RES 1983-77 - 0000578316'.1
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RESMMON RELATING TO THE MODIFICATION BY ENLARGEMENT OF
CENTER CITY REDEVELOPMENT AREA AND ITS REDESIGNATION AS
REDEVELOPMENT PROTECT NO. 1 PURSUANT TO THE PROVISIONS OF
MINNESOTA STATUTES, SECTIONS 462.411 TO 462.716,
INCLUSIVE, AS AMENDED, AND THE APPROVAL AND ADOPTION OF A
' MODIFIED REDEVELOPMENT PLAN FOR SAID REDEVELOPMENT PROTECT
AND THE REDESIGNATION OF CENTER CITY REDEVELOPMENT AREA AS
TAX INCREMENT DISTRICT NO. 1; MOORE LAKE REDEVELOPMENT
AREA AS TAX INCREMENT DISTRICT NO. 2; AND NORTH AREA
REDEVELOPMENT AREA AS TAX INCREMENT DISTRICT NO. 3 LOCATED
THEREIN BY THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND
FOR THE CITY OF FRIDLEY.
BE IT RESOLVED by the City Council (the "Council ") of the City of Fridley,
Minnesota (the "City "), as follows:
1. Recitals.
It has been proposed and adopted by the Housing and Redevelopment Authority in
and for the City (the " Authority ") that the Authority modify by enlargement a
redevelopment project within the corporate limits of the City, pursuant to and
in accordance with Minnesota Statutesr Sections 462.411 and 462.716,
inclusive, as amended, and that the proposed redevelopment project previously
designated as Center City Redevelopment Area be redesignated as Redevelopment
Project No. 1 (the "Redevelopment Project "). It has been further proposed
and adopted by the Authority that the Authority redesignate Center City
Redevelopment Area as Tax Increment District No. 1; Moore Lake Redevelopment
Area as Tax Increment District No. 2; and North Area Redevelopment Area as Tax
Increment District No. 3.
' The Authority has caused to be prepared, and this Council has investigated the
facts with respect thereto, a proposed modification of the Redevelopment Plan
for the Redevelopment Project (the "Modified Redevelopment Plan "), defining
more precisely the property to be added to the Redevelopment Project and
describing the action to be undertaken by the Authority and the City to modify
the Redevelopment Project.
The Authority and the City have performed all actions required by law to be
performed prior to the redesignation of Center City Redevelopment Area as
Redevelopment Project No. 1 and the modification of Redevelopment Project No.
1 and the adoption of the Modified Redevelopment Plan relating thereto and the
redesignation of Center City Redevelopment Area as Tax Increment District No.
1; Moore Lake Redevelopment Area as Tax Increment District No. 2; and North
Area Redevelopment Area as Tax Increment District No. 3 within Redevelopment
Project No. 1, including, but not limited to, a review of the proposed
Modified Redevelopment Plan for the Redevelopment Project by the City Planning
Commission and a written opinion of the City Planning Commission and the
holding of a public hearing upon published and mailed notice as required by
law.
Page 2 — Resolution No. 77 - 1983
165
The Council hereby determines that it is necessary and in the best interest of
the City at this time to modify by enlargement the Redevelopment Project,
approve its redesignation and to adopt and approve the Modified Redevelopment
Plan relating thereto and to approve the redesignation of the Tax Increment
Districts within the Redevelopment Project.
2. Findings for the Modification of the Redevelopment Project.
The Council hereby finds, determines and declares that the modification by
enlargement of the Redevelopment Project is intended and, in the judgement of
this Council, its effect will be, to further provide an impetus for commercial
development, increase employment and otherwise promote certain public purposes
and accomplish certain objectives as specified in the Modified Redevelopment
Plan.
The Council determines and declares that the City made the above finding
stated in this Section 2.
The Council determines and declares that the Redevelopment Project is hereby
modified.
3. Adoption of the Modified Redevelopment Plan.
Me Modified Redevelopment Plan for Redevelopment Project No. 1 presented to
the Council on this date is hereby approved and adopted and shall be placed on
file in the office of the Clerk - Treasurer. The Modified Redevelopment Plan
shall be collectively entitled "Modified Redevelopment Plan for Redevelopment
Project No. 1 (Center City Redevelopment Area) and Tax Increment Financing
Plans for Tax Increment District No. 1 (Center City), Tax Increment District
No. 2 (Moore Lake) and Tax Increment District No. 3 (North Area), Housing and
Redevelopment Authority in and for the City of Fridley, Minnesota, August 22,
1983."
4. Implementation of Modified Redevelopment Plan.
The officers of the City, the City's financial advisor and underwriter
therefor, and the City's legal counsel and bond counsel are authorized and
directed to proceed with the implementation of the Modified Redevelopment Plan
and for this purpose to negotiate, draft, prepare and present to this Council
for its consideration all further plans, resolutions, documents and contracts
necessary for this purpose.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 12TH DAY OF
SEPTEMBER, 1983. yyff
WILLIAM J. OR
ATTEST:
SIDNEY C. - CITY CLERK —�