HRA Resolution 1990-03-!/,i � )
Councilmember Tom St. Hilaire introduced the following
resolution, the reading of which was dispensed with by unanimous
consent, and moved its adoption:
HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE
CITY OF MONTICELLO
WRIGHT COUNTY
STATE OF MINNESOTA
RESOLUTION NO. _ 90 -3
A RESOLUTION RELATING TO THE MODIFICATION, BY
THE HOUSING AND REDEVELOMENT AUTHORITY IN AND
FOR THE CITY OF MONTICELLO, OF THE
REDEVELOPMENT PLAN RELATING TO REDEVELOPMENT
PROJECT NO. 1, THE MODIFICATION OF THE TAX
INCREMENT FINANCING PLANS RELATING TO TAX
INCREMENT FINANCING DISTRICTS NOS. 1 -1 THROUGH
1 -8 AND THE APPROVAL AND ADOPTION OF THE TAX
INCREMENT FINANCING PLAN RELATING TO TAX
INCREMENT FINANCING DISTRICT NO. 1 -9, ALL
LOCATED WITHIN REDEVELOPMENT PROJECT NO. 1.
BE IT RESOLVED by the Commissioners (the "Commissioners ") of
the Housing and Redevelopment Authority (the "Authority ") in and
for the City of Monticello, Minnesota (the "City "), as follows:
Section 1. Recitals.
1.01. It has been proposed that the Authority modify, by
increased project costs, Redevelopment Project No. 1, pursuant to
and in accordance with Minnesota Statutes, Sections 469.001 to
469.047, inclusive, as amended. It has been further proposed
that the Authority modify, by increased project costs, the Tax
Increment Financing Plans relating to Tax Increment Financing
Districts Nos. 1 -1 through 1 -8 and establish Tax Increment
Financing District No. 1 -9 and approve and adopt the Tax
Increment Financing Plans relating thereto, all located within
Redevelopment Project No. 1, pursuant to and in accordance with
Minnesota Statutes, Sections 469.174 to 469.179, inclusive, as
amended.
HRA Resolution 90 -2
Page 2
1.02. The Authority has investigated the facts and has
caused to be prepared a proposed Modified Redevelopment Plan (the
"Modified Redevelopment Plan ") for Redevelopment Project No. 1,
defining more precisely the increased project costs to be made to
Redevelopment Project No. 1, the proposed Modified Tax Increment
Financing Plans for Tax Increment Financing Districts Nos. 1 -1
through 1 -8 and Tax Increment Financing Plan (the "Tax Increment
Financing Plan ") for Tax Increment Financing District No. 1 -9
(collectively referred to as the "Plans ").
1.03. The Authority and the City have performed all actions
required by law to be performed prior to the modification of
Redevelopment Project No. 1, the modification of Tax Increment
Financing Districts Nos. 1 -1 through 1 -8 and the establishment of
Tax Increment Financing District No. 1 -9 and the adoption of the
Plans relating thereto.
1.04. The Authority hereby determines that it is necessary
and in the best interest of the City at this time to modify
Redevelopment Project No. 1, to modify Tax Increment Financing
Districts Nos. 1 -1 through 1 -8 and to establish Tax Increment
Financing District No. 1 -9 and approve the Plans relating
thereto, and to request that the City Council (the "Council ")
hold a public hearing relating to the above - stated matters.
Section 2. Approval of the Modified Redevelopment Plan for
Redevelopment Project No. 1.
2.01. Subject to the finding, determination, and approval of
the Modified Redevelopment Plan for Redevelopment Project No. 1
by the City Council of the City, the Modified Redevelopment Plan
for Redevelopment Project No. 1 is hereby approved by the
Commissioners of the Authority. The increased project costs
shall be described in the Modified Redevelopment Plan for
Redevelopment Project No. 1 approved in Section 4 hereof.
Section 3. Approval of the Tax Increment Financing Plans for
Tax Increment Financing Districts No. 1 -1 through 1 -9.
3.01. Subject to the finding, determination, and approval of
the Modified Tax Increment Financing Plans for Tax Increment
Financing Districts Nos. 1 -1 through 1 -8 and Tax Increment
Financing Plan for Tax Increment Financing District No. 1 -9 by
the Council of the City, the Tax Increment Financing Plans for
Tax Increment Financing Districts Nos. 1 -1 through 1 -9 are
hereby approved by the Commissioners of the Authority.
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HRA Resolution 90 -2
Page 3
Section 4. Approval of the Respective Plans.
4.01. The Plans presented
hereby approved and adopted by
warded to the Council with the
public hearing relating to the
Redevelopment Project No. 1 any
Nos. 1 -1 through 1 -9.
to the Authority on this date, are
the Authority and shall be for -
request that the Council hold a
adoption of the Plans for
3 Tax Increment Financing Districts
Section 5. Disposition of Public Lands,
5.01. The Authority held a public hearing, as of this date,
regarding the disposition of public lands. The Authority hereby
verifies that said public hearing was held and duly authorizes
the City Attorney and City staff to proceed with the implementation
of the necessary documentation relating to said disposition of
public lands.
Section 6. Filing of Plans.
6.01. The Authority shall cause the Plans, all as approved
and adopted, to be filed with the Office of the Minnesota
Department of Trade and Economic Development.
Dated _February 7, 1990
.' Chairman
Attest: _.
Executive Director
(SEAL)
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