1990-075
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CITY OF HOPKINS
Hennepin County, Minnesota
RESOLUTION NO: 90-75
RESOLUTION TERMINATING TAX INCREMENT
FINANCING DISTRICT NO. 2-2 ESTABLISHED
ON NOVEMBER 7, 1989
BE IT RESOLVED by the City of Hopkins, Minnesota as follows:
Section 1. Recitals.
1.01. The Housing and Redevelopment Authority in and for
the City of Hopkins ("Authority") and the city of
Hopkins ("city") are authorized to create and
establish redevelopment projects in order to
discourage blight and blighting influences within the
City.
1.02. On November 7, 1989 the Authority and the City
approved the creation of Tax Increment Financing
District No. 2-2 ("TIF District") within
Redevelopment Project No.2 ("Project"), to finance
redevelopment of the Harley Hopkins School, in
accordance with Minn. Stat. Sections 469.174 to
469.179 ("TIF Act").
1.03. The Authority also requested certification of the TIF
District by the County Auditor, who designated the
district as TIF District No. 159.
1.04. The Authority has determined that the redevelopment
objectives for the Project can be accomplished
without the use of tax increment funds from the TIF
District are now outstanding, and it is therefore in
the public interest to terminate the TIF District.
1.05. Termination of the TIF District will result in a
modification of document titled "Reorganization and
Modification of Redevelopment Projects and Tax
Increment Financing Districts, City of Hopkins,
Minnesota", dated November 7, 1989 (the
MOdification"), which the Authority and the City
approved by resolution dated November 7, 1989.
1.06. The Authority approved Resolution No. 90-270 on
August 7, 1990 terminating the TIF District and
referring the matter to the City Council for
consideration.
section 2. Aoproval of Termination: Further Proceedinqs.
2.01. The City finds that it is necessary, desirable, and
in the public interest to terminate the TIF
Districts.
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2.02. Termination of the TIF District and the TIF Plan
therefor as set forth in the Modification is hereby
approved by the city.
2.03. It is the city's intent that any tax increment from
the TIF District paid to the Authority from taxes
collected in 1990 will be returned to the County
Auditor for distribution to all taxing jurisdictions.
2.04. The city clerk is authorized and directed to transmit
a certified copy of this resolution to the Hennepin
County Director of Property Taxation with a request
that the Director terminate the TIF District and
adjust the property tax records accordingly.
2.05. The Authority is requested to file a copy of this
resolution with the Minnesota Commissioner of
Revenue.
2.06. The city clerk is authorized and directed to transmit
a certified copy of this resolution to the Authority.
Adopted by the City Council of the City of Hopkins, Minnesota
this 7th day of August, 1990. " ~_~
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Nelson W. Berg, Ma~
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Gene