2000 HRA Resolution 0752
HRA RESOLUTION NO. 752
RESOLUTION APPROVING AND RATIFYING ACTIONS
TAKEN BY THE RICHFIELD CITY COUNCIL;
RELATING TO TAX INCREMENT FUND ACCOUNTS
WHEREAS,
the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota (the "HRA") is a housing and redevelopment authority duly
constituted and organized under law, with all of the powers enumerated in Minnesota
Statutes, Sections 469.001 to 469.047 (the "Act"); and
WHEREAS,
the HRA has established various tax increment financing districts (“TIF
districts”) within the limits of the City of Richfield, and the City Council of the City of
Richfield has approved the establishment of the TIF districts; and
WHEREAS,
the City of Richfield has established various accounting funds as the
repository for tax increment revenues generated by the TIF districts and paid to the City of
Richfield by the County of Hennepin; and
WHEREAS,
the HRA is obligated by various development agreements to make
certain payments from the TIF funds, including payments to developers under various
notes executed as part of the various developments; and
WHEREAS,
in the past, payments due and payable to developers under such
notes were processed as City claims and were approved and paid at the direction of the
City Council of the City of Richfield; and
WHEREAS,
theHRA’s auditing consultant has recommended that the HRA
approve and ratify said payments.
NOW, THEREFORE, BE IT RESOLVED
by the Housing and Redevelopment
Authority in and for the City of Richfield, Minnesota as follows:
1. The Board hereby ratifies the past actions of the City staff and City Council in
processing, approving, and making payments from the following funds:
Fund No.Fund Name
452Clover Leaf/Office Site
453Naegele/Galyan's Development
480Development Fund
481LHN Tax Increment
482ILN Tax Increment
483CABA Tax Increment
485RR Tax Increment
486Interchange Tax Increment
2. This resolution is effective as to all payments made from each of the above
funds since the respective date on which each fund was established, to the extent that the
payments were approved by the City Council of the City of Richfield and were not
previously approved by the Board of the Housing and Redevelopment Authority in and for
the City of Richfield.
Adopted by the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota this 18th day of January, 2000.
____________________________________
Thomas E. Harms, Chair
ATTEST:
______________________________
Michael Sandahl, Secretary