City Council Resolution 2007-30CITY OF MONTICELLO
RESOLUTION NO. 200'-so
RESOLUTION AUTHORIZING
CONVEYANCE OF CITY PROPERTY TO THE
HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF MONTICI LO
BE IT RESOLVED by the City Council ("Council") of the City of Monticello ("the City")
as follows:
Section 1. Recitals.
1.01. The City has previously established the Central Monticello Redevelopment Project
No. 1 (the "Project'), which is currently administered by the Housing and Redevelopment Authority
in and for the City of Monticello (the "Authority").
1.02. The Authority has approved, and the City is considering approval, of a tax increment
financing plan ("TIF Plan") and a proposed Tax Increment Financing District No.1-38 (the "TIF
District") within the Project.
1.03. To facilitate redevelopment of certain property in the TIF District, the Authority
proposes to enter into a Purchase and Redevelopment Contract (the "Contract'l between the
Authority and WRE, LLC (the "Redeveloper'), under which among other things the Authority will
convey certain property described as Lot 2, Block 1, Otter Creek Crossing P Addition (the
"Redevelopment.Properly') to Redeveloper.
1.04. The City currently owns the Redevelopment Property.
1.05. The City is authorized to convey real property pursuant to Minnesota Statutes
Section 465.035 to any governmental subdivision for a nominal consideration, or pursuant to
Minnesota Statutes Section 471.64 to any other political subdivision of the State.
1.06. The Authority is a political subdivision of the State pursuant to Minnesota Statutes
Section 469.003, Subdivision 1.
1.07. The City finds and determines that conveyance of the Redevelopment Property to
the Authority is for a public purpose and is in the public interest because it will further the
objectives of the Project
1.08. The City finds and determines that conveyance by the Authority of the
Redevelopment Property to the Redeveloper is for a public purpose and is in the public interest
because it will further the objectives of the Project.
Section 2. Authorization.
2.01, The Council approves the conveyance of the Redevelopment Property to the
Authority by quit claim deed for consideration of $1.00, and authorizes and directs city staff and
officials to execute the deed and related documents necessary to facilitate the transaction referenced
herein and contemplated herein, with all such actions to be in accordance with the terms and
conditions set forth in this Resolution.
2.05. City stab and officials are authorized and directed to take any and all additional
steps and actions necessary or convenient in order to accomplish the intent of this Resolution.
Approved by the City Council of the City of Monticello this 23rd day of April, 2007.
Clint Herbst, Mayor
ATTEST:
D
Jeff , City Administrator