HRA Resolution 2005-04MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY
CITY OF MONTICELLO
WRIGHT COUNTY
STATE OF MINNESOTA
RESOLUTION NO. 2005_04
RESOLUTION ADOPTING A MODIFICATION TO THE REDEVELOPMENT
PLAN FOR CENTRAL MONTICELLO REDEVELOPMENT PROJECT NO. 1
AND ESTABLISHING TAX INCREMENT FINANCING DISTRICT NO. 1 -34
THEREIN AND ADOPTING A TAX INCREMENT FINANCING PLAN
THEREFOR.
WHEREAS, it has been proposed by the Board of Commissioners (the "Board ") of the
Monticello Housing and Redevelopment Authority (the "HRA ") and the City of Monticello (the "City ")
that the HRA adopt a Modification to the Redevelopment Plan ( "Redevelopment Plan Modification ") for
Central Monticello Redevelopment Project No. 1 (the "Project ") and establish Tax Increment Financing
District No. 1 -34 and adopt a Tax Increment Financing Plan (the "TIF Plan ") therefor (the Redevelopment
Plan Modification and the TIF Plan are referred to collectively herein as the "Plans "), all pursuant to and
in conformity with applicable law, including Minnesota Statutes, Sections 469.001 to 469.047, and
Sections 469.174 to 469.1799, inclusive, as amended (the "Act "), all as reflected in the Plans and
presented for the Board's consideration; and
WHEREAS, the HRA has investigated the facts relating to the Plans and has caused the Plans to
be prepared; and
WHEREAS, the HRA has performed all actions required by law to be performed prior to the
adoption of the Plans. The HRA has also requested the City Planning Commission to provide for review
of and written comment on the Plans and that the Council schedule a public hearing on the Plans upon
published notice as required by law.
NOW, THEREFORE, BE IT RESOLVED by the Board as follows:
1. The HRA approves the Redevelopment Plan Modification, and specifically finds that: (a)
the land within the Project area as expanded would not be available for redevelopment without the
financial aid to be sought under this Redevelopment Plan; (b) the Redevelopment Plan, as modified, will
afford maximum opportunity, consistent with the needs of the City as a whole, for the development of the
Project by private enterprise; and (c) that the Redevelopment Plan, as modified, conforms to the general
plan for the development of the City as a whole.
2. The HRA approves the TIF Plan for Tax Increment Financing District No. 1 -34, and
specifically finds that such district is a "renewal and renovation district" under Minnesota Statutes,
Section 469.174, Subd. l Oa, and finds that the Plans conform in all respects to the requirements of the Act
and will help fulfill a need to redevelop an area of the State of Minnesota which is underutilized, and that
the adoption of the proposed TIF Plan will preserve and enhance the tax base of the City and the State
because it redevelop substandard areas, provide an impetus for commercial and industrial development by
improving the efficiency of the transportation system, including access to the interstate highway system
and roads adjacent to the interchange with the interstate highway, and thereby serves a public purpose.
3. The HRA further finds that the Plans will afford maximum opportunity, consistent with
the sound needs for the City as a whole, for the development or redevelopment of the project area by
private enterprise in that the intent is to provide only that public assistance necessary to make the private
developments financially feasible.
4. The reasons and facts supporting the findings in this resolution are described in the Plans.
5. Upon approval of the Plans by the City Council, the staff, the HRA's advisors and legal
counsel are authorized and directed to proceed with the implementation of the Plans and for this purpose
to negotiate, draft, prepare and present to this Board for its consideration all further plans, resolutions,
documents and contracts necessary for this purpose. Approval of the Plans does not constitute approval
of any project or agreement with any developer.
6. Upon approval of the Plans by the City Council, the Executive Director of the HRA is
authorized and directed to forward a copy of the Plans to the Minnesota Department of Revenue and the
Office of the State Auditor pursuant to Minnesota Statutes 469.175, Subd. 4a.
7. The Executive Director of the HRA is authorized and directed to forward a copy of the
Plans to the Wright County Auditor and request that the Wright County Auditor certify the original tax
capacity of the District as described in the Plans, all in accordance with Minnesota Statutes 469.177.
Approved by the Board of Commissioners of the Monticello Housing and R?, velopment
Authority this 27th day of June, 2005.
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ATTEST:
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Secretary