Resolution No. 2023-05 TIF
Resolution No. 2023 - 05
Authorizing Modification of The Redevelopment Plan for Redevelopment Project No. 1
and the Tax Increment Financing Plans for Tax Increment Financing Districts Nos. 6,11-13
and 17-25 to Reflect Increased Project Costs and Increased Bonding Authority within
Redevelopment Project No. 1, Creating Tax Increment Financing District No. 26, and
Adopting a Tax Increment Financing Plan Relating Thereto
Whereas, it has been proposed that the Housing and Redevelopment Authority in and for the
City of Fridley (“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; and
Whereas, it has been further proposed that the Authority approve and adopt the proposed
modifications to the Tax Increment Financing Plans (the "Existing Plans") for Tax Increment
Financing Districts Nos. 6, 11-13 and 17-25 (the "Existing 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;
and
Whereas, it has been further proposed that the Authority approve the creation of proposed Tax
Increment Financing District No. 26 (the “Proposed District”) within the Project Area and approve
and adopt the proposed Tax Increment Financing Plan (the “Proposed Plan”) 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; and
Whereas, 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 Existing Plans for the
Existing Districts reflecting increased project costs and increased bonding authority within the
Project Area and Proposed Plan for the Proposed District, defining more precisely the property to
be included the public costs to be incurred, and other matters relating thereto; and
Whereas, 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 Existing Plans and the
approval and adoption of the Proposed Plan; and
Whereas, 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 Existing Plans, to create the Proposed District and to approve and adopt the Proposed Plan
relating thereto.
HRA Resolution No. 2023-05 Page 2
Now, therefore be it resolved, that the Authority hereby finds, determines and declares as
follows:
1. That the assistance to be provided through the adoption and implementation of the
modified Redevelopment Plan, modified Existing Plans and Proposed Plan (collectively, the
“Plans”) is necessary to assure the development and redevelopment of the Project Area.
2. 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.
3. That the Plans afford maximum 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.
4. That 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.
5. The modifications to the Existing 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.
6. The creation of the Proposed District within the Project Area and the adoption of the
Proposed Plan 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.
7. 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 the Housing and Redevelopment Authority in and for the City of
nd
Fridley this 2 day of February, 2023.
_______________________________________________
Elizabeth Showalter – Chairperson
Attest:
__________________________________________________
Walter T. Wysopal – Executive Director
HRA Resolution No. 2023-05 Page 3
CERTIFICATION
I, Wally Wysopal, 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. 2023-05 adopted by the Authority on the 2nd day of February, 2023.
_______________________________________________
Walter T. Wysopal - Executive Director