CR 92-53 Amendment Redevelopment Plan
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February 25, 1992
~ ~ City Council Repart: 92-53
'AMENDM~NT ~o ~E;EVELOPMENT PLAN
AND TAX INCREMENT FINANCING PLAN
ProDosed Action
staff recammends the adapt ion af the fallawing matian: Mave to confirm HRA
Resalution No. 286 adaptinq an amendment to. the Redevelopment Plan for
Redevelapment Praiect No. 1 and the Tax Increment Financing Plan far Tax
Increment Financing District No.. 1-1.
Staff has determined the need to. amend the Redevelapment Plan and the TIF
Plan in order to authorize additianal redevelo.pment activities in the
project area. These redevelo.pment activities include the temporary grant
incentives which are being prapased in caaperatian with the Commercial
Rehabilitation Laan Program.
Overview
Staff and legal counsel have determined that the HRA does nat have the
autharization to give grants af any type, for commercial rehabilitatian
purpases, withaut adopting an amendment to the Redevelopment Plan andTIF
Plan.
Adoptian af this resalution will allaw staff to. administer grants as
incentives for cammercial rehabilitatian within the same area baundaries as
autlined by the City's Commercial Rehabilitation Laan Program. The grant
incentives are as follo.ws:
1. A qrant of UP to. $500 far architectural design services.
2. A qrant equal to. 5% af the city's partian af the laan. UP to. a
maximum af $2500.
These grants will be made available to business/property owners who are
appraved for a cammercial rehabilitatian laan under the City's existing
Cammercial Rehabilitatian Laan Pragram.
This amendment to the Redevelapment Plan and TIF Plan does not alter the
baundaries af the redevelapment praject area or TIF district, increase the
estimated tax increment expenditures, or atherwise canstitute a
madification which wauld mandate the natice and hearing requirement for
initial approval.
These temparary grants can be financed with either tax increment funds ar
fram the Economic Develapment accaunt.
Attached to this repart is a capy af Resalutian No.. 284' which approves the
temporary incentives to the Cammercial Rehabilitatian Loan Pragram, and
additianal incentives in coaperation with that program far 1992.
SUDportinq Information
o Resolution No. 286
a Resalutian No. 284
a Amendment to Redevelapment & TIF Plans
i"J}~~ .-:
~aul T. steinman
Cammunity Development Specialist
Ho.using and Redevelo.pment Autho.rity
in and for the
City o.f Ho.pkins, Minneso.ta
Reso.lutio.n No.. 286
Resalutian adapting an Amendment to. the Redevelapment
Plan far Redevelapment Praject No.. 1 and the Tax
Increment Financing Plan far Tax Increment Financing
District No.. 1-1
BE IT RESOLVED by the Hausing Rnd Redevelapment Autharity in and far the
City af Ho.pkins, Minnesata (Autharity) as fallaws:
Section 1. Recitals.
1.01. The Autho.rity is administering Redevelapment Pro.ject No.. 1 (Praject)
and Tax Increment Financing District No.. 1-1 (TIF District) in the City af Hapkins,
pursuant to. Minn. Stat. Sectian 469.001 to. 469.047 (HRA Act) and Sectian 469.174
to. 469.179 (TIF Ac~
1.02. The Redevelapment Plan far the Praject and the Tax Increment
Financing Plan (TIF Plan) far the TIF District are cantained in a dacument titled
"Reorganizatian and Mo.dificatian afRedevelapment Prajects and Tax Increment
Financing Districts (Including Tax Increment Financing Plan fo.r Tax Increment
Financing District No.. 2-2)," appraved by the Autharity and the City an Navember
7,1989.
1.03. The Autharity has determined a need to. amend the Redevelapment Plan
and the TIF Plan in arder to. autharize additianal redevelo.pment activities in the
Praject area, and has reviewed a dacument titled "Amendment to. Redevelo.pment Plan
far Redevelo.pment Praject No.. 1 and Tax Increment Plan far Tax Increment financing
District No.. 1--1, Hausing and Redevelapment Autharity in and far the City o.f
Hapkins, Minne'sota," dated March 2, 1992.
1.04. The amendment to. the Redevelapment Plan daes nat alter the exterior
baundaries af the Project area, and daes nat substantially affect the general land use
in the Redevelapment Plan, and therefare the amendment daes nat canstitute a
"madificatio.n" that requires the natice and hearing required far initial appraval o.f
a Redevelo.pment Plan, pursuant to. Sectian 469.029, Subd. 6 af the HRA Act.
1.05. The amendment to. the TIF Plan daes nat alter the baundaries af the TIF
District, increase the estimated tax increment expenditures, ar atherwise co.nstitute
a madificatio.n that requires the natice and hearing requirement far initial appraval
af a TIF Plan, pursuant to. Sectian 469.175, Subd. 4 af the TIF Act.
Sectian 2. Autharity Appraval.
2.01. The Autharity finds that the abjectives af the Authority. af encauraging
redevelapment within the Praject will be advanced by adaptian af the amendment to.
the Redevelapment Plan and the TIF Plan.
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2.02. The amendment to. the Redevelapment Plan and the TIF Plan is appraved
by the Autharity.
Approved by the Hausing and Redevelo.pment Autharity in and far the City af
Hapkins this day af , 1992.
Chair
ATTEST:
Secretary
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Amendment to.
Redevelapment Plan far Redevelapment Praject No.. 1
and
Tax Increment Financing Plan far
Tax Increment Financing District No.. 1-1
Ho.using and Redevelapment Autharity
in and far the
City af Hapkins, Minnesata
March 2,,1992
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. Amendment to. Redevelapment Plan far Redevelapment
Project No.. 1 and Tax Increment Financing Plan far Tax
Increment Financing District No.. 1-1
1. Intraductian.
By resalutian dated Navember 7, 1989, the Hausing and Redevelapment
Autharity in and far the City af Hapkins (Autharity) and the City af Hapkins (City)
appraved a camprehensive rearganizatian and madificatian af the Autharity's existing
redevelapment plans and tax increment financing (TIF) plans. The revised plans
are callected in a do.cument titled "Rearganizatian and Madificatian af Redevelapment
Prajects and Tax Increment Financing Districts (including Tax Increment Financing
Plan far Tax Increment Financing District No.. 2-2)," dated Navember 7, 1989
(hereinafter, the "Rearganizatian"). On July 10, 1990, the Autharity and City
modified the Rearganizatian dacument by terminating TIF District No.. 2-2 and its
related TIF Plan. '
The Autharity and City have naw determined a need to. further madify the
Rearganizatian dacument by specifying additianal redevelapment activities within
Redevelapment Pro.ject No.. 1 (the "Praject"). This actio.n will amend the
Redevelapment Plan far the Praject and the TIF Plan far TIF District No.. 1-1.
The changes to. the Redevelapment Plan neither alter the exteriar baundaries
of the Praject nar substantially affect the general land uses in the Redevelapment
Plan; as such, this actian daes nat canstitute a "madificatian" af the Redevelapment
Plan under Minn. Stat., Sectian469.029, Subd. 6. Similal'ly, thechangestatheTIF
Plan far TIF District No.. 1-1 do. nat alter the TIF District's baundaries, designate
additianal praperty acquisitian, ar increase the estimated tax increment
expenditures; cansequently, the TIF Plan may be madified by the Autharity under
Minnesata Statutes, Sectian 469.175, Subd. 4.
II. Redevelapment Plan Amendment.
The fallawing madificatians are made to. the Redevelapment Plan for
Redevelapment Praject No.. 1 within the Reorganizatian dacument:
Sectian IV. B is madified to. add the fallawing language:
In additian to. all previausly identified purpases and abjectives
far Redevelapment Praject No.. 1, the Authority may carry aut any
undertakings that constitute an "urban renewal praject" under Sectian
469.002, Subd. 14 af the HRA Act, specifically including but no.t limited
to. rehabilitatian af buildings and ather impravements where necessary
to. remave ar prevent the spread af blight ar deteriaratian, ar to.
pramate architectural ar histaric preservatian.
Sectian IV. D. is madified to. add the fallawing language:
The Autharity may also. finance casts af the Redevelapment
Praject with any ather saurces af revenue available to the Autharity.
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III. TIF Plan Amendments.
The fallawing mo.dificatian is made to. the TIF Plan far TIF District No.. 1-1
within the Rearganizatian dacument:
Sectian V. N. is madified to. add the fallawing language:
Within the Tatal Casts limit specified abave, the Autharity may
use tax increment fram TIF District No.. 1-1 to. finance rehabilitatian af
buildings ar ather impravements within Redevelapment Praject No.. 1,
in accardance with the redevelapment abjectives set forth in the
Redevelapment Plan. Such rehabilitatian financing may be undertaken
in additian to. o.r instead af cantributians to. the City's cammercial and
sign rehabilitatian laan' funds, provided that tatal tax increment
expenditures from TIF District No.. 1-1 shall nat exceed the Tatal
Cas ts .
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CITY OF HOPKINS
HOUSING AND REDEVELOPMENT AUTHORITY
Hennepin county, Minnesota
RESOLUTION NO: 284
A RESOLUTION AUTHORIZING TEMPORARY CHANGES TO
THE COMMERCIAL REHABILITATION LOAN PROGRAM
WHEREAS, the city af Hopkins on. June 9, 1982 adopted
Ordinance No. 82-511 establishing and providing
for the administratio.n of a Commercial
Rehabilitation Loan Program; and
WHEREAS, the Hopkins Housing & Redevelopment Authority was
authorized to ado.pt from time to time various
program regulatians; and
WHEREAS, the Hopkins Housing and Redevelopment Authority
was autharized to manage the program; and
NOW THEREFORE BE IT RESOLVED, the Hopkins Housing &
Redevelopment Authority hereby approves and adapts
an amended pragram af rehabilitation,
modernizatian and repair of certain commercial
districts or areas in the City far the year 1992.
The amended pro.gram will allow for the deferment
of all principal and interest payments for all new
loans relating to exterior and interiar building
improvements. In cooperatio.n with this program,
the City will provide up to $500 in a grant for
architectural design services for exterior
improvements, and a grant in the amount of 5% of
the loan, up to $2,500, fo.r fixed exterior
improvements.
Adopted this 2nd day of March, 1992.
Nelsan W. Berg, Chairman
ATTEST:
Steve Mielke, Executive Director