11-21-2022 HRA Resolution No. 1445HRA Resolution No. 1445 1
HRA RESOLUTION NO. 1445
RESOLUTION APPROVING A SPENDING PLAN FOR CERTAIN TAX
INCREMENT FINANCING DISTRICTS LOCATED IN THE CITY OF RICHFIELD
WHEREAS, the City of Richfield, Minnesota (the “City”) and the Housing and
Redevelopment Authority in and for the City of Richfield, Minnesota (the “Authority”) have
previously established the following tax increment financing districts located within the Richfield
Redevelopment Project in the City and adopted tax increment financing plans therefor, pursuant
to Minnesota Statutes, Sections 469.001 through 469.047, as amended, and Minnesota
Statutes, Sections 469.174 through 469.1794, as amended (the “TIF Act”): the Interchange
West and Lyndale Gateway Tax Increment Financing District, the Urban Village Tax Increment
Financing District, and the City Bella Tax Increment Financing District (collectively, the “TIF
Districts”); and
WHEREAS, Section 469.176, subdivision 4n of the TIF Act (the “Temporary TIF
Authority Act”) authorizes the Authority to spend available tax increment from any existing tax
increment financing district, notwithstanding any other law to the contrary, to provide
improvements, loans, interest rate subsidies, or assistance in any form to private development
consisting of construction or substantial rehabilitation of buildings and ancillary facilities, if the
following conditions exist:
(1) Such assistance will create or retain jobs in the State of Minnesota, including
construction jobs;
(2) Construction commences before December 31, 2025;
(3) The construction would not have commenced before the dates specified
above without the assistance;
(4) Tax increments under the spending plan are spent by December 31, 2025;
and
(5) The City Council of the City approves a written spending plan (after a duly
noticed public hearing) that specifically authorizes the Authority to take such
actions; and
WHEREAS, the Authority has proposed to apply available tax increments from the TIF
Districts for various uses in accordance with the Temporary TIF Authority Act, and to that end
has caused to be prepared a spending plan for the TIF Districts (the “Spending Plan”); and
WHEREAS, the assistance authorized under the Spending Plan expressly includes but
is not limited to assistance for private development that provides for job creation or development
of housing, including but not limited to market rate and affordable multifamily, townhomes, and
single-family units; and
WHEREAS, assistance authorized and provided under the Spending Plan may
constitute a business subsidy as described in Minnesota Statutes, Sections 116J.993 to
116J.995, as amended (the “Business Subsidy Act”), which will require that the Board conduct a
public hearing prior to providing such financial assistance to a developer; and
HRA Resolution No. 1445 2
WHEREAS, on December 13, 2022, the City Council of the City will conduct a public
hearing regarding the Spending Plan in accordance with the Temporary TIF Authority Act and
consider a resolution approving the Spending Plan; and
NOW, THEREFORE, BE IT RESOLVED, by the Board of Commissioners of the Housing
and Redevelopment Authority in and for the City of Richfield, Minnesota that:
1. The Spending Plan is hereby approved in substantially the form on file in City Hall.
2. The Authority makes all the findings set forth in the Spending Plan, which are
incorporated herein by reference.
3. Authority staff and consultants are hereby authorized to take actions necessary to
carry out the terms of the Spending Plan.
4. The Board shall conduct a public hearing prior to providing financial assistance to a
developer or redeveloper under the Spending Plan if in the opinion of counsel to the
Authority such assistance constitutes a business subsidy under the Business
Subsidy Act.
Adopted by the Housing and Redevelopment Authority in and for the City of Richfield,
Minnesota this 21st day of November, 2022.
Mary B. Supple, Chair
ATTEST:
Maria Regan Gonzalez, Secretary