - 00002010RESOLUTION NO. HRA 7-2000
A RESOLUTION AUTHORIZING EXECUTION AND DELIVERY OF A CONTRACT
FOR EXCLUSIVE NEGOTIATIONS BY AND BETWEEN HOUSING AND REDEVELOPMENT
AUTHORITY 1N AND FOR THE CITY FRIDLEY, MINNESOTA AND REAL ESTATE RECYCLING,
LLC
BE IT RESOLVED by the Board of Commissioners (the "Commissioners") of Housing and Redevelopment
Authority in and for the City of Fridley, Minnesota (the "Authority") as follows:
Section 1. Recitals.
1.0 L It has been proposed that the Authority enter into a Contract For Exclusive Negotiations (the "Contract")
with Real Estate Recycling, LLC (the "Redeveloper").
Section 2. F�.
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 se�c .
2.02. The Authority hereby finds that the Redeveloper is proposing to redevelop real property located in the
Redevelopment Program area (the "Site") in a manner consistent with the objectives outlined in the
Redevelopment Program.
2.03. The Authority hereby finds that the Redeveloper has requested that the Authority negotiate exclusively
with the Redeveloper in an effort to execute a Redevelopment Agreement relating to the Site.
Section 3. Authorization for Negotiations and Contract Execution and DeliverX.
3.01. The Authority is willing to negotiate exclusively with the Redeveloper in an effort to execute a
Redevelopment Agreement relating to the Site. 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 FRIDLEY HOUSING AND REDEVELOPMENT AUTHORITY 1N AND
FOR THE CITY OF FRIDLEY, MINNESOTA, THIS 13TH DAY OF JULY, 2000.
LAWRENCE R. COMMERS, CHAIRPERSON
ATTEST:
WILLIAM W. BURNS, EXECUTIVE DIRECTOR