HRA Resolution 2002-02#'
MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY
CITY OF MONTICELLO
WRIGHT COUNTY
STATE OF MINNESOTA
RESOLUTION NO. 02 -02
RESOLUTION ADOPTING A MODIFICATION TO THE REDEVELOPMENT
PLAN FOR CENTRAL MONTICELLO REDEVELOPMENT PROJECT NO. 1;
AND ESTABLISHING TAX INCREMENT FINANCING DISTRICT NO. 1 -29
WITHIN CENTRAL MONTICELLO REDEVELOPMENT PROJECT NO. 1 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 for Central Monticello Redevelopment
Project No. 1 and establish Tax Increment Financing District No. 1 -29 and adopt a Tax Increment
Financing Plan therefor, (collectively, the "Plans "), all pursuant to and in conformity with applicable law,
including Minnesota Statutes, Sections 469.001 through 469.047, and Sections 469.174 to 469.179,
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 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 hereby finds that Tax Increment Financing District No. 1 -29 is in the public
interest and is a "housing district" under Minnesota Statutes, Section 469.174, Subd. 11, and finds that the
adoption of the proposed Plans conform in all respects to the requirements of the Act and will help fulfill
a need to develop an area of the State of Minnesota which is already built up and that the adoption of the
proposed Plans will help provide need for affordable housing and thereby serves a public purpose.
2. 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.
3. Conditioned upon the approval thereof by the City Council following its public hearing
thereon, the Plans, as presented to the HRA on this date, are hereby approved, established and adopted
and shall be placed on file in the office of the City Clerk.
4. Upon approval of the Plans by the City Council, the City Clerk is authorized and directed
to forward a copy of the Plans to the Minnesota Department of Revenue pursuant to Minnesota Statutes
469.175, Subd. 4a.
5. The City Clerk is authorized and directed to forward a copy of the Plans to the Wright
County Auditor and request that the 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 Redevelopment
Authority this 6th day of March, 2002.
Chair
ATTEST:
Secretary