City Council Resolution 1997-09CITY OF MONTICELLO
WRIGHT COUNTY
STATE OF MINNESOTA
Council member Roger Carlson introduced the following resolution and moved its adoption:
RESOLUTION NO. 97-9
RESOLUTION MODIFYING CENTRAL MONTICELLO REDEVELOPMENT
PROJECT NO. 1 AND ADOPTING THE MODIFIED REDEVELOPMENT PLAN
THEREFOR AND MODIFYING TAX INCREMENT FINANCING DISTRICT NO.
1-17 AND ADOPTING THE MODIFIED TAX INCREMENT FINANCING PLAN
THEREFOR.
BE IT RESOLVED by the City Council (the "Council") of the City of Monticello, Minnesota (the
"City"), as follows:
Section 1. Recitals.
1.01. It has been proposed that the City Council (the"Council") of the City of Monticello (the
"City") modify Central Monticello Redevelopment Project No. 1 (the "Redevelopment Project No. 1") and
adopt the Modified Redevelopment Plan therefor and modify Tax Increment Financing District 1-17 ("District
No. 1-17") and adopt the Modified Tax Increment Financing Plan therefor (collectively, the "Modified Plans")
all pursuant to and in accordance with Minnesota Statutes, Sections 469.001 to 469.047 and Sections 469.174
to 469.179, inclusive, as amended (the "Acts"), all as reflected in the Modified Plans and presented for the
Council's consideration.
1.02. The Council has investigated the facts relating to the Modified Plans.
1.03. The City has performed all actions required by law to be performed prior to the adoption and
approval of the proposed Modified Plans, including, but not limited to, notification of Wright County and
School District No. 882 having taxing jurisdiction over the property currently included in District No. 1-17,
a review of and written comment on the Modified Plans by the City Planning Commission, and the holding
of a public hearing upon published notice as required by law.
1.04. Certain written reports from the developer and their financing institutions (the "Reports")
relating to the Modified Plans and to the activities contemplated therein have heretofore been prepared and
submitted to the Council and/or made a part of the City files and proceedings on the Modified Plans. The
Reports include data, information and/or substantiation constituting or relating to (1) the "studies and analyses"
on why the modification to District No. 1-17 meets the so-called "but for" test; and (2) the bases for the other
findings and determinations made in this resolution. The Council hereby confirms, ratifies and adopts the
Reports, which are hereby incorporated into and made as fully a part of this resolution to the same extent as
if set forth in full herein.
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Resolution 97-9
' Page 2
Section 2
Findings for the Adoption and Approval of the Modified Plans.
2.01. The Council hereby finds that the Modified Plans, are intended and, in the judgement of this
Council, the effect of such actions will be, to provide an impetus for development in the public purpose and
accomplish certain objectives as specified in the Modified Plans, which are hereby incorporated herein.
Section 3. Findings for the Establishment of Tax Increment Financing District No. 1-22.
3.01. The Council hereby reaffirms its previous finding that Tax Increment Financing District No.
1-17 is in the public interest and is an "economic development district" under Minnesota Statutes, Section
469.174, subd. 12.
3.02. The Council further finds that the proposed developments would not occur solely through
private investment within the reasonably foreseeable future, that the Modified Plans conform to the general
plan for the development or redevelopment of the City as a whole; and that the Modified Plans will afford
maximum opportunity consistent with the sound needs of the City as a whole, for the development of District
No. 1-17 by private enterprise in that the intent is to provide only that public assistance necessary to make the
private developments financially feasible.
3.03. The Council further finds, declares and determines that the City made the above findings
stated in this Section and has set forth the reasons and supporting facts for each determination in writing,
attached hereto as Exhibit A.
Section 4. Approval and Adoption of the Modified Plans.
4.01. The Modified Plans, as presented to the Council on this date, including without limitation the
findings and statements of objectives contained therein, are hereby approved, ratified, established, and adopted
and shall be placed on file in the office of the Executive Director of the HRA.
4.02. The staff of the City, the City's advisors and legal counsel are authorized and directed to
proceed with the implementation of the Modified Plans and to negotiate, draft, prepare and present to this
Council for its consideration all further plans, resolutions, documents and contracts necessary for this purpose.
4.03 The staff of the City are also authorized to file the Modified Tax Increment Financing Plan
for Tax Increment Financing District No. 1-17 with the State Department of Revenue.
The motion for the adoption of the foregoing resolution was duly seconded by Council member
Clint Herbst ,and upon a vote being taken thereon, the following voted in favor thereof:
Bill Fair, Clint Herbst, Brian Stumpf, Roger Carlson, Bruce Thielen
and the following voted against the same:
None
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esolution 97-9
" Page
Dated: March 10, 1997
Mayor
(Sea])
AT T:
City Administra r
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EXHIBIT A
RESOLUTION # 97-9
The reasons and facts supporting the finds for the adoption of the Modified Tax Increment Financing Plan
for District No. I-17 as required pursuant to Minnesota Statutes, Sections 469.175, Subdivision 3 are as follows:
Finding that the District No. 1-17 is an economic development district as defined in Minnesota Statutes,
Sections 469.174, Subdivision 12.
District No. 1-17 is in the public interest because it will discourage commerce, industry, or manufacturing
from moving their operations to another state or municipality and it will result in increased employment in
the state.
2. Finding that the proposed development, in the opinion of the Council, would not occur solely through
private investment within the reasonably foreseeable future and therefore the use of tax increment is deemed
necessary.
Due to the high cost of development on the parcel and the cost of financing the proposed improvements, this
project is feasible only through assistance, in part, from tax increment financing.
Finding that the Modified Tax Increment Financing Plan for District No. 1-17 conforms to the general plan
for the development or redevelopment of the municipality as a whole.
The Modified Tax Increment Financing Plan was reviewed by the Planning Commission on March 4, 1997.
The Planning Commission found that the Modified Tax Increment Financing Plan conforms to the general
development plan of the City.
4. Finding that the Modified Tax Increment Financing Plan for District No. 1-17 will afford maximum
opportunity, consistent with the sound needs of the City as a whole, for the development of Central
Monticello Redevelopment Project No. 1 by private enterprise.
The project to be assisted by Tax Increment Financing District No. 1-17 will result in increased employment
in the City and the State of Minnesota, increased tax base of the State, and add a high quality development
to the City.
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