98-8558r
16
RESOLUTION NO. 8558
RESOLUTION MODIFYING WITHIN REDEVELOPMENT PROJECT AREA A,
TAX INCREMENT FINANCING DISTRICTS A-1, A-2, A-3 AND A-4 AND
ADOPTING THE MODIFICATIONS TO THE TAX INCREMENT FINANCING PLAN
RELATED THERETO; MODIFYING WITHIN REDEVELOPMENT PROJECT AREA B,
TAX INCREMENT FINANCING DISTRICTS B-1, B-2, B-3 ANDB-4 AND
ADOPTING THE MODIFICATIONS TO THE TAX INCREMENT FINANCING PLAN
RELATED THERETO
BE IT RESOLVED by the City Council (the "Council") of the City of Richfield,
Minnesota (the "City) as follows:
Section 1. Recitals
1.01 The Housing and Redevelopment Authority in and for the City of Richfield
(the "HRA") has heretofore established Redevelopment Project Area A and adopted the
Redevelopment Plan thereto and established Redevelopment Project Area 8 and
adopted the Redevelopment Plan thereto. It has been proposed that the City adopt the
Modification to the Tax Increment Financing Plans (collectively, the "Modifications"); for
Tax Increment Financing Districts A-1, A-2, A-3, A-4, 8-1, 8-2, 8-3 and 8-4 (collectively,
the "Districts") to clarify the budgets, clarify indebtedness, and identify parcels which
have been certified in the Districts; all pursuant to and in conformity with applicable law,
including Minnesota Statutes, Sections 469.001 through 469.047 through 469.174
through 469.179, all inclusive, as amended, all as reflected in the Modifications and
presented for the Council's consideration.
1.02 The Council has investigated the facts relating to the Modifications and
has caused to be prepared the Modifications.
1.03 The City or HRA has performed all actions required by law to be
performed prior to the adoption and approval of the proposed Modifications, including,
but not limited to, notification of Hennepin County and School District No. 280 having
taxing jurisdiction over the property to be included in Districts, notice of the
Modifications to the redevelopment districts to the local county commissioner, a review
of and written comment by the Planning Commission on the consistency of the
Modifications with the City's comprehensive plan, and the holding of a pubic hearing
upon published notice as required by law.
Section 2. Findinqs for the Modifications
2.01. The Council is not modifying the boundaries of the Districts.
2.02 The Council hereby affirms its original findings that the Districts are in the
public interest and are "redevelopment districts" under Minnesota Statutes, Section
469.174, subd. 10(a)(1).
2.03 The Modifications conform to the general plan for the development of the
City as a whole as found by the Planning Commission on January 27, 1998.
Resolution No. 8558 -2-
Section 3. Aooroval of the Modifications: Filina
3.01 The Modifications, as presented to the Council on this date, including
without limitation the findings and statements of objectives contained therein, are
hereby approved, ratified, and adopted and shall be placed on file in the office of the
City Clerk.
3.02 The staff of the City, the City's advisors and legal counsel are authorized
and directed to proceed with the implementation of the Modifications and to negotiate,
draft, prepare and present to this Council for its consideration all further plans,
resolutions, documents and contracts necessary for this purpose.
3.03 The staff of the City are authorized to file the Modifications with the State
Department of Revenue.
3.04 The Council hereby concurs in the resolution of the HRA approving the
Modifications.
Adopted by the City Council of the City of Richfield, Minnesota this 23rd day of
February, 1998.
0cW%~W
Martin J. Kirs , ayor
ATTEST:
~iI~ f?~ /
Thomas P. Ferber, City Clerk --