Redevelopment

Why Richfield Redevelops

Redevelopment attracts new businesses and allows expansion of existing businesses. Redevelopment updates City housing and gives residents the confidence to invest in their homes, schools and city infrastructure.

Redevelopment Projects

Redevelopment Summary in Richfield

Penn Avenue Corridor

Cedar Avenue Corridor

Lakes at Lyndale

494 Corridor

Green Community Concepts

Tax Increment Financing

             Tax increment financing (TIF) is a tool the City utilizes under certain circumstances to facilitate redevelopment.  TIF allows the City to retain the original tax base, while capturing the increased taxes to be used to offset the increased costs of redevelopment.

Redevelopment Plan for the Richfield Redevelopmnet Area