Winnetka Partners Ltd. Partnership v. County of Hennepin

OPINION

TOMLJANOVICH, Justice.

The facts in this ease are undisputed. Appellant, Winnetka Partners Limited Partnership (Winnetka) owns an apartment complex in the City of New Hope known as New Hope Terrace. On July 28,1986, Winnetka’s predecessor, New Hope Terrace Limited Partnership, in exchange for tax increment financing, entered into a minimum assessment agreement with the Housing and Redevelopment Authority of New Hope (HRA). The agreement set the market value' of the property at a minimum value of $6,000,000 to be increased 2 percent per annum compounded. The Hennepin County Assessor…