HRA RES 2003-05 - 14830HRA Resolution 2003-OS
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HOUSING AND REDEVELOPMENT AUTHORITY
1N AND FOR THE CITY OF FRIDLEY
COUNTY OF ANOKA
STATE OF MINNESOTA
RESOLUTION NO. 5-2003
A RESOLUTION MODIFYING THE REDEVELOPMENT PLAN FOR REDEVELOPMENT
PROJECT NO. 1 AND THE TAX INCREMENT FINANCING PLANS FOR TAX INCREMENT
FINANCING DISTRICTS NOS. 1, 2, 3, 6, 7, 9, 11, 12, 13, 14, 16 AND 17 TO REFLECT
INCREASED PROJECT COSTS AND INCREASED BONDING AUTHORITY WITHIN
REDEVELOPMENT PROJECT NO. 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.
1.01. It has been proposed that the Authority approve and adopt the proposed modifications to the
Redevelopment Plan for Redevelopment Project No. 1(the "Project Area") to reflect increased project
costs and increased bonding authority within the Project Area, 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 approve and adopt the proposed modifications to
the Tax Increment Financing Plans for Tax Increment Financing Districts Nos. 1, 2, 3, 6, 7, 9, 10, 11, 12,
13, 14, 16 and 17 (the "TIF Districts") to reflect increased project costs and increased bonding authority
within the Project Area, pursuant to Minnesota Statutes, Section 469.174 through 469.1799 and 469.001
to 469.047, inclusive, as amended and supplemented from time to time.
1.03. The Authority has investigated the facts and has caused to be prepared with respect thereto, a
modified Redevelopment Plan for the Project Area and modified Tax Increment Financing Plans for the
TIF Districts to reflect increased project costs and increased bonding authority within the Project Area.
1.04. The Authority has performed all actions required by law to be performed prior to the approval and
adoption of the modifications to the Redevelopment Plan and Tax Increment Financing Plans.
1.05. The Authority hereby determines that it is necessary and in the best interests of the City and the
Authority at this time to approve and adopt the modifications to the Redevelopment Plan and the Tax
Increment Financing Plans to reflect increased project costs and increased bonding authority within the
Project Area.
Proposed Page 2- Resolution No. 5-2003
Section 2. Findin�s.
2.01. The Authority hereby finds that the assistance to be provided through the adoption and
implementation of the modified Redevelopment Plan and modified Tax Increment Financing Plans
(collectively, the "Plans") are necessary to assure the development and redevelopment of the Project Area.
HRA Resolution 2003-OS Page 2
2.02. The Authority hereby finds that the 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 hereby finds that the Plans afford ma�mum opportunity consistent with the sound
needs of the City as a whole for the development and redevelopment of the Project Area 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. Approvals and Adoptions.
3.01. The modifications to the Redevelopment Plan reflecting increased project costs and increased
bonding authority within the Project Area are hereby approved and adopted by the Commissioners of the
Authority and are forwarded to the Fridley City Council for public hearing review and approval.
3.02. The modifications to the Tax Increment Financing Plans reflecting increased project costs and
increased bonding authority within the Project Area are hereby approved and adopted by the
Commissioners of the Authority and are forwarded to the Fridley City Council for public hearing review
and approval.
Section 4. Filin� of Plans.
4.01. Upon approval and adoption of the Plans, the Authority shall cause said Plans to be filed with the
Minnesota Department of Revenue.
PASSED AND ADOPTED BY THE HOUSING AND REDEVELOPMENT AUTHORITY 1N AND
FOR THE CITY OF FRIDLEY THIS 6TH DAY OF NOVENIBER, 2003.
LAWRENCE R. COMIV�RS - CHAIRPERSON
ATTEST:
WII,LIAM W. BURNS - EXECUTIVE DIRECTOR
CERTIFICATION
I, Debra A. Skogen, the duly qualified City Clerk of the City of Fridley, County of Anoka, Minnesota,
hereby certify that the foregoing is a true and correct copy of Resolution No. 5-2003 adopted by the
Authority on the 6th day of November, 2003 .
CITY CLERK