City Council Resolution 2026-29 (SCPD Kids Haven)CITY OF MONTICELLO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO. 2026-29
RESOLUTION APPROVING A SMALL CITIES DEVELOPMENT PROGRAM (SCDP) REVOLVING LOAN
BY THE CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY TO KIDS HAVEN OF
MONTICELLO HOLDINGS, LLC AND KIDS HAVEN OF MONTICELLO, LLC
WHEREAS, the Board of Commissioners of the City of Monticello Economic
Development Authority has received a proposal from Kids Haven of Monticello Holdings, LLC, a
Minnesota limited liability company and Kids Haven of Monticello, LLC, a Minnesota limited
liability company (collectively, the "Borrower"), that the City of Monticello Economic
Development Authority (the "EDA") enter into a Loan Agreement (the "Loan Agreement" and
together with related documents, the "Loan Documents") in connection with a loan to the
Borrower in the amount of $250,000 (the "Loan"), pursuant to the EDA's Small Cities
Development Program (SCDP) Revolving Loan Fund (the "Program"), created to assist businesses
in the City with financing certain economic development activities to meet the goals set forth in
the guidelines approved by the EDA for the Program (the "Guidelines"); and
WHEREAS, pursuant to the Program, the Guidelines and the Loan Documents, the
Borrower intends to use the Loan in connection with the purchase of playground equipment for a
new childcare facility to be located in the City (the "Property"); and
WHEREAS, after a duly noticed public hearing held on March 11, 2026, the EDA
approved the Loan and the Loan Documents, copies of which are on file with the City Clerk.
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Monticello as follows:
Section 1. Business Subsidy.
1.01. The Loan constitutes a business subsidy within the meaning of Minnesota Statutes,
Section 116J.993 to 116J.995, as amended (the "Business Subsidy Act"), and the Loan Agreement
includes a "business subsidy agreement" as required under the Business Subsidy Act.
1.02. The City has adopted a Business Subsidy Policy (the "Subsidy Policy"), which sets
the general criteria for all types of subsidies granted by the EDA, all as required under the Business
Subsidy Act.
1.03. On March 11, 2026, the EDA held a public hearing on the Loan in accordance with
the Business Subsidy Act.
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Section 2. Consent.
2.01 In accordance with Section 116J.994, Subd. 3(d) of the Business Subsidy Act, the
City hereby approves the Loan Agreement including the business subsidy agreement provided
therein and consents to the EDA entering into the Loan Documents with the Borrower.
2.02 The City hereby approves the Loan in accordance with the Loan Documents in
substantially the forms on file with the City's Economic Development Manager together with such
modifications thereof, deletions therefrom and additions thereto as may be necessary and
appropriate and approved by legal counsel to the EDA and by the President and Executive Director
of the EDA prior to executing said documents and the City further; and said officers are hereby
authorized to approve said changes on behalf of the EDA. The execution of any instrument by the
President and Executive Director shall be conclusive evidence of the approval of such document in
accordance with the terms hereof.
Approved by the City Council of the City of Monticello this 27th day of April, 2026.
C
Mayor
ATTEST:
4922-6832-2191.1
I HEREBY CERTIFY that the above is a true and correct copy of a resolution presented to and
adopted by the Municipality of Monticello, County of Wright, State of Minnesota, at a duly
authorized Municipal Council Meeting held in the Municipality of Monticello, Minnesota on the 27th
day of April, 2026, as disclosed by the records of said Municipality on file and of record in the office.
Municipality of Monticello