04-918r
92
HRA RESOLUTION NO. 918
RESOLUTION MODIFYING TAX INCREMENT DISTRICT
BY THE ELIMINATION OF A PORTION OF A PARCEL THEREFROM
(6855 Penn Avenue)
BE IT RESOLVED, by the Housing and Redevelopment Authority in and for the
City of Richfield, Minnesota (the "Authority") as follows:
1. Redevelopment Tax Increment Financing District Richfield Rediscovered
No. B-5, County Project Number 1258, (the "District") is hereby modified by eliminating
therefrom the following portion of a parcel of land, to wit:
The north 3.03 feet of Lot 11, Block 9, Wood Lake Highlands, subject to road,
Hennepin County, Minnesota
2. The current net tax capacity of the parcel is less than the original net tax
capacity of the area of land comprising the parcel.
3. Pursuant to Minnesota Statutes Section 469.175, Subdivision 4, the
Authority stipulates and agrees that, notwithstanding Minnesota Statutes Section
469.177, subdivision 1, the original net tax capacity of the District will be reduced by no
more than the current net tax capacity of the parcel of land described in paragraph 1
above.
4. The Executive Director is hereby authorized and directed to provide the
County Auditor with all information and documents necessary to carry out the objectives
of this resolution.
Adopted by the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota this 15th day of March, 2004.
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'omas E. Harms, Chair
ATTEST:
Kn!J.1<1 ~LVJ
Kristal Stokes, Secretary