1999-053CITY OF IIOPKINS, MINNESOTA
Hennepin County, Minnesota
RESOLUTION N0.99-053
BEING A RESOLUTION REQUESTING THAT THE
lFIENNEPIN COUNTY AUDITOR ADJUST TAE ORIGINAL
NET TAX CAPACITY OF THE HOPKINS HOUSING AIVD
REDEVELOPMENT AUTHORITY'S TAX INCREMENT
T'INANCING DISTRICT NUMBER 2-11
'WI~E1tEAS, the Housing and Redevelopment Authority in and for the City of Hopkins,
Minnesota (the "Authority") and the City of Hopkins (the "City"), have the legal
authority to create redevelopment projects pursuant to Minnesota statutes, Section
469.001 to 469.047, inclusive, and to create tax increment financing districts
within such redevelopment projects pursuant to Minnesota Statutes. Sections
469.174-.179, inclusive.
VVIIEREA.S, pursuant to a Tax Increment Financing Pla~i (the "Tax Increment Plan's the
Authority and the City created Tax Increment financing District No. 2-I1 (the
°'District") within the Authority's Redevelopment Project No. 1; and
WHEREAS, at the request of the Authority, the Hennepin County Auditor has certified the
original net tax capacity of the District pursuant to innesota Statutes, Section
469.177; and
WHEREAS, at the time of the City Council's approval of the District, the City Council also
granted conditional use permit approval for the construction of certain
improvements by the owner of a pazcel of property within the District; and
WHEREAS, the improvements that aze the subject of said conditional use permit approval will
generate tax increment not expected to be collected by the City and Authority
when the District was created; and
WHEREAS, the Authority and City did not intend to use the tax increment generated from said
improvements and has determined to request the Hennepin County Auditor to add
the value of the improvements to the original net tax capacity of the District so
that taxes generated from such improvements will be distributed among the
various taxing jursidictions.
NOW THEREFORE, BE IT RESOLVED by the City Council of the City that, subject
to approval by the Board of Commissioners of the Authority, staff of the Authority are
authorized to request that the Hennepin County Auditor adjust the original net tax capacity of the
District by adding the assessor's estimated improvement value as of January 1, 2000, for the
SuperValu freezer wazehouse project at 101 Jefferson Avenue South, Building Permit No.
99008, dated January 13, 1999.
•
DATED: .T~~ix 20 ,1999
Mayor ~
TOTAL P.03
~. ~ .
-~
~_ ~,'