82-3033 l l'l Y ur nurr u'
Hennepin County, Minnesota
RESOLUTION NO. 82-3033
GIVING PRELIMINARY APPROVAL TO THE
ISSUANCE OF REVENUE BONDS UNDER MINNESOTA
STATUTES, CHAPTER 462C (THE "ACT"), AND
AUTHORIZING THE PREPARATION OF A HOUSING
PLAN AND HOUSING PROGRAM AND/OR
AMENDMENTS THERETO PURSUANT TO THE ACT
WHEREAS, pursuant to Minnesota StatutesChapter 462C (the "Act"), the
City Council of the City of Hopkins (the "City" is authorized to adopt a housing
plan and carry out housing programs for the financing of multi-family housing
projects for persons of low and moderate income; and
WHEREAS, a proposal to finance a multi-family housing project (the
"Project") located on a portion of Lot 76, Auditor's Subdivision Number 239, in
Hennepin County has been presented to this City Council by West Side Village II, a
Minnesota general partnership; Mark Z. Jones II, a general partner of West Side
Village II; The Luther Company Limited Partnership, a Minnesota limited
partnership and general partner of West Side Village II; and Rudy Luther, a general
partner of The Luther Company Limited Partnership; and
WHEREAS, the participation of the City in the housing program to finance
the Project would result in the addition of new units of low and moderate income
• housing to the City;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY THAT:
1. The issuance of revenue bonds under the Act in an amount not in
excess of $2,900,000to finance the construction and permanent financing of the
Project is hereby given preliminary approval.
2. The preparation of a housing plan (the "Plan") and/or an amendment
to an existing Plan and the preparation of a housing program with respect to the
Project are hereby authorized. The staff of the City is hereby authorized to assist
in the preparation of the Plan or amendment to the Plan, and the preparation of
the housing program.
Passed and adopted by the Council of the City of Hopkins, Minnesota
at a regular meeting held the 2nd day of November 1982 7 /
J. SCOTT RE rr
City Clerk ROBERT F. MILLER
Mayor
JOSEPH C. VESELY
City Clerk
APPLICATION
HOPKINS, MINNESOTA
COMMERCIAL REHABILITATION LOAN PROGRAM
• A. GENERAL AND BACKGROUND INFORMATION
1. Name of Business Requesting Low Interest Rehabilitation Loan:
nei ' / /, t Nva;ori
Hopkins Address: /Vie b �� / F � ( r
Telephone Number: 3 ) f`5 C,
2. Name of Person Completing Application: /21 a4-6(a/F 1, /j i J/f
Address: 4 h)(4)
Title: Or -. rA,k )r r Phone No. (home) �v - U y 0
Phone No. (business)
3. This loan subsidy is being requested for the following general purpose
(check one) :
( ) a) For a new business start-up in downtown area.
( ) b) To provide funds for the expansion of an existing
downtown business.
(�) c) To provide funds to renovate an existing downtown
business.
4. The rehabilitation will:
(x) a) Include front and rear facades.
( ) b) Not include front and rear facades because they
were renovated within last 15 years.
( ) c) Involve interior work only.
5. Name of Downtown Building Owner (If other than applicant) :
(611
(%_ 1C.•'?1f' i _ � (f, a t)��� r 7 'th Iii
S _ //c.
Address: 7C _ // /if c 7/it)
'.-2,2? / lc /1
Telephone Number: � � �1�/, /
6. If applicant is leasing the building, indicate expiration date of
current lease agreement:
a
2. Indicate below how the proceeds of the rehabilitation loans would
be utilized, by major categories.
Expense Category Approximate Amount
i �u.-1 et-�� - j 2 4 y f• �G•✓,C,- ?",'0. 0U
'kW /i'roki i}%�( •-IYEw F-r0)14- ill I rid Ott/5 9 3c , . 00 Mee / (hoc/F. -tov
I )0d i is J' 9 , 0
Pu ✓ 1 d , / �J/•� a v
A(Fil ) 'foo( WI �ti CYISItiail e>•z, /0/ 0 0 , 0 c,
NPw Pl °- 1' 6ortcit/ // v�-6 o . 0 0
I E(,U ko e Kr C{ aF, 1 (a /��, 5 C J CJ , 0 n
Total (must e at least l#e
i> the 13.1. (f) amount ove) . ,) 4V/ 6-77-0 . 0 0
\\V . i eu,` Wai1 o1Jer; Ioor;i2 Wall lal'�i ictitc 41 0 0
3. Mortgage or Cont a t for Deed: 474 �-e'rio ►' )� I
,UI 1 Principal balance (attach copy of most recent statement /)7 1 (/ti Ipc, t'
`1 i Mortgagee (Bank) or CD Holder re(ler cz
(0-
ily-) Other liens Om
• 4. Building Insurance: Company & Policy Number /9/ r-1
0:j/iC oo s
,� LL
Amount of coverage/7j b f p/L(.C, �/l 1Q.-c) 4t--6 /..,--) l�•.5
6 r;c cr it l«),, 5 1:10...17, 1,-Vii i •
C. EXPECTED BENEFITS/RESULTS Jf
1. Briefly explain how the proposed new business or expansion will im-
prove the "economic mix" and generally benefit the Hopkins downtown
business district. P-c:C< d.t, -Ct 1-Y1 1 //1 C -1
r I e n e CI
•
2. Indicate number of new jobs to be added to the Downtown Business
District: le
1111 a) Within six months of opening or expansion C{41q fell if_((r12,'
b) Within two - four years ., /1
3. Indicate number of Existing Jobs to be Retained in the Downtown
Business District as a result of the loan and interest subsidy
(if appropriate) 31
7. Describe the nature of the businesses in the building, including
types of products and/or servicesto be offered (or retained) __
downtown: 1 . Slit)
11.C�.�1[ SCS. c}Y h 1 UC'P 11(Cl 1) 5 _L E �( [%(inG
u-r- )
8. Indicate approximate date of opening of rew or renovated business
in downtown area:lI0 2 c c c.' <'a -T' ' d
1 Ar Fe b i o �3 Sid��w7) f3
9. Does applicant have previous experience in this type of business?
If yes, indicate nature of such experience:
10. Is this building under orders from any public agency to make cor-
rections to meet code? Yes ( ) No (X) .
If yes, please specify:
111 B. FINANCIAL INFORMATION
1. Applicant must attach copy of letter of commitment from a lender
for at least 50% of the permanent fixed improvements.
a) Amount of loan from lender $ 000 . 00
b) Term of loan: [ years.
c) Interest Rate �.ki'erlo✓f p 'y below, Pr(fiie %
11.4-Orl U r ,'e I -i 47 c
d) Name and Address of lender:
k:
e) Contact Person at lending institution:
r1 ,,, I I 4?/06
Name: ( u,oe v a-r�Q►� Phone No: y 3 3 —
f) Amount of Hopkins Commercial Rehabilitation Loan sought:
4. Is the applicant willing to join the Hopkins Bettermeri,t Association
and to conform with their hours of operation? Yes ( ) No ( )
5. Is the applicant a member of the City Center Development Corporation?
411 Yes No ( )
I hereby affirm that all information above is true and accurate to the
best of my knowledge. I have read and agree to abide by the Loan Regu-
lations.
Signature qr
�p��(� � �.
FOR OFFICE USE ONLY,
11, 1. Application received
2. Application reviewed for eligibility
3. Initial inspection by city's inspectors & structural
engineer
4. Initial scope of work drawn up
5. Initial scope reviewed by owner
6. Final scope formulated
7. Final scope out for bids
8. Bids received
9. Loan contracts signed
10. Work begins
Amended Loan Amount
CITY OF HOPKINS
Hennepin County, Minnesota
RESOLUTION NO. 82-3033
GIVING PRELIMINARY APPROVAL TO THE
ISSUANCE OF REVENUE BONDS UNDER MINNESOTA
STATUTES, CHAPTER 462C (THE "ACT"), AND
AUTHORIZING THE PREPARATION OF A HOUSING
PLAN AND HOUSING PROGRAM AND/OR
AMENDMENTS THERETO PURSUANT TO THE ACT
WHEREAS, pursuant to Minnesota StatutesChapter 462C (the "Act"), the
it
City Council of the City of Hopkins (the "Cy" is authorized to adopt a housing
plan and carry out housing programs for the financing of multi-family housing
projects for persons of low and moderate income; and
WHEREAS, a proposal to finance a multi-family housing project (the
"Project") located on a portion of Lot 76, Auditor's Subdivision Number 239, in
Hennepin County has been presented to this City Council by West Side Village II, a
Minnesota general partnership; Mark Z. Jones II, a general partner of West Side
Village II; The Luther Company Limited Partnership, a Minnesota limited
partnership and general partner of West Side Village II; and Rudy Luther, a general
partner of The Luther Company Limited Partnership; and
WHEREAS, the participation of the City in the housing program to finance
the Project would result in the addition of new units of low and moderate income
housing to the City;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY THAT:
1. The issuance of revenue bonds under the Act in an amount not in
excess of $2,900,000to finance the construction and permanent financing of the
Project is hereby given preliminary approval.
2. The preparation of a housing plan (the "Plan") and/or an amendment
to an existing Plan and the preparation of a housing program with respect to the
Project are hereby authorized. The staff of the City is hereby authorized to assist
in the preparation of the Plan or amendment to the Plan, and the preparation of
the housing program.
Passed and adopted by the Council of the City of Hopkins, Minnesota
at a regular meeting held the 2nd day of November 1982
J. SCOTT RENNE
City Clerk ROBERT F. MILLER
Mayor
•
JOSEPH C. VESELY
City Clerk
CITY OF HOPKINS
Hennepin County, Minnesota
RESOLUTION NO. 82-3033
GIVING PRELIMINARY APPROVAL TO THE
ISSUANCE OF REVENUE BONDS UNDER MINNESOTA
STATUTES, CHAPTER 462C (THE "ACT"), AND
AUTHORIZING THE PREPARATION OF A HOUSING
PLAN AND HOUSING PROGRAM AND/OR
AMENDMENTS THERETO PURSUANT TO THE ACT
WHEREAS, pursuant to Minnesota Statutes, Chapter 462C (the "Act"), the
City Council of the City of Hopkins (the "City") is authorized to adopt a housing
plan and carry out housing programs for the financing of multi-family housing
projects for persons of low and moderate income; and
WHEREAS, a proposal to finance a multi-family housing project (the
"Project") located on a portion of Lot 76, Auditor's Subdivision Number 239, in
Hennepin County has been presented to this City Council by West Side Village II, a
Minnesota general partnership; Mark Z. Jones II, a general partner of West Side
Village II; The Luther Company Limited Partnership, a Minnesota limited
partnership and general partner of West Side Village II; and Rudy Luther, a general
partner of The Luther Company Limited Partnership; and
WHEREAS, the participation of the City in the housing program to finance
the Project would result in the addition of new units of low and moderate income
• housing to the City;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY THAT:
1. The issuance of revenue bonds under the Act in an amount not in
excess of $2,900,000to finance the construction and permanent financing of the
Project is hereby given preliminary approval.
2. The preparation of a housing plan (the "Plan") and/or an amendment
to an existing Plan and the preparation of a housing program with respect to the
Project are hereby authorized. The staff of the City is hereby authorized to assist
in the preparation of the Plan or amendment to the Plan, and the preparation of
the housing program.
Passed and adopted by the Council of the City of Hopkins, Minnesota
at a regular meeting held the 2nd day of November 1982
SCOAt
J. SCOTT RENNE t
City Clerk ROBERT F. MILLER
Mayor
JOSEPH C. VESELY
City Clerk