EDA Resolution 2019-06 Recommending City Council Call for Public Hearing for TIF District #1-41CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 2019-06
RESOLUTION REQUESTING A PUBLIC HEARING ON THE
ESTABLISHMENT OF TAX INCREMENT FINANCING DISTRICT NO. 1-41
BE IT RESOLVED, by the Board of Commissioners (the "Board") of the City of Monticello
Economic Development Authority (the "Authority") as follows:
WHEREAS, the City Council (the "Council") of the City of Monticello, Minnesota (the
"City") previously established its Central Monticello Redevelopment Project No. 1 (the
"Redevelopment Project") and has previously created multiple tax increment financing districts
within the Redevelopment Project, pursuant to Minnesota Statutes, Sections 469.174 to 469.1794,
as amended (the "TIF Act"), in an effort to encourage the redevelopment of certain designated
areas within the City; and
WHEREAS, the City has transferred the administration and control of its tax increment
financing districts to the Authority; and
WHEREAS, the Authority recognizes an ongoing need to encourage economic development
opportunities within the Redevelopment Project; and
WHEREAS, the Authority is proposing the creation of Tax Increment Financing District No.
1-41 (the "TIF District"), an economic development district, within the Redevelopment Project,
and the approval of a Tax Increment Financing Plan ("TIF Plan") for the TIF District, pursuant to
and in accordance with Section 469.175 of the TIF Act, for the purpose of assisting the expansion
of a manufacturing facility and fostering the creation of jobs within the City; and
WHEREAS, the creation of tax increment financing districts must be approved by the City
Council of the City after a duly noticed public hearing.
NOW, THEREFORE BE IT RESOLVED by the Board as follows:
1. The Authority hereby requests that the Council call for a public hearing to be held on
September 23, 2019 to consider the proposed establishment of the TIF District and the
adoption of a TIF Plan for the TIF District, and to cause notice of said public hearing to be
given as required by law.
2. The Authority directs the Executive Director to transmit copies of the TIF Plan to the Planning
Commission of the City and requests the Planning Commission's written opinion indicating
whether the proposed TIF Plan is in accordance with the Comprehensive Plan of the City,
prior to the date of the public hearing.
3. The Executive Director of the Authority is hereby directed to submit a copy of the TIF Plan
to the Council for its approval.
593617v2MN 190-101
4. The Authority directs the Executive Director to transmit the TIF Plan to Wright County and
Independent School District No. 882 (Monticello Public Schools) not later than August 23,
2019.
5. Staff and consultants are authorized and directed to take all other steps necessary to prepare
the TIF Plan and related documents and to undertake other actions necessary to bring the TIF
Plan before the Council.
Adopted by the Board of Commissioners of the City of Monticello Economic Development
Authority this 31 st day of July, 2019.
President
Attest:
593617v2MN190-101