1995-035
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CITY OF HOPKINS
RESOLUTION NO. 95-35
RESOLUTION APPROVING DEVELOPMENT AGREEMENT
WITH WESTBROOKE CONDOMINIUM ASSOCIATION, d.b.a.
MEADOW CREEK CONDOMINIUMS
BE IT RESOLVED by the City Council ("Council") of the City of Hopkins ("City") as
follows:
Section 1.
Recitals.
1.01. The City is authorized under 1994 Minnesota Laws, Chapter 587, Article 9,
. Sections 22 through 31 (the "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 City Council of the City
approved the 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, referred to as the
"Property. "
1.04. By Resolution No. 95-18 adopted March 21, 1995 (the "Fee Resolution") the City
Council imposed a housing improvement fee on Housing Units (as hereinafter defined) in
Housing Improvement Area No.1 in order to fmance certain housing improvements in that area.
1.05. The Act authorizes the City to issue bonds in the amount necessary to defray the
expense to be incurred in making the housing improvements, which bonds are payable primarily
from proceeds of the fee imposed under the Fee Resolution and may be further secured by the
pledge of the City's full faith, credit and taxing power.
1.06. The Council has reviewed that certain Development Agreement (the "Agreement")
between the City and Meadow Creek Condominiums Association, d.b.a.. Westbrooke
Condominium Association (the "Association"), setting out the respective obligations of the City
and the Association regarding the housing improvements and the Property.
Section 2.
Agreement Approved.
2.01. The Mayor and City Manager are hereby authorized and directed to execute the
Agreement in substantially the form presented to the Council on this date, subject to
modifications that do not materially alter the City's rights and obligations under the Agreement
and that are approved by the Mayor and the City Administrator, which approval shall be
conclusively evidenced by execution of the Agreement.
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2.02. The Mayor and City Manager are hereby authorized and directed to take
any and all other steps necessary or convenient in order to carry out the City's obligations under
the . Agreement.
Approved by the City Council of the City of Hopkins this 2nd day of May, 1995.
ATTEST:
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