11-10520rRESOLUTION NO. 10520
RESOLUTION CONSENTING TO THE PROCESS FOR THE CREATION OFA HOUSING
TAX INCREMENT FINANCE DISTRICT IN SUPPORT OF THE PROPOSED PILLSBURY
COMMONS MULTIFAMILY HOUSING PROJECT
WHEREAS, the City of Richfield (the "City ") is a municipal corporation and political
subdivision duly organized and existing under the Constitution and laws of the State of
Minnesota; and
WHEREAS, pursuant to the Constitution and laws of the State of Minnesota,
particularly Minnesota Statutes, Sections 469.174- 469.1799 et. seq., as amended, the
City acting through the Richfield Housing and Redevelopment Authority ( "HRA ") is
authorized to use tax increment financing to carry out the public purposes described
therein and contemplated thereby; and
WHEREAS, a proposal has been made by R.E.C., Inc. d /b /a Ron Clark
Construction and Design (the "Developer ") to construct 70 units of multifamily housing at
211 West 76th Street near Pillsbury Avenue in the City of Richfield, which project is to be
known as Pillsbury Commons and 100% of the units will be affordable to persons with
incomes at 60% of the area median income (the "Project "); and
WHEREAS, the Project would be located on land that is currently owned by the City
of Richfield; and
WHEREAS, the City on or about the date of this resolution has approved an Option
Agreement with the Developer for the sale of the land upon which the Project is intended
to be built;
WHEREAS, the Developer has submitted its development proposal to the City and
the City is supportive of continuing further consideration of the Project; and
WHEREAS, the City wishes to support the Project and directs staff to work with the
Developer to take the steps necessary to create a tax increment financing district for the
Project.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Richfield
that the City supports the Project and, pending final determination of project eligibility,
required reviews, public input, notices and hearings, and without surrendering its
legislative discretion, hereby authorizes staff to proceed with the steps required to
establish a tax increment financing district for the Project; and
BE IT FURTHER RESOLVED, that City staff, in connection with the activities
required to be undertaken by the City and the HRA, continue its analysis of the Pillsbury
Commons project, negotiate the terms and conditions of a development contract with the
Developer or an affiliate whose general partner is controlled by the Developer, and prepare
a development plan and tax increment financing plan for the Project, all subject to final
determination of project eligibility, required reviews, public input, notices and hearings; and
BE IT FURTHER RESOLVED, that the City Council supports implementation of the
attached timeline for the Project (Attachment 1):
This resolution shall be in full force and effect from and after its passage.
Passed by the City Council of the City of Richfield, Minnesota this 14th day of June
2011.
Debbie Goettel, •
ATTEST:
Nancy Gibb U ity Clerk