1985-3228
o
o
o
-c
RESOLUTION NO.
85-3228
A resolution approving a
redevelopment plan 'and tax
increment financing plan for the
City of Hopkins dated November 15,
1985 including approval of
Modification 13 to the Hopkins CBD
Redevelopment Project Boundary,
Creating of a Tax Increment
District and adopt a Financing Plan
for the CBD South Sector Project
and Modification of the Financing
Plan for the original Hopkins
Redevelopment Tax Increment
District (North Sector Project).
Whereas, it has been the intent and desire of the City
Council of the City of Hopkins to improve the conditions within
the City of Hopkins.
Whereas, the Housing and Redevelopment Authority of Hopkins,
Minnesota (the Authority), has now prepared a redevelopment
program and tax increment financing plan for the City of Hopkins,
Minnesota dated November 15, 1985 (The Plan) which details the
following actions:
1. Modification #3 to the Hopkins CBD
Redevelopment Project Boundary (pursuant to
the provisions of Minnesota Statutes, 462.411
et seq.).
2. Creation of Tax Increment District and
Adopt Financing Plan for the CBD South Sector
Project (pursuant to the provisions of
Minnesota Statutes, 273.71-78).
3. Modification of the Financing Plan for
the Original Hopkins CBD Redevelopment Tax
Increment District (North Sector Project).
Whereas, the City Zoning and Planning Commission has
received a copy of the proposed tax increment financing plan and
has been given the opportunity to review and comment and said
written opinion has been presented to the Hopkins City Council.
Whereas, the Hopkins Housing and Redevelopment Authority has
informed the members of the local School Board of the Independent
School District 274 and the Board of Commissioners of Hennepin
County of the fiscal and economic implications of the proposed
plan.
Whereas, a public hearing was held on December 3,1985 at
7:30 p.m. before the City Council in the Council Chambers in the
City Hall, in Hopkins, Minnesota, notice of which had been
published once in the official newspaper for the City, not less
than ten, no more than thirty days prior to December 3, 1985.
o
o
o
~
\
Now, Therefore Be It Resolved, By the City of Council
Hopkins that:
the City of Hopkins does hereby approve in all respects the
Redevelopment Plan dated November 15, 1985 which includes the
following actions:
1. Modification #3 to the Hopkins CBD
Redevelopment Project Boundary.
2. Creation of Tax Increment District and
Adopt Financing Plan for the CBD South Sector
Project.
3. Modification of the Financing Plan for
the Original Hopkins CBD Redevelopment Tax
Increment District (North Sector Project).
Be It Further Resolved, that said approval is based upon the
following findings:
1. that the redevelopment plan conforms to a general plan
for the development as of the City as whole;
2. the land in the project area would not be made available
for redevelopment without the financial aid to be sought;
3. the land as detailed in
available for redevelopment
sought;
the Plan could not be made
without the financial aid to be
4. a plan for relocation of individuals and businesses
displaced, if any, in coming out the project is feasible and
can be reasonably and timely effected to permit the proper
execution and completion of the redevelopment proposed;
5. that it is necessary to acquire
designated for purchase in the Plan in
public improvement in the area;
those parcels as
order to carry out
6. that the geographical area to be added to the existing
tax increment district is a redevelopment district pursuant
to Minnesota Statutes, Section 273.73, Subdivision 10 since
70 percent-parcels-~n the modification to the redevelopment
district are occupied by buildings, streets, utilities or
other improvements and 20 percent of the buildings are
structurally substandard and an additional 30 percent of the
buildings are found to require substantial renovation or
clearance in order to remove such existing conditions as
inadequate street layout, incompatible uses or land use
relationships, overcrowding of buildings on the land,
excessive dwelling unit density, obsolete buildings not
suitable for improvement or conversion, or other identified
hazards to health, safety, and general well-being of the
community, and;
7. that the proposed redevelopment or redevelopment, would
not reasonably be expected to occur solely through private
investment within the reasonably foreseeable future and
therefore the use of tax increment financing is deemed
necessary.
Now Therefore Be It Further Resolved, that in accordance
with Minnesota Statutes, 273.76 Sub. 2 (a) that in conjunction
with the--Plan-the--City elects to retain all of the Captured
Assessed Value within the project area for undertaking
permissible expenditures.
o
o
o
p
Now Therefore Be It Further Resolved, that the City staff is
hereby authorized and directed to transmit to the State
Department of Energy and Economic Development, Office of Local
Government, certified copies of this Resolution, of said Plan is
modified, and after proper and documents described or referred to
in Minnesota Statutes, Section 462.445 Subdivision 8 of said
Minnesota-Hous1ng--and Redevelopment Act, and the City Council
requests certification of the District and the Plan from the
Hennepin County Director of Property Taxation.
Now Therefore Be It Further Resolved, that the tax increment
financing plan is approved and the tax increment financing
district is established.
Now Therefore Be It Further Resolved, that the form of the
tax increment financing agreement now on file with the City Clerk
is approved and the Mayor and City Manager are authorized to
execute and deliver the tax increment financing agreement on
behalf of the City.
Passed and adopted by the City Council of the City of
Hopkins at their regular meeting the 3rdday of December, 1985.
J. SCOTT RENNE
City Clerk
ELLEN LAVIN
Mayor
JERRE A. MILLER
City Attorney
CERTIFICATION
state of Minnesota
City of Hopkins
I hereby certify that the foregoing Resolution is a true and
correct copy of the resolution presented to and adopted by
the City Council of the City of Hopkins, Minnesota at a duly
authorized meeting thereof held on the 3rd day of December,
1985, as shown by the minutes of said meeting in my
posseSSiO~ .
~i~~
Deputy City Clerk