1990-054
CITY OP HOPKINS
RESOLUTION NO. 90-54
RESOLUTION APPROVING
TAX INCREMENT FINANCING PLAN
FOR TAX INCREMENT FINANCING DISTRICT NO. 2-3
WITHIN REDEVELOPMENT PROJECT NO. 2
BE IT RESOLVED by the City Council ("Council n) of the City
of Hopkins, Minnesota ("City") as follows:
Section 1. Recitals.
1.01. By resolution dated November 7, 1989, the Housing
and Redevelopment Authority ("Authority") in and for the City of
Hopkins approved a modified Redevelopment Plan for Redevelopment
Project No. 2 ("Project") as set forth in the document titled
"Reorganization and Modification of Redevelopment Projects and
Tax Increment Financing Districts, City of Hopkins Housing and
Redevelopment Authority, City of Hopkins, Minnesota."
1.02. Within the Project, the Authority has determined a
n ed to establish Tax Increment Financing District No. 2-3 ("TIF
District") and a Tax Increment Financing Plan ("TIF Plan")
therefor, pursuant to Minn. Stat., Section 469.001 through
469.047 ("HRA Act") and Minn. Stat., Section 469.174 through
469.179 ("TIF Act").
1.03. The Authority has caused to be prepared a TIF
Plan, which is contained in a document entitled "Tax Increment
Financing Plan, Tax Increment Financing District No. 2-3 within
Redevelopment Project No.2, City of Hopkins Housing and
Redevelopment Authority, City of Hopkins, Minnesota," dated April
30, 1990.
1.04. Estimates of the fiscal impact regarding TIF District
No. 2-3 were provided to Independent School District No. 270 and
Hennepin County 30 days before the Council's public hearing on
the TIF Plan.
1. 05. By resolution dated April 30, 1990, the Author i ty
approved the TIF Plan and referred it to the Council for public
hearing and consideration as provided by the BRA Act and TIF Act.
1.06. This Council has fully reviewed the contents of the
TIF Plan and has this date conducted a public hearing thereon at
which the views of all in~erested persons were heard.
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Section 2.
Findinqs; Tax Increment Financinq District.
2.01. The City finds and determines that it is necessary
and desirable for the sound and orderly redevelopment of the
Redevelopment Project and the City as a whole, and for the
protection and preservation of the public health, safety, and
general welfare, that the powers of the TIF Act be exercised by
the Authority and the City to provide public financial assistance
to Redevelopment Project No.2.
2.02. The City further finds that, in its reasoned
oplnlon, the redevelopment proposed in the TIF Plan for TIF
District No. 2-3 could not reasonably be expected to occur solely
through private investment within the reasonably foreseeable
future and that therefore the use of tax increment financing is
necessary.
2.03. The proposed public improvements to be financed
partially through tax increment financing are necessary to permit
the City to realize the full potential of the Redevelopment
Project in terms of development intensity, employment
opportunities and tax base.
2.04. The TIF Plan conforms to the general plan of
development of the City as a whole.
2.05. The TIF Plan will afford maximum opportunity,
consistent with the sound needs of the City as a whole, for the
redevelopment by private enterprise of Redevelopment Project No.
2.
2.06. The City finds that the TIF Plan is intended, and
in the City's reasoned judgment its effect will be, to promote
the public purposes and accompli~h the objectives specified in
the TIF Plan.
2.07. The City finds that TIF District No. 2-3 is a
redevelopment TIF District within the meaning of Section 469.174,
subd. 10(a)(2) of the TIF Act, because parcels consisting of 70
percent of the TIF District's area are occupied by buildings or
other improvements, at least 20 percent of the buildings are
structually substandard to a degree requiring substantial
renovation or clearance, and an additional 30 percent of the
buildings require substantial renovation or clearance in order to
remove such existing conditions as: inadequate street layout,
incompatible uses or land use relationships, overcrowding of
buildings on the land, excessive dwelling unit density, obsolete
buildings not suitable for improvement for conversion, or other
hazards to the health, safety and general well-being of the
community.
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2.08. The City has reI ied upon th
recommendations of its staff and the Authority as
personal knowledge of members of the Council in
conclusions regarding TIF District No. 2-3.
reports and
well as the
reaching its
Section 3.
ication; Filinq.
Actions Ratified;
Plans adopted; Certif-
3.01. The City hereby ratifies all actions of the City's
staff and the City's fiscal and legal consultants in preparing
the TIF Plan and arranging for its approval in accordance with
the HRA and TIF Act.
3.02.
The TIF Plan is hereby approved and adopted.
3.03. The geographic boundar ies of TIF District No. 2-3
are as described in the TIF Plan, which document is included
herein by reference.
3.04. The Authority is authorized and directed to
transmit a certified copy of this resolution together with a
certified copy of the TIF Plan to the Director of Property
Taxation of Hennepin County with a request that the original tax
capacity of the property within TIF District No. 2-3 be certified
to the Authority pursuant to Section 469.177, Subd. 1 of the TIF
Act.
3.05. The City also directs the Authority to file a copy
of the TIF Plan with the Minnesota Commissioner of Revenue as
required by the TIF Act.
3.06. At the request of the Authority, the City may at
the appropriate time take action to issue and sell its general
obligation bonds pursuant to the TIF Act to finance public
redevelopment costs identified in the TIF Plan.
3.07. The City reaffirms the Tax Increment Agreement
with the Authority, dated November 7, 1989, that is currently on
file in City Hall.
3.08. The City Clerk is authorized and directed to
transmit a certified copy of this resolution to the Authority.
Approved by the City Council of s,
Minnesota this 30th day of April, 1990.
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CITY OF HOPKINS
Hennepin County, Minnesota
RESOLUTION NO: 90-54 A
RESOLUTION APPROVING PLANS AND SPECIFICATIONS
CAMBRIDGE STREET RECONSTRUCTION, PROJECT 90-02,
AND AUTHORIZING THE ADVERTISING FOR BIDS
WHEREAS, pursuant to a resolution passed by the council on
February 6, 1990, plans and specifications for
reconstruction of Cambridge Street and the installation
of water main and storm sewer, between Blake Road and
Hiawatha Avenue, have been prepared by Toltz, King,
Duvall, Anderson and Associates and have presented such
plans and specifications to the council for approval.
NOW THEREFORE, BE IT RESOLVED by the city Council of Hopkins,
Minnesota:
1. Such plans and specifications, a copy of which are
attached hereto and made a part hereof, are hereby
approved and ordered placed on file in the office of the
City Clerk.
2. The City Clerk shall prepare and cause to be inserted in
the official paper and in the Construction Bulletin an
advertisement for bids upon the making of such
improvement under such approved plans and specifications.
The advertisement shall be published twice, at least ten
days before date set for bid opening, shall specify the
work to be done, shall state that bids will be received
by the clerk until 10:00 a.m., on the 1st day of June,
1990, at the City Hall and that no bids shall be
considered unless sealed and filed with the clerk and
accompanied by a certified check or bid bond, payable to
the City of Hopkins, Minnesota for 5% of the amount of
such bid.
3. The clerk and city engineer are hereby authorized and
instructed to receive, open, and read aloud bids received
at the time and place herein noted, and to tabulate the
bids received. The council will consider the bids, and
the award of a contract, at the regular city council
meeting of June 5, 1990, in the Council Chambers.
,
C
Gene11ie,
Adopted this 1st day of