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HRA Resolution 1992-02Commissioner Lowell Schrupp 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. 92 -2 A RESOLUTION RELATING TO THE MODIFICATION, BY THE HOUSING AND REDEVELOPMENT 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 -13 AND THE APPROVAL AND ADOPTION OF THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 1 -14, 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. -1- 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 -13 and establish Tax Increment Financing District No. 1 -14 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. 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 -13 and Tax Increment Financing Plan (the "Tax Increment Financing Plan ") for Tax Increment Financing District No. 1 -14 (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 -13 and the establishment of Tax Increment Financing District No. 1 -14 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 -13 and to establish Tax Increment Financing District No. 1 -14 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. -2- 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 Nos. 1 -1 throu h 1 -14. 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 -13 and Tax Increment Financing Plan for Tax Increment Financing District No. 1 -14 by the Council of the City, the Tax Increment Financing Plans for Tax Increment Financing Districts Nos. 1 -1 through 1 -14 are hereby approved by the Commissioners of the Authority. Section 4. Approval of the Respective Plans. 4.01. The Plans presented to the Authority on this date, are hereby approved and adopted by the Authority and shall be forwarded to the Council with the request that the Council hold a public hearing relating to the adoption of the Plans for Redevelopment Project No. 1 and Tax Increment Financing Districts Nos. 1 -1 through 1-14. Section 5. Disposition of Public bands. 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. -3- 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 Minnesota Department of Trade and Economic Development. Dated: July 6. 1992 Chairman Attest: - z) �'� "ZV-N - 011ie Koropchak, Executive Director (SEAL) M!