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HRA RESOLUTION NO. 853
RESOLUTION ESTABLISHING THE CITY BELLA TAX INCREMENT
FINANCING DISTRICT (A REDEVELOPMENT DISTRICT) WITHIN THE
RICHFIELD REDEVELOPMENT PROJECT AREA AND ADOPTING A
TAX INCREMENT FINANCING PLAN THEREFOR
WHEREAS, it has been proposed by the Housing and Redevelopment Authority
in and for the City of Richfield, Minnesota (the "Authority") that the Authority establish
the City Bella Tax Increment Financing District (the "District") and adopt a Tax
Increment Financing Plan (the "Plan") therefore; and
WHEREAS, the Authority has investigated the facts related to the establishment
of the District and the adoption of the Plan, and has caused the appropriate documents
to be prepared; and
WHEREAS, the Authority has performed all the actions required to be taken by it
prior to creation of the District and the adoption of the Plan.
NOWTHEREFORE, BE IT RESOLVED by the Housing and Redevelopment
Authority in and for the City of Richfield as follows:
I. Creation of the District is hereby approved.
II. The Plan is hereby adopted.
III. The Executive Director is instructed to transmit the approved Plan to the City
of Richfield for consideration by it in accordance with the provisions on
Minnesota Statutes, Section 469.175 Subd. 3. The Executive Director is
further instructed to provide the City with information necessary to assist it in
making the findings called for to establish the District and Plan.
IV. Upon approval by the City, the documents shall be placed on file in the office
of the Community Development Director for the City.
V. Upon approval by the City, the Community Development Director is
authorized and directed to forward a copy of the documents to the Minnesota
Department of Revenue pursuant to Minnesota Statutes, Section 469.175,
Subd. 4a., and to forward a copy to the Hennepin County Auditor and request
that the Auditor certify the original tax capacity of the District all in accordance
with Minnesota Statutes, Section 469.177.
Approved by the Housing and Redevelop e Authority in and for the City of
Richfield, Minnesota this 20th day of May,