05-941r
115
HRA RESOLUTION NO. 941
RESOLUTION APPROVING AGREEMENT AND
AGREEING TO ACCEPT AND ADMINISTER FUNDS.
WHEREAS, the Housing and Redevelopment Authority in and for the City of Richfield,
Minnesota (the "Authority") is undertaking a redevelopment project called Cedar Point, hereinafter
called the "Project"; and
WHEREAS, the Project is included within The Richfield Redevelopment Project Area, duly
established by Resolution No. 8030, adopted on June 14, 1993 (the "Project Area"); and
WHEREAS, the City of Richfield is expected to provide financial assistance to the Project,
which will include tax abatements; and
WHEREAS, the Project fits within the goals of a multi-jurisdictional reinvestment program
authorized under Minnesota Statutes Section 383B.79 by including corridor planning, acquisition of
property, development of commercial projects andjob creation; and
WHEREAS, the Board of Commissioners of the County has approved the Project, and the
multi-jurisdictional reinvestment program (the "Program"), and authorized the County's
participation in the Project; and
WHEREAS, the Authority and the HCHRA have the authority to undertake and participate
in the Project pursuant to Minnesota Statutes Sections 469.001 to 469.047, 469.1812 to 469.1815
and other applicable law; and
WHEREAS, the County is authorized to contribute funds to the Project pursuant to
Minnesota Statutes, Sections 383B.79 and 469.041 and other applicable law; and
WHEREAS, the funds provided by the County for will be used to pay qualifying costs
incurred for the Project, which are limited to appraisal costs, real estate purchase costs, demolition
costs, environmental investigation/remediation costs, and relocation benefits; and
WHEREAS, the funds provided by the County to the City will be furnished by the City to
the Authority for reimbursement of such qualifying costs.
WHEREAS, in accordance with the provisions of Minnesota Statutes, Sections 383B.79 and
471.59 a proposed Cooperative Agreement for Cedar Point Project (the "Agreement") has been
presented to the Authority for its consideration; and
WHEREAS, the Authority has reviewed the proposed Agreement and received the
recommendation of staff that the Agreement be approved;
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NOW, THEREFORE, BE IT RESOLVED By the Housing and Redevelopment Authority
in and for the City of Richfield, Minnesota as follows:
1. The Agreement is approved in substantially the form presented.
2. The Authority Chair and Executive Director are authorized execute the Agreement
on behalf of the Authority and to take all actions and do all things that are reasonable
necessary to the fulfillment of the Authority's obligations under the Agreement.
Adopted by the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota this 18th day of January, 2005.
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Joan HeImberger, Vice Ch r
ATTEST:
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Kristal Stokes, Secretary
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