1998 HRA Resolution 0658
HRA RESOLUTION NO. 658
RESOLUTION MODIFYING WITHIN REDEVELOPMENT PROJECT AREA “A”,
TAX INCREMENT FINANCING DISTRICTS A-1, A-2, A-3 AND A-4, AND ADOPTING
THE MODIFICATIONS TO THE TAX INCREMENT FINANCING PLANS RELATED
THERETO; MODIFYING WITHIN REDEVELOPMENT PROJECT AREA “B”,
TAX INCREMENT FINANCING DISTRICTS B-1, B-2, B-3 AND B-4 AND ADOPTING
THE MODIFICATIONS TO THE TAX INCREMENT FINANCING PLANS RELATED
THERETO; ALL RELATED TO THE RICHFIELD REDISCOVERED
NEW CONSTRUCTION PROGRAM
WHEREAS,
it has been proposed that the Housing and Redevelopment
Authority in and for the City of Richfield, Minnesota (the "HRA") modify the Tax
Increment Financing Plans (collectively, the "Modifications") for Tax Increment
Financing Districts A-1, A-2, A-3, A-4, B-1, B-2, B-3 and B-4 (the “Districts”), all related
to the Richfield Rediscovered New Construction Program, to clarify the budgets to meet
new formats for financial reporting for tax increment, clarify indebtedness, and identify
parcels which have been certified in each district, all pursuant to and in conformity with
existing law, including Minnesota Statutes, Sections 469.001 through 469.047, and
Sections 469.174 to 469.179, inclusive, as amended, all as reflected in the
Modifications and presented for the HRA's consideration; and
WHEREAS,
the HRA has investigated the facts relating to the Modifications and
has caused the Modifications to be prepared; and
WHEREAS,
the proposed developments, as described in the Modifications, in
the opinion of the HRA, would not reasonably be expected to occur solely through
private investment within the reasonable foreseeable future and, therefore, the use of
tax increment financing is deemed necessary; and
WHEREAS,
the HRA has performed all actions required by law to be performed
prior to the adoption of the Modifications, including but not limited to notification of
Hennepin County and School District No. 280 having taxing jurisdiction over the
property to be included in Tax Increment Financing District Nos. A-1, A-2, A-3, A-4, B-
1, B-2, B-3 and B-4, notice of a potential redevelopment district to the local county
commissioner, a request for review of and written comment by the City Planning
Commission regarding consistency of the Modifications with the City’s Comprehesive
Plan, and a request that the City Council schedule a public hearing on the
Modifications upon published notice as required by law.
NOW, THEREFORE, BE IT RESOLVED
by the Housing and Redevelopment
Authority in and for the City of Richfield as follows:
1)The HRA is not modifying the boundaries of Tax Increment Financing Districts A-1,
A-2, A-3, A-4, B-1, B-2, B-3 and B-4 nor modifying the boundaries of
Redevelopment Projects Area A and B.
2)The HRA reaffirms the findings previously made with respect to Tax Increment
Financing Districts A-1, A-2, A-3, A-4, B-1, B-2, B-3 and B-4.
HRA Resolution No. 658-2-
3)Conditioned upon the approval thereof by the City Council following its public
hearing thereon, the Modifications, as presented to the HRA on this date, are
hereby approved and adopted and shall be placed on file in the office of the City
Clerk.
4)Upon approval of the Modifications by the City Council and the Planning
Commission, the staff, the HRA's advisors and legal counsel are authorized and
directed to proceed with the implementation of the Modifications and for this
purpose to negotiate, draft, prepare and present to this Board for its consideration
all further plans, resolutions, documents and contracts necessary for this purpose.
5)Upon approval of the Modifications by the City Council, the City Clerk is authorized
to forward a copy of the Modifications to the Hennepin County Auditor and the
Minnesota Department of Revenue pursuant to Minnesota Statutes 469.175,
subdivision 2.
Approved by the Housing and Redevelopment Authority in and for the City of
Richfield this 20th day of January, 1998.
_______________________________
Thomas E. Harms, Chair
ATTEST:
__________________________
Michael Sandahl, Secretary