Loading...
07-1021r RICHFIELD HOUSING AND REDEVELOPMENT AUTHORITY CITY OF RICHFIELD COUNTY OF HENNEPIN STATE OF MINNESOTA HRA RESOLUTION NO.1 021 RESOLUTION ADOPTING A MODIFICATION TO THE REDEVELOPMENT PLAN FOR THE RICHFIELD REDEVELOPMENT PROJECT AREA AND THE MODIFICATIONS OF THE CITY BELLA, INTERSTATE-L YNDALE-NICOLLET, INTERCHANGE, GRAMERCY, URBAN VILLAGE, INTERCHANGE WEST/LYNDALE GATEWAY, RICHFIELD REDISCOVERED, RICHFIELD REDISCOVERED II, AND L YNDALE GATEWAY WEST TAX INCREMENT FINANCING DISTRICTS. (REDEVELOPMENT DISTRICTS) 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 a Modification to the Tax Increment Financing Plans (the "TIF Plan Modifications") for the City Bella, Interstate- Lyndale-Nicollet, Interchange, Gramercy, Urban Village, Interchange West/Lyndale Gateway, Richfield Rediscovered, Richfield Rediscovered II, and Lyndale Gateway West Tax Increment Financing Districts (the Redevelopment Plan Modification and the TIF Plan Modifications are referred to collectively herein as the "Modifications"), all pursuant to and in conformity with applicable law, including Minnesota Statutes, Sections 469.001 to 469.047, and Sections 469.174 to 469.1799, inclusive, as amended (the "Act"), all as reflected in the Modifications and presented for the Board's consideration; and WHEREAS, the HRA has investigated the facts relating to the Modifications and has caused the Modifications to be prepared; and WHEREAS, the HRA has performed all actions required by law to be performed prior to the adoption of the Modifications. The HRA has also requested the City Planning Commission to provide for review of and written comment on Modifications and that the City Council schedule a public hearing on the Modifications upon published notice as required by law. NOW, THEREFORE, BE IT RESOLVED by the Board as follows: 1. The HRA hereby finds that the Modifications, are intended and, in the judgment of this Board, the effect of such actions will be, to provide an impetus for development in the public purposes and accomplish certain objectives as specified in the Modifications, which are hereby incorporated herein. 2. The HRA hereby reaffirms the original findings for the City Bella, Interstate-Lyndale-Nicollet, Interchange, Gramercy, Urban Village, Interchange West/Lyndale Gateway, Richfield Rediscovered, Richfield Rediscovered II, and Lyndale Gateway West Tax Increment Financing Districts, established as "redevelopment districts". 3. The HRA further finds that the Modifications 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. 4. The boundaries of the Project Area are not being expanded. 5. The reasons and facts supporting the findings in this resolution are described in the TIF Plan and in the exhibit attached to the City resolution approving the Modifications, on file in City Hall. 6. Conditioned upon the approval thereof by the City Council following its public hearing thereon, the Modifications, as presented to the HRAon this date, are hereby approved, established and adopted and shall be placed on file in the office of the Executive Director of the HRA. 7. Upon approval of the Modifications by the City Council, the staff, the HRA's advisors and legal counsel are authorized and directed to proceed with the implementation of the Modifications 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 Modifications does not constitute approval of any project or a Development Agreement with any developer. 8. Upon approval of the Modifications by the City Council, the Community Development Director is authorized and directed to forward a copy of the Modifications 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 is authorized and directed to forward a copy of the Modifications to the Hennepin County Auditor and request that the Auditor certify the original tax capacity of the District as described in the Modifications, all in accordance with Minnesota Statutes 469. 177. Approved by the Board of Commissioners of the Richfield Housing and Redevelopment Authority this 15th day of October, 2007.