HRA RES 2012-03 - 14912 TIF creating #20HRA RESOLUTION NO. 2012-03
A RESOLUTION MODIFYING THE REDEVELOPMENT PLAN FOR
REDEVELOPMENT PROJECT NO. 1 AND THE TAX INCREMENT FINANCING PLANS
FOR TAX INCREMENT FINANCING DISTRICTS NOS. 6-7, 9, 11-13 AND 16-19 TO
REFLECT INCREASED PROJECT COSTS AND INCREASED BONDING AUTHORITY
WITHIN REDEVELOPMENT PROJECT NO. 1, CREATING TAX INCREMENT
FINANCING DISTRICT NO. 20 AND ADOPTING A TAX INCREMENT FINANCING
PLAN RELATING THERETO AND CREATING HAZARDOUS SUBSTANCE
SUBDISTRICT NO. 20A AND THE ADOPTION OF A TAX INCREMENT FINANCING
PLAN 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. It has been proposed that the Authority approve and adopt the proposed modifications to its
Redevelopment Plan for Redevelopment Project No. 1(the "Project Area") reflecting increased project
costs and increased bonding authority, 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 (the "E�sting Plans") for Tax Increment Financing Districts Nos. 6-
7, 9, 11-13 and 16-19 (the "E�sting Districts") reflecting increased project costs and increased bonding
authority within the Project Area, pursuant to Minnesota Statutes, Section 469.174 through 469.1799,
inclusive, as amended and supplemented from time to time.
1.03. It has been further proposed that the Authority approve the creation of proposed Tax Increment
Financing District No. 20 and Hazardous Substance Subdistrict No. 20A (the "Proposed Districts")
within the Project Area and approve and adopt the proposed Tax Increment Financing Plans (the
"Proposed Plans") relating thereto, pursuant to and in accordance with Minnesota Statutes, Sections
469.174 to 469.1799, inclusive, as amended and supplemented from time to time.
1.04. 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 E�sting Plans for the E�sting
Districts reflecting increased project costs and increased bonding authority within the Project Area and
Proposed Plans for the Proposed Districts, defining more precisely the property to be included the
public costs to be incurred, and other matters relating thereto.
1.05. 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 E�sting Plans and the approval and
adoption of the Proposed Plans.
1.06. 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 E�sting
Plans, to create the Proposed Districts and to approve and adopt the Proposed Plans relating thereto.
HRA Resolution No. 2012-03
Section 2. Findin�s.
2.01. The Authority hereby finds, determines and declares that the assistance to be provided through
the adoption and implementation of the modified Redevelopment Plan, modified Plans and Proposed
Plans (collectively, the "Plans") is necessary to assure the development and redevelopment of the
Project Area.
2.02. The Authority hereby finds, determines and declares 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 finds, determines and declares 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 E�sting 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.
3.03. The creation of the Proposed Districts within the Project Area and the adoption of the Proposed
Plans relating thereto 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, the Office of the State Auditor and Anoka County.
PASSED AND ADOPTED BY HOUSING AND REDEVELOPMENT AUTHORITY 1N AND
FOR THE CITY OF FRIDLEY THIS 5r'' DAY OF APRIL, 2012.
LAWRENCE R. COMIV�RS - CHAIRPERSON
HRA Resolution No. 2012-03
ATTEST:
WII,LIAM W. BURNS - EXECUTIVE DIRECTOR
CERTIFICATION
I, William W. Burns, Executive Director of the Housing and Redevelopment Authority in and for the
City of Fridley, Minnesota, hereby certify that the foregoing is a true and correct copy of Resolution
No. 2012-03 adopted by the Authority on the 5�' day of April, 2012.
WII,LIAM W. BURNS - EXECUTIVE DIRECTOR
MMB: 4833-1687-1439, v. 1