HRA Resolution 1996-8HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF MONTICELLO
RESOLUTION NO. 96 -8
RESOLUTION MODIFYING THE REDEVELOPMENT PLAN FOR CENTRAL
MONTICELLO REDEVELOPMENT PROJECT NO.1 AND ESTABLISHING TAX
INCREMENT FINANCING DISTRICT NO. 1 -21 AND APPROVING AND
ADOPTING THE MODIFIED CENTRAL MONTICELLO REDEVELOPMENT
PLAN AND TAX INCREMENT FINANCING PLAN RELATING THERETO,
LOCATED WITHIN CENTRAL MONTICELLO REDEVELOPMENT PROJECT
NO. 1.
BE IT RESOLVED by the Board of Commissioners of the Monticello Housing and Redevelopment
Authority ( "Authority ") of the City of Monticello, Minnesota ( "City ") as follows:
WHEREAS, the City Council (the "Council ") of the City of Monticello (the "City ") has proposed to
modify the Central Monticello Redevelopment Plan (the "Redevelopment Plan ") for Central Monticello
Redevelopment Project No. 1 and establish Tax Increment Financing District No. 1 -21. ( "District No. 1 -21 "),
all pursuant to and in accordance with Minnesota Statutes, Sections 469.001 to 469.047 and Minnesota
Statutes, Sections 469.174 to 469.179, inclusive, as amended; and
WHEREAS, the Authority and the Council have investigated the facts and have caused to be prepared
a modified Redevelopment Plan for Central Monticello Redevelopment Project No. 1 and a Tax Increment
Financing Plan for Tax Increment Financing District No. 1 -21, (collectively, the "Plans "); and
WHEREAS, proposed developments as described in the Plans in the opinion of the Authority, would
not reasonably be expected to occur solely through private investment within the reasonable foreseeable future
and, therefore, the use of tax increment financing is deemed necessary; and
WHEREAS, the Authority and City have performed all actions required by law to be performed prior
to the modification of Central Monticello Redevelopment Project No. 1 and the establishment of Tax
Increment Financing District No. 1 -21, including, but not limited to, notification of Wright County and School
District No. 882 having taxing jurisdiction over the property included in Tax Increment Financing District No.
1 -21, a scheduled review by the City Planning Commission of the Plans, and the scheduled holding by the
Council of a public hearing upon published notice as required by law.
BE IT RESOLVED by the Board of Commissioners of the Monticello Housing and Redevelopment
Authority of the City of Monticello, as follows:
1. The Plans are hereby approved and adopted and shall be placed on file in the office of the
Executive Director.
2. Subject to the approval of the Plans by the City Council, the staff, the Authority'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.
3. Upon approval of the Plans by the City Council, the Executive Director is authorized to forward
a copy of the Plans to the Wright County Auditor and the Minnesota Department of Revenue pursuant to
Minnesota Statutes 469.175, subdivision 2.
Approved by the Board of Commissioners of the Monticello Housing and Redevelopment Authority
of the City of Monticello this 6TH day of NOVEMBER, 1996
T
Chaff
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