City Council Resolution 2026-87 (Decertification of RIF 1-24)CITY OF MONTICELLO
WRIGHT COUNTY
STATE OF MINNESOTA
RESOLUTION NO. 2026-87
RESOLUTION APPROVING THE DECERTIFICATION OF
TAX INCREMENT FINANCING DISTRICT NO. 1-24
BE IT RESOLVED by the City Council of the City of Monticello, Wright County, Minnesota
(the "City'), as follows:
Section 1. Recitals.
1.01. By a resolution adopted on August 24, 1998, the City and the Housing and
Redevelopment Authority in and for the City of Monticello established Tax Increment Financing
District No. 1-24 (the "TIF District"), a housing district located within Central Monticello
Redevelopment Project No. 1, and approved a tax increment financing plan for the TIF District,
all pursuant to Minnesota Statutes, Sections 469.174 through 469.1794, as amended (the "TIF
Act"). The administration of the TIF District was subsequently transferred to the City of
Monticello Economic Development Authority (the "Authority").
1.02. It has been proposed that the City and the Authority decertify the TIF District.
1.03. As of the date hereof, the projects have been completed, all obligations to which
tax increment from the TIF District has been pledged have been paid in full or defeased, and the
City has determined that it is in the best interests of the City to terminate and decertify the TIF
District.
Section 2. Findings for Decertification. Subject to the adoption by the Authority of a
resolution approving the decertification on October 141 2026, the TIF District shall be decertified
as of the date hereof. Any remaining increments not eligible for spending, as determined by
Authority and City staff, will be returned to Wright County (the "County') for redistribution in
accordance with the TIF Act.
Section 3. Direction to City Staff. The Clerk shall provide a certified copy of this
resolution to the County Auditor/Treasurer of the County (the "County Auditor") so that the TIF
District may be decertified on the books and records of the County Auditor with no further tax
increment from the TIF District being remitted to the Authority or the City. Authority and City
Staff are authorized and directed to determine the amount of tax increments to be returned to
the County for redistribution, if any, and to transmit a copy of this resolution to the County with
a request to de -certify the TIF District, it being the intent of the City that no further collection of
tax increment from the TIF District will be distributed to the Authority or the City after September
28, 2026.
The motion for the adoption of the foregoing resolution was duly made by Councilmember
(AVkS�kVx&0V)and seconded by Councilmember C�?Gito1e V' , and upon vote being taken
thereon, the following voted in favor thereof:
Christianson, Gabler, Hilgart, Hinz, Martie
and the following voted against:
None
Whereupon said resolution was declared duly passed and adopted by the Monticello City Council this
28th day of September 2026.
CITY OF MONTICELLO
--L:;? /- - VI/
Lloyd Hilgart, Mayor
ATTEST:
Jen fifer Sch b®r,ity Clerk
STATE OF MINNESOTA )
COUNTY OF WRIGHT ) SS.
CITY OF MONTICELLO )
I, the undersigned, being the duly qualified and acting City Clerk of the City of Monticello,
Minnesota, do hereby certify that I have carefully compared the attached and foregoing extract of
minutes of a regular meeting of the City Council held on September 28, 2026, with the original
thereof on file in my office and the same is a full, true and complete transcript therefrom insofar as
the same relates to the decertification of Tax Increment Financing District No. 1-24.
WITNESS My hand as City Clerk and this 281" day of September, 2026.
(City, Clerk Nv,
y of Monti Ilo, Minnesota