111725 Resolution No. 1520 Decertify Urban Village TIFHRA RESOLUTION NO. 1520
RESOLUTION APPROVING THE DECERTIFICATION OF
THE URBAN VILLAGE TAX INCREMENT FINANCING
DISTRICT
WHEREAS, on February 17, 1999, the City of Richfield (the "City") created its
Urban Village Tax Increment Financing District ("Urban Village 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 Urban Village 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 Richfield Housing and Redevelopment Authority (the "HRA")
desires by this resolution to cause the decertification of the Urban Village 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 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 the Urban Village TIF District
as a tax increment district and to no longer remit tax increment from the Urban Village
TIF District to the City.
DATED: November 17, 2025
Erin Vrieze Dani , Chair
ATTEST:
/�, � Z, X�,
Sean Hayford Oleary, Secretary