REGARDING: Housing and Redevelopment Authority of Richfield Annual Disclosure of Tax Increment Districts for the Year Ended December 31, 2016.
Note: While the amount of tax increment received and expended in a TIF district may not be equal in a given year, they become equal over the life of a project. Tax increment expenditures are made on an as-needed basis, given the fact that some projects have higher up front development cost than others. No tax increment project in Richfield has ever been allowed to expend more in tax increment financing than it ultimately receives as tax increment.
Additional information regarding each district may be obtained from: Steven L. Devich, Richfields City Manager and Executive Director of the Richfield HRA, at 6700 Portland Avenue, 612/861-9700.
Published in the
Richfield Sun Current
August 10, 2017