HRA RES 2011-11 - 14870RESOLUTION NO. 2011-11
A RESOLUTION AUTHORIZING AN INTERIM AGREEMENT BETWEEN THE
HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF
FRIDLEY AND RER ACQUISITIONS LLC FOR THE REDEVELOPMENT OF THE 4800
EAST RIVER ROAD SITE
BE IT RESOLVED by the Housing and Redevelopment Authority in and for the City of
Fridley (the "Authority") as follows:
Section 1. Recitals.
1.01 The East River Road site (the "Site") consists of approximately 135 acres of land
with two tax parcels at 4800 East River Road, Fridley, MN 55421.
1.02 The HRA, the City and RER Acquisition, LLC (the "Redeveloper") plan to redevelop
the Site to include bulk warehouse, office warehouse, office showroom and other uses, if
appropriate, as agreed upon by the parties.
1.03 The Authority and the Redeveloper propose to enter into an Interim Agreement
effective as of November 3, 2011 and expiring November 1, 2012, setting forth responsibilities and
deadlines for each of the parties.
Section 2. Findin�s.
2.01 The Authority hereby finds that the redevelopment of the Site and the Interim
Agreement promotes the obj ectives outlined in its Modified Redevelopment Plan for its
Redevelopment Proj ect No. 1(the "Redevelopment Program") established pursuant to Minnesota
Statutes, Section 469.001 et seq.
Section 3. Authorizations.
3.01 The Authority hereby approves execution and delivery of the Interim Agreement
dated November 3, 2011.
3.02 The Chairman, the Vice Chairman, the Executive Director or the Assistant Executive
Director of the Authority are each hereby authorized to execute and deliver any documents
necessary to effect the Interim Agreement.
PASSED AND ADOPTED BY THE HOUSING AND REDEVELOPMENT AUTHORITY 1N
AND FOR THE CITY OF FRIDLEY, MINNESOTA, THIS 3R� DAY OF NOVEMBER, 2011.
Lawrence R. Commers, Chairman
ATTEST:
William W. Burns, Executive Director
MMB: 4826-2769-8701, v. 1