1990-055
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CITY OF HOPKINS
RESOLtrrION NO. 90- 55
RESOLUTION APPROVING
TAX INCREMENT FINANCING PLAN
FOR TAX INCREMENT FINANCING DISTRICT NO. 2-4
WITHIN REDEVELOPMENT PROJECT NO. 2
BE IT RESOLVED by the City Council ("Council") 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 for th in the document ti tIed
"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
need to establish Tax Increment Financing District No. 2-4 ("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 enti tIed "Tax Increment
Financing Plan, Tax Increment Financing District No. 2-4 within
Redevelopment Project No.2, Ci ty 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. 2-4 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 Authority
approved the TIF Plan and referred it to the Council for public
hearing and consideration as provided by the HRA 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 interested persons were heard.
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Section 2.
Findings; Tax Increment Financing 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. 2-4 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 wi th the sound needs of the Ci ty 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 accomplish the objectives specified in
the TIF Plan.
2.07. The City finds that TIF District No. 2-4 is a
redevelopment TIF District within the meaning of Section 469.174,
subd. 10 (a) (1) of the TIF Act, because parcels consisting of 70
percent of the TIF Distr ict' s area are occupied by buildings or
other improvements, and more than 50 percent of the buildings are
structually substandard to a degree requiring substantial
renovation or clearance.
2.08. The Ci ty has relied upon the
recommendations of its staff and the Authori ty as
personal knowledge of members of the Council in
conclusions regarding TIF District No. 2-4.
reports
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Section 3.
ication; Filing.
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 wi th
the HRA and TIF Act.
3.02.
The TIF Plan is hereby approved and adopted.
3.03. The geographic boundaries of TIF Distr ict No. 2-4
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. 2-4 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 wi th the Minnesota Commissioner of Revenue as
required by the TIF Act.
3.06. At the request of the Authority, the City may at
the appropr iate 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
Minnesota this 30th day of April, 1990.
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CITY OF HOPKINS
Hennepin County, Minnesota
RESOLUTION NO: 90-55 A
RESOLUTION DECLARING ADEQUACY OF PETITION
AND ORDERING PREPARATION OF FEASIBILITY REPORT
ON ALLEY IMPROVEMENTS
WHEREAS, a certain petition requesting the improvement of an
alley in the 200 block of 13th and 14th Avenues North,
north of the Chicago & Northwestern Railway R.O.W.,
filed with the Council on May 1, 1990, is hereby
declared to be signed by the required percentage of
owners of property affected thereby. This declaration
is made in conformity to Minnesota Statutes, section
429.035.
NOW THEREFORE, be it resolved by the City Council of Hopkins,
Minnesota, that the proposed improvement be referred to
the engineering supervisor for study and that he is
instructed to report to the Council with all convenient
speed advising the Council in a preliminary way as to
whether the proposed improvement is feasible and as to
whether it should best be made as proposed or in
connection with some other improvement, and the
estimated cost of the improvement as recommended.
FURTHERMORE, funds in the amount of $1,500 are appropriated to
prepare this feasibility report.
Adopted by the City Council of the City of Hopkins, Minnesota,
this first day of May, 1990.
d
Nelson