HRA Resolution 1992-03HRA RESOLUTION NO. 92-3
A RESOLUTION BY THE HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF MONTICELLO, MINNESOTA, AUTHORIZING
TO ASSIST WITH THE ACQUISITION COSTS
OF LANDS TO
BRADLEY D. AND MARY E. BARGER
WHEREAS, both the Housing and Redevelopment
Authority in
and for
the City of
Monticello (the "Authority") and
Bradley D. and Mary E.
Barger (-tile
"Redeveloper") shall agree to the
terms of the
Contract
between the
Housing and Redevelopment Authority
in and for
the City
of Monticello and Bradley D. and Mary E.
Barger and
all the
convenants
therein; and
WHEREAS, the Housing and Redevelopment Authority in and for the
City of Monticello has adopted the Tax Increment Finance Plan
relating to Tax Increment Finance District No. 1-14; and
WHEREAS, the Council in and for the City of Monticelllo shall hold
a Public hearing and consider adoption of a resolution for the
Establishment of Tax Increment Finance District No. 1-14 and the
approval and adoption of the Tax Increment Finance Plan on August
10, 1992; and
WHEREAS, both the Housing and Redevelopment Authority in and for
the City of Monticello and Bradley D. and Mary E. Barger shall
agree to Twenty-nine Thousand Six Hundred Twenty-five Dollars and
no Cents ($29,625) as the level of Tax Increment Finance assistance
for the acquisition of raw lands described as:
Three acres of land located in Lot 10 of AUDITOR'S SUBDIVISION
NO. 1, according to the recorded map thereof, being in the
Northwest Quarter of the Northwest Quarter of Section 13,
Township 121, Range 25, Wright County, Minnesota lying
easterly of REMMELE ADDITION according to the recorded plat
thereof, lying southwest of Interstate No. 94 and lying
northeasterly of the northerly right of way of Chelsea Road.
Part of YID Number: 155-011-000101
NOW, THEREFORE, BE IT RESOLVED by the governing body of the Housing
and Redevelopment Authority in and for the City of Monticello finds
1
the redeve.Lopment to be in the public interest because:
1. It will discourage commerce, industry, or manufacturing
from moving their operations to another state; or
2. It will result in increased employment in the
municiplaity; or
HRA RESOLUTION
PAGE 2
3. it will result in preservation and enhancement of the tax
base of the municipality.
The Housing and Redevelopment Authority in and for the City of
Monticello, Minnesota, does hereby authorize to assist with the
acquisition costs in the form of a land write-down for the said
described raw lands to Bradley D. and Mary E. Barger.
Adopted by the Monticello Housing and Redevelopment Authority this
5 _ day of August, 1992.
,7irperson
ATTEST:
a ��
IRA Executive Director