1996-024CITY OF HOPK[NS
HENNEPIN COUNTY, MINNESOTA
RESOLUTION NO. 96-24
RESOLUTION APPROVING A CONTRAC'C FOR
PRIVATE REDEVELOPMENT BETWEEN THE HOUSING
AND REDEVELOPMENT AUTHORITY [N AND FOR THE
CITY OF HOPKINS, MINNESOTA AND LARRY C.
BARENBAUM AND DOUG M. KARON
WHEREAS, the Housing and Redevelopment Authority In and For the City of Hopkins,
Minnesota (the "Authority") and the City of Hopkins, Minnesota (the "City"), have the legal
authority to create redevelopment projects pursuant to Minnesota Statutes, Section 469.00 ! to
469.047, inclusive, and to create tax increment financing districts within such redevelopment
projects pursuant to Minnesota Statutes, Sections 469.174 - .179, inclusive.
WHEREAS, the Authority and the City have approved the creation of the Authority's
Redevelopment Projects Nos. 1 and 2 (collectively, the "Project") and Tax Increment Financing
District No. 2-8 (the "District"); and
WHEREAS, the tax increment financing plan for the District (the ``Plan'') contemplates
the development of certain real property within the City through the construction of an
office/warehouse facility located thereon; and
WHEREAS, there has been approved by the Authority, conditioned on approval by the
City Council, a Contract for Private Redevelopment (the "Contract") proposed to be executed
between the Authority and Larry C. Barenbaum and Doug M. Karon. providing for the
construction of the off ce/warehouse facility referenced in the Plan: and
WHEREAS, the City has reviewed the proposed Contract and has determined that
execution of the Contract is in its best interests and will serve to accomplish the objectives set
forth in the Plan.
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Hopkins.
Minnesota, that the execution of the Contract by the Authority is hereby approved.
Charles D. Redepemm~g, Mayor.
ATTEST:
_ Gam..
mes A. Genellie, City Clerk
Approved by the City Council of the City of kins this 19`" day of March, 1996.
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