RZ93-11 �~ CITY OF HOPKINS
Hennepin County, Minnesota
RESOLUTION NO: RZ93-11
RESOLUTION FINDING THE AMENDED REDEVELOPMENT PLAN FOR
REDEVELOPMENT AREA NO. 2 AND THE TAX INCREMENT
FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 2 . 7
CONSISTENT WITH THE PLAN FOR DEVELOPMENT OF
THE CITY OF HOPKINS
(THERMOTEC INC. TIF EXPANSION)
WHEREAS, the City of Hopkins is in the process of preparing an
Amended Redevelopment Plan for Redevelopment Area No. 2 and a Tax
Increment Financing Plan for Tax Increment Financing No. 2 . 7 and the
Amended Redevelopment Plan and TIF Plan, and
WHEREAS, such plan is proposing to utilize tax increments
generated from the construction of an approximately 50, 000 square foot
addition to the existing building occupied by Thermotech to be used
for manufacturing/storage, and
� WHEREAS, such tax increments are proposed to be used to finance
the cost of improvements to Nine-Mile Creek in order to allow the
proposed expansion, and
WHEREAS, the Zoning and Planning Commission has determined the
proposed Amended Redevelopment Plan and the TIF Plan as discussed by
City staff and has compared them with the plans for development of the
City as a whole.
NOW, THEREFORE, BE IT RESOLVED by the Zoning and Planning
Commission of the City of Hopkins, Minnesota, as follows:
1. The Amended Redevelopment Plan and TIF Plan as proposed by
staff are found to be consistent with the plan for
development of the City of Hopkins as a whole.
2 . The Zoning and Planning Commission recommends that the City
Council hold the public hearing required by law and adopt
the Amended Redevelopment Plan and the TIF Plan.
Ado ted this 25th ay of May, 1993 , by the Zoning and Planning
Co i�si of ��e it of Hopkins, Minnesota.
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