01-803r
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HRA RESOLUTION NO. 803
RESOLUTION MODIFYING THE REDEVELOPMENT PLAN
FOR THE RICHFIELD REDEVELOPMENT PROJECT AREA AND
MODIFYING THE TAX INCREMENT FINANCING PLANS FOR THE
GRAMERCY TAX INCREMENT FINANCING DISTRICT;
THE URBAN VILLAGE TAX INCREMENT FINANCING DISTRICT;
THE RICHFIELD REDISCOVERED 1999 TAX INCREMENT FINANCING DISTRICT;
THE A-5 TAX INCREMENT FINANCING DISTRICT; AND
THE B-5 TAX INCREMENT FINANCING DISTRICT
WHEREAS, it has been proposed that the Housing and Redevelopment Authority in
and for the City of Richfield, Minnesota (the "HRA") adopt the Modification to the
Redevelopment Plan for the Richfield Redevelopment Project Area, Modification to the Tax
Increment Financing (UTIF") Plan for the Gramercy TIF District, Modification to the TIF Plan
for the Urban Village TIF District, Modification to the TIF Plan for Richfield Rediscovered
1999 District; Modification to the TIF Plan for the A-5 District; and Modification to the TIF
Plan for the 8-5 District (collectively, the "Modifications"), 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 Mod ifications
and presented for the HRA's consideration; and
WHEREAS, the HRA has investigated the facts relating to the Modifications and
has caused the Modifications to be prepared; and
WHEREAS, by Resolution No. 784 the HRA approved the Modifications, but the
HRA has determined a need to clarify its prior action by expressly approving the expansion
of the boundaries of the Richfield Rediscovered 1999 TIF District to add certain parcels.
NOW, THEREFORE, BE IT RESOLVED by the Housing and Redevelopment
Authority in and for the City of Richfield as follows:
1) The HRA hereby approves the modification to the Richfield Redevelopment Project
Area Plan.
2) The HRA hereby approves the modification to the TIF plans for the Grammercy, Urban
Village, Richfield Rediscovered 1999, A-5 and 8-5 TIF Districts, as described in the
Mod ifications.
3) The HRA makes all the findings relating to the Redevelopment Plan and the TIF
Districts that are set forth in the Modifications, which findings are incorporated herein
by reference.
4) Conditioned upon the approval thereof by the City Council following its public hearing
thereon, the Modifications, as presented to the HRA on this date, are hereby approved,
established and adopted and shall be placed on file in the Community Development
Department at the City of Richfield.
5) The geographic boundaries of the Richfield Rediscovered TIF District are expanded to
add the parcels identified in the TIF Plan for that district; and the A-5 and 8-5 TIF
Districts are modified to remove the identified parcels from those districts for inclusion I
in the Richfield Rediscovered 1999 TIF District. The Redevelopment Project boundary
and the boundaries of all the other referenced TIF District are not changed by this
action.
6) City staff, the HRA's advisors and legal counsel are authorized and directed to proceed
with the implementation of the Modifications upon approval of the Modifications by the
City Council 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 or any
Development Agreement with any developer.
7) Upon approval of the Plans by the City Council, the Executive Director is authorized to
forward a copy of the Plans to the Hennepin County Director of Property Taxation,
together with a request to certify the original tax capacity of the parcels added to the
RichfieJd Rediscovered TIF Dj~trict, and to remove the identified parcels from the A-5
and 8-5 TIF Districts.
Approved by the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota this 16th day of January, 20fj)
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Thomas Harms, Chair
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