94-8114r71
RESOLUTION NO. 8114
RESOLUTION APPROVING MODIFICATION NO. 7 TO THE
LYNDALE/HUB/NICOLLET COMMERCIAL IMPROVEMENT PROGRAM
AND PLAN RELATING THERETO
BE IT RESOLVED by the City Council of the City of Richfield,
Minnesota as follows:
Section 1. Recitals
1.01. The Housing .and Redevelopment Authority in and for the
City of Richfield, Minnesota (HRA) approved a redevelopment plan
for an urban renewal project for the "Lyndale/Hub/Nicollet
Commercial Improvement Program" (Plan) on October 15, 1975.
1.02. The City Council of the City of Richfield Minnesota
(City) held a public hearing on the Plan and approved the Plan on
November 24, 1975.
1.03. The Plan has been previously modified.
1.04. The need for further redevelopment and property
acquisition has prompted the HRA to prepare a modified Plan.
1.05. It has been determined that the acquisition of the
property described in Attachment A is necessary to implement the
Plan and to carry out the purposes of the Plan.
1.06 The monies for the purchase of this property are
available in the LHN tax increment fund.
1.07. On January 18, 1994, the HRA approved the modified Plan
contingent upon review and a favorable finding by the Richfield
Planning Commission, and referred the Plan to the City for public
hearing and consideration as provided by Minn. Stat., Sections
469.001 to 469.047 (HRA Act) and Minn. Stat., Sections 469.174 to
469.179 (TIF Act).
1.08. The modified Plan was referred to the Richfield
Planning Commission which on January 25, 1994 found the Plan to
conform and not be in conflict with the general plans for the
development or redevelopment of the city as a whole.
1.09. Copies of the modified Plan have been forwarded to
Independent School District No. 280, Intermediate School District
No. 287, and Hennepin County along with a notice of the public
hearing as required by the TIF Act.
1.10. The City Council has fully reviewed the contents of the
modified Plan and has this date conducted a public hearing thereon
at which the views of all interested persons were heard.
Resolution No. 8114
Page 2
Section 2. Modified Lyndale/Hub/Nicollet Commercial
Improvement Program and Plan adopted.
2.01. Except for the modification stated herein, and as
required by Section 469.179 of the TIF Act, the City reaffirms its
findings and conclusions as approved on November 24, 1975 and in
subsequent modifications and reaffirms its intention that the LHN
continue to be regulated as a TIF project approved prior to August
1, 1979.
2.02. Modification No. 7 to the Lyndale/Hub/Nicollet
Commercial Improvement Program and Plan is hereby approved
including the method proposed for financing.
2.03. The HRA is requested to file a copy of the modified
Plan with the Minnesota Commissioner of Revenue as required by the
TIF Act.
2.04. The City Clerk is authorized and directed to transmit a
certified copy of the Resolution to the HRA.
Passed by the City Council of the City of Richfield, Minnesota
this 28th day of February, 1994.
Martin J. K rs h, Mayor
~TTESTY
Thomas P. Ferber, City Clerk
Resolution No. 8114
ATTACHMENT A
LEGAL DESCRIPTION
LOt 2, Block 1, RICHFIELD BANK ADDITION
Res. 8114
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