HRA Res 2016-04A Cleanup Revolving Loan Fund
HRA RESOLUTION 2016 – 04A
RESOLUTION SUPPORTING APPLICATION TO MN DEPARTMENT OF
EMPLOYMENT AND ECONOMIC DEVELOPMENT (DEED) FOR MINNESOTA
CLEANUP REVOLVING LOAN FUND (MCRLF) FOR THE NORTHERN STACKS
REDEVELOPMENT
WHEREAS Hyde Development has purchased the Northern Stacks Site, formerly BAE, located
at 4800 East River Road and has made substantial progress towards the industrial clean up and
redevelopment of this property; and
WHEREAS the 122 acre site is still heavily contaminated with pollution and the proposed uses
of the requested funds are consistent with goals of the Minnesota Cleanup Revolving Loan Fund;
and
WHEREAS the Fridley Housing & Redevelopment Authority (Fridley HRA) has financially
participated in the redevelopment of the site in order to encourage and leverage other funding
sources;
THEREFORE BE IT RESOLVED that the Housing and Redevelopment Authority supports the
developer’s application for a MCRLF Loan.
PASSED AND ADOPTED BY THE FRIDLEY HOUSING AND REDEVELOPMENT
AUTHORITY IN AND FOR THE CITY OF FRIDLEY, MINNESOTA, THIS 3RD DAY OF
MARCH, 2016.
________________________________________________________
LAWRENCE R. COMMERS, CHAIRPERSON
ATTEST:
____________________________________________
WALTER T. WYSOPAL, EXECUTIVE DIRECTOR