1997-027
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CITY OF HOPKINS
Hennepin County, Minnesota
RESOLUTION 97-27
RESOLUTION APPROVING DEVELOPMENT AGREEMENT
WITH WESTBROOKE PATIO HOMES ASSOCIATION, INC.
BE IT RESOLVED by the City Council ("Council") of the City of Hopkins ("City")
as follows:
Section 1. Recitals.
1.01. The City is authorized under 1994 Minnesota Laws, Chapter 587, Article
9, Sections 22 through 31 (the "Act") to establish by ordinance a housing improvement
area within which housing improvements are made or constructed and the costs of the
improvements are paid in whole or in part from fees imposed within the area.
1.02. By Resolution No. 94-55, adopted June 7, 1994, the City Council of the
City approved the Act.
1.03. By Ordinance No. 97-796, adopted February 4, 1997, (the "Enabling
Ordinance"), the Council established Housing Improvement Area NO.2 in order to
facilitate certain improvements to property known as the Westbrooke Patio Homes,
referred to as the "property."
1.04. By Resolution No. 97-9, adopted February 4, 1997, (the "Fee Resolution")
the City Council imposed a housing improvement fee on Housing Units (as hereinafter
defined) in Housing Improvement Area NO.2 in order to finance certain housing
improvements in that area.
1.05. The Act authorizes the City to issue bonds in the amount necessary to
defray the expense to be incurred in making the housing improvements, which bonds
are payable primarily from proceeds of the fee imposed under the Fee Resolution and
may be further secured by the pledge of the City's full faith, credit and taxing power.
1.06. The Council has reviewed that certain Development Agreement (the
"Agreement") between the City and Westbrooke Patio Homes Association, (the
"Association"), setting out the respective obligations of the City and the Association
regarding the housing improvements and the Property.
Section 2. AQreement Approved.
.
2.01. The Mayor and City Manager are hereby authorized and directed to
execute the Agreement in substantially the form presented to the Council on this date,
subject to modifications that do not materially alter the City's rights and obligations
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under the Agreement and that are approved by the Mayor and the City Administrator,
which approval shall be conclusively evidenced by execution of the Agreement.
2.02. The Mayor and City Manager are hereby authorized and directed to take
any and all other steps necessary or convenient in order to carry out the City's
obligations under the Agreement.
Approved by the City Council of the City of Hopkins this 1 st day of April, 1997.