14-1178r RICHFIELD HOUSING AND REDEVELOPMENT AUTHORITY
CITY OF RICHFIELD
HENNEPIN COUNTY
STATE OF MINNESOTA
HRA RESOLUTION NO. 1178
RESOLUTION ADOPTING A MODIFICATION TO THE REDEVELOPMENT PLAN FOR THE
RICHFIELD REDEVELOPMENT PROJECT AREA, ESTABLISHING 2014-1 TAX
INCREMENT FINANCING DISTRICT (CITY GARAGE SITE) THEREIN AND ADOPTING A
TAX INCREMENT FINANCING PLAN THEREFOR
WHEREAS, it has been proposed by the Board of Commissioners (the "Board") of the
Richfield Housing and Redevelopment Authority (the "HRA") and the City of Richfield (the
"City") that the HRA adopt a Modification to the Redevelopment Plan (the "Redevelopment Plan
Modification") for the Richfield Redevelopment Project Area (the "Project Area") and establish
the 2014-1 Tax Increment Financing District (City Garage Site) (the "District") and adopt a Tax
Increment Financing Plan (the "TIF Plan") therefor (the Redevelopment Plan Modification and
the TIF Plan are referred to collectively herein as the "Plans"), all pursuant to and in conformity
with applicable law, including Minnesota Statutes, Sections 469.001 to 469.047, and Sections
469.174 to 469.1794, inclusive, as amended (collectively the "Act"), all as reflected in the Plans
and presented for the Board's consideration; and
WHEREAS, the HRA has investigated the facts relating to the Plans and has caused the
Plans to be prepared; and
WHEREAS, certain written reports (the "Reports") relating to the Plans and to the
activities contemplated therein have heretofore been prepared by staff and consultants and
submitted to the Council and/or made a part of the City files and proceedings on the Plans. The
Reports include data, information and/or substantiation constituting or relating to the basis for
the other findings and determinations made in this resolution. The Council hereby confirms,
ratifies and adopts the Reports, which are hereby incorporated into and made as fully a part of
this resolution to the same extent as if set forth in full herein; and
WHEREAS, the HRA has performed all actions required by law to be performed prior to
the adoption of the Plans. The HRA has also requested the City Planning Commission to
provide for review of and written comment on the Plans and that the Council schedule a public
hearing on the Plans upon published notice as required by law.
NOW, THEREFORE, BE IT RESOLVED by the Board as follows:
1. The HRA hereby finds that the District is in the public interest and is a "redevelopment
district" under Minnesota Statutes, Section 469.174, Subd. 10. Based on the findings set
fort in the Plans, the HRA finds that the adoption of the proposed Plans conform in all
respects to the requirements of the Act and will help fulfill a need to develop an area of
the State of Minnesota which is already built up and that the adoption of the proposed
Plans will help provide housing opportunities in the State and in the preservation and
enhancement of the tax base of the City and the State and thereby serves a public
purpose.
2. The HRA further finds that the Plans will afford maximum opportunity, consistent with the
sound needs for the City as a whole, for the development or redevelopment of the
Project Area by private enterprise in that the intent is to provide only that public
assistance necessary to make the private developments financially feasible.
3. The boundaries of the Project Area are not being expanded.
4. The reasons and facts supporting the findings in this resolution are described in the
Plans, which are incorporated herein by reference.
5. The HRA elects to calculate fiscal disparities for the District in accordance with
Minnesota Statutes, Section 469.177, Subd. 3, clause b, which means the fiscal
disparities contribution would be taken from inside the District.
6. Conditioned upon the approval thereof by the City Council following its public hearing
thereon, the Plans, as presented to the HRA on this date, are hereby approved,
established and adopted and shall be placed on file in the office of the Community
Development Director of the City.
7. Upon approval of the Plans by the City Council, the staff, the HRA's advisors and legal
counsel are authorized and directed to proceed with the implementation of the Plans and
for this purpose to negotiate, draft, prepare and present to this Board 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 a
Development Agreement with any developer.
8. Upon approval of the Plans by the City Council, the Community Development Director of
the City is authorized and directed to forward a copy of the Plans to the Minnesota
Department of Revenue and the Office of the State Auditor pursuant to Minnesota
Statutes 469.175, Subd. 4a.
9. The Community Development Director of the City is authorized and directed to forward a
copy of the Plans to the Hennepin County Auditor and request that the Auditor certify the
original tax capacity of the District as described in the Plans, all in accordance with
Minnesota Statutes 469.177.
Approved by the Board on February 18, 2014.
Suza M. Sandahl hair
TTEST:
Doris Rubenstein Secretary