HRA Res 2013-24 Transfer of Funds Between TIF 9 and 18
HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF FRIDLEY
COUNTY OF ANOKA
STATE OF MINNESOTA
HRA RESOLUTION NO. 2013-24
A RESOLUTION RATIFYING A TRANSFER OF FUNDS BETWEEN TIF DISTRICT
NO. 9 (ONAN) AND TIF DISTRICT NO. 18 (GATEWAY WEST)
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:
WHEREAS, TIF District No. 9 is a redevelopment tax increment financing district
approved by the HRA and the City in 1989 and subsequently certified by the County; and
WHEREAS, the TIF District No. 9 Fund (“Fund #458”) has a cash balance; and
WHEREAS, TIF District No. 18 (Gateway West) also a redevelopment tax increment
financing district has a negative fund balance (“Fund #470”) of ($1,228,090) as of December 31,
2012;
NOW, THEREFORE, BE IT RESOLVED, by the Board of Commissioners of the
Housing and Redevelopment Authority in and for the City of Fridley, Minnesota as follows:
(1) The transfer of approximately $500,000 from Fund #458 to Fund #470 is
hereby ratified and is effective as of December 31, 2013
Adopted by the Housing and Redevelopment Authority in and for the City of Fridley,
Minnesota this 5th day of December, 2013.
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Lawrence R. Commers, Chair
ATTEST:
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Walter T. Wysopal, Executive Director