98-8580r
38
RESOLUTION NO. 8580
RESOLUTION AUTHORIZING THE
ELIMINATION OF PARCELS FROM THE LHN TAX INCREMENT FINANCING
DISTRICT WITHIN THE CITY OF RICHFIELD
WHEREAS, on November 24, 1975, the City of Richfield (the "City") created its
LHN Tax Increment Financing District; and
WHEREAS, the City desires by this resolution to cause the elimination of the
following parcels (collectively, the "parcels"):
27-028-24-32-0006
27-028-24-32-0117
27 -028-24-32-0005
27-028-24-32-0115
from within the LHN Tax Increment Financing District thereby reducing the size of the
LHN Tax Increment Financing District; and
WHEREAS, since the current net taf( capacity of the parcels to be eliminated
from the LHN Tax Increment Financing District equals or exceeds the net tax capacity
of the parcels in the LHN Tax Increment Financing District's original net tax capacity,
the holding of a public hearing is not required by Minnesota Statutes, Section 469.175,
subd. 4;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Richfield that the parcels are hereby eliminated from the LHN Tax Increment Financing
District and the City's staff shall take such action as is necessary to notify the County
Auditor of the reduction in the geographic area of the LHN Tax Increment Financing
District caused by the elimination of such parcel.
Adopted by the City Council of the City of Richfield, Minnesota this 22nd day of
June, 1998.
/:7~~ IU
Martin J. Ki , Mayor
ATTEST:
'1Y~ t7?"'~
Thomas P. Ferber, City Clerk