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Expansion of Central Business Dist.• Planning Commission BACKGROUND EXPANSION OF CENTRAL BUSINESS DISTRICT REDEVELOPMENT BOUNDARIES CITY OF HOPKINS November 14, 1985 PURPOSE Consider Plan for expansion of present Central Business District Redevelopment Boundaries and creation of new tax increment district. Recently the City staff was approached by an individual, Mr. Dick Anderson, about undertaking a total redevelopment project of the Minneapolis Moline site both north and south of County Road 3. The office, industrial and residential development would be phased over a three year period beginning on April of 1986. The Zoning and Planning Commission has already reviewed the housing portion of the Plan at a previous meeting. The proposed plan expands the existing Downtown Redevelopment District to the south and east. Because areas such as the Moline site have high front end development costs (ie acquisition, demolition, etc.) it is difficult to put together a project which is financially feasible. Placing such areas in a redevelopment district allows the City to reduce some of these costs to a developer thus use of tax increment financing. ANALYSIS: The Plan as drafted would allow the development on the former Moline property which is being proposed by Block Partners. Should this project not occur, it will still allow the City to assist in development of the site as well as other areas directly adjacent to the Downtown. On the other hand, approval of such a plan does not in any way require the City to take any future action. The Plan presents a reuse of the area which is for the most part consistent with the Comprehensive Plan and Zoning Ordinance. The residential 9 acre southerly site is presently being considered for a change for conformance with the Plan. If the Commission approves the resolution presenting its written opinion of the Plan on November 26, it will be provided to the HRA /City Council at a Public Hearing on December 3 concerning this matter. 11111 ALTERNATIVES: 1) Take no action at the November 26 meeting. This would not allow the City to con- tinue on the proposed time schedule for reviewing the Plan. Because it appears the law will change concerning the formation of Redevelopment Districts after January 1, this action could in essence prevent such action from taking place at a future date. EXPANSION CBD Page 2 2) Action on the resolution presenting a written opinion to approve the Plan. This will allow the Plan to proceed on the time schedule necessary to receive final Council approval prior to the end of the year. 3. Action on a resolution to not approve Plan. In this situation, as with #2 above, the HRA /Council will have to make the final determination whether to approve or deny. RECOMMENDATION`: Approval of Plan. James D. Kerrigan,,Director Community Development CITY OF HOPKINS Hennepin County, Minnesota A RESOLUTION RECOMMENDING APPROVAL OF AN AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE CENTRAL BUSINESS DISTRICT ENTITLED "HOPKINS CBD REDEVELOPMENT PROGRAM" WHEREAS it has been the intent and desire of the City of Hopkins (the City) for many years to improve conditions in the Central Business District and surrounding area, and WHEREAS the Housing and Redevelopment Authority (the Authority) and the City have previously approved a redevelopment plan for the Central Business District of Hopkins, Minnesota entitled "Hopkins CBD Redevelopment Program (the Plan), and WHEREAS such plan has been revised from time to time to facilitate additional development and public improvements within the Central Business District and surrounding area, and WHEREAS the Authority has now submitted an amendment to the plan entitled "South CBD Redevelopment Program" and has requested the written opinion of the Planning Commission on the Plan, all pursuant to Minnesota Statutes 462.515; and WHEREAS, the Planning Commission has now studied and considered said amendment to the Plan. NOW, THEREFORE BE IT RESOLVED, by the Planning Commission of the City of Hopkins, that, having studied and considered the amendment to the Plan, the Planning Commission by this resolution, advises the City Council, the Authority, and all interested persons, that it is the opinion of the Planning Commission that: 1. The Hopkins Zoning and Planning Commission finds the proposed amendment to the plan consistent with the overall development plan and goals for the City. 2. The Hopkins Zoning and Planning Commission finds the proposed amendment consistent with changes proposed to the 1990 Compre- hensive Plan. • 3. The Hopkins Zoning and Planning Commission recomends to the Hopkins City Council that the proposed amendment be adopted.