10-1085rHRA RESOLUTION NO. 1085
RESOLUTION APPROVING THE DECERTIFICATION OF THE
RICHFIELD REDISCOVERED A-1, B-1, A-2, B-2, A-3, B-3, A-4, B-4, A-
5, B-5 AND RICHFIELD REDISCOVERED II TAX INCREMENT
DISTRICTS OF THE RICHFIELD HOUSING AND REDEVELOPMENT
AUTHORITY
WHEREAS, on various dates the Richfield Housing and Redevelopment Authority (the
"HRA") created it's Richfield Rediscovered A-1, B-1, A-2, B-2, A-3, B-3, A-4, B-4, A-5, B-5 and
Richfield Rediscovered II Tax Increment Financing Districts (the "Richfield Rediscovered TIF
Districts") within its Richfield Redevelopment Project Area (the "Project"); and
WHEREAS, as of December 30, 2010, hereof all bonds and obligations to which the
Richfield Rediscovered TIF Districts have been pledged, have been paid in full or defeased and
all other costs of the Project have been paid; and
WHEREAS, the HRA desires by this resolution to cause the decertification of the
Richfield Rediscovered TIF Districts 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 HRA of the City of Richfield that the
HRA's staff shall take such action as is necessary to cause the County Auditor of Hennepin
County to decertify the Richfield Rediscovered TIF Districts as a tax increment districts and to
no longer remit tax increments from the district to the HRA contingent on the defeasance of the
$1,045,000 General Obligation Tax Increment Bonds, Series 200X.
Adopted by the Housing and Redevelopment Authority in and for the City of Richfield,
Minnesota on this 20th day of December, 2010.
nne Sandahl, Chair
ATTEST:
oan Helmberger, Secretary