1999 HRA Resolution 0710
HRA RESOLUTION NO. 710
RESOLUTION MODIFYING THE RICHFIELD REVELOPMENT PROJECT AREA AND
ADOPTING THE MODIFICATION TO THE REDEVELOPMENT PLAN RELATING
THERETO; AND ESTABLISHING THE INTERCHANGE WEST AND LYNDALE
GATEWAY TAX INCREMENT FINANCING DISTRICT THEREIN AND ADOPTING
THE RELATED TAX INCREMENT FINANCING PLAN
WHEREAS
, it has been proposed that the Housing and Redevelopment
Authority (the “HRA”) in and for the City of Richfield (the “City”) adopt the Modification to
the Redevelopment Plans for the Richfield Redevelopment Project Area and establish
the Interchange West and Lyndale Gateway Tax Increment Financing District and adopt
the Tax Increment Financing Plan related thereto, (collectively, the “Plans”), 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 Plans and presented for the HRA’s consideration; and
WHEREAS
, the HRA has investigated the facts relating to the Plans and has
caused the Plans to be prepared; and
WHEREAS
, the proposed developments described in the Plans, in the opinion of
the HRA, would not reasonably be expected to occur solely through private investment
within the reasonably 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 Plans, including but not limited to, notification of Hennepin
County and School District No. 280 having taxing jurisdiction over the property to be
included in the Interchange West and Lyndale Gateway Tax Increment Financing
District, notice of a proposed redevelopment district to the local county commissioner, a
request for review of and written comment on the Plans by the City Planning
Commission, and a request that the Council schedule a public hearing on the Plans
upon published notice as required by law.
NOW, THEREFORE, BE ITRESOLVED
by the Housing and Redevelopment
Authority in and for the City of Richfield, Minnesota.
1.The HRA hereby finds that the Interchange West and Lyndale Gateway Tax
Increment Financing District is in the public interest and is a “redevelopment district”
under Minnesota Statutes, Section 469.174, subd. 10 (a)(1), and finds that the
adoption of the proposed Plans will advance the HRA’s and City’s objectives of
encouraging redevelopment within the Richfield Redevelopment Project Area.
HRA Resolution No. 710-2-
2.Conditioned upon the approval thereof by the City Council following its public
hearing thereon, the Plans, as presented to the HRA on this date, are hereby
approved, established and adopted and shall be placed on file in the office of
the City Clerk.
3.Upon approval of the Plans by the City Council, the staff, the HRA’s advisors
and legal counsel are authorized and directed to proceed with the
implementation of the Plans and for this purpose to negotiate, draft, prepare
and present to the HRA for its consideration all further plans, resolutions,
documents and contracts necessary for this purpose. Approval of the Plans
does not constitute approval of any project of a Development Agreement with
any developer.
4.Upon approval of the Plans by the City Council, the HRA’s Executive Director
is authorized to forward a copy of the Plans to the Minnesota Department of
Revenue pursuant to Minnesota Statutes 469.175, subdivision 2.
5.The City Clerk is authorized and directed to forward a copy of the Plans to the
Hennepin County Auditor and request that the Auditor certify the original tax
capacity of the Interchange West and Lyndale Gateway Tax Increment
Financing District as described in the Plans, all in accordance with Minnesota
Statutes 469.177.
Adopted by the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota this 17th day of May, 1999.
Thomas E. Harms, Chair
ATTEST:
Michael Sandahl, Secretary