1989-089
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Member
moved its adoption:
introduced the following resolution and
CITY OF HOPKINS
RESOLUTION NO.8~9
RESOLUTION TERMINATING THE
REDEVELOPMENT PROJECT AND TAX INCREMENT
FINANCING DISTRICT ESTABLISHED ON JUNE 23, 1970
BE IT RESOLVED by the City Council of the City of Hopkins,
Minnesota as follows:
Section 1. Recitals.
1.01. The Housing and Redevelopment Authori ty 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. The Authority and the City Approved the creation of a
redevelopment project to finance development of housing for the
elderly (the Project) on June 23, 1970, in accordance with Minn.
Stat. Ch. 462. ----
1.03. The Authority also certified the Project as a tax
increment financing district in accordance with Minn. Stat. Ch.
462, which district is designated by the county audi tor-as TIF
District No. 150 (the TIF District).
1.04. The Authority has determined that the redevelopment
objectives for the Project have been accomplished and no bonds
supported by tax increment from the TIF District are now out-
standing, and it is therefore in the public interest to terminate
the ProJect and the TIF District.
1.05. Termination of the ProJect and the TIF District is
consistent with the modifications set forth in a document titled
"Reorganization and Modification of Redevelopment Projects and
Tax Increment Financing Districts, City of Hopkins Housing and
Redevelopment Authority, City of Hopkins, Minnesota," dated
November 7, 1989 (the MOdification), which the Authority approved
by resolution dated November 7, 1989.
1.06. By resolution dated November 7, 1989, the Authority
approved termination of the ProJect and the TIF District and
referred the matter to the City Councll for consideration.
.
1.07. This Council has revlewed the Authority's recommenda-
tion and has this date conducted a public hearing on the Modifi-
cation, which also calls for termination of the Project and the
TIF District.
Section 2. Approval of Termination; Filing.
2.01. Termination of the ProJect and the TIF District is
hereby approved by the City.
2.02. 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.
2.03 The city clerk is authorized and directed to transmit
a certified copy of this resolution to the auditor of Hennepin
County with a request that the auditor terminate the TIF District
and adjust the property tax records accordingly.
2.04. The Authority is requested to file a copy of this
resolution with the Minnesota commissioner of trade and economic
development.
2.05. The city clerk is authorized and directed to transmit
a certified copy of this resolution to the Authority.
Passed by the City Council
this 7th day of November, 1989.
ATTEST:
Clerk
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The motion for the adoption of the foregoing resolution was duly
seconded by member
Shirley and upon vote being taken thereon,
the following voted in favor thereof:
Councilmember Anderson
Councilmember Shirley
Councilmember Kritzler
Councilmember Redepenning
Mayor Berg
and the following voted against the same:
Whereupon said resolution was declared duly passed and adopted.
0020RS05.I69
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