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RESOLUTION NO. 9236
RESOLUTION APPROVING THE DECERTIFICATION OF THE
L YNDALE-HUB-NICOLLET TAX INCREMENT FINANCING DISTRICT
OF THE CITY OF RICHFIELD
WHEREAS, on November 24, 1975, the Lyndale-Hub-Nicollet Tax Increment
Financing District (the "LHN District") was created within the Richfield Redevelopment Project
Area (the "Project"); and
WHEREAS, as of the date hereof all bonds and obligations to which tax increment
from the LHN District have been pledged have been paid in full or defeased and all other
costs of the Project have been paid; and
WHEREAS, the City Council of the City of Richfield desires by this Resolution to
cause the decertification of the LHN District after which all property taxes generated by
property within the District will be distributed in the same manner as all other property taxes.
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Richfield
that the LHN District should be deemed decertified as of December 31, 2002, and that the
City's staff is authorized and directed to transmit a copy of this resolution to the County
Auditor of Hennepin County with a request that the auditor decertify the LHN District as a tax
increment district and to remit no tax increment from the LHN District to the City of Richfield
after December 31,2002.
Adopted by the City Council of the City of Richfield, Minnesota this 24th day of
September, 2002.
/07'd;(fJ ~JJ
Martin J. Ki , Mayor
Attest:
'-1lClA~ ltu.,
Nancy Gibbs, Ity Clerk