1992-107
.
WHEREAS,
WHEREAS,
WHEREAS,
WHEREAS,
WHEREAS,
.
WHEREAS,
WHEREAS,
CITY OF HOPKINS
Hennepin County, Minnesota
RESOLUTION NO: 92-107
RESOLUTION CANCELING ASSESSMENTS FOR THE
PURCHASE OF MARK Z. JONES PROPERTY
the Minnehaha Oaks Association, a non profit corporation, and
property owners who own and occupy single family homes located
along Hiawatha Avenue within the City of Hopkins requested the
City of Hopkins acquire certain undeveloped property lying
adjacent to and west of Hiawatha Avenue, and
the undeveloped property was owned by Mark Z. Jones and consists
of heavily forested trees which the Minnehaha Oaks Association
and property owners desired to be preserved for passive park and
nature area purposes for them and for the community as a whole,
and
the City of Hopkins agreed to acquire the property and the
property owners agreed to reimburse acquisition costs incurred by
the City through a special assessment, and
the City of Hopkins, Minnehaha Oaks Association and four property
owners entered into a special assessment agreement dated 4/15/92
which set forth the terms under which the affected property
owners would be assessed, and
on October 20, 1992 the City Council adopted Resolution No. 92-89
which adopted the assessment roll relating to the purchase of the
Mark Z. Jones property, and
the City discussed with the Minnehaha Oaks Association and
property owners an alternative method to reimburse the City for
the cost of the acquisition of the property. This alternative
method involves a direct loan to the Minnehaha Oaks Association
with the understanding that the property owners would be assessed
if the Minnehaha Oaks Association defaulted on the terms of the
loan, and
the City Council of the City of Hopkins has determined that using
the alternate loan arrangement provides a more appropriate means
of reimbursing the City of Hopkins for the acquisition of the
Mark Z. Jones property.
NOW THEREFORE BE IT RESOLVED, by the City Council of the City of Hopkins
that the assessment roll for the acquisition of the Mark Z. Jones
property, which was adopted by Resolution No. 92-89, is hereby
canceled and that this assessment roll shall not to be certified
to Hennepin County provided the Minnehaha Oaks Association and
property owners sign the necessary loan agreements by November
25, 1992.
Adopted by the City Council of the
November, 1992.
.
ATTEST:
Clerk