111725 Resolution No. 1518 Amended Tax Increment Spending PlanHRA RESOLUTION NO. 1518
A RESOLUTION APPROVING AN AMENDED TAX
INCREMENT SPENDING PLAN
WHEREAS, on November 21, 2022, the Housing and Redevelopment Authority in
and for the City of Richfield (the "HRA") adopted a tax increment spending plan (the
"Spending Plan") pursuant to Minnesota Statutes, section 469.176, subd 4n which
required that all funds be spent by December 31, 2025; and
WHEREAS, the Minnesota Legislature 2025, 1st Special Session amended
Minnesota Statutes, section 469.176, subd. 4n to allow tax increment authorities to
amend their spending plans to allow funds to be spent through December 31, 2026; and
WHEREAS, the HRA has determined to modify the Spending Plan to avail itself of
the 2025 statutory changes.
NOW, THEREFORE, BE IT RESOLVED, by the Board of Commissioners of the
HRA as follows:
The amended Spending Plan attached hereto as Exhibit A is hereby
adopted.
2. HRA staff and consultants are authorized and directed to take any and all
actions necessary or convenient to carry out the intent of this resolution, including filing
an executed copy of the amended Spending Plan with the Office of the State Auditor.
Dated: November 17, 2025 1
Erin Vrieze Dani Is, Chair
ATTEST:
Sean Hayford Oleary, Secre Ary