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226 MINUTES OF JOINT MEETING <br />EDINA HOUSING AND REDEVELOPMENT AUTHORITY <br />AUGUST 19, 1985 <br />EDINA CITY COUNCIL n <br />Answering rollcall were Councilmembers/Commissioners Bredesen, Kelly, Richards, <br />Turner and Courtney. <br />PUBLIC HEARING CONDUCTED ON AMENDPENT TO 1985 MENDMENT TO SOUTHEAST EDINA <br />REDEVELOPMENT PLAN AND SALE OF LAND TO THE HRA. <br />by Clerk, approved and ordered placed on file. <br />this public hearing is for the purpose of approving an Amendment to the 1985 <br />Amendment to the Southeast Edina Redevelopment Plan for the sale of land to the <br />Edina Housing and Redevelopment Authority. <br />three lots which were not included in the 1985 project area and to increase the <br />bond issue from $11,000,000 to $12,000,000 for the Edinborough project. <br />additional action by the City would be to authorize the sale of that land, which <br />is owned by the City, to the HRA so it can be included in the project. The sale <br />price listed in the resolution is the same sale price at which the balance of the <br />land is being sold to the developers, less some interest factor. <br />recommended adoption of the resolutions. No objections being heard, Commissioner <br />Turner introduced the following resolution and moved its adoption: <br />Affidavits of Notice were presented <br />Attorney Erickson explained that <br />The amendment is necessary to add <br />The <br />Mr. Erickson <br />RESOLUTION APPROVING THE FIRST AMENDMENT <br />TO THE 1985 AMENDMENT TO THE SOUTHEAST <br />EDINA REDEVELOPMENT PLAN <br />BE IT RESOLVED, by the Board of Commissioners of the Housing and Redevelopment <br />Authority of Edina, Minnesota (the llHRA1r), as follows: <br />1. <br />plan, as defined in Minnesota Statutes, Section 462.421, subdivision 15, <br />designated as the Southeast Edina Redevelopment Plan (the "Plan"), which also <br />constitutes a redevelopment project, as defined in Minnesota Statutes, <br />Section 445.421, subdivision 13, and a tax increment financing plan, pursuant <br />to the provisions of Minnesota Statutes, Section 273.74. <br />a tax increment financing district, as defined in Minnesota Statutes, <br />Section 273.73, subdivision 9. <br />approved amendments to the Plan, designated as the 1985 Amendment to <br />the Southeast Edina Redevelopment Plan (the "1985 Amendment"). <br />proposed that the HRA approve additional amendments to the Plan designated as <br />the First Amendment to the 1985 Amendment to the Southeast Edina Redevelopment <br />Plan (the "First Amendment"). <br />2. The First Amendment is described in the document entitled "First Amendment <br />to the 1985 Amendment to the Southeast Edina Redevelopment Plan" which has been <br />presented to this Board, and the First Amendment as so described is hereby <br />approved, and the Executive Director of the HRA and the attorney for the HRA <br />are hereby authorized and directed to proceed with the implementation of the <br />1985 Amendment as amended by the First Amendment. <br />Motion for adoption of the resolution was seconded by Commissioner Bredesen. <br />The HRA and the Edina City Council have previously approved a redevelopment <br />The Plan established <br />The HRA and the Edina City Council have previously <br />It has been <br />Rollcall : <br />Ayes: Commissioners Bredesen, Kelly, Richards, Turner, Courtney <br />Resolution adopted. <br />Councilmember Kelly then introduced the following resolution and moved its <br />adoption: <br />RESOLUTION APPROVING THE FIRST AMENDMENT <br />TO THE 1985 AMENDMENT TO THE SOUTHEAST <br />EDINA REDEVELOPMENT PLAN AND SALE OF <br />LAND TO THE HOUSING AND REDEVELOPMENT <br />AUTHORITY OF EDINA, MINNESOTA <br />BE IT RESOLVED by the City Council of the City of Edina, Minnesota, as follows: <br />1. Recitals. <br />Minnesota (the "HRA") have previously approved a redevelopment plan and rede- <br />velopment project, under Minnesota Statutes, Section 462.411, et. seq., and <br />a tax increment financing plan, as defined in Minnesota Statutes, Section 273.73, <br />subdivision 9, designated as the Southeast Edina Redevelopment Plan (the "Plaa). <br />The Plan established a tax increment financing district, as defined in Minnesota <br />Statutes, Section 273.73, subdivision 9 (the "District"). This Council and the <br />HRA have previously approved amendments to the Plan designated as the 1985 Amend- <br />ment to the Southeast Edina Redevelopment Plan (the "1985 Amendment"), which <br />include, among other things, the establishment of an interest reduction program <br />under the provisions of Minnesota Statutes, Section 462.445, subdivision 11. <br />The HRA has approved additional amendments to the Plan designated as the First <br />This Council and the Housing and Redevelopment Authority of Edina,