10-1072rHRA RESOLUTION NO. 1072
RESOLUTION ADOPTING A MODIFICATION TO THE REDEVELOPMENT
PLAN FOR THE RICHFIELD REDEVELOPMENT PROJECT AREA AND THE
ESTABLISHMENT OF THE 2010-1 HOUSING TAX INCREMENT FINANCING
DISTRICT (WOODLAKE HOUSING)
WHEREAS, it has been proposed by the Board of Commissioners (the "Board") of the
Richfield Housing and Redevelopment Authority (the "HRA") and the City of Richfield (the
"City") that the HRA adopt a Modification to the Redevelopment Plan (the "Redevelopment Plan
Modification") for the Richfield Redevelopment Project Area (the "Project Area") and establish
the 2010-1 Housing Tax Increment Financing District (Woodlake Housing) and adopt the Tax
Increment Financing Plan (the "TIF Plan") (the Redevelopment Plan Modification and the TIF
Plan are referred to collectively herein as the "Plans"), all pursuant to and in conformity with
applicable law, including Minnesota Statutes, Sections 469.001 to 469.047, and Sections
469.174 to 469.1799, inclusive, as amended (the "Act"), all as reflected in the Plans and
presented for the Board'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 HRA has performed all actions required by law to be performed prior to
the adoption of the Plans. The HRA has also requested the City Planning Commission to
provide for review of and written comment on Plans and that the City Council schedule a public
hearing on the Plans upon published notice as required by law.
NOW, THEREFORE, BE IT RESOLVED:
1. The HRA hereby finds that the Plans, are intended and, in the judgment of this
Board, the effect of such actions will be, to provide an impetus for development in the public
purposes and accomplish certain objectives as specified in the Plans, which are hereby
incorporated herein;
2. The HRA also finds the 2010-1 Housing Tax Increment Financing District
(Woodlake Housing) is in the. public interest and is a "housing district" under Minnesota
Statutes, Section 469.174, Subd. 11 of the Act;
3. The HRA further finds that the Plans will afford maximum opportunity, consistent
with the sound needs for the City as a whole, for the development or redevelopment of the
Project Area by private enterprise in that the intent is to provide only that public assistance
necessary to make the private developments financially feasible;
4. The boundaries of the Project Area are not being expanded;
5. The reasons and facts supporting the findings in this resolution are described in
the TIF Plan and in the exhibit attached to the City resolution approving the Plans, on file in City
Hall;
6. Conditioned upon a review by the City's Planning Commission and a finding of
the Planning Commission that the Plans conform to the general plan for development and
redevelopment of the City and 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 Community Development
Director;
7. Upon the satisfaction of the conditions described above, 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 this Board 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 or a Development Agreement
with any developer;
8. Upon approval of the Plans by the City Council, the Community Development
Director is authorized and directed to forward a copy of the Plans to the Minnesota Department
of Revenue and the Office of the State Auditor pursuant to Minnesota Statutes 469.175, Subd.
4a; and
9. The Community Development Director 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 District as described in the Plans, all in accordance with Minnesota
Statutes 469.177.
Approved by the Board of Commissioners of the Richfield Housing and Redevelopment
Authority this 19th day of April, 2010.
ATTEST:
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an Helmberger, Secretary
uz ne M. Sandahl, Chair