City Council Resolution 1982-60RESOLUTION ADOPTING TAX
INCREMENT FINANCE PLAN #1
HRA 82 - 2
#60
WHEREAS, the Monticello Housing and Redvelopment Authority (HRA) has
passed a resolution adopting a redevelopment plan known as the Central
Monticello Redevelopment Plan, and;:
WHEREAS, the Central Monticello Redevelopment Plan in part, states ob-
jectives for economic development, to wit, land acquisition as an incen-
tive to private enterprise and;
WHEREAS, pursuant to Minnesota Statutes 273, the City of Monticello is
authorized to establish a Tax Increment Economic Development Finance
Plan, and;
WHEREAS, a development agreement for economic development shall be
entered into between the Monticello Housing and Redevelopment Authority
and IXI Laboratories, Inc., the developer.
NOW THEREFORE, BE IT HEREBY RESOLVED by the Housing and Redevelopment
Authority of the City of Monticello that:
1. The Tax Increment Economic Development Finance Plan known as
the Oakwood Industrial Park Tax Increment Finance Plan (A copy
of which is attached hereto) be, and the same hereby is,
adopted.
2. The City Administrator transmits copies of said plan to the
City Council with a request for a public hearing.
3. Upon the holding of a public hearing, the east 180 feet of
Lot 7, Block 3, Oakwood Industrial Park, be certified to the
County Auditor of Wright County, State of Minnesota, as Oak-
wood Industrial Park Tax Increment District #l.
Adopted this 29th day of November, 1982.
u
Philip White, Chairman
ATTEST:
_.--~
Thomas A. Eidem
City Administrator