CR 2000-157 Decertification Of Parcel From Tax Increment District
CITY OF
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September 25,2000 HOPKINS Council Report 2000-157
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DECERTIFICATION OF PARCEL FROM TAX INCREMENT DISTRICT 2-11
Proposed Action
Staff recommends approval of the following motion: approve the elimination of certain real
estate from Hopkins Tax Increment Financing District 2-1 L described as Pill 25-117-22-12-
0008. subiect to approval of the conditional use permit agreement for the SuperValu perishable
warehouse expansion project.
Overview
Tax Increment District 2-11 was certified in 1999. The majority of the SuperValu property is
part ofthis district. Also included is the former Country Club warehouse property that has now
been acquired by SuperValu.
According to the approved plans for the perishable warehouse expansion project, the westerly
part of the building will be located outside the 2-11 district boundaries. Hennepin County policy
does not allow increment to be collected on a building that is located both in and out of a tax
increment district. As a result, Ehlers & Associates has recommended that the City!HRA
. decertify the subject parcel from TIF District 2-11.
With this action, tax increments will not be able to be collected from the new perishable
warehouse expansion project. As has been previously discussed, SuperValu has expressed an
interest in creating a tax abatement district on this parceL
The impact ofthis action is that the increased taxes generated from this new development would
go on the tax roles immediately. Even if an abatement district were created at a future date,
probably only the local portion of taxes would be captured.
Supportin2 Documents
. Site m~ of TIP District 2-11
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Jim "Kerrigah
Planning & Econo
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. Financial Impact: $ Nt A X_ Budgeted: Y IN _ Source:
Related Documents (CIP, ERP, etc.):
Notes: Does not involve general fund.
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Tax Increment Financing District No. 2-11
Redevelopm ent Project No. 1
City of Hopkins
Hennepin County, Minnesota
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