EDA Resolution 2026-05 (Approve First Amdt WiHa Private Dvpt Contract)CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 2026-05
RESOLUTION APPROVING A FIRST AMENDMENT TO
CONTRACT FOR PRIVATE DEVELOPMENT
(WHIA TOOLS)
WHEREAS, the City of Monticello Economic Development Authority (the "Authority")
Authority and the City of Monticello, Minnesota (the "City") have previously approved a Tax
Increment Financing Plan (the "TIF Plan") for Tax Increment Financing District No. 1-46 (Wiha
Tools) (the "TIF District") located within the Central Monticello Redevelopment Project Area No. 1
(the "Redevelopment Project"), pursuant to Minnesota Statutes, Sections 469.001 to 469.047,
Sections 469.090 to 469.1081, and Sections 469.174 to 469.1794, all inclusive and as amended
(collectively, the "Act"); and
WHEREAS, the Authority and Willi Hahn Corporation, a Minnesota corporation (the
"Developer") entered into that certain Contract for Private Development, dated as of July 13,
2022 (the "Original Agreement"); and
WHEREAS, pursuant to the Original Agreement, the Developer agreed to construct an
approximately 78,400 square foot manufacturing facility located within the City (the "Minimum
Improvements") in exchange for tax increment financing assistance from the Authority in the
amount of $576,012; and
WHEREAS, the Original Agreement includes a business subsidy agreement under
Minnesota Statutes, Sections 1161993 to 116J.9955 as amended (the "Business Subsidy Act"),
which sets forth certain job and wage goals to be satisfied by the Developer prior to the
compliance date as set forth therein (the "Compliance Date"); and
WHEREAS, the Developer has requested an extension of the Compliance Date for up to
one year and the City Council of the City (the "Council") held a duly noticed public hearing on
this date hereof as required by Section 116J.994, subdivision 5 of the Business Subsidy Act
regarding the extension of the Compliance Date; and
WHEREAS, the parties desire to execute and deliver this First Amendment to the
Contract for Private Development (the "Amendment") to amend the Original Agreement to reflect
the extension of the Completion Date and to provide additional time for the Developer to create
the required full-time jobs; and
NOW THEREFORE, BE IT RESOLVED BY the Board of Commissioners ("Board") of
the City of Monticello Economic Development Authority (the "Authority") as follows:
(a) The Authority is hereby authorized to enter into the Amendment, together with
any related documents necessary in connection therewith, and all other documents, exhibits,
certifications, or consents referenced in or attached to the Amendment or necessary to effectuate
the transaction described therein (the "Amendment Documents").
(b) The Board hereby authorizes the President and Executive Director, in their
discretion and at such time, if any, as they may deem appropriate, to execute the Amendment
Documents on behalf of the Authority, and to carry out, on behalf of the Authority, the
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Authority's obligations thereunder when all conditions precedent thereto have been satisfied. The
Amendment Documents shall be in substantially the form on file with the Authority and the
approval hereby given to the Amendment Documents includes approval of such additional details
therein as may be necessary and appropriate and such modifications thereof, deletions therefrom
and additions thereto as may be necessary and appropriate and approved by legal counsel to the
Authority and by the officers authorized herein to execute said documents prior to their
execution; and said officers are hereby authorized to approve said changes on behalf of the
Authority. The execution of any instrument by the appropriate officers of the Authority herein
authorized shall be conclusive evidence of the approval of such document in accordance with the
terms hereof. This resolution shall not constitute an offer and the Amendment Documents shall
not be effective until the date of execution thereof as provided herein.
(c) In the event of absence or disability of the officers, any of the documents
authorized by this resolution to be executed may be executed without further act or authorization
of the Board by any duly designated acting official, or by such other officer or officers of the
Board as, in the opinion of the City Attorney, may act in their behalf. Upon execution and
delivery of the Amendment Documents, the officers and employees of the Board are hereby
authorized and directed to take or cause to be taken such actions as may be necessary on behalf of
the Board to implement the Amendment Documents.
Approved by the Board of Commissioners of the City of Monticello Economic
Development Authority on April 13, 2026.
Pr sident
ATTEST:
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