HRA Resolution 1985-4HRA RESOLUTION 1985 #4
A RESOLUTION APPROVING A TAX INCREMENT
FINANCE DISTRICT AND FINANCE PLAN AND
REQUESTING THE CITY COUNCIL OF THE CITY
OF MONTICELLO TO SET A PUBLIC HEARING
WHEREAS, The Housing and Redevelopment Authority in and for the
City of Monticello (the "Authority ") is carrying out the Monticello
Redevelopment Project (the "Project ") and Redevelopment Plan (the "Plan"
pursuant to the approval of the City Council of the City of Monticello )�
(the "City "); and
WHEREAS, John Bergstad has proposed development of a 25 unit
multiple housing for elderly residential building on Lots 1 -6 of Block 39_
Lower Monticello, and
WHEREAS, said parcel is situated in the Redevelopment Project
Area, as modified; and
WHEREAS, the Authority recommends that the Bergstad Project be
undertaken as rapidly as possible and be financed with local funds including
tax increment financing as authorized by Minnesota Statutes, Sections 273.71
through 273.78; and
WHEREAS, there was presented to this meeting of the governing
body of the Authority for its consideration and approval, a copy of
a tax increment finance entitled Tax Increment Housing District #7;
NOW, THEREFORE, BE IT RESOLVED by the governing body, Housing
and Redevelopment Authority in and for the City of Monticello:
1. That the project described in said Tax Increment Finance Housing
Plan No. 7 contains blighted, obsolete and deteriorated or deterioration
areas as defined in the Minnesota Municipal Housing and Redevelopment
Act, Minnesota Statutes, Section 462.421, Subdivision 13, and requires
public assistance in order to eliminate said blighted, deteriorating
and economically obsolete areas.
2. The said Plan and Project will carry out the purpose and policy
of the Municipal Housing and Redevelopment Act of the State of Minnesota,
Minnesota Statutes, Section 462.415 to 462.711 as set forth in Section
462.415.
3. The said Tax Increment Housing District and Tax Increment Finance
Plan hereby in all respects approved and the Secretary is hereby
directed to file said 'Housing Plan with the Minutes of this meeting.
4. Application is hereby made to the City Council of the City of Monticello,
the governing body of the City in which said project is located,
for the approval of said Plan and project area, and the staff of
this Authority is authorized to transmit said Plan to said City
Council, together with a copy of this Resolution, a plan for financing
the project including the adoption of the tax increment financing
plan atd to take such other action as the said staff may deem necessary
and advisable in order to secure from said City Council its approval
of said Plan and project.
Resolution 1985 #4
Page Two
Said City Council is hereby requested to hold a public hearing on
said Tax Increment Finance Housing Plan No. 7 after giving published
notice of the date, time, place and purpose of such hearing in a
newspaper of general circulation in the City of Monticello, such
notice to be published at least ten days and no more than 30 days
prior to the date of the hearing.
Said City Council is hereby requested to approve said Plan and to
find by Resolution that: (1) the land in the project area would
not be viable for housing redevelopment without the financial aid
to be sought; (2) the plan for the housing district in the locality
will afford maximum opportunity, consistent with the sound needs
of the locality as a whole, for the redevelopment of such areas
by private enterprise; and (3) the tax increment housing district
and tax increment financing plan conforms to a general plan for
the development of the locality as a whole, and (4) that the project
will result in increased housing opportunities and will result in
the preservation and enchancement of the tax base of the municipality.
Said staff is hereby authorized and directed to transmit to the
State Department of Energy and Economic Development, Office of Local
Government, certified copies of this Resolution, of said Plan, and
other papers and documents described or referred to in Minnesota
Statutes, Section 462.445, Subdivision 8 of said Municipal Housing
and Redevelopment Act.
Adopted this 12th day of November, 1985.
; ar Wieber /V Chair HRA
ATTEST:
Olive M. Koropchak
Director of Economic Development