HRA Resolution 1994-05Commissioner BRADLEY BARGER 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. 94 -5
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
NO. 1 -1 THROUGH 1 -16 AND THE APPROVAL AND
ADOPTION OF THE TAX INCREMENT FINANCING
PLAN FOR TAX INCREMENT FINANCING DISTRICT NO.
1 -173, 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 and enlarged geographic area, Redevelopment Project No. 1,
pursuant to and in accordance with Minnesota Statutes, Sections 469.001 to
469.047, inclusive, as amended.
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It has been further proposed that the Authority modify, by increased project
costs, the Tax Increment Financing Plans relating to Tax Increment Financing
Districts No. 1 -1 through 1 -16 and establish Tax Increment Financing District
No. 1 -17 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 and enlarged geographic area to be made
to Redevelopment Project No. 1, the proposed Modified Tax Increment
Financing Plans for Tax Increment Financing Districts No. 1 -1 through 1 -16
and Tax Increment Financing Plan (the "Tax Increment Financing Plan ") for
Tax Increment Financing District No. 1 -17 (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. 111 the modification of Tax Increment Financing Districts
No.l- 1 through 1 -16 and the establishment of Tax Increment Financing
District No. 1 -17 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 No. 1 -1 through 1 -16
and to establish Tax Increment Financing District No. 1 -17 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. ADproval 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.
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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 through 1 -17.
3.01. Subject to the finding, determination, and approval of the
Modified Tax Increment Financing Plans for Tax Increment Financing
Districts No. 1 -1 through 1 -16 and Tax Increment Financing Plan for Tax
Increment Financing District No. 1 -17 by the Council of the City, the Tax
Increment Financing Plans for Tax Increment Financing Districts Nos. 1 -1
through 1 -17 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 -17.
Section 5. Filing of Plans.
5.01. The Authority shall cause the Plans, all as approved and
adopted, to be filed with the Minnesota Department of Revenue.
Dated: July 6, 1994 O/
Ch 'r
Attest:
011ie Koropchak, Executive Director
(SEAL)
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