1995-018
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CITY OF HOPKINS
RESOLUTION NO. 95-18
RESOLUTION APPROVING A HOUSING Th1PROVEMENT FEE FOR
HOUSING IMPROVEMENT AREA NO. 1 (MEADOW CREEK) PURSUANT
TO 1994l\.1INNESOTA LAWS, CHAPTER 587, ARTICLE 9, SECTIONS 22
lHROUGH 31
BE IT RESOLVED by the City Council of the City of Hopkins as follows:
Section 1. Recitals.
1.01. The City of Hopkins ("City") is authorized under 1994 Minnesota Laws, Chapter 587,
Article 9, Sections 22 through 31 (the "Housing Improvement Act") to establish by ordinance a
housing improvement area within which housing improvements are made or constructed and the costs
of the improvements are paid in whole or in part from fees imposed within the area.
1.02. By Resolution No. 94-55 adopted June 7, 1994, the Council approved the Housing
Improvement Act.
1.03. By Ordinance- No. 95-759 adopted March 21, 1995 (the "Enabling Ordinance"), the
Council established Housing Improvement Area No. 1 in order to facilitate certain improvements to
property known as the "Meadow Creek Condominiums," all in accordance with the Housing
Improvement Act.
1.04. In accordance with Section 23 of the Housing Improvement Act, owners of at least 25
percent of the housing units within Housing Improvement Area No. 1 have filed a petition with the City
Clerk requesting a public hearing regarding imposition of a housing improvement fee for Housing
Improvement Area No. 1.
1.05. The Council has on March 21, 1995 conducted a public hearing, du1y noticed in
accordance with the Housing Improvement Act, . regarding adoption of this resolution at which all
persons, including owners of property within Housing Improvement Area No.1, were given an
opportunity to be heard.
1.06. Prior to the date hereof, Westbrooke Condominium Association, d.b.a. Meadow Creek
Condominiums (the "Condominium Association") has submitted to the City a financial plan prepared
by Dunbar Strandness, Inc., an independent third party, acceptable to the City and the Condominium
Association, that provides for the Condominium Association to finance maintenance and operation of
the' common elements in the. Meadow Creek Condominiums and a long-range plan to conduct and
firiance capital improvements therein, all in accordance with Section 25 of the Housing Improvement
Act.
1.07. For the purposes of this Resolution, the terms "Housing Improvement Area No.1" and
"Housing Improvements" have the meanings provided in the Enabling Ordinance.
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Section 2. Housing Improvement Fee Imposed.
2.01. The City hereby imposes a fee on each housing unit within Housing Improvement Area
No.1 (the "Housing Improvement Fee"), as specified in Exhibit A attached hereto, which Housing
Improvement Fee is imposed on the basis of each housing unit's Percent of Undivided Interest in
Common Elements, Votes and Facilities, as described in Exhibit A to Condominium No. 246,
Declaration for Condominium, Westbrooke Condominium, dated as of October 22, 1981.
2.02. The owner of any housing unit against which the Housing Improvement Fee is imposed
may, at any time within 30 days after the effective date of this Resolution, pay the total Housing
Improvement Fee imposed against such housing unit as specified in Exhibit A hereto to the City
Treasurer, without interest thereon; provided that in the event of such prepayment, the owner of such
housing unit shall be entitled to a credit of $41.00, which amount shall be subtracted from the total fee
payable for such housing unit specified in Exhibit A . Any Housing Improvement Fee not prepaid in
accordance with this Section shall be payable solely in accordance with Section 2.03 hereof
2.03. If not prepaid in accordance with Section 2.02 hereof, the Housing Improvement Fee
shall be payable in equal annual installments extending over a period of 16 years, the first of the
installments to be payable in calendar year 1996, which annual payment shall be deemed to include
interest on unpaid total Housing Improvement Fee from the date of this Resolution at an annual interest
rate that will produce total fee revenue collected from all units in Housing Improvement Area No. 1 in
an amount that equals 105 percent of the debt service payable each year on bonds to be issued by the
City issued to finance the Housing Improvements (the "Bonds") in accordance with the Enabling
Ordinance and the Housing Improvement Act. Upon issuance of the. Bonds, the City Clerk shall cause
to be prepared a schedule indicating the annual payment for each housing unit for which the Housing
Improvement Fee has not been prepaid, which schedule shall be attached as Exhibit B to this
Resolution in the City's official records.
2.04. The Housing Improvement Fee, unless prepaid in accordance with Section 2.02 hereof,
shall be payable at the same time and in the same manner as provided for payment and collection of ad
valorem taxes, as provided in Section 26 of the Housing Improvement Act.
2.05. The Housing Improvement Fee imposed against each housing unit shall not exceed the
amount specified in Exhibit A hereto; provided, however, that the Housing Improvement Fee may be
reduced at any time before issuance of the Bonds, which reduction shall be applied pro rata to each
housing unit's Housing Improvement Fee on the basis described in Section 2.01 hereof; and further
provided that if any housing unit owners have prepaid the Housing Improvement Fee prior to any
reduction in that fee, .the City shall promptly reimburse such housing unit owner in the amount of the
pro rata share of any reduction in the fee amount. Upon any reduction in the Housing Improvement
Fee, the City Clerk shall cause to be prepared a revised copy of Exhibit A hereto, which shall be
attached to this Resolution in the City's official records and shall be promptly mailed to all housing unit
owners within Housing Improvement Area NO.1. Within 30 days after issuance of the Bonds the City
Clerk shall mail to each housing unit owner a copy of Exhibit B to this Resolution showing the final
annual fee imposed against each housing unit for which the Housing Improvement Fee has not been
prepaid.
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Section 3. Notice of Right to File Obiections.
3.01. Within five days after the adoption of this Resolution, the City Clerk is authorized and
directed to mail to the owner of each housing unit in Housing Improvement Area No.1: a summary of
this Resolution; notice that owners subject to the Housing Improvement Fee have a right to veto this
Resolution if owners of at least 35 percent of the housing units within Housing Improvement Area No.
1 file an objection with the City Clerk before the effective date of this Resolution; and notice that a
copy of tins ordinance is on file with the City Clerk for public inspection.
Section 4. Effective Date.
4.01. This Resolution shall be effective 45 days after adoption hereof
Section 5. Filing of Housing Improvement Fee.
5.01. Within 30 days after issuance of the Bonds, but it no event later than November 15,
1995, the City Clerk shall file a certified copy of this resolution together with a final update of Exhibits
A and B hereto to the Hennepin County Director of Taxation to be recorded on the property tax lists of
the county.
Approved by the City Council of the City of Hopkins this 21st day of March, 1995.
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