11-1096r HRA RESOLUTION NO. 1096
RESOLUTION ADOPTING A MODIFICATION TO THE REDEVELOPMENT
PLAN FOR THE RICHFIELD REDEVELOPMENT PROJECT AREA,
ESTABLISHING THE LYNDALE GARDENS TAX INCREMENT FINANCING
DISTRICT THEREIN AND ADOPTING A TAX INCREMENT FINANCING PLAN
THEREFORE
WHEREAS, it has been proposed by the Board of Commissioners (the "Board") of the
Richfield Housing and Redevelopment Authority (the "HRA") and the City of Richfield (the
"City") that the HRA adopt a Modification to the Redevelopment Plan (the "Redevelopment Plan
Modification") for the Richfield Redevelopment Project Area (the "Project Area") and establish
the Lyndale Gardens Tax Increment Financing District (the "District") and adopt a Tax Increment
Financing Plan (the "TIF Plan") therefore (the Redevelopment Plan Modification and the TIF
Plan are referred to collectively herein as the "Plans"), all pursuant to and in conformity with
applicable law, including Minnesota Statutes, Sections 469.001 to 469.047, and Sections
469.174 to 469.1799, inclusive, as amended (the "Act"), all as reflected in the Plans and
presented for the Board's consideration; and
WHEREAS, the HRA has investigated the facts relating to the Plans and has caused the
Plans to be prepared; and
WHEREAS, the HRA has performed all actions required by law to be performed prior to
the adoption of the Plans. The HRA has also requested the City Planning Commission to
provide for review of and written comment on the Plans and that the Council schedule a public
hearing on the Plans upon published notice as required by law.
NOW, THEREFORE, BE IT RESOLVED, by the Board as follows:
1. The HRA approves the Redevelopment Plan Modification, and specifically finds
that: (a) the land within the Project Area would not be available for redevelopment and
affordable housing purpose without the financial aid to be sought under the Redevelopment
Plan; (b) the Redevelopment Plan, as modified, will afford maximum opportunity, consistent with
the needs of the City as a whole, for the development of the Project Area by private enterprise;
and (c) that the Redevelopment Plan, as modified, conforms to the general plan for the
development of the City as a whole.
2. The HRA approves the TIF Plan, and specifically finds that such district is a
"redevelopment district" under Minnesota Statutes, Section 469.174, Subd. 10a(1), and finds
that the Plans conform in all respects to the requirements of the Act and will help fulfill a need to
redevelop an area of the State of Minnesota which is blighted and that the adoption of the
proposed Plans will preserve and enhance the tax base of the City and the State because the
Plans promote redevelopment of substandard areas and provide an impetus for commercial and
housing development, and thereby serves a public purpose.
3. The HRA further finds that the Plans will afford maximum opportunity, consistent with the
sound needs for the City as a whole, for the development or redevelopment of the Project Area
by private enterprise in that the intent is to provide only that public assistance necessary to
make the private developments financially feasible.
4. The boundaries of the Project Area are not being expanded.
5. The reasons and facts supporting the findings in this resolution are described in the
Plans. The Plans are hereby incorporated into this resolution as if set forth herein, including but
not limited to the Report from LHB set forth in Exhibit F and the "But/For" findings set forth in
Exhibit G.
6. The HRA elects to calculate fiscal disparities for the District in accordance with
Minnesota Statutes, Section 469.177, Subd. 3, clause b, which means the fiscal disparities
contribution would be taken from inside the District.
7. Conditioned upon the approval thereof by the City Council following its public hearing
thereon, the Plans, as presented to the HRA on this date, are hereby approved, established and
adopted and shall be placed on file in the office of the Community Development Director.
8. Upon approval of the Plans by the City Council, the staff, the HRA's advisors and legal
counsel are authorized and directed to proceed with the implementation of the Plans and for this
purpose to negotiate, draft, prepare and present to this Board for its consideration all further
plans, resolutions, documents and contracts necessary for this purpose. Approval of the Plans
does not constitute approval of any project or a Development Agreement with any developer.
9. Upon approval of the Plans by the City Council, the Community Development Director is
authorized and directed to forward a copy of the Plans to the Minnesota Department of Revenue
and the Office of the State Auditor pursuant to Minnesota Statutes 469.175, Subd. 4a.
10. The Community Development Director is authorized and directed to forward a copy of
the Plans to the Hennepin County Auditor and request that the Auditor certify the original tax
capacity of the District as described in the Plans, all in accordance with Minnesota Statutes
469.177.
Adopted by the Housing and Redevelopment Authority in and for the City of Richfield,
Minnesota this 25th day of July, 2011
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Suzanne M. Sandhal, Chair
ATTEST:
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Joan Helmberger, Secretary