City Council Resolution 2023-105CITY OF MONTICELLO
WRIGHT COUNTY
STATE OF MINNESOTA
RESOLUTION NO.2023-105
RESOLUTION APPROVING TAX INCREMENT FINANCING POLICY
BE IT RESOLVED By the City Council (the "Council") of the City of Monticello, Minnesota
(the "City") as follows:
Section 1. Recitals.
1.01. Minnesota Statutes, Sections 469.174 through 469.1794, as amended (the "TIF
Act"), provides the City and the City of Monticello's Economic Development Authority (the "EDA")
with the authority to establish tax increment financing districts ("TIF Districts") within the City.
The EDA administers TIF Districts within the City.
1.02. The Council acknowledges that tax increment financing created through the
establishment of TIF Districts can be a valuable financing tool to further the development and
redevelopment objectives of the City and the EDA, and to that end, the EDA and the City have
caused to be updated certain criteria to guide the City and the EDA in awarding tax increment
financing pursuant to the TIF Act (the "Tax Increment Financing Policy").
Section 2. Tax Increment Financing Policy Approved.
2.01. The Council hereby approves the Tax Increment Financing Policy on file in City Hall,
which criteria supersedes any other prior Tax Increment Financing policy or criteria adopted by the
City.
2.02. City staff is hereby authorized to take all actions necessary to implement the Tax
Increment Financing Policy.
Approved by the City Council of the City of Monticello, Minnesota this 11th day of
December, 2023.
Mayor
ATTEST:
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Ci Clerk
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