111725 Resolution No. 1521 Decertify IW and Lyndale Gateway TIFHRA RESOLUTION NO. 1521
RESOLUTION 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 Richfield Housing and Redevelopment Authority (the "HRA")
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 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 TIF District as a tax
increment district and to no longer remit tax increment from the TIF District to the City.
DATED: November 17, 2025
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Erin Vri a Daniels, Chair
ATTEST:
A-� W/O/
Sean Hayford Oleary, Secre