HRA Resolution 2006-10MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY
CITY OF MONTICELLO
WRIGHT COUNTY
STATE OF MINNESOTA
RESOLUTION NO. 2006 -10
RESOLUTION ADOPTING THE MODIFICATIONS TO THE TAX INCREMENT
FINANCING PLANS FOR TAX INCREMENT FINANCING DISTRICT NOS. 1 -2
(REDEVELOPMENT DISTRICT) AND 1 -24 (QUALIFIED HOUSING DISTRICT)
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 the Modifications to the Tax Increment Financing Plans for Tax Increment Financing District Nos. 1 -2
and 1 -24 (the "Modifications ") therefore, 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 Modifications and presented for the Board's consideration; and
WHEREAS, the HRA has investigated the facts relating to the Modifications and has caused the
Modifications to be prepared; and
WHEREAS, the City has performed all actions required by law to be performed prior to the adoption
of the Modifications, including but not limited to, notification of Wright County and Independent School
District No. 882 and the holding of a public hearing upon published notice as required by law. The City has
also received a recommendation from the City Planning Commission that the Modifications are consistent
with the general development plans of the City.
NOW, THEREFORE, BE IT RESOLVED by the Board as follows:
1. The HRA hereby makes the findings set forth in the Modifications, which are incorporated
herein by reference.
2. The adoption of the Modifications conform in all respects to the requirements of the Act and
will help fulfill a need to develop an area of the State which is already built up, to provide employment
opportunities, to improve the tax base and to improve the general economy of the State and thereby serves a
public purpose and 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 development financially feasible.
3. Conditioned upon the approval thereof by the City Council following its public hearing
thereon, the Modifications, as presented to the HRA on this date, is hereby approved, established and
adopted and shall be placed on file in the office of the Executive Director of the HRA.
Approved by the Board of Commissioners of the Monticello Housing and Redevelopment Authority
this 7th day of June, 2006.
T
Chair
ATTES J':
Secretay/ ---o
�9�