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1990-056 ~, , , CITY OF HOPKINS RESOLUTION NO. 9.O.:..5n. RESOLUTION APPROVING TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 2-5 WITHIN REDEVELOPMENT PROJECT NO. 2 BE IT RESOLVED by the City Council (IICouncilll) of the City of Hopkins, Minnesota (IICityW) as follows: Section 1. Recitals. 1. 01. By resolution dated November 7, 1989, the Housing and Redevelopment Authority (IIAuthorityll) in and for the City of Hopkins approved a modified Redevelopment Plan for Redevelopment Project No. 2 (lIprojectll) as set forth in the document ti tIed WReorganization and Modification of Redevelopment Projects and Tax Increment Financing Districts, City of Hopkins Housing and Redevelopment Authority, City of Hopkins, Minnesota.1I . 1.02. Within the Project, the Authority has determined a need to establish Tax Increment Financing District No. 2-5 (IITIF Districtll) and a Tax Increment Financing Plan (IITIF Planll) therefor, pursuant to Minn. Stat., Section 469.001 through 469.047 (IIHRA Actll) and Minn. Stat., Section 469.174 through 469.179 (IITIF Actll). ---- 1. 03. The Author i ty has caused to be prepared a TIF Plan, which is contained in a document enti tIed IITax Increment Financing Plan, Tax Increment Financing District No. 2-5 wi thin Redevelopment Project No.2, City of Hopkins Housing and Redevelopment Authority, City of Hopkins, Minnesota,W dated April 30, 1990. 1.04. Estimates of the fiscal impact regarding TIF District No. 2-5 were provided to Independent School District No. 270 and Hennepin County 30 days before the Council's public hearing on the TIF Plan. 1.05. By resolution dated April 30, 1990, the Authority approved the TIF Plan and referred it to the Council for public hearing and consideration as provided by the BRA Act and TIF Act. 1.06. This Council has fully reviewed the contents of the TIF Plan and has this date conducted a public hearing thereon at which the views of all interested persons were heard. 1 ~. Section 2. Findings: Tax Increment Financing District. 2.01. The City finds and determines that it is necessary and desirable for the sound and orderly redevelopment of the Redevelopment Project and the City as a whole, and for the protection and preservation of the public health, safety, and general welfare, that the powers of the TIF Act be exercised by the Authority and the City to provide public financial assistance to Redevelopment Project No.2. 2.02. The City further finds that, in its reasoned opinion, the redevelopment proposed in the TIF Plan for TIF District No. 2-5 could not reasonably be expected to occur solely through private investment within the reasonably foreseeable future and that therefore the use of tax increment financing is necessary. 2.03. The proposed public improvements to be financed partially through tax increment financing are necessary to permit the City to realize the full potential of the Redevelopment Project in terms of development intensity, employment opportunities and tax base. 2.04. The TIF Plan conforms to the general plan of development of the City as a whole. . 2.05. The TIF Plan will afford maximum opportunity, consistent wi th the sound needs of the Ci ty as a whole, for the redevelopment by private enterprise of Redevelopment Project No. 2. 2.06. The City finds that the TIF Plan is intended, and in the City's reasoned judgment its effect will be, to promote the public purposes and accomplish the objectives specified in the TIF'Plan. 2.07. The City finds that TIF District No. 2-5 is a redevelopment TIF District within the meaning of Section 469.174, subd. 10 (a) (1) of the TIF Act, because parcels consisting of 70 percent of the TIF District's area are occupied by buildings or other improvements, and more than 50 percent of the buildings are structually substandard to a degree requiring substantial renovation or clearance. 2.08. The City has relied upon the reports and recommendations of its staff and the Authority as well as the personal knowledge of members of the Council in reaching its conclusions regarding TIF District No. 2-5. 2 Section 3. ication: Filing. Actions Ratified: Plans adopted: Certif- 3.01. The City hereby ratifies all actions of the City's staff and the Ci ty' s fiscal and legal consultants in prepar ing the TIF Plan and arranging for its approval in accordance wi th the HRA and TIF Act. 3.02. The TIF Plan is hereby approved and adopted. 3.03. The geographic boundar ies of TIF Distr ict No. 2-5 are as described in the TIF Plan, which document is included herein by reference. 3.04. The Authority is authorized and directed to transmit a certified copy of this resolution together with a certified copy of the TIF Plan to the Director of Property Taxation of Hennepin County with a request that the original tax capacity of the property within TIF District No. 2-5 be certified to the Authority pursuant to Section 469.177, Subd. 1 of the TIF Act. 3.05. The City also directs the Authority to file a copy of the TIF Plan wi th the Minnesota Commissioner of Revenue as required by the TIF Act. . 3.06. At the request of the Authority, the City may at the appropriate time take action to issue and sell its general obligation bonds pursuant to the TIF Act to finance public redevelopment costs identified in the TIF Plan. 3.07. The City reaffirms the Tax Increment Agreement with the Authority, dated November 7, 1989, that is currently on file in City Hall. 3.08. The City Clerk is authorized and directed to transmit a certified copy of this resolution to the Authority. Approved by the Minnesota this 30th day City counCi~Of the City of April, 1990. Nelson of Attest: City Clerk 3 . . '" CITY OF HOPKINS HENNEPIN COUNTY, MINNESOTA 90- 56 A RESOLUTION NO. RESOLUTION GIVING APPROVAL TO A CHANGE OF NAME OF GRANTEE FROM ROGERS CABLESYSTEMS OF THE SOUTHWEST, INC. TO KBL CABLESYSTEMS OF THE SOUTHWEST, INC. D/B/A PARAGON CABLE WHEREAS, Rogers Cablesystems of the Southwest, Inc. ("RCTSI") is the current grantee under the cable communications ordinance ("Franchise") of the City of Hopkins, Minnesota ("City"); and WHEREAS, RCTSI desires to change its corporate name to KBL Cablesystems of the Southwest, Inc., d/b/a Paragon Cable ("KBLCSI") and has requested the City's approval of the name change; and WHEREAS, RCTSI does not intend to make any changes to its ownership struc- ture or to the control of its operations, but desires only to change its name; and WHEREAS, KBL Cable, Inc. ("KBLC") and KBLCOM Incorporated ("KBLCOM") are the guarantors of RCTSI's obligatlons under the Franchise pursuant to a Consent Agreement and Guaranty of Performance given to the City; and WHEREAS, the Southwest Suburban Cable Commission ("SWSCC") reviewed the request for approval of RCTSI's name change and found no reason to disapprove of the request, provided KBLC, KBLCOM, and KBLCSI first acknowledge and agree in a writing acceptable to SWSCC's member cities that KBLCSI is the corporate suc- cessor of RCTSI for all purposes under the Franchise and that KBLC and KBLCOM reaffirm their status as guarantors of KBLCSI's obligations under the Franchise; and WHEREAS, the City joins in the foregoing findings of SWSCC. . NOW, THEREFORE, BE IT RESOLVED: 1. The City hereby consents to and approves the change of the name of the grantee under the Franchise from Rogers Cablesystems of the Southwest, Inc. to KBL Cablesystems of the Southwest, Inc., d/b/a Paragon Cable, provided KBLCOM Incorporated, KBL Cable, Inc., and KBL Cablesystems of the Southwest, Inc. first file with the City an Acceptance and Consent in a form and substance acceptable to the City. 2. The Cl ty declares that as of the time of this Resolution, the Fran- chise and all agreements entered into by RCTSI in connection therewith shall remain in full force and effect, except that KBL Cable systems of the Southwest, Inc. shall be deemed to have been substituted as grantee and shall be obligated as RCTSI's successor in interest to perform all of RCTSI's duties and obliga- tions thereunder. Passed and adopted this 1st , 1990, by the City of May day of Hopkins. CITY OF HOPKINS B Attest: ~ /-d:~ ~ City Clerk -2-