2025-11-25 Resolution 12374City of Richfield November 25, 2025
County of Hennepin
State of Minnesota
RESOLUTION NO. 12374
Motion by: Hayford Oleary
Seconded by: Burk
APPROVING THE DECERTIFICATION OF THE INTERCHANGE WEST AND LYNDALE
GATEWAY TAX INCREMENT FINANCING DISTRICT
WHEREAS, on June 29, 1999, the City of Richfield (the "City") created its Interchange
West and Lyndale Gateway Tax Increment Financing District (the "TIF District") within its Richfield
Redevelopment Project Area (the "Project"); and
WHEREAS, as of December 31, 2025, all bonds and obligations to which tax increment
from the TIF District have been pledged have been paid in full or defeased and all other costs of
the Project have been paid; and
WHEREAS, the City desires by this resolution to cause the decertification of the TIF
District after which all property taxes generated by property within the District will be distributed
in the same manner as all other property taxes.
NOW THEREFORE, BE IT RESOLVED, by the City Council of the City of Richfield,
Minnesota that the Community Development Director shall take such action as is necessary to
cause the County Auditor of Hennepin County to decertify the TIF District as a tax increment
district and to no longer remit tax increment from the TIF District to the City.
Adopted by the City Council of the City of Richfield, Minnesota, this 25th day of November, 2025.
VOTING AYE VOTING NAY
Supple, Mary Supple, Mary
Burk, Walter Burk, Walter
Christensen, Sharon Christensen, Sharon
Coleman-Woods, Rori Coleman-Woods, Rori
Hayford Oleary, Sean Hayford Oleary, Sean
Mary B. Supple, Mayor
ATTEST:
Michelle Friedrich, City Clerk