82-3035 CITY OF HOPKINS
Hennepin County, Minnesota
RESOLUTION NO. 82-3035
• A RESOLUTION AUTHORIZING THE REHABILITATION, MODERNIZATION
AND REDEVELOPMENT OF CERTAIN COMMERCIAL AREAS IN THE CITY
OF HOPKINS AND ENGAGING CERTAIN SERVICES BY AND FROM THE
HOPKINS CITY CENTER DEVELOPMENT CORPORATION IN CONNECTION
THEREWITH.
WHEREAS, the City of Hopkins has previously authorized and ordered a
comprehensive study, plan and survey of the conditions and needs of certain
commercial areas in the City which study concludes that within certain commercial
areas there is physical deterioration and a need for rehabilitation and modern-
ization; and
WHEREAS, there exists a City Center Development Corporation (hereinafter
called "Corporation") in Hopkins which is a non-profit organization that has been
formed for the purpose of promoting the repairs, modernization, improvement and
rehabilitation of some of the commercial and business establishments in the City;
and
WHEREAS, it is in the best interests of the entire City of Hopkins that
there be commended and promoted a program of such rehabilitation and rebuilding
of certain of the commercial and business areas in the City; and
WHEREAS, the Corporation consists of various commercial and business
personnel which is prepared and has offered to perform certain necessary services
and duties in connection with such rehabilitation; and
WHEREAS, the City is prepared to commence, supervise and conduct a
rehabilitation program in certain of the above-mentioned needy commercial areas and
to arrange funds to be used as loans in such modernization and rehabilitation program
and require certain aid and services of the Corporation in connection therewith;
and
WHEREAS, such modernization and repair will improve the valuation, growth
and desirability of such properties thus modernized and renovated.
NOW THEREFORE, the Council of the City of Hopkins hereby approves and adopts
a program of rehabilitation, modernization and repair of certain commercial districts
or areas in the City.
That further, the City hereby appoints the Corporation for the purpose of
providing certain services in connection with such rehabilitation and improvements
. in the above mentioned commercial districts of the City which Corporation is hereby
authorized to perform at least the following functions and duties which employment
the Corporation hereby accepts:
a) Provide disseminate and distribute all necessary or desirable
information as to such rehabilitation program
b) Seek and cooperate with all commercial lenders and assist property
owners in connection with necessary loans.
c) Insure that applicants needing repairs or rehabilitation are in
compliance with the Commercial Rehabilitation Loan Program Regulations,
including inspections made by the City Building Inspector prior to the
consideration and processing of such loan applications, which are to be
made upon forms or other documents provided by the City for such purpose.
d) To examine and recommend for approval or disapproval all loan applications
based upon priorities set forth in such loan regulations.
e) To review all loan applications for such loans and keep record of each
loan proceeding.
4111 f) To monitor the loan program and submit monthly reports including
but not limited to the amount of funds committed, and the projected
time at which funds are required for disbursement.
THAT FURTHER, THE CITY hereby agrees to furnish or perform the following
duties:
1) Inform the Corporation from time to time of the amount of monies
S available in the rehabilitation fund for commercial rehabilitation
loans hereinabove mentioned.
2) Provide the Corporation with a copy of all loan regulations and other
pertinent information concerning such loan requirements, including any
additions or amendments which may be added thereto from time to time.
3) Issue payments from time to time for labor and materials funished or
performed in connection with such previously approved Rehabilitation
projects; such payments to be made only on the certification of such
progress by the Corporation. The Corporation's fee shall be paid at
the same time the loan proceeds are released.
CORPORATION COMPENSATION: The City is hereby authorized to enter into a
contractual agreement with the Corporation, which contract will define the duties,
obligations and services to be performed by the Corporation in connection with the
commercial area rehabilitation, and will establish the compensation fee to be paid
by the City to the Corporation, which fee shall not exceed an amount equal to 7%
of the principal of each loan advanced by the City.
Passed and adopted by the Council of the City of Hopkins, Minnesota, at a
41111 regular meeting held the 2nd of November, 1982.
C'C' /RA
J. SCOTT RENNE ROBERT F. MILLER
City Clerk Mayor
JOSEPH C. VESELY
City Attorney
•
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P-1 )4;I:firliMt CONTRACT PERTAINING TO THE
/°)11 REHABILITATION OF CERTAIN
HOPKINS COMMERCIAL BUILDINGS
S
This Agreement, made this 2nd day of November, 1982, by and between the
City of Hopkins (hereinafter termed the "City") , party of the first part, and City
Center Development Corporation, a non-profit organization (hereinafter referred to
as the "Corporation").
WITNESSETH
WHEREAS, the Corporation, pursuant to its Resolution 1, dated April 20,
1982, has determined that a program of rehabilitation is necessary and useful for
the betterment of the City of Hopkins, a copy of which Resolution is hereto attached,
and
WHEREAS, the City of Hopkins has heretofore passed and adopted a Resolution
No. 82-305 pertaining to the rehabilitation, modernization and redevelopment of
certain commercial areas in the City of Hopkins, in which Resolution the City has
appointed the Corporation to perform certain duties in connection therewith, a copy
of which Resolution is hereto attached.
1111 NOW THEREFORE, the parties hereto hereby agree to do and perform as follows:
a. The City hereby employs the services of the Corporation to do an perform
all necessary or desirable work and services in the promotion of the rehabilitation of
such commercial areas in the City which may be designated by the City for rehabilitation,
all as more fully set forth in the Resolution of the City of Hopkins bearing No. 82-305.
b. That the Corporation hereby accepts and agrees to perform all necessary
or desirable work and duties in connection with such rehabilitation as also set forth
in said Hopkins Resolution.
The City hereby agrees to pay a fee to the Corporation in connection with
each commercial rehabilitation improvement project in the Hopkins Commercial area
which project is first approved by the City and is commenced and completed by the
applicant at the instigation and/or help of the Corporation, which fee shall be 7
percent of the rehabilitation loan secured or advanced by the City for such improvement.
It is hereby further understood and agreed that this agreement may be fully
cancelled and terminated by either party hereto by the service or mailing of a sixty
(60) day written notice of such cancellation.
NIN WITNESS WHEREOF, the parties hereto have caused this agreement to be
executed as of the day and year first above written.
C Y OF HOPKINS
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By -`�` __� t .moi
Mayor
By P C
City Manager
CITY CENTER DEVELOPMENT CORPORATION
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By LV
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