HRA Res 2019-04 Fridley Land
HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE
CITY OF FRIDLEY
COUNTY OF ANOKA
STATE OF MINNESOTA
RESOLUTION NO. 2019-04
A RESOLUTION AUTHORIZING EXECUTION AND DELIVERY OF AN
AGREEMENT RELATING TO THE CONTRACT FOR PRIVATE
REDEVELOPMENT BY AND BETWEEN THE HOUSING AND
REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF FRIDLEY
MINNESOTA AND FRIDLEY LAND LLC
BE IT RESOLVED by the Board of Commissioners (the “Board”) 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 enter into an Agreement (the “Agreement”)
with Fridley Land LLC, a Minnesota limited liability company (the “Redeveloper”) relating to the
Redevelopment Agreement defined below.
1.02 The Parties to the Redevelopment Agreement wish to memorialize that various
requirements have been satisfied and the Note contemplated by the Redevelopment Agreement is
to be issued.
Section 2. Findings.
2.01. The Board hereby finds that the Agreement promotes the objectives as outlined in
its Development Program established pursuant to Minnesota Statutes, Section 469.001 et seq.
2.02. The Board hereby finds that it has approved and executed (i) a Contract for Private
Redevelopment between the Authority and the Redeveloper dated as of October 3, 2013 (the
“Contract”), (ii) a First Amendment to the Contract dated as of May 1, 2014, (iii) a Second
Amendment to the Contract dated as of November 6, 2014, and (iv) a Third Amendment to the
Contract dated as of July 14, 2016 (the “Redevelopment Agreement”).
HRA Resolution No. 2019-04 Page 2
Section 3. Authorizations.
3.01. The President and the Executive Director (the “Officers”) are hereby authorized to
execute and deliver the Agreement when the following conditions are met:
(a) Substantial conformance of an agreement to the Agreement presented to the
Authority as of this date with such additions and modifications as the Officers may
deem desirable or necessary as evidenced by the execution thereof.
PASSED AND ADOPTED BY THE HOUSING AND REDEVELOPMENT AUTHORITY IN
RD
AND FOR THE CITY OF FRIDLEY THIS 3 DAY OF JANUARY, 2019.
______________________________________________
STEPHEN H. EGGERT – ACTING CHAIRPERSON
ATTEST:
____________________________________________
WALTER T. WYSOPAL – EXECUTIVE DIRECTOR