11-1101r HRA RESOLUTION NO. 1101
RESOLUTION ADOPTING A MODIFICATION TO THE REDEVELOPMENT PLAN
FOR THE RICHFIELD REDEVELOPMENT PROJECT AREA AND ADOPTING AN
AMENDED AND RESTATED TAX INCREMENT FINANCING PLAN FOR THE
2010-1 HOUSING TAX INCREMENT FINANCING DISTRICT (WOODLAKE
HOUSING)
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 adopt an
Amended and Restated Tax Increment Financing Plan (the "TIF Plan") for the 2010-1 Housing Tax
Increment Financing District (Woodlake Housing) (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 Plans and that the City 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 hereby finds that the Plans, are intended and, in the judgment of this
Board, the effect of such actions will be, to provide an impetus for development in the public
purposes and accomplish certain objectives as specified in the Plans, which are hereby
incorporated herein.
2. The HRA also finds the 2010-1 Housing Tax Increment Financing District (Woodlake
Housing), is in the public interest and is a "housing district" under Minnesota Statutes, Section
469.174, Subd. 11 of the Act.
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
TIF Plan and in the exhibit attached to the City resolution approving the Plans, on file in City Hall.
6. Conditioned upon a review by the City's Planning Commission and a finding of the
Planning Commission that the Plans conform to the general plan for development and
redevelopment of the City and 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.
7. Upon the satisfaction of the conditions described above, 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.
8. 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.
9. 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.
Approved by the Board of Commissioners of the Richfield Housing and Redevelopment
Authority this 15th day of August, 2011.
..,1?" - e. „4,444.1
zanne M. Sandahl, Chair
ATTEST:
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J9.,n Helmberger, Secretary
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