The Hopkins City Council decided what had been a contentious dispute between the Meadow Creek Condos association and a group of roughly 10 Meadow Creek condo owners on Monday night, approving a plan which stipulates that roughly $130,000 in disputed capital improvement funds be earmarked for two specific renovation projects at the sprawling condominium complex.
The resolution which saw nearly ninety minutes of testimony about the disputed funds, “excess fee revenue” from a 1995 bond sale Hopkins undertook on Meadow Creek’s behalf.
Due to allegations of property mismanagement, the group of owners asked that the city delay turning over the money until a lawsuit they had filed against the condo board had been settled. The association—Minnesota’s largest, representing 536 units that house more than 1100 people—gained statewide attention in 2009 when it nearly went bankrupt.
At its June 19 meeting the council asked that the two sides come together to mediate, with Mayor Gene Maxwell offering to step in as mediator if need be. After learning that the two sides had not met since June, Maxwell quickly moved to have the council make a decision.
“I think I heard enough at the June 19 meeting, and we’ll leave it at that,” he said.
The resolution passed Monday night specifies that $65,000 will be placed in a fund that will be used to replace exterior doors, while another $65,000 will be dedicated to outfitting the building with smoke detectors in the hallways.
The condo association had petitioned that the full $130,000 be returned to their control, arguing that they were bound by the original bond issuance to use the money for capital improvements anyway.
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