1986-54CITY OF HOPKINS
Hennepin County, Minnesota
RESOLUTION NO. 86-54
A resolution approving Modification #4
of the financing plan for the original
Hopkins CBD Redevelopment Tax Increment
District (North Sector Project)
Whereas, it has been the intent and desire of the City
Council of the City of Hopkins toimprove the conditions
within the City of Hopkins.
Whereas, the Housing and Redevelopment Authority of
Hopkins, Minnesota (the Authority), has now prepared a
modification -of the tax increment financing plan to include
a parking structure for the City of Hopkins, Minnesota dated
August 11, 1986 which details the following action:
I. Modification #4 of the Financing Plan for the
Original Hopkins CBD Redevelopment Tax Increment
District (North Sector Project); as addendum A to
the document titled: Modification #3 to the
Hopkins CBD Redevelopment Project Boundary and
Create Tax Increment District and Adopt 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), Dated: November
15, 1985.
Whereas, the City Zoning and Planning Commission has
received a copy of the Modification #4 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 modification.
Whereas, a public hearing was held on September 3, 1986
® 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
September 3, 1986.
Now, Therefore Be. It Further Resolved, By the City
Council of Hopkins that:
the City of Hopkins does hereby approve in all respects
the Modification of the Financing Plan for the Original
Hopkins CBD Redevelopment Tax Increment District (North
Sector Project) to.include a parking structure.
Be It Further Resolved, that said approval is based
upon the following finding:
1. that the redevelopment plan conforms to a general
plan for the development as of the City as a whole;
2. the proposed activity will be undertaken in order
to eliminate blighting influences which impede
potential development;
3. to provide maximum opportunity for redevelopment
by private enterprise in a manner consistent with the
needs of the City of Hopkins as a whole and to
encourage private rehabilitation of structures within
the area;
4. to accomplish financially feasible development or
redevelopment the Housing and Redevelopment Authority
in and for the City of Hopkins has been given certain
0 powers pursuant to Minnesota Statutes, 462.411 et seq.
5. the Authority is not prohibited in the use of
revenues from tax increments for the construction or
renovation of a parking structure, pursuant to
Minnesota Statutes, Section 273.75, Subd. 4, limitation
on use of tax increment.
Now Therefore Be It Further Resolved, that Modification
#4 of the Financing Plan is approved for the Original
Hopkins CBD Redevelopment Tax Increment District (North
Sector Project).
Now Therefore Be It Further Resolved, that the
Modification is now on file with the City Clerk is approved
and the Mayor and City Manager are authorized to execute and
deliver the Modification plans on behalf of the City.
Passed and adopted by the City Council of -the City -of
Hopkins at their regular meeting the 2nd da:of September;
1986 . — " -
J. SCOTT RENNE ELLEN LAVIN
City Clerk Mayor