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HRA RESOLUTION NO. 860
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 ("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 Housing and Redevelopment Authority in and for 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 HRA that the LHN District should
be deemed decertified as of December 31, 2002, and that the HRA'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.
Approved by the Housing and Redevelopment uthority in and for the City of
Richfield, Minnesota this 16th day of September 200