14-1174r RESOLUTION NO. 1174
RESOLUTION DESIGNATING BUILDINGS AS STRUCTURALLY
SUBSTANDARD WITHIN RICHFIELD REDEVELOPMENT PROJECT
BE IT RESOLVED By the Board of Commissioners ("Board") of the Richfield Housing and
Redevelopment Authority("Authority")as follows:
Section 1. Recitals.
1.01. Under Minnesota Statutes, Section 469.174, subd. 10(d), the Authority is authorized to deem
parcels as occupied by structurally substandard buildings despite prior demolition or removal of the buildings,
subject to certain terms and conditions as described in this resolution.
1.02. The Authority intends to cause demolition of the buildings located on the property described
in Exhibit A hereto (the "Designated Property"), and may in the future include the Designated Property in a
redevelopment or renewal and renovation tax increment financing district as defined in Minnesota Statutes,
Sections 469.174, Subd. 10 or Subd. 10a.
Section 2. Buildings Designated Substandard: Other Proceedings.
2.01. The Authority finds that the buildings on the Designated Property as described in Exhibit A are
structurally substandard to a degree requiring substantial renovation or clearance, based upon the analysis of
such buildings by LHB Architects dated January 9, 2014 and on file in City Hall.
2.02. After the date of approval of this resolution, the buildings on the Designated Property may be
demolished or removed by the Authority, or such demolition or removal may be financed by the Authority, or
may be undertaken by a developer under a development agreement with the Authority.
2.03. The Authority intends to include the Designated Property in a redevelopment or renewal and
renovation tax increment financing district, and to file the request for certification of such district with the
Hennepin County auditor within three years after the date of demolition of the buildings on the Designated
Property.
2.04. Upon filing the request for certification of the new tax increment financing district, the Authority
will notify the Hennepin County auditor that the original tax capacity of the Designated Property must be
adjusted to reflect the greater of (a) the current net tax capacity of the parcel, or (b) the estimated market
value of the parcel for the year in which the buildings were demolished or removed, but applying class rates
for the current year, all in accordance with Minnesota Statutes, Section 469.174, subd. 10(d).
2.05. Authority staff and consultants are authorized to take any actions necessary to carry out the
intent of this resolution.
Approved by the Board of Commissioners of the Richfield Housing and Redevelopment Authority this
22nd day of January, 2014.
A `T: �, /
Cl,4 A i , , , , „, , � -
Sec.,etary