12-1136r HRA RESOLUTION NO. 1136
RESOLUTION APPROVING THE DECERTIFICATION OF THE
INTERSTATE-LYNDALE-NICOLLET TAX INCREMENT FINANCING DISTRICT
OF THE CITY OF RICHFIELD
WHEREAS, on October 21, 1985, the Interstate-Lyndale-Nicollet Tax Increment
Financing District (the "ILN 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 ILN 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 of the City of Richfield
desires by this Resolution to cause the decertification of the ILN 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 Housing and Redevelopment
Authority of the City of Richfield, Minnesota that the ILN District should be deemed
decertified as of December 31, 2012, and that the Housing and Redevelopment Authority'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 ILN District as a tax
increment district and to remit no tax increment from the ILN District to the City of Richfield
after December 31, 2012.
Adopted by the Housing and Redevelopment Authority of the City of Richfield,
Minnesota this 17th day of December 2012.
All- t, a-04u7 44,,,,,64,
Su e M. Sandahl, Chair
ATTEST:
y a,
A,...,, ,. A ,
1 t
Pori-. Rubenstei , Secretary