94-8163r25
RESOLUTION N0. 8163
RESOLUTION APPROVING THE REDEVELOPMENT PLANS AND TAX INCREMENT
FINANCING PLANS FOR THE RICHFIELD REDISCOVERED PROGRAM
BE IT RESOLVED by the City Council of the City of Richfield,
Minnesota (City) as follows:
Section 1. Recitals.
1.01 The Housing and Redevelopment Authority in and for the
City of Richfield, Minnesota (Authority) has previously
identified areas within the City as being in need of
development, redevelopment and construction of new single
family homes in order to provide families and individuals
living in a substandard, poor quality environment an
opportunity to move to standard housing by establishing a
cash market for their existing housing and to provide an
opportunity for Richfield to accommodate families
currently residing in Richfield or elsewhere who are
seeking larger housing units with features popular in
today's market.
1.02 The Authority has previously adopted, and the City has
previously approved, a Redevelopment Plan for Project Area
"A", a Redevelopment Plan for Project Area "B", a Tax
Increment Financing Plan for Tax Increment District "A-1"
and a Tax Increment Financing Plan for Tax Increment
District "B-1", all relating to the Richfield Rediscovered
Program (Project), which plans collectively call for
public and private expenditures to encourage development,
redevelopment and new construction of single family homes
within the project areas.
1.03 The Authority has previously adopted, and the City has
previously approved a modified Redevelopment Plan for
Project Area "A", a modified Redevelopment Plan for
Project Area "B", a modified Plan for Tax Increment
District "A-1", a modified Plan for Tax Increment District
"B-1", a Tax Increment Financing Plan for Tax Increment
Financing District "A-2" and a Tax Increment Financing
Plan for Tax Increment District "B-2" (collectively,
Plans), dated July 20, 1992, which Plans are on file with
the Authority.
1.04 The Authority has adopted a modified Redevelopment Plan
for Project Area "A", a modified Redevelopment Plan for
Project Area "B", a modified Plan for Tax Increment
District "A-2", a modified Plan for Tax Increment District
"B-2", a Tax Increment Financing Plan for Tax Increment
Financing District "A-3" and a Tax Increment Financing
Plan for Tax Increment Financing District "B-3",
(collectively, Plans), dated June 20, 1994, which Plans
are on file with the Authority.
1.05 In accordance with the Housing and Redevelopment
Authorities Act and Tax Increment Financing Act
(collectively, Acts), the Plans were referred to the
Richfield Planning Commission which on June 28, 1994 found
that they conform to and are not in conflict with the
general plan for redevelopment of the City as a whole.
Resolution No. 8163
Page 2
1.06 The Authority on June 20, 1994 approved the Plans and
referred them to the City Council for a public hearing to
be held by the City as required by the Acts.
1.07 Copies of the Plans have been forwarded to the board of
Independent School District No. 280, Intermediate School
District No. 287, and to the board of commissioners of
Hennepin County along with the Authority's estimate of the
fiscal impact on other taxing jurisdictions of
establishing Tax Increment Financing District "A-3" and
Tax Increment Financing District "B-3'°. Notice of public
hearing on the Plans to be held by the City was also sent
to the school districts and county as required by the
Acts.
1.08 This Council has fully reviewed the contents of the Plans
and has this date conducted a public hearing thereon at
which the views of all interested persons were heard.
Section 2. Findings; Redevelopment Projects• Modified Plans.
2.01 It is hereby found and determined that within the Project
there exist conditions of physical deterioration, economic
obsolescence and unsafe, unsanitary and other poor housing
used or intended to be used for living which are injurious
to the health, safety, morals and welfare of the citizens
of this community.
2.02 It is further specifically found and determined that:
a.) The property in the Project would not be made
.available for redevelopment without the public
intervention and financial assistance described in
the Plans;
b.) The modified Redevelopment Plans for the Project
will afford maximum opportunity, consistent with
the sound needs of the City as a whole, for the
redevelopment of the Project by private
enterprise; and
c.) The modified Redevelopment Plans conform to the
general redevelopment plan of the City as set
forth in the comprehensive municipal plan.
2.03 The findings in this section are made in compliance with
Section 469.08, subdivision 2 of the Housing and
Redevelopment Authorities Act for the purpose of showing
the City's intent to exercise, in conjunction with the
authority, the powers granted to the City and the
Authority by the Act.
Section 3. Findings; Tax Increment Financing Districts "A-2" and
"B-2"; Modified Plans.
3.01 It is hereby found that the modified Plans for Tax
Increment Financing Districts "A-2" and "B-2" are
necessary to permit development and improvement of the
Project Areas to their full potential.
Resolution No. 8163
Page 3
3.02 The modified Plans for Tax Increment Financing Districts
"A-2" and "B-2" are aonsisteit with the modified Plans for
the Project Areas.
3.03 The modified Plans for Tax Increment Financing Districts
"A-2" and "B-2" are consistent with the general plans for
the development of the City as a whole.
Section 4. Findings; Tax Increment Financing Districts "A-3" and
"B-3"
4.01 Tax Increment Financing Districts "A-3" and "B-3", which
are hereby established in the Project Areas, are
redevelopment Tax Increment Financing Districts within the
meaning of Section 469.174, subd. 10(a)(1) of the TIF Act.
4.02 It is found and determined that it is necessary and
desirable to the sound and orderly development and
redevelopment of the Project Areas and the City as a
whole, and for the protection and preservation of the
public health, safety and general welfare that the
authority of the TIF Act be exercised by the Authority and
the City to provide public financial assistance within the
Project Areas.
4.03 It is further found and determined, and it is the reasoned
opinion of the Authority and the City, that the
redevelopment proposed in the Plans for Tax Increment
Financing Districts "A-3" and "B-3" could not reasonably
be expected to occur solely through private investment
within the reasonable foreseeable future and that
therefore the use of tax increment financing is necessary.
4.04 The Plans for Tax Increment Financing Districts "A-3" and
"B-3" conform to the general plan for redevelopment of the
City as a whole.
4.05 The proposed public improvements to be financed largely
through tax increment financing are necessary to permit
the City to realize the full potential of the Project
Areas in terms of development intensity, employment
opportunities and tax base.
Section 5. Plans Modified; Districts Established; Certification•
Filing.
5.01 The Plans are hereby approved and adopted.
5.02 The geographic boundaries of Redevelopment Project Area
"A" and the TIF districts are as described in the Plans,
which documents area hereby adopted by reference. A
change has been made in the geographic boundaries of
Redevelopment Project Area "B". No changes have been made
in the geographic boundaries of Tax Increment Financing
Districts "A-2" or "B-2" as a result of the Plans hereby
approved.
Resolution No. 8163
Page 4
5.03 A copy of the staff report and findings, which was the
basis upon which the Authority and City concluded that Tax
Increment Financing Districts "A-3" and "~-3'° qualified as
redevelopment tax increment financing districts shall be
retained by the Authority for the duration of the TIF
districts.
5.04 The Authority is requested to file a copy of the Plans
with the Minnesota commissioner of revenue as required by
the TIF Act.
5.05 The Authority intends to request that the City assist from
time to time in financing the public redevelopment costs
identified in the TIF Plans from capital proceeds from
land sale, tax increment from the TIF districts,
development account fund revenue, and other revenues.
5.06 The Authority also intends to request that the City from
time to time consider various other actions necessary to
the implementation of the Plans and pledges its
cooperation with the City in achieving the objectives of
the Plans.
5.07 The City Clerk is authorized and directed to transmit a
certified copy of this resolution to the Authority.
Passed this 25th day of July,`. 1994 by the City Council of the
City of Richfield, Minnesota. ~ °~
(f6 1
Martin Ki s h, Mayor
ATTE T:
Thomas P. Ferber, City Cler