05-17-99 agendaCITY OF RICHFIELD
MONDAY, MAY 17, 1999
REGULAR HOUSING AND REDEVELOPMENT AUTHORITY MEETING
RICHFIELD CITY HALL
COUNCIL CHAMBERS
7 P.M.
AGENDA
CALL TO ORDER
APPROVAL OF MINUTES OF REGULAR HRA MEETING OF APRIL 19, 1999
1. OPPORTUNITY FOR CITIZENS TO ADDRESS THE HRA ON ITEMS NOT ON
THE AGENDA
2. CONSIDERATION OF RESOLUTION REGARDING APPROVAL OF
MODIFICATION TO REDEVELOPMENT PLAN FOR RICHFIELD
• REDEVELOPMENT PROJECT AREA; AND ESTABLISHMENT OF
INTERCHANGE WEST AND LYNDALE GATEWAY TAX INCREMENT
FINANCING DISTRICT AND TAX INCREMENT FINANCING PLAN
HRA LETTER NO. 24
3. CONSIDERATION OF REQUEST FROM CSM PROPERTIES TO AMEND THE
CONTRACT FOR PRIVATE DEVELOPMENT FOR INTERCHANGE WEST
AREA
HRA LETTER NO. 25
4. PRESENTATION OF ANNUAL STATUS REPORT ON TAX INCREMENT
DISTRICTS
HRA LETTER NO. 26
5. CONSIDERATION OF KEY PROVISIONS OF PROPOSED MASTER
DEVELOPMENT AGREEMENT BETWEEN CITY OF RICHFIELD, RICHFIELD
HRA AND RYAN COMPANIES US, INC.
HRA LETTER NO. 27
6. PUBLIC HEARING AND CONSIDERATION OF RESOLUTION AUTHORIZING
SALE OF 6824 PARK AND 6805 IRVINE AVENUES TO WINDWOOD HOMES
INC. AND 7315 THOMAS AVENUE TO STEVE MARLIN GRANT HOMES, INC.
HRA LETTER NO. 28
7. CONSIDERATION OF RESOLUTION AUTHORIZING HRA TO ACQUIRE 7545
PENN AVENUE FROM CITY FOR APARTMENT REMODELING PROGRAM,
AND CONDUCT PUBLIC HEARING AND CONSIDERATION OF RESOLUTION
AUTHORIZING SALE OF REMNANT PARCEL AT 7545 PENN AVENUE TO
FLOYD SJOSTRAND
HRA LETTER NO. 29
8. EXECUTIVE DIRECTOR REPORT
9. CLAIMS AND PAYROLL
ADJOURNMENT
AUXILIARY AIDS FOR INDIVIDUALS WITH DISABILITIES ARE AVAILABLE UPON
REQUEST. REQUESTS MUST BE MADE AT LEAST 96 HOURS IN ADVANCE TO
THE ADMINISTRATIVE SERVICES DIRECTOR AT 612-861-9702.
•
n
HOUSING AND REDEVELOPMENT AUTHORITY
HRA Letter No. 29
Agenda May 17, 1999
Issue Statement:
Authorize the acquisition of 7545 Penn Avenue from the City of Richfield and then hold
a public hearing which authorizes the sale of the Richfield Housing and Redevelopment
Authority interest in the property to the adjoining property owner as part of the Richfield
Housing and Redevelopment Authority Apartment Remodeling Program.
Background:
Hennepin County and the City of Richfield jointly participated in installing improvements
to the intersection at 76th Street and Penn Avenue. The City's portion of the cost was
funded by the Minnesota State Aid (MSA) account. Upon project completion, remnant
parcels remained and have been vacant approximately two years. Exhibit A, attached,
represents the complete legal description for the. parcel known as 7545 Penn Avenue.
An "existing conditions" map shows the remnant parcel and is also attached as Exhibit
B. The County is in the process of conveying the parcel to the City.
With support from a Metropolitan Council Livable Communities Grant, the Richfield
Housing and Redevelopment Authority (HRA) has been working with the adjacent four
apartment owners to improve the existing five buildings and add a new building. There
are several elements to the project plan (Exhibit C):
• Off-street parking will be modified to improve appearance and access, and
provide additional parking spaces for the buildings. The off-street parking
contract was approved by the City Council on May 10.
• One driveway at 7544 Oliver Avenue will be closed, reducing driveways onto
76th Street.
• The parcel at 7544 Oliver Avenue is buildable and afour-unit building with
attached garages is underway. The owners of 7536 Oliver Avenue are
constructing the building at 7544 Oliver Avenue.
• The parcel at 7545 Penn Avenue is not buildable but provides an area for
additional off-street parking and an attractively landscaped corner. The
owner of 7539 Penn Avenue, Floyd Sjostrand, would like to acquire the
remnant parcel from the HRA and combine it with 7539 Oliver Avenue.
• A landscaping plan is being developed for the parking area to compliment the
landscaped corner.
The parcel at 7545 Penn Avenue is valued at $25,196. The County is requiring
payment for their one-half interest in the value or $12,598. The City's MSA fund also
must be reimbursed an amount of $12,598. The Livable Communities Grant to the HRA
will cover both the County's and City's shares. The property would be sold to the
adjoining owner for $1.00 given the owner's agreement for an easement for a future
right turn lane and the willingness to enter into cross easements with regards to the
• off-street parking.
Recommended Motion:
Adopt a resolution (Exhibit D), which authorizes the HRA to acquire 7545 Penn Avenue
from the City; and adopt a resolution (Exhibit E), following a public hearing, which
authorizes the sale of the property to Floyd Sjostrand.
Basis of Recommendation:
1. The City jointly participated in a road improvement project with Hennepin County,
and the County has expressed an interest in conveying the County interest in the
remnant parcel to the City. The second reading of a transitory ordinance occurred
on May 10 and allows the City to convey the 7545 Penn Avenue property to the
H RA.
2. The HRA, in partnership with adjacent apartmenf owners, has initiated an apartment
improvement initiative funded by a Metropolitan Council Livable Communities Grant
that revitalizes the parcel
3. One element of the HRA's apartment initiative is to acquire the remnant parcel at
7545 Penn Avenue from the City and convey the parcel to the adjacenf owner at
7539 Penn Avenue to provide off-street parking and Jandscaping improvements.
4. A public hearing notice has been published. for the May 17 HRA meeting.
5. The County and City MSA accounts are each being compensated $12,598 as the
cost of acquisition from the Livable Communities Grant.
6. The property, once conveyed to the adjoining owner, would improve the
appearance and function of the apartment community at 76th Street and Penn
Avenue.
Alternative Recommendation:
The HRA may choose not to acquire and sell the property. However, the vacant lot
would continue to be unfinished, and this apartment community may not be as
extensively improved.
Discussion/Decision Mode:
Amid-summer purchase of the property by the HRA and sale to the adjoining owner is
anticipated followed by the installation of the parking lot and landscaping improvements.
ng Executive Director
SLD:cak
•
Exhibit A
LEGAL DESCRIPTION
FOR
7545 PENN AVENUE SOUTH
That part of the West 182 feet of the South '/a of the Northwest % of the Southwest '/< of Section
33, Township 28, North Range 24 West of the Fourth Principal Meridian, lying South of the
North 222 feet thereof, according to the Government Survey thereof.
Reserving unto said Grantor a permanent easement for highway purposes over all that part of
the above described tract which lies westerly of a line drawn parallel with and distant 23 feet
easterly of the following described line:
Commencing at the Southwest comer of the Northwest Quarter of the Southwest
Quarter of Section 33, township 28, Range 24; thence run .easterly along the south line
of said Northwest Quarter of the Southwest Quarter on an assumed bearing of North 89
degrees 30 minutes 54 seconds East for a distance of 18.75 feet to the actual point of
beginning of the line being described; thence North 2 degrees 30 minutes 37 seconds
West for 41.69 feet; thence deflect right along a tangential curve having a radius of
3819.72 feet, for 100.00 feet and said line there terminating.
Also, reserving unto said Grantor a permanent easement for highway purposes over all that part
of the above described tract which lies southerly of a line drawn parallel with and distant 22.50
feet northerly of the following described Line A:
Commencing at the Southwest comer of the Northwest Quarter of the Southwest
Quarter of Section 33, Township 28, Range 24; thence run northerly along the west line
of said Northwest Quarter of the Southwest Quarter for a distance of 31.50 feet to the
actual point of beginning of the line being described; thence deflect right 89 degrees 43
minutes 31 seconds for 200.00 feet and said line there terminating.
Also, reserving unto said Grantor a permanent easement for highway purposes over all that part
of the above described tract which ties Southwesterly of a line drawn from a point on the West
line of the Northwest Quarter of the Southwest Quarter of Section 33, Township 28, Range 24
distant 115 feet Northerly of the Southwest comer thereof, as measured along said West line, to
a point on the South line of said .Northwest Quarter of the Southwest Quarter, distant 123 feet
Easterly of the Southwest comer thereof, as measured along said South line.
Subject to a 26 foot easement strip for driveway purposes over that part of the east 45 feet of
the above described tract lying northerly of a line drawn parallel with and distant 22.50 feet
northerly of the above described Line A for the benefit of the following described tract:
The South 74 feet of the North 222 feet of the West 182 feet of the South Quarter of the
Northwest Quarter of the Southwest Quarter of Section 33, Township 28, Range 24.
•
t•
W
2
W
Q ~
Z
W
a
6'
' ~xhib'
--- ----- t ---- ---
~ APT. i
7527 i ~
APT.
I~ 7530
'' 1
t 1 _
~~
APT,
7533
- - - - ---
i
~~
APT.
W
`o ~ 7539
z¢
Y 4
CI W
L~ = M
i
. _ APT.
7536
.. .. ~~
7544
~ - - ------ :j - ' ..
~:~
~ ~
~ ?S'
.~
~ ~
76TH STREET
EXISTING CONDITIONS
I
I'
>~
~,
i
_~
NORTH
scnt.E ~ ~ = so ~
i
E
Exhibit C
--~----
to o I
~ ~ 1
m 7527 PENN
~ 7530
OLIVER I
I i
W
Z
W
Q
Z
Z
a
I
7533 PENN
PROPERTY LINE
------
i
1
yM17539 PENN
~'~
I •
1 ~,
TREES ~
76TH STREET
;:
H -_T
--Q -- •~._~ ~.
~ 7544
- z-" '~' ~OLIVER ~
~ - Q-- -•-•1 li
a I ik
PROPERTY LINE _
- -- ---i
t
7536. I
OLIVER 1
------- ---i
W
Z
W
Q
W
O
After_ HRA apartment project at
76th and Oliver/Penn Ave
SITE PLAN
,,
. PLANNING
® ZONING NORTH
Cady Darelopn~nt O~pa~amnt SCALE 1' = 50'
.]
HRA RESOLUTION NO.
EXHIBIT D
RESOLUTION AUTHORIZING PURCHASE OF REAL PROPERTY LOCATED AT
7545 PENN AVENUE FOR THE APARTMENT REMODELING PROGRAM
WHEREAS, the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota (HRA) desires to purchase certain real property pursuant to and in
furtherance of the Apartment Remodeling Program said real property being described
as follows:
Address:
7545 Penn Avenue; and as further described on Exhibit D-1, attached.
WHEREAS, the HRA is authorized by Minnesota Statutes Section 469.012 to
acquire real property within its area of operation; and
WHEREAS, the property meets all program requirements for acquisition; and
WHEREAS, funds have been provided by the HRA and are available for
acquisition.
NOW, THEREFORE, BE IT RESOLVED by the Housing and Redevelopment
Authority in and for the City of Richfield, Minnesota.
1. The purchase price of 7545 Penn Avenue is approved at $25,196
2. The Chairperson and Acting Executive Director are authorized to execute
purchase agreements and other documents to effectuate the purchase for the
amount set forth in this resolution.
Adopted by the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota this 17th day of May, 1999.
Thomas E. Harms, Chair
ATTEST:
Michael Sandahl, Secretary
•
•
Exhibit D-1
LEGAL DESCRIPTION
FOR
7545 PENN AVENUE SOUTH
That part of the West 182 feet of the South '/< of the Northwest %a of the Southwest % of Section
33, Township 28, North Range 24 West of the Fourth Principal Meridian, lying South of the
North 222 feet thereof, according to the Government Survey thereof.
Reserving unto said Grantor a permanent easement for highway purposes over all that part of
the above described tract which lies westerly of a line drawn parallel with and distant 23 feet
easterly of the following described line:
Commencing at the Southwest corner of the Northwest Quarter of the Southwest
Quarter of Section 33, township 28, Range 24; thence run easterly along the south line
of said Northwest Quarter of the Southwest Quarter on an assumed bearing of North 89
degrees 30 minutes 54 seconds East for a distance of 18.75 feet to the actual point of
beginning of the line being described; thence North 2 degrees 30 minutes 37 seconds
West for 41.69 feet; thence deflect right along a tangential curve having a radius of
3819.72 feet, for 100.00 feet and said line there terminating.
Also, reserving-unto said Grantor a permanent easement for highway purposes over all that part
of the above described tract which lies southerly of a line drawn parallel with and distant 22.50
feet northerly of the following described Line A:
Commencing at the Southwest corner of the Northwest Quarter of the Southwest
Quarter of Section 33, Township 28, Range 24; thence run northerly along the west line
of said Northwest Quarter of the Southwest Quarter for a distance of 31.50 feet to the
actual point of beginning of the line being described; thence deflect right 89 degrees 43
minutes 31 seconds for 200.00 feet and said line there terminating.
Also, reserving unto said Grantor a permanent easement for highway purposes over all that part
of the above described tract which lies Southwesterly of a line drawn from a point on the West
line of the Northwest Quarter of the Southwest Quarter of Section 33, Township 28, Range 24
distant 115 feet Northerly of the Southwest corner thereof, as measured along said West line., to
a point on the South line of said Northwest Quarter of the Southwest Quarter, distant 123 feet
Easterly of the Southwest corner thereof, as measured along said South line.
Subject to a 26 foot easement strip for driveway purposes over that part of the east 45 feet of
the above described tract lying northerly of a line drawn parallel with and distant 22.50 feet
northerly of the above described Line A for the benefit of the following described tract:
The South 74 feet of the North .222 feet of the West 182 feet of the South Quarter of the
Northwest Quarter of the Southwest Quarter of Section 33, Township 28, Range 24.
•
HRA RESOLUTION NO.
EXHIBIT E
RESOLUTION AUTHORIZING THE SALE OF REAL PROPERTY LOCATED AT 7545
PENN AVENUE TO FLOYD SJOSTRAND
WHEREAS, the Housing and Redevelopment Authority in and for the. City of
Richfield, Minnesota (HRA) desires to sell certain real property pursuant to and in
furtherance of the Apartment Remodeling Program adopted by the HRA, said real
property being described as follows:
Address: 7545 Penn Avenue:
Leclal: Exhibit E-1, attached.
WHEREAS, the HRA is authorized to sell real property within its area of
operation after a public hearing; and
WHEREAS, the purchaser of the described property is Floyd Sjostrand, the
adjacent property owner, at a price of $1.00; and
WHEREAS, a public hearing has been held after proper public notice.
NOW, THEREFORE, BE IT RESOLVED by the Housing and Redevelopment
Authority in and for the City of Richfield, Minnesota.
1. A public hearing has been held and 7545 Penn Avenue is authorized to be
sold to Floyd Sjostrand in accordance with an Apartment Remodeling
Program Agreement.
2: The Chairperson and Acting Executive Director are authorized to execute
agreements necessary to complete the transaction.
Adopted by the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota this 17th day of May, 1999.
Thomas E. Harms, Chair
ATTEST:
Michael Sandahl, Secretary
•
Exhibit E-1
LEGAL DESCRIPTION
FOR
7545 PENN AVENUE SOUTH
That part of the West 182 feet of the South'/ of the Northwest'/4 of the Southwest'/< of Section
33, Township 28, North Range 24 West of the Fourth Principal Meridian, lying South of the
North 222 feet thereof, according to the Government Survey thereof.
Reserving unto said Grantor a permanent easement for highway purposes over all that part of
the above described tract which lies westerly of a line drawn parallel with and distant 23 feet
easterly of the following described line:
Commencing at the Southwest corner of the Northwest Quarter of the Southwest
Quarter of Section 33, township 28, Range 24; thence run easterly along the south line
of said Northwest Quarter of the Southwest Quarter on an assumed bearing of North 89
degrees 30 minutes 54 seconds East for a distance of 18.75 feet to the actual point of
beginning of the line being described; thence North 2 degrees 30 minutes 37 seconds
West for 41.69 feet;. thence deflect. right along a tangential curve having a radius of
3819.72 feet, for 100.00 feet and said line there terminating.
. Also, reserving unto said Grantor a permanent easement for highway purposes over all that part
of the above described tract which lies southerly of a line drawn parallel with and distant 22.50
feet northerly of the following described Line A:
Commencing at the Southwest corner of the Northwest Quarter of the Southwest
Quarter of Section 33, Township 28, Range 24; thence run northerly along the west line
of said Northwest Quarter of the Southwest Quarter for a distance of 31.50 feet to the
actual point of beginning of the line being described; thence deflect right 89 degrees 43
minutes 31 seconds for 200.00 feet and said line there terminating.
Also, reserving unto said Grantor a permanent easement for highway purposes over all that part
of the above described tract which lies Southwesterly of a line drawn from a point on the West
line of the Northwest Quarter of the Southwest Quarter of Section 33, Township 28, Range 24
distant 115 feet Northerly of the Southwest corner thereof, as measured along said West line, to
a point on the South line of said Northwest Quarter of the Southwest Quarter, distant 123 feet
Easterly of the Southwest corner thereof, as measured along said South line.
Subject to a 26 foot easement strip for driveway purposes over that part of the east 45 feet of
the above described tract lying northerly of a line drawn parallel with and distant 22.50 feet
northerly of the above described Line A for the benefit of the following described tract:
The South 74 feet of the North .222 feet of the West 182 feet of the South Quarter of the
Northwest Quarter of the Southwest Quarter of Section 33, Township 28, Range 24.
HOUSING AND REDEVELOPMENT AUTHORITY
HRA Letter No. 2s
Agenda May 17,1999
Issue Statement:
Public hearing and authorization to se116824 Park and 6805 Irving Avenues to
Windwood Homes Inc., and 7315 Thomas Avenue to Steven,Marlin Grant Homes, Inc.
Background:
The Housing and Redevelopment Authority (HRA) acquired 6824 Park, 6805 Irving and
7315 Thomas Avenues under the Richfield Rediscovered Program.
As part of the 66th Street widening at I-35W, three properties are being taken by the
Minnesota Department of Transportation (MnDOT). One of the properties is a duplex,
with both occupants sharing ownership. Both of these families have chosen to stay in
Richfield and would like to participate in the Richfield Rediscovered Program. The
families are using the same builder, Windwood Homes Inc. who builds approximately
80 homes a year in communities such as Rosemount, Lakeville, Prior Lake and Savage
It is proposed that the HRA sell 6824 Park and 6805 Irving Avenues to Windwood
Homes Inc. for development of a single family home on each site. Although
negotiations are in process, the buyers will not be able to decide upon a final home
design until they have settled with MnDOT. However, each home will have a minimum
of three bedrooms, a double car garage and a completed end value of at least
$140, 000.
It is proposed that the HRA sell 7315 Thomas Avenue to Steven Marlin Grant Homes,
Inc. for the development of a new single family home. The new home will have three
bedrooms, an attached double garage and an end value of approximately $169,000.
The project would be conducted in accordance with a development agreement.
Recommended Motion:
Following a public hearing, approve a motion, which adopts the resolution authorizing
the sale of 6824 Park Avenue and 6805 Irving Avenue to Windwood Homes Inc., and
7315 Thomas Avenue to Steven Marlin Grant Homes, Inc.
Basis of Recommendation:
1. Windwood Homes Inc. is building under the program for the first time. They have
built in the southern area of the Twin Cities for almost ten years. Steven Marlin
Grant Homes, Inc. has built several homes under the Richfield Rediscovered
Program. The company has evidenced experience, capability and financial security.
2. The HRA acquired 6824 Park, 6805 Irving and 7315 Thomas Avenues for the
Richfield Rediscovered Program.
•
3. The terms of the development agreements have been negotiated and are in
conformance with program guidelines.
4. Notice of public hearing on sale of the properties was published on May 5, 1999 in
the Sun-Current.
Alternative Recommendation:
Do not proceed with the development agreements with the recommended builders and
direct staff to find another buyer.
Discussion/Decision Mode:
Closing on the Thomas Avenue property would occur in late May with construction
starting soon afterwards. Closings on the other two properties would occur as soon as
the purchase of the buyers' properties by MnDOT is completed.
Respectfully sub fitted
r~
even L. evich
Acting Executive Director
SLD:cak
•
HRA RESOLUTION NO.
RESOLUTION AUTHORIZING THE SALE OF REAL PROPERTY
LOCATED AT 6824 PARK AND 6805 IRVING AVENUES TO WINDWOOD HOMES
INC. AND 7315 THOMAS AVENUE TO STEVEN MARLIN GRANT HOMES, INC.
WHEREAS, the Richfield Housing and Redevelopment Authority in and for the
City of Richfield, Minnesota (HRA) desires to develop certain real property pursuant to
and in furtherance of the Richfield Rediscovered Program adopted by the HRA, said
real property being described as follows:
Address Legal Description
6824 Park Avenue That part of Lot 1 lying south of the north 150
feet thereof and the north 1.3 feet of Lot 4,
Block 3, Portland Avenue Acres Addn.
6805 Irving Avenue Lot 9, Block 2, Tingdale Bros. Lincoln
Hills Second Addn.
7315 Thomas Avenue Lot 14, Block 4, Penn Lake Terrace First Addn.
WHEREAS, the HRA is authorized to sell real property within its area of
operation after a public hearing; and
WHEREAS, the purchaser of the described property has been identified and
development agreements negotiated as follows:
Performance
Address Sale Price Securi Builder
6824 Park Avenue $34,000 $34,000 Windwood Homes Inc.
6805 Irving Avenue $34,000 $34,000 Windwood Homes Inc.
7315 Thomas Avenue $38,500 $38,500 Steven Marlin Grant
Homes, Inc.
WHEREAS, a public hearing has been held after proper public notice.
NOW, THEREFORE, BE IT RESOLVED by the Housing and Redevelopment
Authority in and for the City of Richfield:
1. A public hearing has been held and 6824 Park Avenue and 6805 Irving
Avenues are authorized to be sold to Windwood Homes Inc. for $34,000
each, and 7315 Thomas Avenue is authorized to be sold for $38,500 to
Steven Marlin Grant Homes, Inc.
r~
2. The Chairperson and Acting Executive Director are authorized to execute
Contracts for Private Development and other agreements necessary to
complete the transactions.
Adopted by the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota this 17th day of May, 1999.
Thomas E. Harms, Chair
ATTEST:
Michael Sandahl, Secretary
r~
•
6824 Park Avenue
Concept Plan
• j:l
i~
~~i
I!
~~~
j `~
~i
~I
n~
~~j i'I
,~ I ''•~
~ ml ,,
:~
~~i
i,
i~
~:~
~; l~ ;
;~
~~ ~
~- --
I::
Ii
-~~~_
Main Level
--- ~
~s~ ~~:~ 1
L ~ C i £ . ~~~ ~.
~, ,~a
`~i
ice, t o
~~
~~
sl
~,
A.
z~
T~
Ac
OA
,S 1
Ir.~ ~~
I~~ v1
~~ ~~
m'
---j
O_
Z
Z
c
•
•
Upper Level
Right Elevation
6805 Irving Avenue
Concept .Plan
00
00
00
Front Elevation
Rear Elevation
eft Elevation
r~,
•
C~-EN
..~ ~.
Main Level
G/1RAGE
•
•
Lower Level
.J
•
•
715 THOMAS AVENUE
CONCEPT PLAN
•
~ .~ .:
;;.
x ,~
,. ~~.r r , ;:_
~.~
~~
[~Q~OC~
•
fK~~~~C;i~l~l
~Q(~~° ~~
MAIN LEVEL
UPPER LEVEL
w
~ GEC Q I~ G'~il.
®OG~Of~C~ f~~il.
7o s
. ~°(~L~r~i~li. 1„
rug ~9/®~ U9/~
~ Q~
~b~ ~ J
~ _
®~~~
s (~®G~ MM.
HOUSING AND REDEVELOPMENT AUTHORITY
HRA Letter No. 27
Agenda May 17, 1999
Issue Statement:
Consideration of approval of key provisions of a proposed master development
agreement between the City of Richfield, the Richfield Housing and Redevelopment
Authority and Ryan Companies US, Inc.
Background:
The Metropolitan Airports Commission (MAC) has initiated construction of the new
North-South Runway, to be completed in 2003. Completion of the runway will result in
substantial increases in low frequency noise in the area west of Trunk Highway 77. The
mitigation plan approved by the City Council in June 1998 envisions the removal of
homes, apartments and older commercial buildings, replacing them with land uses and
buildings more suitable for a location so close to the new runway. This is a general plan
and lacks the specificity needed to proceed with :redevelopment when funding becomes
available.
At the October 19, 1998 Housing and. Redevelopment Authority (HRA) meeting, there
was a discussion about Ryan Companies US, Inc.'s (Ryan) interest in the mitigative
area. Ryan Companies has expressed an interest in preparing the detailed plans. They
are also interested in facilitating and coordinating the redevelopment as well as being a
redeveloper.
A relationship with Ryan would be regulated. by an agreement.. The proposed key
provisions of such an agreement are contained in the attached document, as
recommended by staff, legal counsel and the HRA Chair. Representatives of Ryan have
also agreed to these provisions. Mr. John Dean, legal counsel to the HRA, will be
present at the May 17 meeting to discuss the key provisions, which are briefly
highlighted below.
Ryan Serves as Project Coordinator
• Funding
• Preliminary plans
• Neighborhood communication/development planning
City/HRA Activities
• Provisions for governmental action
• Determination of financial assistance to be provided
• Establishment of project area and TIF district
Note among other things that this section identifies the type of decision, which would
need to be made by the City Council and HRA. It does not diminish the discretion with
which they may act.
Public Financial Assistance
The principles for guiding the structure of the public assistance will be formulated.
Phased Development
Within the project area,. development will be phased over several years.
Development Agreements
It is anticipated that each phase will have a separate agreement.
Development Opportunities
• Section a. lists criteria to be met by development proposals. Item (8) also states that
a formula will be established for reimbursing Ryan for a portion of their costs
attributable to the area proposed and for redevelopment associated with performing
the responsibilities of Coordinating Developer.
• Section b. discusses a process to be followed by Ryan when they would like to
initiate redevelopment in a particular area.
• Section c. outlines a process to be followed, which. is driven by the City/HRA. It
provides that if Ryan and the City/HRA cannot agree on terms of a development
agreement for the particular area the City/HRA wish to have developed they are free
to consider proposals for that area from other developers. If another developer is
selected, Ryan is entitled to be reimbursed for a prorated portion of their expenses
associated with the Coordinating Developer role.
• Section d. provides that a third party developer may approach the City/HRA about
redeveloping an area. Ryan must be notified immediately and is then entitled to
submit a proposal for the same area. Should Ryan submit a proposal the City/HRA
must consider both proposals at the same time. In this situation, should the third
party developer proposal be accepted, Ryan must be reimbursed for a prorated
portion of their expenses associated with the Coordinating Developer role.
• Section e. restricts the City/HRA from providing condemnation and financial
assistance. until certain conditions are met.
• Section f. relates to ownership of plans and drawings.
Recommended Motion:
It is recommended that the HRA approve these key provisions and direct staff to
negotiate the final terms of a master development agreement with Ryan Companies US,
Inc. for subsequent presentation to the HRA.
Basis of Recommendation:
1. The size and complexity of the area strongly suggest the need for a coordinating
developer.
2. The key provisions protect the interests of the community and at the same time
.provide incentives for acoordinating-developer.
Alternative Recommendation:
1. Refuse to approve the key provisions.
2. Modify the provisions.
3. Delay consideration of the provisions.
Discussion/Decision Mode:
Approval by the HRA would make it possible for negotiations with Ryan to advance.
When they are concluded staff will report back to the HRA.
R pe tfully submitt
- ~•
ev . Devich
Acting Executive Director
SLD:cak
.C~ V V L
• SUMMARY' OF KEY PROVISIONS OF PROPOSED 1VIASTER DEVELOPMENT
AGREEMENT
BETWEEN .
CITY OF RICHFIELD, RICIIFIELD HRA AND RYAN COMPANIES
1. ~
The designation of Ryan Companies iJS, inc. as the Coordinating Developer for the
r~levelopment of the Froject Area, setting forth the scope of services to be provided by
Ryan and the procedures to be followed by the City1HRA in the redevelopment of the
Project Area.
Z. g]~9~~
The area generally located between Crosstown Highway 62 an the 1Varth, Highway 494
on the Svuth, Cedar Avenue on the East, and Bloomington Avenue on the West (the
"Project Area"J.
3.
a, ~j~j~,~Qy~. Assist the City/HRA in obtaining federal, state, and local
funding of sufficient scope to support the redevelopment of the Project Area. The
types of funding will vary, but will include special state legislation; federal, state,
and local grant monies; state and local gavenunent funding allocations; and low
interest loans. Services relating to obtaining Project Area funding will include the
following:
• Research all possible funding alternatives that may be available and
appropriate for the proposed redevelopment project.
• In conjunction with the City/HIiA, identify those funding sources or
programs that may be most likely to support the redevelopment project.
• In conjunction with the City/HRA, develop a strategy for securing the
necessary funding sources-
. Take necessary steps to secure redevelopment funding. Again, this znay
vary but will likely include introducing and supporting special legislation
for redevelopment financing, writing and submitting grant applications to
federal, state, and local agencies, etc.
Prepare cost estimates for the redevelopment of the Project Area. lViajor
cost categories may include land acquisition and consolidation,
•
VJ! 1G/ PP fiLY iV V•l i"[i/i ViG V4f 1 V 1 ( iawYa~iaavvi. N Y1a~va. a ..i. L- vvv
• environmental remediation, building demolition, and the cost of new
construction.
b 1 tyg. prepare preliminary plans for consideration by the Cityll~RA
relating to land use and infrastructure for the Project Area in order to assist the
City/HRA with regard to obtaining funding, understanding land use alternatives,
phasing of redevelopment, allocation of financial resources over the Project Area
and assisting the low frequency study group's evaluation of the extent of
potential noise mitigation resulting from the redevelopment of the Project Area.
~ ~~1,3,.,rhnnri f nmm~mics~tinn evelopment Planning. Solicit neighborhood
input; inform ibe neighborhood on certain aspects of the redevelopment process;
and develop a detailed land use, uxban design, and infrastructure plan for the
Project Area.
Neighborhood communication will include the fallowing steps:
The assessment stage is used to solicit resident input for determining how
best to resolve likely disputes associated with the redevelopment project.
From this assessment, the Mediation Center ve~ill make a recommendation
on the most appropriate process for working with the neighborhood.
• • The implementation stage is based on information gathered during the
assessment stage. Techniques typically used by the Mediation Center
include neighborhood informational meetings, surveys, and focus groups.
Following the assessment and implementation stages, a detailed land use, design
standards, landscape architecture, and open space plan will be prepared. This will
be accomplished in conjunction, with City staff and policy-makers, and consistent
with the City's Mitigation Plan for the New North South Runway (17135}, dated
June 15,1998. This work will accomplish the following goals:
Reduce the North-South Runway noise and visual impact on the remaining
neighborhoods in east Richfield.
Develop a comprehensive park and open space system far east Richfield
residents .that connects with existing Richfield, Bloomington, and
Minneapolis park and open space systems.
• rievelop a comprehensive land use and redevelopment plan for east
Richfield that ensures future development activities.
2
VJ/ 1L! LIa n)r'.y 1J. VY 117A V1G t7Y1 1 V ( ! rl\GY1~lAav1~ R Dli~vl~ r .ll.
• Ensure that future development is consistent with the International Airport
and generates the highest possible tax base and head of household
employment opportunities for the City of Richfield.
d, t~nle entatio~~• Implementation of a redevelopment financing program,
property acquisition, demolition and relocation, and the development of private
space, and public improvements, park and open space based on funding sources
and neighborhood input.
e. .Ryan shall provide the City/FiRA with development advice
and information with regard to market conditions, type and mix of improvements,
feasibility and other development information relating to the redevelopment of the
Project Area in order to assist the City/HRA in determining the actions to be taken
by them with regard to the redevelopment of the Project Area.
4. '
a. Take necessary and appropriate governmental action with regard to the
redevelopment of the Project Area, including, but not limited to actions pertaining
to, amending the comprehensive plan and zoning, obtaining appropriate financial
assistance from federal, state and local authorities for the redevelopment of the
Project Area, including contributions from the MAC, authorize the use of eminent
domain, provide financial assistance and enter into development agreements for
phase developments within the Project Area.
b_ Determine whether, and to what extent financial and/or site assembly assistance
will be necessary to induce redevelopment within the Project Area
c Exercise reasonable efforts to establish in accordance with all applicable statutory
requirements a Project Area and a Tax Increment District for the Project Area and
adopt a Tax Increment Financing Plan for the TIF District. HRA. may allocate
available ta~c increment to assist particular developments within the Project Area
in a manner which it deems appropriate to promote the fullest development of the
entire Project Area.
Ryan acknowledges that many of the actions of the HRA/City described in this section, and
throughout the agreement call for the HRA~/City to act in their reasonable discretion and in many
instances to exercise their legislative judgment. Such actions may only be made following
established procedures; and the HRAJCity may not, by agreement, agree in advance to any
specific decision in such matters.
•
~'J 4VY
3
~, ,,..,,
~ ~
With regard to the structure of the public assistance to be provided to the Project Area,
the parties will set forth the guiding principles for such financial assistance.
6, 1 n
• It is anticipated that the Project Area will be redeveloped in non-contiguous
phases over a number of years.
The redevelopment of the Project Area will be subject to such priorities as the
GitylHRA in their reasonable judgment deem consistent with the then current
market conditions for the various types of improvements within the Project Area.
7.
In light of the phased development of the Project Area, separate development agreements
will be required for each phase of development of the Project Area. The terms and
conditions of the development agreements are subject to the mutual agreement of the
developers and the CityCfiRA.
8. u a
a. All proposals for development within the Project Area must conform to the
following criteria:
(I) It shall designate the area of the development and which properties, if any,
would need to be acquired in order to accomplish the development.
(Z} It shall comply with the development standards and plans for the area
covered by the proposal and must be consistent with the comprehensive
plan for the area, or if not, indicate how the plan would need to be
modified.
(3) It shall be consistent with any recognized plan for mitigation of
environmental impacts arising from development of the new North-South
Runway at the Minneapolis - St. Paul 1Vletropolitan Airport.
(4) It shall describe in sufficient detail the amount, purpose and need for any
financial assistance to be requested from the HRA.
(5) It shall include concept plans which contain sufficient detail to allow far a
clear understanding of the proposal.
•
4
VV/ 1GI PP 1iLY 1V. VV i'lila VJ.i VYi i V I i 1aaYYlaaaaN Va. N Liaava. a .ai.
(6} If the proposal is for less than the entire Project Area, the proposal will
address the interface with the balance of the Project Area.
{7) It shall not be for speculative developz~nent. The developer will be
required to commit to proceeding with development, even though it is in
phases, within a relatively short period of tune (i.e. 6 months of executing
the Development Agreement) with sufficient evidence of the viability of
the proposed development, including leasing, equity, financing and market
analysis.
(&} It shall include a payment to the City equal to the (i} portion of the
contribution by Ryan and by the City to the overall development of the
Project ,Area allocated to the area proposed to be developed and (ii) staff
time to analyze the development proposal. Ryan and the FiRAJCity are to
agree on the categories, allocations, and any limits to be placed on such
amounts.
{9) Any additional or further information which the City1FIRA in its
reasonable discretion determines useful in fully evaluating the proposal.
b. Ryan Proposal-
« Ryan shall have the first opportunity to enter into a development agreement
"for that portion of the Project Area proposed to be developed by Ryan.
• Negotiate mutually agreeable terms of the development agreement for the
proposal.
• If Ryan and the HR.A/City are unable to conclude the terms of a development
agreement, the portion will remain subject to future development proposals as
outlined in subparagraphs a, b, c and d of this Secrion_
c. City/HRA Proposal
CityiHRA shall provide Ryan with the first opportunity tv enter into a
development agreement for that portion of the Project Area the CityrHRA
determines should be opened for redevelopment,
If the parties are unable to agree on the terms and conditions for the
development agreement, then the CityIHRA shall be &ee to consider proposals
from others to develop the portion subject to the following:
• Any such proposal must conform to the criteria contained in Section
8(a} of this agreement unless the I~t,A/City determines in the exercise
'C:J v v v
•
v..= ~.., .... ,,.+.. ~... vv •.ae. vas vv r . u r r ravc,aravanaviv a Dia~trly r . n.
of their reasonable discretion some or all should be waived; provided,
however, no waiver shall relieve the HRAJCity from making the
reimbursement to Ryan described in Section 8(a}{$).
• The proposals shall be subject to the requirements set forth in
subparagraph "d."
d. Third Party Developer Proposal
• Fn the event the HRA/City is approached by a third party seeking to develop a
portion of the Project Area which is not subject to an existing development,
the 1:iRP-/City will immediately notify Ryan of the general nature of the type
of development and the location of the development.
Ryan shall then be entitled to submit its flwn proposal for development of that
portion to be considered at the same time the third party proposal is being
considered.
• Unless waived by the I~RAlCity, the criteria contained in Section 8(a} shall be
applicable; and no waiver shall relieve the ~IR.A/City from making the
reimbursement to Ryan described in Section 8(a}(8} in the event a third party
is selected.
e. Restrictions on Development within the Project Area.
Prior to the adoption of the comprehensive plan for the Project Area, and
identification of all funding sources, including the settlement with the MAC
and the allocation of those funding sources throughout the Project Area, the
Cityl~iRA will not provide any condemnation assistance for the acquisition of
properties or financial assistance for the development of properties within the
Project Area.
f. Ownership of Plans and Drawings. Any material created by Ryan for which
reimbursement is made in accordance with Section 8(a}{8) above shall be the
exclusive property of the CityIHRA and may be used by them for any purpose.
The HRA/City will indemnify, release and agree to defend Ryan from any claim
made relating to the subsequent use of such material.
9. Tgtlm•
The agreement will no longer be of fozce or effect as to those portions of the Project Area
which are covered by redevelopment contracts_
WJUVt
• a
HOUSING AND REDEVELOPMENT AUTHORITY
HRA Letter No. 26
Agenda May 17, 1999
Issue Statement:
Presentation of annual status report on tax increment districts.
Background:
Each year, financial consultant Sid Inman of Ehlers & Associates, Inc. prepares
the attached report entitled Richfield HRA Tax Increment District Status Update.
This document is compiled annually by staff and Mr. Inman and reports the
condition of the City's tax increment financing (TIF) districts. TIF districts which
were recently approved (such as Gramercy and Urban Village) are not included
as these districts are not yet producing increment. The current report is dated
May 1999.
The introduction to the report provides a brief summary on the overall status of
the TIF projects. Following this, a review of all increment-producing TIF districts
and their respective financial cashflows is given. Throughout the report, the
following assumptions apply:
• Values stated reflect conservative estimates;
• Inflationary market value increases are not included;
• Interest earnings are not included;
• Reductions in tax class rates for commercial/industrial property for taxes
payable 2000 and beyond are reduced by 7% to reflect potential legislative
• changes;
• Local tax rate is reduced to reflect school district referendum levies
conversion beginning in the year 2001; and
• Fiscal disparities are projected out based on tax increment districts
terminating and new, approved districts beginning.
All districts remain healthy and have sufficient reserves to pay outstanding
obligations on outstanding bonds and tax increment note payables. Please note
the highlights of the summary information:
• The LHN District will no longer have a reserve balance after the year
2001. All funds are pledged to service the debt on the outstanding bonds and to
Richfield State Agency for the outstanding amount due under the tax increment
notes payable for the Wood Lake Medical Clinic project.
• The ILN District will continue to maintain a reserve balance. The
remaining tax exempt bonds proceeds from the 1988 issue are pledged to
undertake public improvements within the overall redevelopment project area. A
portion of these proceeds have been used for the design work related to the I-
35W/66th Street bridge. The most significant measure of success in the ILN
district is the rise in market value from the Shops at Lyndale and Meridian
Crossings projects which restored the deteriorated base market value for the
district in the early 1990's.
• The Interchange District anticipates a reserve balance based on increment
received prior to the time payments due under the tax increment note payable to
• The Limited, Inc. for the Galyan's project.
• The increment received from all of the Richfield Rediscovered Districts
• continue to pay off the seed money to the City which the HRA borrowed to
implement the original program.
The latter part of the report contains the financial cashflows. The last page in this
series is a composite cashflow of the year end balances for all of the previous
cashflows, and therefore, all of the current increment-producing districts. Under
this report, the ending balance for 1999 is approximately $2.93 million. When the
ILN is decertified in the year 2011, the balance will be approximately $2.37
million. Other funds, represented by the last four columns of this cashflow,
however, will also be available and amount to approximately $197,000 annually.
This small amount reflects the funds available to the HRA from Phase I of the
land sale related to Meridian Crossings and increment produced by the
Candlewood Motel project. The aggregate total of all reserve fund balance
approximate $2.95 million in the year 2011. The use of all reserve fund balances
are restricted by TIF law related to spending and pooling rules as well as tax
increment plan budgets. These cashflows, again, take into account only existing
districts producing increment and do not reflect any potential increment or
payments related to recently approved, new TIF districts.
As part of the regular budget cycle, staff will propose uses for the fund balances
consistent with state law.
Sid Inman of Ehlers & Associates, Inc. will be present at the meeting to review
this report and respond to any questions or concerns that you may have.
Recommended Motion:
Discuss and accept the 1999 Richfield HRA Tax Increment District Status
Update, dated May 1999, prepared by Ehlers & Associates, Inc.
Basis of Recommendation:
The HRA requested annual reporting on tax increment districts and projects.
Alternative Recommendation:
Delay presentation of the report.
Discussion/Decision Mode:
The annual report allows the HRA to review the status of the increment produced
and obligations made to various redevelopment projects.
:.tfully sub ~ ed,
~~
~/ i
L. a ich
Executive Direc r
SLD:cak
•
•
Q
W
x
U
w
F
A
a
d
F
C-~
A
E~
Z
W
W
U
z
o,
v~
¢' a
.~ 3
~¢
~ a
~~
~.
W~
~a
~~
~z
a
`V
~ ° 0
i~l ~
~ ~ ~
`y
~
.~
G~ O •
.
~
U
+-+
L ~J
~~~ ~za~~ ~~
~ 3~ ~ o
~ a~ ~~ c .~
o ~~
~ ...~
~
~
s.. N O ..~ ~ 'C p +
'
Q W cd ~+ "d • ~ N ~ O ~ .D o N
x •
x
~,~,
or o ~
~~,~
x ~o~,
s
N U v~ ~
' p~o~~
U~~ O~
'C3 U ~ .-,
~ ~ U
ti v
1
p ~ ..,+ ~
U ~
p
O~
N ' U .~ ~
cC
TS
a~
~ };
y
j U
~
•Q bg ~ ~ y ~ y ~ U ~
~ ~ ~ N ~ ~ ~~ ~ _~ ~ ~ ~
~~ V N ...~ N :-~ ~ y~
O O
~ •
a N p
~~ ;
~ ~
~ ,.,,
~Q
~
~ ~ c~
y.~
~
3
; .
,
~ ~~~
~ b
~~~ o~ ~
~
3
~
Q ~ ~ ~ ~ ~ ~ o ~ ~
o .o c ..,
`~ ~~~ ~~ ~°~~ ~~ ~~U
,y
Fil
W U
~ N
~
fl ~,,, v~ ..C
~ ~
"~ v ~ ,~
~ F" o
~
~ .~ .. ~
b ~
~~ ~
~~
N ~~~
~. a~ ~
a~ ~~
~'
r~. v ,,
~ ~
...+ w v •~ ~
•~
W ~ ~~ ~ o W ~ o~
aU o ~
~ ~ rn a; ~ ,~ H ,~ ~ ~ ~ ~ ~; ~-' on
~ C
W ~ ~ ~ ~
V ~ ~ ~ ~ ~ w ~ o ~ ,
o o° ~' ~ ~
~ C
> w ~ a ~ C ~ ~ ~ y ~ ~ ~ b ~:
~ .
ai ~ ~~ ~' ~ ~ ~. ~ ~ x ~ ~. a~
A ~
° a ~
° ~ 3 vw ~x c C ~
~
~ o
~ a
i a
i
•
a ~ oo W ~ v E-+ ~ (~ i ~ ~ ~ ~ •o ~ ~ Mo x
U
~-+ N M ~ ~i
•
Q
r./
~I
F
MGM
A
I~
01
O~
.~
.~
b
w
U
cei
.~
r.,
N
0
~3
U
rA~
xi
a
~_
N
O
O
N
.~
U
.~
^o
a~
~_
w
0
a
.~
.~
N
.C
L
.~
T~
V ,
O
w
rn
_~
w
0
'C3
O
N
~_
O
c~
~.
.~
a~
b
N
~.
0
N
>,
N
C Q
oa
~x
~~
.~ ~
~~
~~
a~~
~,
.., ..,
~~
+~ ~ O
~ ~ C
~ e~ G
C Cr ~'
~ ~ O
u •~ C
a~ ~,
+~~+ vii .C
~ ~
o ~ ~
ems, -O •~
~ ~
~:: ~
~ ~ ~
~ ~ ~
~ O ~
•~ N V
.w ~ C
w ~~
>~ c
GC
•u ~ >,
~ O
~3 ~ ~
,~.~ 4r G~
O
~+ i,
,~ 4 ~
A~ ~
z~~
xw~
~~~
~~~
o ~ .,
o .., ~,
N rp y
~ C ~
~ O G~
~~ ~
~' ~ ~
~~
~~
~~
+~ ~ ~
L ~ =
C/~ Zt • ~
N
N
a
c~
b
a
U
.~
Q
U
C
r-J-~
`V
b
U
....,
C~
~
o w
c ~
pA '~ Ca ~
~ • ~ ~ CC
~
.~ '~
O ~
6" ~ u
~
~ N'
~ ~ y .
~ C
..~
CC +,
o U ~ 3 ~ ~
~
Q ~ ~ ~
~ ...
~ ~/ _v]
¢ O ~
x ~ Q ~~
~~ ~ x a ~~
o ,~
o ~.~
~~
o w .~ ~ ~ H
~ ~ ~ ~ ~~
.
~ ~
~ ~ ~
>
~ g
W ~ °
¢
N
O _
'~ ,
y ~ i iii
~~
o ~ ~
~ N ~ ~
F" O O v
a ~ •
c~ ~ ;
' s:
• V ~ ~
o ,c o
a a~
~ q b
a ~ A
,~
°
a~ -~ •~ ~ F ~ o
~ ~ . ~,~~
A ~_ ~ z ~ orb
°' a
z ~ ~ o ~ ~~~
a; ° ~ ~ p" G1 0
~
~.~ °' ~ a ~ c~U
N ~ y ~
~ ~ b
A "
v p '
o
o -° ~ ~ a ~ o
.
s , ~
v
~ >
~ ¢.
~ ~
~ ~,.
, ~
~ ~
~ ~ ~
o ~ o ~ a LUG ~
a. -o '... x
~ Q °' .-' cxe
~
y ~ U
~}~ ''
'
~ a
~ .+ V r.+
r
Tr
~
~
a, ~
yy . ~
`
•
~~
~_ •~y ~ ~ ~ ~1
~1~1 ~j
V
L
Q ~
~
y 3., ~ ~ s.. Lr
CC
F. ~
O
~
4 ~
O ^
W ~ ~ ~yy1
`V
E
-~ ~ G a o 0..s E
-~ N M ~' ~
M
bA
«3
a~
b
c~
U
.~
Q
C
U
C
w~
W
w
U
•
r~
w
F+
Q
a
F
V
E~
A
U
U
.~
.~
...,
'C
~_
.~
O
w
'C
N
.'.,
v
N
~.
..,
3
c
c~
~,
v
.~
0
0
z
.~
.~
b
Q..
O
N
b
U
.~
O
O
U
G
c1
U
d-
a~
bA
cd
a
b
U
..-i
~..+
..r
Q
r..~
N
N
s...
U
C~
~~~//
W
x
b
U
...~
•
W
F
d
A
a
N
v
a
h
A
a
~,
U
c~3
O
U
c~
O
'C
N
....
c~
C
.~
s..
N
c~
3
U
.~
~_
Q
C/~
Q
a
H
c~
a
CC
"~
r~~
`--+
~..~
U
...~
~..~
v~
...~
Q
a.-+
C
U
ICI
C~
x
b
a~
U
•
•
rJ
w
A
F
U
E~
A
Q
w
w
C/1
-••~
Q
A
W
U
v~
~+
~ a~
bA
?~ ~ ~
o
~, N
~ ~
~ '~
.~
:o .~
~ -
~ ~,
o ~
x~
.~ ..,
~~
~~
U ~
~ o
~ ~
~
~
~b
o ~~
w~
~ ~.
~,
.~
>~
o :,
~
~
3
~ o
~ ~
a~
~~
H
o ~ ~
~o ~
~~
~
~ ~
~~ ~
~~
~~
o
.~
Q
N ~
~ ~ ~
~~ ~
~, ~
o .~
~, U
z"' ~
~,
~ '
'' vi
'O ~--~
. ~ ~
cG ~ ~ [-~
~~ ~ ~ x
~ ~ ~+.
"t7 ~ O
^b
~ O
w ss. ~ 4.,
U
•
•
•
W
E~
Q
a
h
MCI
MCI
A
W
~.~
rW~I
~ l
n/
W
~I
ri
G~
a~
bA
ct3
a
~..
.
~
0
.~ -
~.
~,
C7
0
.r
a~
wo
a~
o.
a~
~,
U
C
..
.r
N
F"
~ ~
~ ~
'
~
N ~
:-, ~
~
w ~
~ a..+
~
~,
. ~..~
.
~ U
.
N
~ ~
~
b~q ~
Q
~ '"~
C
N
U ~
~ ~
~
O ~ U
~
ci. o '
~ ~ ~
0
~ ~
~
a• ~
x
~
,~ b
.~ ~
H 3 e
~,
U
^" ~;
•
•
~ 7 N N 0 0 0 O O O O O O O O
C
C ~ N M M et
W R c 0 (NO ~
C m ~ N r r
rn Z
D
c 0 0 0 0 0 0 0 0 0 0 0 0 0
y N O
d OE O
~ U
C C
O O Ch 0 0 0 0 0 0 0 0 0 0 0 0
C
D
v
N
V d O
D M
V
C
W N
~
C O C
O V
_
U
.`..m O -
N r.-
y Z
D
N O O O O O O O O O O .-.
N
M
C6 i
O
X~ ~ } ~ 00 a
W
~ 7
N ~
mO
~ .
-' ~ O
Z c c ~ N
W
N O~ N N 0 0 0 0 0 0 0 O O O N
C y
.- o n .- v M
ik m N CO
~,,, ~ p>
C T M N ~ ~A
N M O)
c
o
V'
p
v
•L .N ~ T p
v
v O
in•'xd
O W
T v 0 0 0 0 0 0 0 0 0 0 0 0 0 0
3 O .y. Ch
U ~ E ~ ~ ~
~ .-
~
N
.
~ W d
U ~
~ CD ~ O~ O O O O O O O O O N
o
~
W m
. r.-c~
a
~ ~
7 ~ O)
~ C T N
M
~
O
N C~
~
a ~ Cv
C
vO
d y ca ~ a;
V war .,
H C N M~ p 0 0 0 0 0 0 O O O O
m C ~ ~ ~ ~ O
~ cE °
' ch
rn
~` r rnM M
n
~~~~ ~
w N a
X M
W W
V 0 0 0 0 0 0 0 0 0 O O O ~
Z 'O
d U M n Ch
N
~ U IO ~ CV CO
CO O)
M
`~ a
~
l
Z
J
0 0 0 0 0 0 0 0 0 0 0 0 0 0
y
In y p p 00
~ N .~ COO tO0 O
N
U Q Q M
C
O N^ 0 0 0 0 0 0 0 0 0 0 0
'~ u O
c
E
d
c_
X
R
O m
~~ ~
m E
~ o
o -
U
N
d
d ~
7 tD
a ~
aci
N
m
rn
c .o
t`4 ~
o a
w
U
y U
a ~Z
O m
w 01
a
m
E
o
N N ^~ N ~ n M
C O
~ ~~
~
rni
~n ~
E ~ .
of ~ •- v
v rn
_~
" or~cooooo000000 0 ~
c
c ~
~ Hoorn rn °_°
E u~i cOO °n' v `n a °
~
y d
~ U M V V~ O o N
n C II a
(~ ~ N N ~ ~ M ~ a ~ m
j U d ~ f6
I-C7 00000000000
~ C A~'y~QH
~ n N Z w ~ 4. m
i X U M~ ~ - m c`o c c
~ f" ~ ~ r~ I ~ ti ~ 9 Q m
~ U VI ~~~~°¢~°
j ~ ~ I mc o oa ~
¢U~ZHU.
Z O O N Ch V l() CO h CO O>
O
~ ~ N m 7 to
~
I _
_
Q m 0 0 0 0 0 0 0 0 0 0
i ~
r J O7 0 0 0 0 0 0 0 0 0 0 0 0
~ N N N N N N N N N N N N
i l m
W
C7
a
c
ri
U
a'
a
z
w
d
d
a`
Y
of
0
a
•
•
•
O) rn rn n fn t0 O a N 0 fD ~ O to N
C N n C'7 0 ao O) CD rn N rn n a
'O m yfn fn ODO C9oO NNOrt NCO
C U V~ N f7 fD CD fD V O M n a0 T CO fD
W ~ :~ M N (O tf) M O d' U1 rt m 7 m et T
~ cco,-fnl~nt~t~ncoc~fnfn~v_
•y m Z r r r r r r r r r r r r r N
N
aNi E
~ U
C C
O O O O O O O O O O O O O
O O O n In tD T et N O ao V m fn N N
C N n @7 O M O O m N m n T T
'O m m to to OD CO C7 M O N N O~ V CD
C U ~ N f7 M tD f0 V O C7 n o m CO o 0
W A N C7 N M fn W (O ~ O~ O~ O C N N
~ c co r fn n r` n l~ l~ co co fn ~ v_ v" r r
.~-. m 0 r r r r r r r r r r r r r N N
~ Z
O M m O n n I~ N N N fn fn ui n co
f6 fi) ~ In O) c0 N N ~ O n N N y~ O)
~ ~ } O N W fD ~ h 01 O O to N 01 a0 e{ to
M r N m O fV V to CO W m N~ O Ch
H E o N N r N N vv vv ~~fn fA m
~ N Q ~ ~ N `-' ~ O ~
Z ~ v
C C
W
~ •O O O O ef• CO CO C7 CO c0 OD 00 O O O O n
Ifs C T O O> N N n N C^7 0 In fn n
N O y M tnn OOO_t[)MOIO co
~ m N O n O 7 n m 0 Ch 7 n O) n
rn rn vvvvvfni:nnnn fn
V C ~ ~ ~~~ M ~ ~~~M ~ ~ (^
`~ a
N X
W
A O O O O O O O O O O O O O O O
M
C -
N
.~ Q L
»~a
z
~ "inoornrnrnrnrnrnrnrnrnvfp
vfn oomfXJOOmOOfAafn
V - O 7 N N M 00 CO M M W fp W 00 O n
7 ~ N CO N M C7 t17 to to N fn ~ fA LL7 In r CO
L ~ d N
_.
C 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
F- 7 W fD fD fD M W f:0 M W M f7D M 7~
c0 c0 c0 CD (O CD fD CO CO CO CO fp CO oD M
~ ~~ W M M O O) W m Oi Oi Oi Oi Oi Oi m O fn
~ ~ Q ~ ~~~~~~~~~~^ ~~M O
sF.JQ
u a
z
u
C co c%>r~nrnrnrnrnrnrnrnrnrnoco
rn co n n m
- m m u~ fn ao m ao ao ao ao m oo m v co
~ W n U N N 0 0 0 0 0 O O O O O N
( ~ ~ ~~~~rN.-N ~.N-.~ N ~~ N r O>
-Ua ~i
m ~ o o co co co co cp co co co co oD rn
~/ ~ V tl7 In to In In to In ll'1 LL') N n
- Mnc0ov V et ~vvvet7NO
~ N 7 M _M _M N N N N N N N N N "~
~L n V MMfAMMMMMMVCh
V fh C7 M v N ~ N v v .N~ \N.. N r O
U a v
C I~ ~ O O M M C7 C7 Ch M M C7 C7 C7 O
4 fT ~ n n n n n n n n n n n n
•~ o n f~ O) O CO O f0 CO (O CO O O CO CO N
n O N CV QI ~~ O O~~~~ O n
!A N lC) ~ T M r r M
~ r
Q
N M O O N N N N N N N N N N N
~ M O O ~Y 7 ~ V C' V' ~h 7 ~ ~ c0
C ~ n N N to fn in t(7 ~ fCl f17 fn fn ~ r
F- °' rn I~ n ~ r~ n l~ r~ r~ n ~ ~ n "
E cocornrnc_ocomcpcococococomv
i0 ~ r r r r r~ r r r ~ ~- r r T N
C r rl
HM fn fn fn fn fn u7 fn fn Uhf!]
Q T (O (O f0 f70 M fD fb M M W M O fX7
n I~ r ao m W aD co m ao oD ap w
~ ~ m W N ~ v c frMi frmi ~ uMi fOn ~ fmn fmn ~ ~
W O O 01 M (b W M M M M M M O M
IV ~ U ~ r
IW
~U
~ iZ O O N M V f0 M n o O O r N_
~ a rn o 0 0 0 0 0 0 0 0 0
i fvIJ O) 0000000000000
~~ m r N N N N N N N N N N N N N
I
U
0
Z
J
`o
C
O
•C C
w
~ E
~ U
C
~ X
o ~°•
o m
N OL-.
d O E
N O
~ C .-.
a`~i
~ u N
E oo In
v
C N ~
d
d
d
~ o
v
.~ W ~
a fa 'o
o d F
U U
C (U
N .N U
;o y .2
O N N
O
H f1 d
N_ D
O O
~' ~ E
c N o
LL w
r`°i ~' o
fro t00 O O
C7 fy tI)
~ ~ U
~ ~
~ ~
p O O
a o ~
o N ~ O
r C I I I j
~ •p ~ ~ fD
j U m ^ ~ R
7'
ti~~ ~'aN
y°:v m
~ U
f`6 ~ C G W C
N fYxO ~ ~ Q m
U V r U X C
O h
UJZ LL Fa-li
.- N f7. st tf) ~
N
W
Q
a
c
O
V
a
a'
L
W
a
d
`m
a
3
0
a
•
O N N N N N N N N N N N N N N N N N N N N
C In ll] ll•1 t[1 ~ In tD lD In lD In C17 In ~ l!•1 In In I.n In Cn
C U ~ CA O 0 O 00 OD (D CD (A (D W fD W O O fD OD (D (D O
0 (A lA 0 0 0 0 0 CA 0 0 0 0 0 0) O) (A 0 0 0
W~ 4; 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
C r r r r r r r r r r r r r r r r r r r r
.y m Z
c O O O O O O O O O O O O O O O O O O O
N m 0
~ p O
~ U
C C
t>r CN 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
C
C U ~ O
W ~ 0) 00
U f6 C r
.~: CO O
Cn Z
O
0000000000000000000
n '~ a~i }
a y ~ ~~
v Z c c
- w
V1
~ ~
r~
a
LR
Z
1 a
r } °~ °'
Lqz°R
z °- a
C
O ~
ro ° a
•~ N E
O ~
~"a
a
Q
x ~
m ~
F- E
o ~
U
C
lC1 eF V V V' V' ~ ~ ~ 7 7 ~ sf V ~ ~ ~ ~ ~
dD 0 O1 O~ d' ei' 7 V~~ V 7 7 7 'cF eT V V~
~n v a v v_ v_ v_ v v_ v_ v_ v_ v_ v_ v_ v_ v v v_
ui 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
N N N N M O O O (A M M OD Cp CD M 00 M W (D
.~- (D O O (D O Cq C'D O OD (D (D fD O CD (D fD O O
CND 000 ~ 000 COO COO fO0 COO COO (00 COO COO COO (00 fO0 COO COO COO COO
N N N N N N N N N N N N N N N N N N N
CO N N N N N N N N N N N N N N N N O
O O) ~ O) lD lD lD to t0 In In ~ ~ ~ Cf) to CO ~ Cn Cn
N C7 M M O O O O O O O O O O O O O O O O N
~ N N N O O O O O O O O O O O O O O O O N
N N N N N N N N N N N N N N N N N N N N r
o 0 0 0 o cD o cD cD m co m o o co co co o cD m
~ ~ ~ CT ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ '~ d• ~ ~
4 r, r ~ [f V CO O CO O (O CO CO O O CO O CD CO CO O CO
7 X N. 00 CO (MO COD to t0 CO CA to Cn N to LL) t!) to Cn tt) CO to to
(0 r r r r r r r r r r r r r r r r r r r r
U U
w
U
' Z CA O N C'7 ~ Cl) O ~ O 0 O r_ N_ C~7 [}' Cn CD 1~ (D
i R:IQ 0 0 0 O O O O O O O O
y,J CA 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O~O
}~ m r N N N N N N N N N N N N N N N N N N N
V
h
0
Z
S
J
O
C
O
C C
€w
~~•• C
~ E
d
U U
~ C
~ X
o =°•
c~ °'
o=
N E
C
o° uNi
o °~
N ~
0
a c
N ~
CQ ~
d=
U ~
c ~
N U
N 2
N ~
`• N
~~ a
sL ~
m 'o
o~
U E
!~ o
LL
~ ~
~ U
~ ,~ o
n
~ ^ U
rn x
R
a ~
0 0
~,
~' o
a
0 0 'o
I~ II ~ j
•O CA r m
U ~ ~ ^ ~
7
d > c ti E
Q m m N
m°•'v~ °'
~ U
i 4 W C a C
Nam°m
U X "~' V C
- a o N ~
U-F2CLtL
.-NCh ~ ~
M
W
Q
0_
U
c
a
U
a
o_
W
a
a
d
`m
a~i
a`
Y
ai
O
a
•
•
•
-v N Qj w w r v w us w i~ w w w v w< w r v v w w ~~
C U O U) N 00 to N O CO M O n d' ~ d0 to N_ O t17 N m
W~ .~. V O n Of O N E to n O N v CO n m N V O n
V A C r r r r r r N N N N N N M M M M M
47 m Z
c O O O O O O O O O O O O O O O O O O O O
y N O
~ p O
N U
C C
O O u7 O to O W O In 0 to O to O ~A O In O In O In 0
C dD O M to OD O M to OD O M tf] OD O M l1) a0.0 M to W
'O m dNNrOOfa>aonCOCOto~tMMNrppOCOn
C U d0 IA N aD tf) N m CO M O n~ a0 ~ N m N CV O
W~ .U-. ~ to n 0) O N ~' to n O N v CO n rn N v CO n
V A C r r r r r r N N N N N N M M M M M
.~'.. m O
N Z
O ~n in ~n in ~n ~n ~n ~n u~ ~n ~n ~n ~n ~n ~n ~n ~n ~n ~n ~n
f6 N N N N N N N N N N N N N N N N N N N N
H E} O O Of ~ m O) O O ~ 0 0 O) O m m m m O m m
cD c0 c0 c0 cp cD c0 c0 c0 cp c0 c0 c0 c0 cD cD c0 c0 c0 c0
U U O r r r r r r r r r r r r r r r r r r r r
Z `-' v
C C
W
C~
W~
W
O
V
~~
QI
CI
J
W~
LL
_:
Ui
~~
i
v
3
c
E
m
U
X
r
.., o
0
N
v
a
c
m
a
c
as
U
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 N
0 0 0 0 0 0 0 0 0 0 0 0 O O 0 0 0 0 0 0 0 w
C ~ O O O O O O O O O O O O O O 0 0 0 0 0 O O ~
~~~ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 00 ~
a
O
C ~A N t1) ~!) ~[? 171 ~ In ~ ~ to ~ iA to N in to N ~ V..
g y n n n n n n n n n n n n n n n n n n n
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
'= N
.~ ~ d
a
Q
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
~ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
c 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
F- °1 0000000000000000000
E M M M M M M M M M M M M M M M M M M M
(A ~
O v
~r C
I
I
~~
W
U
Z rn 0 N M I to O n N O O r _N M~ N O n
Q O) O O O O O O O O O O
J 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O O O
Q r N N N N N N N N N N N N N N N N N N
m
O
O
7
a
R
E
v
m
m
m
a
c
LL
w
c~
Q
a
U
c
fl.
U
a'
m
w
a
a
a
d
a`
v
s
rn
0
a
•
~p ~ -~
_
O t j
f- O Il
L j ~
O tL ~
~
°: F- EZ
~Zam
a
c
~ v m ~
~ c~ ~
O ~ ~ o
aN Ch ~ CnG 7 O O ~ (O C ~ OMD (m0 CM7 N ~ 1~ ~ iOf) ~ ~ ~ ~
M O n N C7 O co Cp y r OI n ~n N N N N N N N N
M N O d0 CO ~ O n In N O ao CO (p CO f0 CO (O CO CO
O OD OD n n n n CO tp CO CO CO O ~ ~ to to to ~ ~ ~
to N n rn r o7 LL'1 t` m r (7 to I~ O O O m m M m m
r r r r r N N N N N N N N N N N N
_M 0 0 0 0 0 0 0 O O 0 0 0 0 0 0 0 0 0 0 0
l!')
O O ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ O O O O O O O
O O O O O O O O O O O O
mooooaoaooocoaoaoaoooao
rrrrrrrrrrr
000000000000000000000
ao cowaoaowooaocoaooooo~n
co cc cp cc co c~ to co co co co co cc
of of of of ai rn of of ai of of of of
n n n n n n n n n n n n n ~
N
t0
to
O
N
(!~
Ln
~M~
n
0
ao
ui
m
q
I
~
Nrn ococornN~nc~ rnvrnnnnnnnnn
n
C
'a ~ N n v n CO rn n v m O n O n N N N N N N N N
NN coonrau~~n~noaoaommr~cnmcnr~r~ N
c*~
_
~~ W C n CO ao t0 to (O M co N CO ao ao M N N N N N N- N N
" N
- ~
F nM ~7nu
)M000MaoMaonnnnnnnn
n m N D7 m~ O) ~ O O h n c0 M M M c0 M M co co n
c'7
U
I Y m N N C7 r r r r r r r r N N N N N N N N N
(A
~ - I
0 000000000000000000000 01
47
Q
N E o
I
o
a`>
i c c
I
~ O 01 r lC1 O n h I~ N N N
~ iO n 0 0 O O O O O eP
cQ _
N CO CO Of CO N N C O n N d' N
~ lA C7 t{7 CD lA ~ O m O ~1'/ N 0I <}' ~
~
}
F" E O) N N O m N V tl') CO d0 O N CD
a ~
~ ~ O n
o n N r N v N v~ ~ ~[7 DO
N N `-" ~ CO OD
~
Z ~ ~ .
c c
W ~
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
°'
N
N ~
1
0 ~.
a x
w
~ N O O O O O O O O O O O O O O O O O O O O
`
' N
f4 In
- IA
~ H E }
i ~ ~ O O
r O
N Z C 'O
_ C
C W
i O) O a0 0 0 1~ r n N N N LL7 to n 0 0 0 O O O O CO
fII N. N to to O O N N to O n N a d'
~ lA O N m CD to n O m O U'1 N m~ O
~
}
Z F- E V OD r N D1 m N~ IA CO CD O N CO
C7 a0 N N r N N N v v~ M M N
M
-~ ~ ~ O
U - (~ V ~ N .... ~. (O r
p
Z
~ c N
W
r CO X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O O O
f6
x C ~ 7 N O N
CO N 00 ' ~
~ ~ ~'
~ N OD CO to
~O
=
N ov rv
J
V a
Z C C N ~.
....
W
1
'~ O O N Ch 7 M CO n co Of O r N c'o ~ to CO n co
~ ~~
d~ Z m 0 0 0 0 0 0 0 0 0 0
¢ M 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
}~ Q r N N N N N N N N N N N N N N N N N N N
0
a
m
V
x
R
d
a
tO
U
D
R
a~
d
s
E
O
0
0
°o ui
~ ~
~n 2
rn
c
°ocom
an W
N ~ r
c
m
a
w
O V N
- c
U ~ ~
d
(6 j R (~
L_ N m ~
';did
~ o a
°ocUZ
N ~
~ C
a °'
c y
C U
O C
m
x
O F~
U ~
3 0
m~
y d
~v~~
N ~ ~
E c~~c
J U 7 3
C m W LL
m ~
a
fA
~ C II
J N
N C
N N
t
N O N
a ¢ O
W
F
O
2
U
C
`o
t
w
T
N
c
a`
•
ASSESSMENT AGREEMENTS AND ASSESSOR'S CERTIFICATES
AND
LIMITED REVENUE TAX INCREMENT NOTES
FOR
RICHFIELD REDEVELOPMENT PROJECT AREA
AND
TAX INCREMENT DISTRICTS RELATING THERETO
MAY, 1999
CITY OF RICHFIELD, MINNESOTA
•
Lyndale Hub Nicollet (L-H-N)
-:Date Pro'ect A reement Terms
March 18 Lyndale Garden Center Assessment Agreement Minimum value $1,690,700
1981 and Assessor's Certificate commencing December 15,1981 until
last tax increment payment for LHN
TIF District ear 2004
October 12 Lake Shore Drive Assessment Agreement Minimum value $10,000,000
1981 Condominiums and Assessor's Certificate commencing December 31,1982;
minimum value $12,000,000
commencing December 31,1983 until
December 31, 2001
October 26 Richfield Shoppes Assessment Agreement and Minimum value $1,902,000
1983 Assessor's Certificate commencing December 31,1984 until
last LHN tax increment bond maturity
ear 2004
December 13 .Richfield State Agency Assessment Agreement and Minimum value $5,039,831
1983 (Addition of 3 stories to bank Assessor's Certificate commencing upon project completion
building, parking lot until last tax increment payment for
improvements) (NOTE: See February 15, LHN TIF District (year 2004)
1994 entry for amended
Assessment Agreement and Assessor's Certificate resulting from new
construction of Woodlake Medical Clinic)
December 27 Woodlake Point Assessment Agreement and Minimum value $11,500,000
1984 Condominiums Assessor's Certificate for commencing January 2,1987 until
Housing Component A March 31, 2002 or last tax increment
payment in LHN TIF District (year
2004
December 27 Market Plaza and Assessment Agreement and Minimum value for shopping center
1984 Market Towers Assessor's Certificate for and housing $10,375,000
(Village Shores) Shopping Center Component commencing January 2,1987 until
and Housing Component B March 31, 2002 or last tax increment
payment in LHN TIF District ((year
2005); individually, minimum value for
shopping center $3,500,000 and
minimum value for housing at
$6,875,000
July 31 Rainbow Foods Assessment Agreement and Minimum value $3,087,213
1991 Assessor's Certificate commencing January 2,1992 until
A ril 1, 2001
•
Lyndale Hub Nico{let (L-H-N)
Date Pro'ect A reement Terms
July 31 U.S. Swim and Fitness Assessmenfi Agreement and Minimum value $1,854,000
1991 Assessor's Certificate commencing January 2,1992 until
April 1, 2001
December 21 Richfield State Agency Limited RevenueTax Original principal amount of Note
1993 (Richfield State Agency 1983 Increment Note $226,817; amount of accrued interest
improvements* and Woodlake from date of Note $80,415; total
Medical Clinic) amount of payments $307,232
to be paid semi-annually on each
February 1 and August 1,
commencing August 1,1996 until
February 1, 2001
February 15 Amendment to Assessment Minimum value $5,039,831
1994 Agreement (Original commencing February 15,1994 until
Assessment Agreement and January 2,1995; minimum value
Assessor's Certificate dated $6,104,800 commencing January 2,
1983*) 1995 until last tax increment payment
for LHN TIF District (year 2001)
*See December 13,1983 entry
Interstate-Lyndale-Nicollet (1=L-N)'
Date Pro'ect .reement Terms
December 9 Hampton Inn Assessment Agreement Minimum value $2,060,000
1985 and Assessor's Certificate commencing January 2,1988;
minimum value $2,660,000
commencing January 2,1989;
minimum value $3,402,000
commencing January 2,1990 until
January 2, 2005 or last tax increment
payment for ILN TIF District (year
2011
April 29 Shops at Lyndale Limited Revenue Tax Original principal amount of Note
1994 Increment Note (Phase I) $2,196,358; amount of accrued
interest from date of Note $2,597,178;
total amount of payments $4,793,536
to be paid semi-annually on each
February 1 and August 1,
commencing August 1, 1996 until
Februa 1, 2012
•
Interstate-Lyndale-Nicollet (I-L-N)
Date Pro'ect A reement Terms
April 29 Shops at Lyndale Limited Revenue Tax Original principal amount of Note
1994 Increment Note (Phase II) $1,125,759; amount of accrued
interest from date of Note $1,033,409;
total amount of payments $2,159,168
to be paid semi-annually on each
February 1 and August 1,
commencing August 1,1997 until
Au ust 1, 2010
March 18 Meridian Crossings Limited Revenue Tax Original principal amount of Note
1996 Increment Note (Phase I) $3,730,472; amount of accrued
interest from date of Note $3,884,574;
total amount of payments $7,615,046
to be paid semi-annually on each
February 1 and August 1,
commencing August 1,1999 until
Februa 1, 2012
March 18 Meridian Crossings Limited Revenue Tax Original principal amount of Note
1996 Increment Note (Phase II) $8,494,593; amount of accrued
interest from date of Note
$10,075,145; total amount of
payments $18,569,738 to be paid
semi-annually on each February 1 and
August 1, commencing August 1,1999
until Februa 1, 2012
Interchange (Galyans)
Date Pro'ect A reement - Terms
December 31 Galyan's Trading Company Limited Revenue Tax Original principal amount of Note
1996 (The Limited, Inc.) Increment Note $3,323,309; amount of accrued
interest from date of Note $6,839,413;
total amount of payments $10,162,722
to be paid semi-annually on each
February 1 and August 1,
commencing August 1,1999 until
Februa 1, 2019
•
Cedar Avenue Business Area (CABA)
Date Project Agreement Terms
Note: The CABA tax increment district expired December 31,1996. No further tax increment to be received. Final
obli ation of tax increment to be aid December, 1997.
March 9 Copy Duplicating Products, Assessment Agreement Minimum value $5,343,000
1988 Inc. (CDP) and Assessor's Certificate commencing attime of construction
.completion (12/18/89) and until last
increment payment for CABA TIF
.District (year 1996)
March 9 Reimbursement Agreement Amount of reimbursement (principal
1 ggg and interest) $850,000 commencing
annually from receipt of first tax
increment (1990) until last increment
in December, 1996
Richfield Rediscovered (RR)
Date Project A reement Terms
May 22 6313 Morgan Ave. Assessment Agreement Minimum value $90,000 commencing
1992 (Glenn Wisser) and Assessor's Certificate** January 1,1993 through payment of
real estate taxes due and payable in
2017
January 6 6625 Stevens Ave. Assessment Agreement Minimum value $110,000 commencing.
1995 (Sussel Corp.) and Assessor's Certificate* January 1,1996 through payment of
real estate taxes due and payable in
2021
Gramercy.
Date Pr 'ect A reement Terms
December 21 Gramercy Park Cooperative Limited Revenue Tax Original principal amount of Note, as
1998 at Lake Shore Drive Increment Note amended on 12/21/98, $2,230,174;
amount of accrued interest from date
of Note $4,029,807; total amount of
payments $6,259,981 to be paid semi-
annually oneach February 1 and
August 1, commencing August 1, 2001
until Februa 1, 2026
Urban Village
Date Pro'ect A reement Terms
November 16 Richfield State Agency, Inc. Limited Revenue. Tax Original principal amount of Notes
1998 Increment Note $8,834,587; amount of accrued
interest from date of Notes
$13,479,669; total amount of
payments $22,317,256 to be paid
semi-annually on each February 1 and
August 1, commencing August 1, 2002
until Februa 1, 2027
*Notes:
• Payments on Limited RevenueTax Increment Notes made only if Developer pays property taxes.
• Assessment Agreements are required for certain Richfield Rediscovered properties when additional performance
. security is required of builders in order to guarantee minimum building value.
C:
6
L PMENT A TH RITY
HOUSING AND REDEVE O U O
HRA Letter No. 25
Agenda May 17, 1999
Issue Statement:
Request from CSM Properties, Inc. to amend the Contract for Private Development for
the Interchange West area.
Background:
The Richfield Housing and Redevelopment Authority (HRA) granted a 90-day extension
to CSM Properties, Inc. for the completion of site assembly activities in the Interchange
West area on February 16, 1999. CSM has been reporting their progress on site
assembly in a weekly status report. There has been a great deal of progress in
negotiating the purchase of residential property; evidenced by the fact that CSM has
signed purchase offers with 53 of the 68 residential property owners. CSM reports in
the attached letter (Exhibit A), however, that due to the complexity of the negotiations
with commercial property owners they have been unable to progress at the same pace
for the purchase of commercial properties. In an attempt to keep the residential portion
of the development moving forward and in order to adhere to the schedule which they
have established with homeowners, CSM is requesting that staff prepare an
amendment to the contract to allow the project to be completed in two phases. The first
phase being the residential portion of the project and the second being the commercial
portion. If this request is accepted, staff would prepare such. an amendment for the
June 21 HRA meeting.
Recommended Motion:
Direct staff to prepare an amendment to the contract to provide for the commencement
of condemnation on the existing residential property separate from and ahead of
condemnation of the existing commercial property and to submit the amendment to the
HRA for consideration at their June 21, 1999 meeting.
Basis of Recommendation:
1. CSM has made significant progress in negotiating the purchase of residential
properties.
2. Due to the complexity of negotiations for the purchase of commercial properties,
CSM has not finished negotiations for the majority of those properties.
3. In order to keep the residential portion of the development moving forward and to
adhere to the schedule which they have established with homeowners, CSM
suggests that the project be completed in two phases.
Alternative Recommendation:
1. Deny the request to direct staff to prepare the amendment and terminate the
Contract for Private Development with CSM for noncompliance.
•
2. Require that both phases of the project progress simultaneously and grant CSM an
extension for the completion of site assembly activities.
Discussion/Decision Mode:
Any such amendment would not affect the establishment of a tax increment finance
district for Interchange West.
Murray Kornberg, from CSM Properties, Inc., will be present to provide an update of
,their site assembly activities.
ctfully sub, 'tted,
n L. Devic
Acting Executive Director
SLD:cak
•
Exhibit A
--.~~ Celebrating 20 Yeeus,-of Serving You
~~
CSM Corporation
-~~ 2575 University Arenue West, Sulte 150 • St. Pahl, MN 55114-1024 (651) 646-1717 • FAX (65t) 646-2404
~_~
May 7, 1999
1V1r. yohn Stark
City of Richfield
6700 Portland Avenue
Richfield, MN 55423
Re: Interchange West
Dear John:
•
As you knov~~ we have been continuing our efforts to conclude our negotiations on the
acquisition of residential and commercial property in the Interchange West Project Area.
As of the writing of this letter, we have 53 signed residential purchase agreements, and
agreement on price and terms with 4 other homeowners, whose contracts have either not
yet been fully redrafted, or are being reviewed by legal counsel. One homeowner
requested mediation, which was completed, and we are attempting to resolve one
outstanding issue that will allow us to sign that agreement. We are continuing our efforts
to sign the remaining nine property owners, and are confident that we will be able to
complete purchase agreements with all nine within the next several weeks.
We continue tv make progress in our negotiations with commercial property owners.
Because of the more complicated nature of those acquisitions, the time to complete
negotiations and document those negotiations in a commercial purchase contract is
substantially longer than is the case for residential property acquisition. We have reached
agreement on price and the basic terms with 6 commercial property owners and are in the
process of completing those purchase agreements, and are continuing our negotiations
with the remaining commercial property owners.
In reviewing our Contract for Redevelopment, we have found that the contract does not
contemplate the situation in which we now find ourselves; acquisition of residential
property proceeding much faster than the acquisition of commercial property. Also,
because of the inherent differences in the process for developing the new residential
components as opposed to the new commercial components, it is conceivable that the
development of the residenial components could commence earlier (and be completed
earlier) than the eomumercial components.
Therefore, we request the IAA, to authorize staff to prepare an amendment to the contract
to provide for the commencement of condemnation on the existing residential property
separate from and ahead of condenmation of the existing commercial property. We
continue to remain hopeful that we will not require condemnation on any property in the
l~
project area, but such an amendment would recognize the differences in timing between
the two types of acquisition and development activities. In the future if we were to
request condemnation, such an amendment could also facilitate an earlier commencement
to portions of the project if required.
I look forward to discussing our request, and the status of our acquisition activity with
l`llt~ at the hearing on May 17, 1999.
Sincerely yours,
•
HOUSING AND REDEVELOPMENT AUTHORITY
HRA Letter No. 24
Agenda May 17,.1999
Issue Statement:
Consideration of a resolution regarding approval of a Modification to the
Redevelopment Plan for the Richfield Redevelopment Project Area; and establishment
of the Interchange West and Lyndale Gateway Tax Increment Financing District and
Tax Increment Financing Plan.
Background:
The resolution being considered would establish the Interchange West and Lyndale
Gateway TIF District and TIF Plan. A description and brief history of the projects
included in the TIF District and Plan is as follows:
Interchange West
CSM Properties, Inc. was selected by the Richfield Housing and Redevelopment
Authority (HRA) in 1997 to conduct a redevelopment feasibility study of the Interchange
West area. During the course of the study, an extensive neighborhood participation
effort was undertaken to seek the opinions of homeowners as to whether or not they
should be included in the redevelopment. Surveys were conducted and the final results
showed that 70 percent of the homeowners would prefer to have their homes
purchased if the commercial area was redeveloped. Based on those results, CSM
created a redevelopment concept which includes the area bounded by Penn and Knox
Avenues and by 76th and 78th Streets.
The HRA entered into a Contract for Private Redevelopment with CSM in October 1998
for the Interchange West area. CSM presented their concept plan at the February 16,
1999 HRA meeting. The primary elements of this concept plan included a 350-room
hotel, 375,000 sq. ft. of office space in two connected buildings, a restaurant site, an
upscale car dealership, 175 to 250 townhome units and a 100-unit apartment building.
The estimated market value for the proposed Interchange West development is
approximately $130 million. This represents an increase of $108 million over the
current assessed market value. The gross annual increment has been projected at
over $6 million. Appendix D of the Tax Increment Plan provides additional, detailed
cash flow information.
Lyndale Gateway
The Lyndale Gateway is bordered by the alley east of Garfield Avenue and Aldrich
Avenue between 76th and 77th Streets.
This area. was first identified for redevelopment in the Interstate-Lyndale-Nicollet (ILN)
Redevelopment Plan which was completed in 1985. Several components of that plan,
most notably the Shops at Lyndale development, have been completed. In 1996 the
Hoisington-Koegler Group completed a new plan for South Lyndale Avenue. The plan,
which was conducted with a high degree of community participation, recommended a
complete redevelopment of Lyndale Avenue between 76th and 77th Streets.
Since 1996, there have been several concepts for redeveloping South Lyndale Avenue.
In 1998, the concept proposed by CSM Properties, Inc. was selected by the HRA and a
Contract for Private Redevelopment was adopted in January 1999. Subsequently, a
concept plan for the redevelopment was submitted to the HRA on April 19. This
concept plan included a drug store and an additional 44,000 sq. ft. of retail and office
space on the west side of Lyndale Avenue. On the east side of Lyndale, CSM has
proposed a 151-unit senior complex adjoining 37,000 sq. ft. of office space. The
development on both sides of the street contains a mixture of surface and underground
parking. Additionally, the Lyndale Gateway Tax Increment Financing Plan allows for
townhome development on the east side. of Garfield Avenue between 76th and 77th
Streets. While this area is not currently designated in the concept plan, its inclusion in
the TIF plan is to allow for the development to occur if the majority of homeowners in
that area demonstrate a preference to sell their homes.
The estimated market value for the development of Lyndale Gateway is $25 million.
This represents an increase of nearly $21 million over the current assessed market
value. The gross annual increment has been projected at $707,600. Appendix D of the
Tax Increment Plan provides additional detailed cash flow information.
A rovision of both the Interchan a West and L ndale Gatewa Contracts for Private
p g Y Y
Redevelopment is an agreement on "the form of the Tax Increment Plan, which,
following agreement as to form, shall have been considered and adopted by the City."
Additionally, the contract requires the identification of "the level, the nature and the
form of public assistance which is necessary in order to facilitate the development
contemplated in the Concept Plan." Both of these conditions of the contract are
addressed by the resolution which is being considered. Essentially, the form of public
assistance is the tax increment to be generated on the site and the use of public
assistance will be for reimbursement of site assembly costs.
Four parcels which are included in the proposed Interchange West and Lyndale
Gateway TIF District are currently a part of the Interstate-Lyndale-Nicollet (ILN) TIF
District. These parcels are located at 7601-7633 Lyndale Avenue (east side of the
street). If the Lyndale Gateway TIF District and Plan are established, these parcels will
be "decertified" from the ILN TIF district.
In addition to the cash flows detailed in Appendix D, it is recommended that the
executive summary be reviewed:
Other Modifications to the Richfield Redevelopment Project Area
There are several additional modifications to the Richfield Redevelopment Project Area
which are not related to the Interchange West or Lyndale Gateway areas. The purpose
• of these modifications is to expand the boundary of the project area so that it
corresponds to the redevelopment planning areas within the City. Specifically, these
areas are the Richfield Lake Area plan (REAP) and the Airport Mitigative Area.
The additional modifications are included to recognize prior redevelopment
opportunities that were available to the HRA. The following opportunities came in the
form of early property acquisitions from willing sellers for substandard property. These
acquisitions include the former Hat Trick Hockey property, the former FINA gas station
at 66th Street and Elliot Avenue, and a residential property located at_7608 Pillsbury
Avenue.
Seven single-family residential properties located at 6913 - 6937 Penn Avenue were
also purchased by the City as part of a stormwater mitigation program. These
properties will be conveyed to the HRA for redevelopment ofmarket-rate townhomes on
residual land after the stormwater retention pond has been implemented by the City.
There may also be the opportunity to redevelop parcels including, and adjacent to, the
City's garage, 7700 Pillsbury Avenue. The purpose of this redevelopment would be to
either expand the City Garage at .its current location or to relocate the Garage and
redevelop the site. In addition to the property currently owned by the City, this would
include three single family homes and a commercial property. These,properties are
included as a modification to the Richfield .Redevelopment Project Area at this time to
• negate the necessity of an additional project area modification in the future.
Recommended Motion:
Adopt the attached resolution which:
• approves a modification to the Richfield Redevelopment Project Area
Redevelopment Plan;
• establishes the Interchange West and Lyndale Gateway Tax Increment Financing
District;
• approves the Interchange West and Lyndale Gateway Tax Increment Financing
Plan; and
• requests the City Council to hold a public hearing and approve the modified
Redevelopment Plan and new Tax Increment Financing Plans.
Basis of Recommendation:
1. Both the Interchange West and Lyndale Gateway areas have been identified for
redevelopment.
2. The HRA entered into a Contract for Private Redevelopment with CSM for the
redevelopment of the Interchange West area on October 19, 1998 and for the
redevelopment of Lyndale Gateway on January 19, 1999.
3. The approval of the plan documents is consistent with the requirements of both of
the Contracts for Private Development.
4. The Planning Commission is scheduled to make a finding on the consistency of the
Tax Increment Financing Plans with the Richfield Comprehensive Plan on May 25,
1999.
5. The redevelopment and tax increment plans meet the requirements of state law
and established procedures within Richfield.
Alternative Recommendation:
1. Do not approve the resolution to adopt the modification of the Richfield
Redevelopment Project Area and the establishment of the Interchange West and
Lyndale Gateway TIF District and Plan.
2. Amend the resolution to eliminate those portions of the Interchange West and
Lyndale Gateway TIF District which are related to either to the Interchange West or
Lyndale Gateway projects.
3. Delay approval of the modification to the Richfield Redevelopment Project Area or
the establishment of the new TIF District and Plan.
4. Seek alternatives to the proposed project.
Discussion/Decision Mode:
The City Council's public hearing is scheduled for June 14, 1999. Sid Inman of Ehlers
& Associates, Inc. will be present at the HRA meeting and will be available to discuss
the attached plan documents. Additional information regarding Interchange West is
included in Exhibit A and additional .information regarding Lyndale Gateway is included
in Exhibit B.
Respectfully submitted,
Steven L. Devi
Acting Executive Director
SLD:cak
•
• HRA RESOLUTION NO.
RESOLUTION MODIFYING THE RICHFIELD REVELOPMENT PROJECT AREA AND
ADOPTING THE MODIFICATION TO THE REDEVELOPMENT PLAN RELATING
THERETO; AND ESTABLISHING THE INTERCHANGE WEST AND LYNDALE
GATEWAY TAX INCREMENT FINANCING DISTRICT THEREIN AND ADOPTING
THE RELATED TAX INCREMENT FINANCING PLAN
WHEREAS, it has been proposed that the Housing and Redevelopment
Authority (the "HRA") in and for the City of Richfield (the "City") adopt the Modification to
the Redevelopment Plans for the Richfield Redevelopment Project Area and establish
the Interchange West and. Lyndale Gateway Tax Increment Financing District and adopt
the Tax Increment Financing Plan related thereto,: (collectively, the "Plans"), all pursuant
to and in conformity with existing law, including Minnesota Statutes, Sections 469.001
through 469.047., and Sections 469.174 to 469.179, inclusive, as amended, all as
reflected in the Plans and presented for the HRA's consideration; and
WHEREAS, the HRA has investigated the facts relating to the Plans and has
caused the Plans to be prepared; and
.WHEREAS, the proposed developments described in the Plans, in the opinion of
the HRA, would not reasonably be expected to occur solely through private investment
• within the reasonably foreseeable future and, therefore, the use of tax increment
financing is deemed necessary; and
WHEREAS, the HRA has performed all actions required by law to be performed
prior to the adoption of the Plans, including but not limited to, notification of Hennepin
County and School District No. 280 having taxing jurisdiction over the property to be
included in the Interchange West and Lyndale Gateway Tax Increment Financing
District,. notice of a proposed redevelopment district to the local county commissioner, a
request for review of and written comment on the Plans by the City Planning
Commission, and a request that the Council schedule a public hearing on the Plans
upon published notice as required by law.
NOW, THEREFORE, BE IT RESOLVED by the Housing and Redevelopment
Authority in and for the City of Richfield, Minnesota.
1. The HRA hereby finds that the Interchange West and Lyndale Gateway Tax
Increment Financing District is in the public interest and is a "redevelopment
district" under Minnesota Statutes, Section 469.174, subd. 10 (a)(1), and
finds that the adoption of the proposed Plans will advance the HRA's and
City's objectives of encouraging redevelopment within the Richfield
Redevelopment Project Area.
2. Conditioned upon the approval thereof by the City Council following its public
hearing thereon, the Plans, as presented to the HRA on this date, are hereby
approved, established and adopted and shall be placed on file in the office of
the City Clerk..
3. Upon approval of the Plans by the City Council, .the staff, the HRA's advisors
and legal counsel are authorized and directed to proceed with the
implementation of the Plans and for this purpose to negotiate, draft, prepare
and present to the HRA for its consideration all further plans, resolutions,
documents and contracts necessary for this purpose. Approval of the Plans
does not constitute approval of any project of a Development Agreement with
any developer.
4. Upon approval of the Plans by the City Council, the HRA's Executive Director
is authorized to forward a copy of the Plans to the Minnesota Department of
Revenue pursuant to Minnesota Statutes 469.175, subdivision 2.
5. The City Clerk is authorized and directed to forward a copy of the Plans to the
Hennepin County Auditor and request that the Auditor certify the original tax
capacity of the Interchange West and. Lyndale Gateway Tax Increment
Financing District as described in the Plans, all in accordance with Minnesota
Statutes 469.177.
• Adopted by the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota this 17th day of May, 1999.
Thomas E. Harms, Chair
ATTEST:
Michael Sandahl, Secretary
i
Exhibit A
Additional Information for the Consideration of the
Interchange West TIF District & Plan
Public Notice and O ortunit for Partici ation
Since July 1997, there have been 221etters sent out to each property owner, household and
business in the Interchange West area. An informational hotline has also been operational
since last summer and has been updated regularly. The purpose of these communications has
been to inform affected parties of upcoming meetings; the results of meetings, changes to the
schedule; opportunities for participation and provide an update of the project. CSM's real
estate consultant has also sent seven project updates to residential property owners since
October 1998.
There were three neighborhood meetings to discuss the redevelopment concept and the ability
to "vote" for a number of redevelopment options. A survey was also conducted to identify
neighborhood concerns and desires.
There have also been 11 public meetings relating to CSM's development of the Interchange
West area.
• Acquisition of Property
CSM issued purchase offers to all 68 residential property owners on February 15, 1999. Since
that time, approximately 50 homeowners have accepted purchase offers; this represents 74
percent of the residential properties. In March, mediation services were offered, free of
charge, to all residential property owners. One household utilized mediation services, and
another three were identified as "hardship cases" by CSM, thereby receiving special
consideration.
All commercial property owners have received purchase offers. Several have accepted their
offer while others have not had sufficient time to negotiate. CSM will continue working with
commercial property owners.
Housing Diversity
The Concept Plan for Interchange West includes a minimum of 270 units of housing of
varying styles, sizes and costs.
Included in the plan is a 100-unit apartment complex. This complex will house a mixture of
one and two bedroom units and will have provisions for housing families living below median
income levels.
• CSM is also proposing at least 170 units of housing for sale: This too will vary in terms of
design, size and cost. Many of the units will be multi-story townhomes, while others will be
single story "flats" located above. It is intended that these units will vary in price from
$130,000 to $180,000. The TIF Plan specifies that there will be a component of affordable
housing in these units.
Traffic
The engineering firm of SEH has conducted a traffic analysis of the Interchange West area
based on the development of the concept plan. The SEH study provides several transportation
elements that will lessen the impact of the increased traffic flow on existing City streets.
According to the traffic study, the level of service at key intersections may actually improve
over existing conditions if-the recommendations are followed. Many of the recommendations
of the SEH study are reflected in the current concept plan. The remaining. issues will be
addressed by staff, the developer and the traffic consultants prior to a rezoning of the property.
Pedestrian, Bicycle and Transit Use
A portion of the Interchange West area is located in the Twin Cities' Transit Zone, meaning
that it is located within a quarter mile of the regional transit network. The transit network is
designated as such due to the availability on non-automobile transportation alternatives present
The development itself is designed with sidewalks throughout and roadways of an ample width
for bicycle travel:
Comprehensive Plan
The Richfield Comprehensive Plan designates this area as Regional Commercial/Office,
Neighborhood Commercial and High Density Residential. The Planning Commission is
scheduled to make a finding on the consistency of the Tax Increment Financing Plan with the
Richfield Comprehensive Plan on May 25, 1999.
Environmental Assessment Worksheet (EAW)
The developer is currently in the process of completing an environmental assessment
worksheet. The rezoning necessary for the development cannot be enacted before this EAW is
complete and has been reviewed by the public and by local and regional policy-makers.
Recreational/Community Facilities
Included in the development is a large water feature that is intended to serve a dual purpose as
both a community oriented park setting and as stormwater retention. The pond will contain
natural vegetation and will be encircled with pedestrian trails.
•
•
Cost of Services to New Development
While the development will contain more units of housing and square footage of commercial
space, those areas will be designed to modern specifications. Public Safety staff have
reviewed the plans several times and have ensured that 1) the site is designed using "crime
prevention through environmental design" techniques; 2) streets are designed properly for
emergency vehicles; 3) sprinkler systems will be added to the building where appropriate; and
4) building materials are used that will minimize fire hazards. These modern standards equate
to fewer service calls per unit.
Assessed Market Value & Increment Generated b Develo ment
The current assessor's estimated market value for the properties in the district is $22 million.
The market value of the project is estimated as $130 million; representing an increase of $108
million. The gross annual increment has been projected at $6.2 million.
The history of the estimated market value for the Interchange West area prior to
redevelopment is as follows:
,~ 19'-~~ 1996 . 1997 1998 1999:
$18,390,800 $18,612,600 $19,492,200 $20,313,100 $21,608,300
•
Tax Ca acit Ca tured in Richfield as Com ared to Other Similar Communities
The percentage of total tax capacity within the City of Richfield which was captured as
increment was 12.26 percent for taxes payable in 1998 (data for 1999 is not yet available for
comparison). The following graph compares Richfield's percentage of tax capacity which is
captured as increment with other similar communities:
Captured Tax Capacity in Other Similar Communities
1 e.oo%
15.46%
16.00%
~ 7.os°ro
14.00% I
12.26% 12.13% 12.33%
1 z.oo%
9.76% 10.25% 9.65% 9.44%
1 0.00%
8.0 2 % .,a.
6.00% -- -~
6.00% - _. - .. ;.-., .. _ .__
4.00% - -
_:_t
,.
2.00% ,<. ,.. _.. _. ~-.
.:. _.
0.00% ~ __ '-z. ,:. _
o ys e Q
F~c~oc Gyre` ~ ~~ Z`°'r`y o~~` ~a\e~ oQ~ce Q-r~e\a ~o~ya~e \\e ~` a ~C`~ aJ\
G
The percent of captured tax capacity is one way to measure redevelopment activity. Older
aggressive communities generally have a higher captured percentage.
Reasons Wh Richfield Redevelo s
• To Keep Residential Neighborhoods Vital
• To Retain and Attract Residents
• To Maintain a Stable and Growing Population
• To attract Investment
• To Compete with Developing Suburbs
Exhibit B
Additional Information. for the Consideration of the
Lyndale Gateway TIF District & Plan
Public Notice and O ortunit for Partici ation
Since November 1998 there have been seven letters sent out to each property owner,
household and business in the Lyndale Gateway area. The purpose of these communications
has been to inform affected parties of upcoming meetings; the results of meetings; changes to
the schedule; opportunities for participation; and provide an update of the project. There have
also been four public meetings relating to CSM's development of the Lyndale Gateway area.
Acquisition of Property
CSM intends to issue purchase offers to all property owners in the Lyndale Gateway prior to
June 21, 1999. During the negotiation period, mediation services will be made available at no
cost to property owners.
Housing Diversity
The 151 units of assisted living senior housing meets a housing need in Richfield which is
currently unsatisfied. Seventy-eight of the units will be two bedroom and seventy-three will be
one bedroom. The facility will meet the needs of many seniors who fall below specified
income levels; up to 40 percent of the units will be offered at a reduced rent.
Pedestrian, Bicycle and Transit Use
The Design Guidelines contained in the1996 Lyndale Gateway Plan state that development in
this area should: make public transit an essential part of the solution; establish a character
which is pedestrian in scale; and place buildings at the street frontage so that the area is more
focused to bicycles and pedestrians rather than the automobile. This development would
accomplish these guidelines in many ways, primarily by including transit stops as an integral
part of the plan; offering pedestrian plazas; and setting the parking behind the buildings.
Comprehensive Plan
The Richfield Comprehensive Plan currently designates this area as a Plan Study Area but is in
the process of being updated to reflect the findings of the Lyndale Gateway Redevelopment
Plan. The Planning Commission is scheduled to make a finding on the consistency of the Tax
Increment Financing Plan with the Richfield Comprehensive Plan on May 25, 1999.
Cost of Services to New Development
While the development will contain more units of housing and square footage of commercial
space, those areas will be designed to modern specifications. Public Safety staff have
reviewed the plans several times and have ensured that: the site is designed to using "crime
prevention through environmental design" techniques; that streets are designed properly for
emergency vehicles; building will be sprinklered where appropriate; and building materials are
used which will minimize fire hazards. Additionally, the senior apartment complex will have
on-site medical personnel. These modern standards equate to fewer service calls per unit.
Assessed Market Value & Increment Generated b Develo ment
The current assessor's market value for the properties in the district is $4.4 million. The
market value of the project is estimated at nearly $25 million, representing an increase of $21
million. The gross annual increment has been projected at $707,600.
The history of the estimated market value for the Interchange West area prior to
redevelopment is as follows:
-- ~ 99~ ---~ 1996 -~ ia97 1998 ~ t999
:$3,973,000 ~ $4,012,000 ~ $4,122,000 $4,298,00 $4,424,000
Tax Ca acit Ca tured in Richfield as Com ared to Other Similar Communities
The percentage of total tax capacity within the City of Richfield .which was captured as
increment was 12.26 percent for taxes payable in 1998 (data for 1999 is not yet available for
comparison).. The following graph compares Richfield's percentage of tax capacity that is
captured as increment with other similar communities:
Captured Tax Capacity in Other Similar Communities
,s.oo% 17.os°i°
1 5.46
16.00%
~a.ao% 13.11 % -
12.26% 12.13% 12.33%
~ 2.00% -
0
~o.oow 9.76% 10.25 /0 9.65% 9.44%
r _ -
8.02% _ -
s.oo% - -
'iii - ~:': ~~:~TT°~
- -
a.oo% -
2.00% -
o.oo% - -
~oo eC~` Qa~ .0r~e '~ a~e~ `icy he~a ate S~~e a a°
~ J Q ~e ~e ctiQ
~ ~~~ ~c o\JF ~o Q- ~~`cti ~~r
`oo~\c ~~ ~~~ ~`~~e G \aec ~o ~`~ o~~`~ ~ goy ~a`
G
The percent of captured tax capacity is one way to measure redevelopment activity. Older,
aggressive communities generally have a higher captured percentage.
Reasons Wh Richfield Redevelo s
• To Keep Residential Neighborhoods Vital
• To Retain and Attract Residents
• To Maintain a Stable and Growing Population
• To attract Investment
• To Compete with Developing Suburbs
EXHIBIT C
Ehlers and Associates
Tax Increment Financing District Overview
City of Richfield- The Interchange West and Lyndale Gateway Tax
Increment Financing District
Proposed action: Establishment ofthe Interchange West and Lyndale Gateway Tax
Increment Financing District and the adoption of a plan.
Redevelopment Plan: Modify the Redevelopment Program for the Richfield
Redevelopment Project Area to include the projects proposed
within the Tax Increment District.
Type of TIF District: A "Scattered Site" Redevelopment District
Parcel Number: See attached parcel lists
Location: See the attached maps
Proposed development: The Interchange West project is created to facilitate
redevelopment of existing buildings in the City ofRichfield. The
anticipated use is a 350 room motel, approximately 375,0000
square foot office building, a 50,000 to 70,000 square feet of
retail, 100 unit apartment and up to 250 town homes.
The Lyndale Gateway project is created to facilitate 50,000
square feet of retail space, 151 unit senior housing complex and
the potential for up to 30 town homes
Estimated annual tax increment: Interchange West: $6,221,847 Lyndale Gateway: $707,601
Proposed uses: See the attached budget
Form of financing: The project will be financed with apay-as-you-go note.
Maximum duration: The duration of the Tax Increment Financing District will be 25
.years from the date of receipt of the first increment. The date of
receipt of the first tax increment will be approximately 2002.
Thus, it is estimated that the Tax Increment Financing District,
including any modifications of the Plan for subsequent phases or
other changes, would terminate after 2026, or when the Plan is
satisfied. If increment is received in 2001 due to inflation, the
District will terminate in 2025
Administrative fee: Up to 10% of annual increment, if costs are justified.
Fiscal Disparities: The City ofRichfield will choose to calculate fiscal disparities by
clause b.
TIF District Overview
•
LGA/I-IACA penalty: The City elects to make the annual local contribution to the project to
exempt itself from the LGA-RAGA penalty. Contribution for an
redevelopment district is 5% ofannual tax increment. The contribution can
be made annually or in larger contribution throughoutthe life ofthe district.
3 Year Activity Rule At least one ofthe following activities must take place in the District within
(469.176 Subd. la) 3 years from the date of certification:
^ bonds have been issued
^ the authority has acquired property within the district
^ the authority has constructed or caused to be constructed public
improvements within the district
The estimated date whereby this activity must take place is June, 2002.
4 Year Activity Rule If after four years from the date of certification of the District one of the
(~ 469.176 Subd 6) following activities must have been commenced on each parcel in the
District:
^ demolition
^ rehabilitation
^ renovation
^ other site preparation (not including utility services such as sewer and
water)
If the activity has not been started by the approximately June, 2003, no
additional tax increment may be taken from that parcel until the
commencement of a qualifying activity.
5 Year Rule Within 5 years of certification revenues derived from tax increments must
(~ 469.1763 Subd 3) be expended or obligated to be expended. Tax increments are considered
to have been expended on an activity within the District if one of the
following occurs:
^ the revenues are actually paid to a third party with respect to the activity
^ bonds, the proceeds of which must be used to finance the activity, are
issued and sold to a third party, the revenues are spent to repay the
bonds, and the proceeds of the bonds either are reasonably expected to
be spent before the end of the later of (i) the five year period, or (ii) a
reasonable temporary period within the meaning of the use of that term
under §. 148(c)(1) of the Internal Revenue Code, or are deposited in a
reasonably required reserve or replacement fund
^ binding contracts with a third party are entered into for performance of
the activity and the revenues are spent under the contractual obligation
^ costs with respect to the activity are paid and the revenues are spent to
reimburse a pay for payment of the costs, including interest on
unreimbursed costs.
Any obligations in the Tax Increment District made after approximately
June, 2004, will not be eligible for repayment from tax increments.
The previous summary contains an overview of the basic elements of the proposed Tax Increment
Financing Plan for the Interchange West and Lyndale Gateway Tax Increment Financing District. More
detailed information on each of these topics can be found in the complete TIF Plan.
Page 2
TIF District Overview
The reasons and facts supporting the findings for the adoption of the Tax Increment Financing Plan for the
Interchange West Tax Increment Financing District as required pursuant to M.S., Section 469.175, Subd.
3 are as follows:
1. Finding that the Interchange West portion of the Interchange West and Lyndale Gateway Tax
Increment Financing District is a redevelopment district as defrned in M.S., Section 469.174, Subd.
10(a)(1).
Interchange West portion consists of 98 parcels, with plans to redevelop the area for housing and
commercial purposes. At least 70 percent of the area in the parcels in the Interchange West portion
of the Tax Increment Financing District are occupied by buildings, streets, utilities, or other
improvements and more than 50 percent of the buildings in the Interchange West portion of the Tax
Increment Financing District, not including outbuildings, are structurally substandard to a degree
requiring substantial renovation or clearance (See Appendix F).
2. Finding that the proposed development, in the opinion of the City Council, would not reasonably be
expected to occur solely through private investment within the reasonably foreseeable future and that
the increased market value of the site that could reasonably be expected to occur without the use of
tax increment financing would be less than the increase in the market value estimated to result from
the proposed development after subtracting the present value of the projected tax increments for the
maximum duration of the Interchange West and Lyndale Gateway Tax Increment Financing District
permitted by the Plan.
The proposed development, in the opinion of the City, would not reasonably be expected to occur
solely throughprivate investment within the reasonably foreseeable future: This finding is supported
by the fact that the redevelopment proposed in this plan meets the City's objectives for
redevelopment. Due to the high cost of redevelopment on the parcels currently occupied by
substandard buildings, the limited amount ofcommercial/industrial property for expansion adjacent
to the existing project, the incompatible land uses at close proximity, and the cost of financing the.
proposed improvements, this project is feasible only through assistance, in part, from tax increment
financing. The developer was asked for and provided a letter and a proforma as justification that the
developer would not have gone forward withouttax incrementassistance (see attachment in Appendix
F).
The increased market value of the site that could reasonable be expected to occur without the use of
tax increment financing would be less than the increase in market value estimated to result from the
proposed development after subtracting the present value of the projected tax increments for the
maximum duration of the TIF District permitted by the Plan: The City supported this finding on the
grounds that the cost of site and public improvements and utilities add to the total redevelopment cost.
Historically, site and public improvements costs in this area have made redevelopment infeasible
without tax increment assistance. Therefore, the City reasonably determines that no other
redevelopment of any kind is anticipated on this site without substantially similar assistance being
provided to the development. Accordingly, the increased market value anticipated without tax
increment assistance is $0.
A comparative analysis of estimated market values both with and without establishment of the
Interchange West and Lyndale Gateway Tax Increment Financing District and the use of tax
increments has been performed as described above. If all development which is proposed to be
assisted with tax increment were to occur in the Interchange West project of the Interchange West and
•
Page 3
TIF District Overview
Lyndale Gateway Tax Increment Financing District, the total increase in market value would be up
to $129,303,942. The present value of tax increments from the Interchange West and Lyndale
Gateway Tax Increment Financing District is estimated to be $28,175,217. It is the Council's finding
that no development with a market value of greater than $101,128,725 would occur without tax
increment assistance in this district within 25 years. This finding is based upon evidence from general
past experience with the high cost of acquisition, site improvements, public improvements and
redevelopment in the general area of the Interchange West and Lyndale Gateway Tax Increment
Financing District (see Cashflow in Appendix D).
3. Finding that the Tax Increment Financing Plan for the Interchange West project of the Interchange
West and Lyndale Gateway Tax Increment Financing District conforms to the general plan for the
development or redevelopment of the municipality as a whole.
The Plan was reviewed by the Planning Commission on May 25, 1999. The Planning Commission
found that the Plan conforms to the general development plan of the City.
4. Finding that the Tax Increment Financing Plan for the Interchange West project of the Interchange
West and Lyndale Gateway Tax Increment Financing District will afford maximum opportunity,
consistent with the sound needs of the City as a whole, for the development or redevelopment of the
Richfield Redevelopment Project Area by private enterprise.
The project to be assisted by the Interchange West project in the Interchange West and Lyndale
Gateway Tax Increment Financing District will result in increased employment and housing
opportunities in the: City and the State of Minnesota, the replacement of substandard properties,
increased tax base of the State and add a high quality development to the City.
•
Page 4
TIF District Overview
The reasons and facts supporting the findings for the adoption ofthe Tax Increment Financing Plan for the
Interchange West and Lyndale Gateway Tax Increment Financing District as required pursuant to M.S.,
Section 469.175, Subd. 3 are as follows:
Finding that the Lyndale Gateway project in the Interchange West and Lyndale Gateway Tax
Increment Financing District is a redevelopment district as defined in M.S., Section 469.174, Subd.
10(a) (1).
The Lyndale Gateway portion of the Interchange West and Lyndale Gateway Tax Increment
Financing District consists of 37 parcels, with plans to redevelop the area for housing and
commercial purposes. At least 70 percent of the area in the parcels in the Lyndale Gateway project
are occupied by buildings, streets, utilities, or other improvements and more than 50 percent of the
buildings in the Lyndale Gateway project, not including outbuildings, are structurally substandard to
a degree requiring substantial renovation or clearance (See Appendix F).
2. Finding that the proposed development, in the opinion of the City Council, would not reasonably be
expected to occur solely throughprivate investment within the reasonablyforeseeable future and that
the increased market value of the site that could reasonably be expectedto occur without the use of
tax increment financing would be less than the increase in the market value estimated to result from
the proposed development after subtracting the present value of the projected tax increments for the
maximum duration of the Interchange West and Lyndale Gateway Tax Increment Financing District
permitted by the Plan.
The proposed development, in the opinion of the City, would not reasonably be expected to occur
solely throughprivate investment within the reasonablyforeseeable future: This finding is supported
by the fact that the redevelopment proposed in this plan meets the City's objectives for
redevelopment. Due to the high cost of redevelopment on the parcels currently occupied by
substandard buildings, the limited amount ofcommercial/industrial property for expansion adjacent
to the existing project, the incompatible land uses at close proximity, and the cost of financing the
proposed improvements, this project is feasible only through assistance, in part, from tax increment
financing. The developer was asked for and provided a letter and a proforma as justification that the
developer would not have gone forward withouttax increment assistance (see attachment in Appendix
F).
The increased market value of the site that could reasonable be expected to occur without the use of
tax increment f nancing would be less than the increase in market value estimated to result from the
proposed development after subtracting the present value of the projected tax increments for the
maximum duration of the TIF District permitted by the Plan: The City supported this finding on the
grounds that the cost of site and public improvements and utilities add to the total redevelopment cost.
Historically, site and public improvements costs in this area have made redevelopment infeasible
without tax increment assistance. This site has been marketed for at least 14 years without success.
Therefore, the City reasonably determines that no other redevelopment of any kind is anticipated on
this site without substantially similar assistance being provided to the development. Accordingly,
the increased market value anticipated without tax increment assistance is $0.
A comparative analysis of estimated market values both with and without establishment of the
Interchange West and Lyndale Gateway Tax Increment Financing District and the use of tax
increments has been performed as described above. If all development which is proposed to be
Page 5
TIF District Overview
assisted with tax increment were to occur in the Lyndale Gateway project in the Interchange West and
Lyndale Gateway Tax Increment Financing District, the total increase in market value would be up
to $24,646,406. The present value of tax increments from the Lyndale Gateway project in the
Interchange West and Lyndale Gateway Tax Increment Financing District is estimated to be
$4,339,493. It is the Council's finding that no development with a market value of greater than
$20,306,913 would occur without tax increment assistance in this district within 25 years. This
finding is based upon evidence from general past experience with the high cost of acquisition, site
improvements, public improvements and redevelopment in the general area of the Interchange West
and Lyndale Gateway Tax Increment Financing District (see Cashflow in Appendix D).
3. Finding that the Tax Increment Financing Plan for the Lyndale Gateway project of the Interchange
West and Lyndale Gateway Tax Increment Financing District conforms to the general plan for the
development or redevelopment of the municipality as a whole.
The Plan was reviewed by the Planning Commission on May 25, 1999. The Planning Commission
found that the Plan conforms to the general development plan of the City.
4. Finding that the Tax Increment Financing Plan for the Lyndale Gateway project of the Interchange
West and Lyndale Gateway Tax Increment Financing District will afford maximum opportunity,
consistent with the sound needs of the City as a whole, for the development or redevelopment of the
Richfield Redevelopment Project Area by private enterprise.
The project to be assisted by the Interchange West and Lyndale Gateway Tax Increment Financing
District will result in increased employment and housing opportunities in the City and the State of
Minnesota, the replacement of substandard properties, increased tax base of the State and add a high
quality development to the City.
r~
Page 6
TIF District Overview
BUDGET FOR THE INTERCHANGE WEST AND LYNDALE GATEWAY
TAX INCREMENT FINANCING DISTRICT
Uses of Funds Interchange Lyndale
Land Acquisition, Site Improvements
Public Improvements, Public-Utilities
And Other Public Improvements $50,000,000 $9,000,000
Interest 47,902,000 7,953,300
Administrative Costs (up to 10%) 10,878,000 1,883,700
TOTAL $108,780,000 $18,837,000
The City will be using some ofthe tax increment designated for land acquisition to provide down payment
assistance to a variety of prospective home buyers.
Page 7
TIF District Overview
PARCEL LIST OF THE RICHFIELD REDEVELOPMENT PROJECT AREA AND THE
INTERCHANGE WEST AND LYNDALE GATEWAY TAX INCREMENT FINANCING
DISTRICT
r
Page 8
• Interchange West
•
Address Address PID
7601 Penn Avenue 33-028-24-33-0037
7609 Penn Avenue 33-028-24-33-0036
7615 Penn Avenue 33-028-24-33-0035
7621 Penn Avenue 33-028-24-33-0034
7627 Penn Avenue 33-028-24-33-0033
7633 Penn Avenue 33-028-24-33-0032
7639 Penn Avenue 33-028-24-33-0031
7649 Penn Avenue 33-028-24-33-0012
7600 Oliver Avenue 33-028-24-33-0021
7604 Oliver Avenue 33-028-24-33-0022
7610 Oliver Avenue 33-028-24-33-0023
7614 Oliver Avenue 33-028-24-33-0024
7620 Oliver Avenue 33-028-24-33-0025
7624 Oliver Avenue 33-028-24-33-0026
7628 Oliver Avenue 33-028-24-33-0027
7634 Oliver Avenue 33-028-24-33-0028
7638 Oliver Avenue 33-028-24-33-0029
7644 Oliver Avenue 33-028-24-33-0030
7601 Oliver Avenue 33-028-24-33-0064
7609 Oliver Avenue 33-028-24-33-0063
7615 Oliver Avenue 33-028-24-33-0089
7621 Oliver Avenue 33-028-24-33-0088
7627 Oliver Avenue 33-028-24-33-0087
7633 Oliver Avenue 33-028-24-33-0062
7639 Oliver Avenue 33-028-24-33-0061
7645 Oliver Avenue 33-028-24-33-0060
7600 Newton Avenue 33-028-24-33-0052
7608 Newton Avenue 33-028-24-33-0053
7614 Newton Avenue 33-028-24-33-0054
7620 Newton Avenue 33-028-24-33-0055
7626. .Newton Avenue 33-028-24-33-0056
7632 Newton Avenue 33-028-24-33-0057
7638 Newton Avenue 33-028-24-33-0058
7644 Newton Avenue 33-028-24-33-0059
7601 Newton Avenue 33-028-24-33-0078
7605 Newton Avenue 33-028-24-33-0079
7611 Newton Avenue 33-028-24-33-0080
7617 Newton Avenue 33-028-24-33-0081
7623 Newton Avenue 33-028-24-33-0082
7629 Newton Avenue 33-028-24-33-0083
7633 Newton Avenue 33-028-24-33-0084
7639/41 Newton Avenue 33-028-24-33-0085
7643/45 Newton Avenue 33-028-24-33-0086
•
~~
•
7600 Morgan Avenue 33-028-24-33-0038
7608 Morgan Avenue 33-028-24-33-0039
7620 Morgan Avenue 33-028-24-33-0041
7624 Morgan Avenue 33-028-24-33-0042
7628 Morgan Avenue 33-028-24-33-0043
7634 Morgan Avenue 33-028-24-33-0044
7638/40 Morgan Avenue 33-028-24-33-0045
7642/44 Morgan Avenue 33-028-24-33-0046
7601 Morgan Avenue 33-028-24-33-0090
7609 Morgan Avenue 33-028-24-33-0091
7615 Morgan Avenue 33-028-24-33-0047
7621 Morgan Avenue 33-028-24-33-0048
7625 Morgan Avenue 33-028-24-33-0049
7629 Morgan Avenue 33-028-24-33-0050
7639/41 Morgan Avenue 33-028-24-33-0051
7645/47 Morgan Avenue 33-028-24-33-0004
1915 76th Street 33-028-24-33-0001
7608/10 Logan Avenue 33-028-24-33-0002
7614/16 Logan Avenue 33-028-24-33-0015
7620/22 Logan Avenue 33-028-24-33-0016
7626/28 Logan Avenue 33-028-24-33-0017
7636/38 Logan Avenue 33-028-24-33-0019
7644/46 Logan Avenue 33-028-24-33-0020
7601 LogarrAvenue 33-028-24-34-0006
2015/25 77th Streeet 33-028-24-33-0008
2101/09/15/21 77th Streeet 33-028-24-33-0010
7615 Logan Avenue 33-028-24-34-0005
7629/35 Logan Avenue 33-028-24-34-0014
7639/45 Logan Avenue 33-028-24-34-0015
7700 Logan Avenue 33-028-24-33-0005
7701 Logan Avenue 33-028-24-34-0007
7708 Logan Avenue 33-028-24-33-0006
7600 Knox Avenue 33-028-24-34-0002
7608 Knox Avenue 33-028-24-34-0003
7626 Knox Avenue 33-028-24-34-0009
7700 Knox Avenue 33-028-24-34-0010
7701 Penn Avenue 33-028-24-33-0013
7745 Penn Avenue 33-028-24-33-0014
7701 Newton Avenue 33-028-24-33-0009
2100 78th Street W 33-028-24-33-0011
2026 78th Street W 33-028-24-33-0067
2024 78th Street W 33-028-24-33-0066&65
2022 78th Street W 33-028-24-33-0068
2020 78th Street W 33-028-24-33-0069
2016 78th Street W 33-028-24-33-0070
2000 78th Street W 33-028-24-33-0007
1920 78th Street W 33-028-24-33-0093
C7
1900 78th Street W 33-028-24-33-0013
7701 Morgan Avenue 33-028-24-33-0094
7705 Morgan Avenue 33-028-24-33-0095
7713 Morgan Avenue 33-028-24-33-0077
7725 Morgan Avenue 33-028-24-33-0072
:~
Lyndale Gateway
•
Address PID
7600 Lyndale 33-028-24-44-0036
7608 Lyndale 33-028-24-44-0037
7614-16-18 Lyndale 33-028-24-44-0038
7620-26 Lyndale 33-028-24-44-0039
7628 Lyndale 33-028-24-44-0041
7630 Lyndale 33-028-24-44-0042
7632 Lyndale 33-028-24-44-0040
7634-36 Lyndale 33-028-24-44-0043
7638-40 Lyndale 33-028-24-44-0044
7642-42a Lyndale 33-028-24-44-0045
7644-44-1/2 Lyndale 33-028-24-44-0046
7601 Aldrich 33-028-24-44-0056
7609 Aldrich 33-028-24-44-0055
7615 Aldrich 33-028-24-44-0054
7621 Aldrich 33-028-24-44-0053
7627 Aldrich 33-028-24-44-0052
7633 Aldrich 33-028-24-44-0051
7639 Aldrich 33-028-24-44-0050
7601 Lyndale 34-028-24-33-0078
7609-11 Lyndale 34-028-24-33-0077
7613-27 Lyndale 34-028-24-33-0084
7629-33 Lyndale 34-028-24-33-0074
7645 Lyndale 34-028-24-33-0073
7600 Garfield 34-028-24-33-0065
7608 Garfield 34-028-24-33-0066
7614 Garfield 34-028-24-33-0067
7620 Garfield 34-028-24-33-0068
7626 Garfield 34-028-24-33-0069
7632 Gafield 34-028-24-33-0070
7638 Garfield 34-028-24-33-0071
7639 Garfield 34-028-24-33-0058
7633 Garfield 34-028-24-33-0059
7627 Garfield 34-028-24-33-0060
7621 Garfield 34-028-24-33-0061
7615 Garfield 34-028-24-33-0062
7609 Garfield 34-028-24-33-0063
7601 Garfield 34-028-24-33-0064
•
TIF District Overview
MAPS OF THE RICHFIELD REDEVELOPMENT PROJECT AREA AND THE INTERCHANGE
WEST AND LYNDALE GATEWAY TAX INCREMENT FINANCING DISTRICT
•
Page 9
oaez
HSIONtl1S
ONZZ
JS LZ
H1AZ
H16L
W
a
U
a
Z
G
O
W
W
NW
I.I
0
W
LL
V
i,
~ ~ ~ ~ ~ ~ ~ ~
~ ~ ~~J~ ~ ~
11
°n n ~" ~' n n n ~ n
HLSL ~C~C~C~~~--~L
H1YL r-~~~~~-I~C
Hl£L~ u~~~C~C~C
H1ZL u u
H14L
HlOI
lOnl3 ~ Q ~[~~C
ootlolHO ~ ~[~C~C
snewmoo O ~~~
H21tld
ONtl'01VO
'3AdON`dllaod ] ~ ~C~C
"q~ ~~ ~~C
No as ~ ~~ ~~
ONZ ~U D~C
SN3A31S L-1
3AVJ3llOO1N ~ ^ ~~~~
113OS1tl'18
HlaOM1N3M ^[~ ~C
.tanas-nld
1NdStl3ld ~0 n C~C~BC
aNtla~
131aatlH aBBC
a~aldzroo D ~~[
'3Atl 3ltlONAI
HOfaOltl ~ ^
1NVAa8
Xddl~
1NOdnO
NOSa3w3 ~0
.wowaad ____~r~
aatlal~ E~E~E~E~C~Q
lmoewnH DOD~D~E
~Nlnal E~C~C~ D[
s3wtlr 00~~~~
xoNN ~ ~C~ -~C~ QOL
N ~~J ow ~ E~ooo~' C~~
ooooa~o~
NO1M3N ~ ~0~~ PC~E
'3AtlNN3nd ~ ~C~~B~E
Nino ~
iiessna ~~ ~~E
NtlOla3HS
S"d ~"n ~ OCR E~E~E
_ ~ 0~ E~E~E
NanestlM 3 ~O E~E~E
~ ~ ~ ~ ~ ~ ~ ~
~ ~ ~ ~ ~ ~
~~~~~ ~
~~~Z
~~~~~ ~'
~C~~`
~ ~ ~ ~~
~ ~ ~~
'3Atl atlO3O
H18L
~ H1LL
H19L
= NOl'JNIWOOlB
H1SL
H1YL
- Hl£L
- H1ZL
HILL
H10L
lOfn3
_ O~JtlOIHO
snawmoo
~latld
ON'dlNtlO
'3AV ONVIlaOd
~ H1S
H14
NO1NnO
aas
ONZ
SN3A31S
1SL
3Atl 13llOOIN
/ l'13OSN'78
I H1aoMU~M
Aanasnld
aNtlao
131aatlH
a~l~atlo
'3Atl 3ltlONAI
I-glaOltl
1Ntl~ae
Xtl31OO
1NOdnO
NO6a3w3
1NOVV3ad
aatlal~
lmoewnH
oNlnai
sawvr
xoN~
rroooi
NtlJaOW
NO1Ml3N
a3nno
3Atl NN3d
N33no
i-13ssna
NtlOla3HS
SVWOHl
Nolan
lr>3oNln
Nan9StlM
3Atl 53Xa3X
z
~-
W
Z
C ~
'S -a
~ N
~ ~~
~ ~
.Q ~
(Q t~
O ~
.~ ~
N ~
C C
O O
~ ~
-a -v
a~ a~
U U_
:~: ~
~ •
~ •
• •
• •
~ •
i.:
m
li
0
0
°v
0
0
O
0
O
N
a
0
O
r
o~
O
a
0
s~ ~a
aaEz
HSgM/lS
ONZZ
1SLZ
HlOZ
Z H16L
Q MOll3j~JNOI-
r
~ ` _
( '3htl aVd30
H18L
~
U ~ H1LL
~ H H1SL
Iw
F {/, NOl~JNIWOOIB
H18L
~
~
Q ~ Q H1VL
(L Q ~
/ \
Hl£L~
H1ZL
w
LQVZ ~
HlOL~
Z V lom3 ~
`z
V
~ O~JVJIHO
SnSW
~
W Xatld
O Q Z ONtlUltl0
'3htlaNtlllaod
r H19~
H14
,i.
7.. NOlNn0
~
Z (V aaE
~
W ~
~ SN3A31S
1Sl
~//
q
W I.f~ '3AV 1311001N
a a/ (~ llaaSma
O r' Z H1210M1N3M
J ,~+ ~ AanBSllld
W ~ ~( J.NVStl3ld
/Q~ aN0'a~J
W ~ ~ lalaatlH
AI
W ~ ~
L a '3htl3lVON
HORIOIV
''rAA 1NVA218
vI
W W XVdl00
1NOd
~ na
W
Q 1NOW3ad
V„ W (' aaval~
Z
V ~ W 1A109WnH
'JNU1al
_ ~ J
~=o S3Wt/f
XONN
NtKJO,~
Z NtlcJaOW
NolM3N
W
/ aanno
~ 3Atl NN3d
Z N33nb
~l3ssna
+
Nvola~-IS ~ f
StlWOHl
Notdn
1Naolvln ~ ~
Nan85VM
3AV S3Xa3X ~~
rn
Z
~
~ ~ ~ ~
~ w
J z
J ~
.,~ 7
~ vri °z °~ rx- F x x rx-
~~
h N
x x
C
O
'3Atl a1f430 tp
HlBI ~ ~
~
H1LL ~- M
H18L ~ ~>
= NOl~JNIWOOl9 O
Hl4t ~ ~ U U
H14L
~
~
~
- HlEL _
N ~"'
~
H1Zt ~ -a 0 0
H1Ll C C ~
~
HloL ~ 0 C
~
lonla ~ .~ ~ 'v
- OJVJIH~ t6 to Rf
Sn8Wnl00
~
~
C t3
C
Xatld Q Q V" lL
ONtlDltlO V U C ~
'3htlaNVllaOd ~ ~ ~ c
Hl4 d
~ d N N
Hl4 r .... V V
NO1Nn0 C C C C
aaE ~ ~ X X
~
sN~ls ~ ° ~
1SL > > ~ t6
'3AV 1311O0IN ~ ~ ~
~
llaaSrola a~ ~ m v
Hla(MA1N3M ~ ~ ~ C7
AanBSllld ~ ~ C
~
1NtlS1/3ld ~ V
~= L 1~
aNVaJ V (~j ~ C
~ ~ ~ J
a13~
'3hV3lWNAl~• ~
~ •~~~~~~
• •~
H~MOItl ~ ~
rN`
~ ~
1NVAa9. • .u
XVdl00 :.. iii •~i
1NOana
NOSa3W3
1NOW321d
QaVa1J _
0)
N
1O106WnH LL
'JNIAaI O
S3WVI' O
0
~ XOMI ~
NtFJOI O
NVJaOW p
~ NO1M3N (h
~ a3nno O
3Atl NN3d O
N33n0 N
-n3ssna O
NtlOR13HS °
0
SVWOLIl ~
NOldn
1N~NJIh O
NanBSdM
3Atl S3Xa3X 0
0
O
\
r
N ~ N y ~ y y y J N N~ 4! ~ h N frq
~ 4 x x x x x = x~ ~ O O x x x
z rc r r r r r iii z ~ r r
0 o x x = _ _ _ ~
z
aasz w
HSIQNVIS Z
7
aNZZ ~ ~ ~ ~ ~ ~ ~ ~ v~i ~
1SLl F ~ z ~ ~ x x x ~
H10Z ~ ~ n ~ ~ n ~ ~ ~ ~
H16L /
MOll3~'JNOI
3nVaV030 ~~o ~~ '3nV2M030
H18L ~0~ ~~~0~~~~~ H19L ~
U HILL 00 ~OOI~D ~~~00 H11L y
~~// H19L ~a~O~O~ ~~-Ja~r~-~ H19L ]
~JOlJNIWOOlB ~~~~~uu~~~~ i~~u NOl'JNIWOOIB ~
11~'/~-^~ HJSL ~C~~~~ OC~ ~LJ~~ H1SL ~ .-.
V• H1bL ~~~~~~~~~~~ H1bL U
Q oo~~ooor---~oo~o aoo •L
Q Hl£L~ 00~~oDO~~ao~0 ~ HuL (~ N
~ ~ H1ZL~ ~0r--~~~ ~~~[^~ HILL ~ ~
Q Z H1AL~ I~~~^0~~~00 HlOL ~ +~
~ lOfll3~ Q OC~00 ~~~~~~ loma -Q •~
~ C
V U O~JtlOIHO~ 000~~000 OJVOIHO c
Z snewmoo p ~0~0~~~~000 snawmoo
W ravel ~CIO~~0000 Nava Q~
~ Q aNV-MVO ~ ODC~OO~C~O~~ aNrlHVO ~ c
OC~~OL~~~O~ anvaN~nlaod •o °~
O ~AV ON`dll H1~S ] ~ ~~ ~ ~0~ Q ~ HJS d N
~i. ~ HlY ~ ~ ~00~~~~0~ NO1NIl0 ""' V
~ Z No aas ~ DD OODC~00~00 ~ aas E cXa
Z W ONZ 7 ~ D 0~~~00~ ONL ~ H
W ~ sN~ts O0 ~~C~~B~DO sN~ls ~, N
o~ o~eoooo D 1SL
W AV13llOOIN ~ O~ ~~~~0~O~0 3AV13llOOIN ~
Q ~ ^ 0~ ~0~~ 1130SN'18 N N
O "L ~ 1 "I~OSMB ~ ~~ ~0~~0 ~ H1210MLN3M ~ C
J Q Z HlAanasnidn ^~ ~0 a 0~0~~ O ~anasnld m~
.wvsva,a ~ 00 ^^^^0~ ~ 1NVSVa,d ~ `
aNVa~ ~~ ~ ~~~O~E~ _ D ~ oNVao ~
a~~0 ~ 131aavH ~
Q ~"' a 31~2NJ °°D C~BBD D a~~avo ~ •~
W H~anv~doNAi D ~~a®~~~~~ ~ anvs-IVaNxi : i
Holao-ro • .
Holamv ~ ~ ~
~ W ^ a000~ 1NV~ae
Q ~ rotl~~ ~ ~ a~00~ tNOdna :.:
W W N ~~ ~' f_'~Q ~~~~ NOSa3W3
~Q ~lJOW3a~
rn 1NOYY3a~ Q~Q QaVa1~J ~
V 421Va1~J O(~Lr~-~--IIC~r7~ QO~~ 10109WnH m
Z Z 1Q70®WnH O~~J~~ u.
V Q ~Nlnal ~DOC~~O~C~o oNlnal
= s3uuvr ~ 00~~00~~ sartvr o
xoNH ~ ~OC~C] Q~O~~ xoNH `r
~ Ny~a~oW ~ ~G~OC~D~O~O-II-~--~0 ~ N miaow, °o
W ~ ~^~~~~I ~0~~0 N01M3N M
Na3nll0 7~ ~~"'"~O~J °U~~~ ~ a3An0
Z 'antlNN3d ~ ~~~~~~~~ andNN3d ~
Nino ~
inssna ~ r-- ~ ~~~ ~ ~~ssna `V
~~~ ~ NdOla3HS ~
Ntl41a3HS ~ SHWOHl O
sNOldn ~ C~a ~~~^ ODD No.L~ln `_
1N~ONIA ~ ~~ ~~~~ ~~ J q 1N30NIn C
NanBStlM NanBStlM
3AV S3X2f3)C ~ ~ O ^ r--~~\ 3nV S3Xa3X
~ nl-~~~1 I d
0
0 o x x x x x x Lr'' ~ sr" o o x x x x x ~
oasz
HSIONYlS
ONZZ
1sLz
HlOZ
H16L
MOll3dJNOl
'3AY aY030
H18L
V H1.LL
_ H18L
~NOlJNIWOOl9
H1SL
H14L
Q Q HlEL
W r n H1ZL
V H10L
Q Z lOnl3
L~ j , OJYOIHO
V v snewmoo
W Q )IaYd
~ aNYI>roo
O ~AY ONYIlaOd
H1S
^ LL H14
t.1. r NOlNll0
~, Z aas
Z UJ ONZ
W ~ SN3A31S
1SL
/W/3AY 13T1001N
~, Q'`~+ 1134SM8
Z U H1aOM1N3M
O Q Z AanHSllld
W .wYSY3ld
` ~ ONYaJ
/~ 131aaYH
Q ~ O131~aY~J
W ~ '3AY 3lYON.II
~ FalamY
,'j~,i 1NYAa8
Q XY3100
~ W ~odna
W ~ Nosa3w3
Q 1NOw3ad
~ ~ oaYalo
= imoewnH
t 1 W ~JNIA211
J s3wvr
Q xoNN
\` M/°JOl
Z NYJaow
N01M3N
~ a3nno
'3AY NN3d
N33no
ll3ssna
NYORi3HS
SYWOHI
N01dn
11•HONIA
NanBSYM
3AY S3xa3X
~ ~ ~ ~ ~ ~ ~ ~
0 o x x x x x x rn
w
Z
n n ~ ~ n n n ~ n
~~
'3AY aY030
H18L
HILL
H194
NOl'JNIWOOlB ~
H1SL (A
H14L ~
Hl£L L'•
H1ZL N
~
H1LL U
•
~' L
H10 L N
lOfll3 ~
O~JYOIHO ~ ~
snawmoo 0 0
•
NaYd ~ U
c
ONYI>IYO ~ co
'3AY ONYIlaOd L ~
Q LL
HJ.4 ..,
H14 U
N ~
NOlNn0 •O
aas d L
ONZ ~ C
SN3A31S ~
Q ~
1SL
'3AY 13llOOIN O ~
1130SIY18 ~ ~
HlaOM1N3M ~
AanBSllld ~
LJb'SY3ld ~
ONYa~J ~ ~
131aaYH ~ ~
Ol31jaYJ -C C
'3AY 3lYONAI ~ J
HolaalY
i ~ ~~
1NVAa8
XY3100 •
~ •
1NOdna ~
NOSa3W3 •~i
~vow3ad
aaYalo
lmoewnH ~
oNlnal ~
s3wvr °
xoN~l °
0
NYOOI d'
NY~aow ~,
NOlAh3N °
O
a3nno r`'
'3AY NN3d °
N33no °
0
ll3ssna N
NYOIa3HS p
SYWOHl °
O
NOldn ~
1N30NIA
NanBSYM O
3AY S3Xa3X
O
O
O
r
t~t--
~ O 2 Z 2 2 S S =~ W~ Z ~ F = S 2~
•
As of May 12, 1999
Draft for Fiscal Implication Correspondence
MODIFICATION TO THE REDEVELOPMENT PLAN
for the
THE RICHFIELD REDEVELOPMENT PROJECT AREA
J
•
RICHFIELD HOUSING AND REDEVELOPMENT AUTHORITY
CITY OF RICHFIELD
HENNEPIN COUNTY
STATE OF MINNESOTA
Public Hearing: June 14, 1999
Adopted:
Prepared by:
EHLERS & ASSOCIATES, INC.
- 3060 Centre Pointe Drive
Roseville, Minnesota 55113-1105
Phone: (651) 697-8500
Fax: (651) 697-8555
E-mail: info@ehlers-inc.com
Web Site: www.ehlers-inc.com
TABLE OF CONTENTS
(for reference purposes only)
SECTION I - MODIFICATION TO THE REDEVELOPMENT PLAN FOR
THE RICHFIELD REDEVELOPMENT PROJECT AREA ................................ I - I
Foreword ............ ................................... .................1-I
Subsection B. Statement of Public Purpose ...........:...................... .. I-1
Subsection F. Boundaries of the Richfield Redevelopment Project Area .............. I -1
Subsection G. Parcels for Acquisition .......................................... 1-1
Subsection J. Development Activities in the Richfield Project Area ................. 1-2
APPENDIX A -BOUNDARY MAPS OF THE RICHFIELD REDEVELOPMENT PROJECT
AREA ..................................................................... A-1
r
SECTION I
MODIFICATION TO THE REDEVELOPMENT PLAN FOR
THE RICHFIELD RED~T~ELOPMENT PROJECT AREA
Foreword
The following text represents a Modification to the Redevelopment Plan for the Richfield Redevelopment
Project Area. This .modification represents a continuation of the goals and objectives set forth in the
Redevelopment Plan for the Richfield Redevelopment Project Area. Generally, the substantive changes
include expanding the boundaries of the Richfield Redevelopment Project Area; clarifying parcels to be
acquired by the Housing and Redevelopment Authority and the City of Richfield; and modifying the
Redevelopment Plan for the Richfield Redevelopment Project Area to include the establishment of the
Interchange West and Lyndale Gateway. Tax Increment Financing District.
For further information, a review of the Redevelopment Plan for the Richfield Redevelopment Project Area,
adopted June 14, 1993, is recommended. It is available in the Community Development Department at the
City of Richfield. Other relevant information is contained in the Tax Increment Financing Plans for the Tax
Increment Financing Districts located within the Richfield Redevelopment Project Area.
Subsection B. Statement of Public Purpose
See also the State of Public purpose found in Section. B of the Redevelopment Plan for the. Richfield
Redevelopment Project Area, dated June 14,1993.
Subsection F. Boundaries of the Richfield Redevelopment Project Area
The boundary for the Richfield Redevelopment Project Area is being expanded to confrom with current
redevelopment plan areas and to include the area in the Interchange West and Lyndale Gateway Tax
IncrementFinancing District. See Appendix A ofthis Modification to the Redevelopment Program for the
Richfield Redevelopment Project Area and the District.
Subsection G. Parcels for Acquisition
The Housing and Redevelopment Authority may acquire the parcels listed in the Tax IncrementFinancing
Plan for the Interchange West and Lyndale Gateway Tax Increment Financing District. However, it is
anticipated that the developers will be responsible for acquisition related to the Interchange West and
Lyndale Gateway Tax Increment Financing District.
City of Richfield Modification to the Redevelopment Plan for the Richfield Redevelopment Project Area
In addition, the following parcels have been designated for acquisition:
•
•
Parcel number
26-028-23-32-0033
26-028-23-31-0046
34-028-23-34-0067
34-028-24-34-0070
34-028-34-34-0049
34-028-34-34-0068
34-028-34-34-0052
28-028-24-33-0069
28-028-24-33-0068
28-028-24-33-0067
28-028-24-33-0066
28-028-24-33-0065
28-028-24-33-0064
28-028-24-33-0063
Use
Housing
Retail space
Housing
Mortuary
Housing
Housing
City Garage
Housing and storm water retention
Housing and storm water retention
Housing and storm water retention
Housing and storm water retention
Housing and storm water retention
Housing and-storm water retention
Housing and storm water retention
Subsection J. Development Activities in the Richfield Project Area
The Redevelopment Plan for the Richfield Redevelopment Project Area is hereby modified to include
redevelopment and development activities to facilitate the construction of the following projects:
a.
b.
c.
d.
e.
f.
Motel Conference
Office buildings
Retail Facilities
Apartments
Town homes
Senior housing
• City of Richfield Modification to the Redevelopment Plan for the Richfield Redevelopment Project Area
1-2
APPENDIX A
• BOUNDARY MAPS OF THE MODIFIED RICHFIELD REDEVELOPMENT PROJECT AREA
City of Richfield Modification to the Redevelopment Plan for the Richfield Redevelopment Project Area A-1