1998 HRA Resolution 0667
HRA RESOLUTION NO. 667
RESOLUTION APPROVING THE MODIFIED REDEVELOPMENT PLAN FOR THE
RICHFIELD REDEVELOPMENT PROJECT AREA AND ADOPTING THE TAX
INCREMENT FINANCING PLAN FOR THE GRAMERCY TAX INCREMENT
FINANCING DISTRICT; REQUESTING THE RICHFIELD CITY COUNCIL TO
CONDUCT A PUBLIC HEARING THEREON; AND RECOMMENDING APPROVAL OF
THE PLANS
BE IT RESOLVED
by the Housing and Redevelopment Authority in and for the
City of Richfield, Minnesota as follows:
Section.Recitals.
1.01. The Housing and Redevelopment Authority in and for the City of Richfield,
Minnesota (HRA) adopted a redevelopment plan (the “Redevelopment Plan”) for the
area of the City generally known as the Richfield Redevelopment Area on May 17, 1993.
1.02. The City Council of the City of Richfield (City) held a public hearing on the
Redevelopment Plan for the Richfield Redevelopment Project Area and approved the
Plan on June 14, 1993.
1.03 A proposal to create a new redevelopment Tax Increment Financing District,
to be heretofore known as the Gramercy Tax Increment Financing District, has
necessitated modification of the Redevelopment Plan for the Richfield Redevelopment
Project Area and the adoption of a Tax Increment Financing Plan (the “TIF Plan”) for the
Interchange Tax Increment Financing District.
1.04 Except for the modification stated herein, the HRA reaffirms its findings and
conclusions as approved in the original Plan dated May 17, 1993.
1.05 The HRA has caused to be prepared modification to the Redevelopment
Plan and the TIF Plan for the Gramercy Tax Increment Financing District, both of which
are contained in a document entitled, “Tax Increment Financing Plan for the
Establishment of the Gramercy Tax Increment Financing District, within the Richfield
Redevelopment Project Area” dated May 18, 1998, and on file with the HRA.
Section 2.HRA Approval.
2.01. The HRA finds that the objectives of the HRA in encouraging development
and redevelopment within the Richfield Project Area will be advanced by adoption of the
modified Redevelopment Plan and adoption of the TIF Plan for the Gramercy Tax
Increment Financing District.
2.02. The modified Redevelopment Plan and the TIF Plan are hereby approved
and adopted by the HRA, subject to review by the Richfield Planning Commission.
HRA Resolution No. 667-2-
Section 3.Further Proceeding.
3.01. The Executive Director of the HRA is hereby authorized and directed to
transmit copies of the Modified Redevelopment Plan and the TIF Plan to the School
Board of Independent School District No. 280, Intermediate School District No. 287, and
the Board of Commissioners of Hennepin County for review and comment and to notify
said public bodies of the public hearing to be held on the Plans by the City.
3.02. The HRA requests that the Richfield Planning Commission review the
modified Redevelopment Plan and the TIF Plan and comment regarding the consistency
of the Plans with the City’s Comprehensive Plan.
3.03. The HRA requests the City to hold the public hearing on the modified
Redevelopment Plan and the TIF Plan required by Minn.Stat. Section 469.028 and
Minn.Stat. Section 469.175, Subd. 3, as soon hereafter as is practicable and
recommends that the modified Redevelopment Plan and the TIF Plan be approved by
the City.
3.04 The HRA also intends to request that the City from time to time consider
various other actions necessary to the implementation of the Redevelopment Plan and
the TIF Plan and pledges its cooperation with the City in achieving the objectives of the
Plan.
Adopted by the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota this 18th day of May, 1998.
Thomas E. Harms, Chair
ATTEST:
Michael Sandahl, Secretary