111725 Resolution No. 1519 Decertify EMI TIFHRA RESOLUTION NO. 1519
RESOLUTION APPROVING THE DECERTIFICATION OF
TAX INCREMENT FINANCING DISTRICT NO. 2020-2: EMI
WHEREAS, on January 26, 2021, the City of Richfield (the "City") created its Tax
Increment Financing District No. 2020-2: Emi ("District No. 2020-2") within its Richfield
Redevelopment Project Area (the "Project"); and
WHEREAS, as of December 31, 2025, all bonds and obligations to which tax
increment from District No. 2020-2 have been pledged have been paid in full or defeased
and all other costs of the Project have been paid; and
WHEREAS, the Richfield Housing and Redevelopment Authority (the "HRA")
desires by this resolution to cause the decertification of District No. 2020-2 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 Board of Commissioners of the
HRA that the Community Development Director shall take such action as is necessary to
cause the County Auditor of Hennepin County to decertify District No. 2020-2 as a tax
increment district and to no longer remit tax increment from the District No. 2020-2 to the
City.
DATED: November 17, 2025 l 1 L
Erin Vrieze Daniels, Chair
ATTEST:
a
Sean Hayford O eary, Secre ary