City Council Resolution 2020-57RESOLUTION NO. 2020-57
RESOLUTION AUTHORIZING ADMINISTRATION OF
CORONAVIRUS RELIEF FUNDS BY THE CITY OF MONTICELLO
ECONOMIC DEVELOPMENT AUTHORITY
WHEREAS, the City of Monticello ("City") has received Coronavirus Relief Funds
("Funds") from the State of Minnesota, as authorized by Congress pursuant to the Coronavirus
Aid, Relief, and Economic Security Act ("CARES Act"); and
WHEREAS, the CARES Act authorizes the City to transfer all or a portion of the Funds
to other units of government; and
WHEREAS, the CARES Act authorizes Funds to be used for grants to small businesses
to reimburse the costs of business interruption caused by required closures; and
WHEREAS, the City of Monticello Economic Development Authority (the "Authority")
proposes to administer up to $200,000 of the Funds pursuant to its previously established Small
Business Emergency Grant Assistance Program (the "Program"), the purpose of which is to help
offset costs for small businesses in Monticello that have been directly impacted by the COVID-
19 pandemic; and
WHEREAS, the City Council has determined that transferring the administration of a
portion of the Funds to the Authority for Program purposes is in the best interests of the City and
that the Funds designated for Program uses will comply with federal and state guidelines for the
use of the Funds under the CARES Act.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Monticello that the City Administrator and staff are authorized and directed to transfer the
administration of a portion of the Funds, in the amount of two hundred thousand dollars
($200,000), to the City of Monticello Economic Development Authority for the purpose of
providing grants to small businesses through its Small Business Emergency Grant Assistance
Program in accordance with federal and state guidelines for expending the Funds.
Adopted by the Monticello City Council this 27th day of July, 2020.
A TEST:
it Clerk
1
Mayor