EDA Resolution 2026-10 (Request Public Hearing_Establish TIF 1-48)CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 2026-10
RESOLUTION REQUESTING A PUBLIC HEARING ON THE
ESTABLISHMENT OF TAX INCREMENT FINANCING DISTRICT NO. 1-48
BE IT RESOLVED, by the Board of Commissioners (the "Board") of the City of Monticello
Economic Development Authority (the "Authority") as follows:
WHEREAS, the City Council (the "Council") of the City of Monticello, Minnesota (the
"City") previously established its Central Monticello Redevelopment Project No. 1 (the
"Redevelopment Project") and has previously created multiple tax increment financing districts
within the Redevelopment Project, pursuant to Minnesota Statutes, Sections 469.174 to 469.1794,
as amended (the "TIF Act"), in an effort to encourage the redevelopment and development of
certain designated areas within the City; and
WHEREAS, the City has transferred the administration and control of its tax increment
financing districts to the Authority; and
WHEREAS, the Authority recognizes an ongoing need to encourage economic development
opportunities within the Redevelopment Project; and
WHEREAS, the Authority is proposing the creation of Tax Increment Financing District No.
1-48 (the "TIF District"), an economic development district, within the Redevelopment Project,
and the approval of a Tax Increment Financing Plan ('TIF Plan") for the TIF District, pursuant to
and in accordance with Section 469.175 of the TIF Act., for the purpose of acquiring and
constructing a warehouse and distribution facility and fostering the creation of jobs within the City
and State; and
WHEREAS, the creation of tax increment financing districts must be approved by the City
Council of the City after a duly noticed public hearing.
NOW, THEREFORE BE IT RESOLVED by the Board as follows:
1.The Authority hereby requests that the Council call for a public hearing to be held on August
10, 2026 or a later date to be determined by the Executive Director in accordance with the TIF
Act, to consider the proposed establishment of the TIF District and the adoption of a TIF Plan
for the TIF District, and to cause notice of said public hearing to be given as required by law.
2.The Authority directs the Executive Director to transmit copies of the TIF Plan to the Planning
Commission of the City and requests the Planning Commission's written opinion indicating
whether the proposed TIF Plan is in accordance with the Comprehensive Plan of the City,
prior to the date of the public hearing.
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