EDA Resolution 2021-10CITY OF MONTICELLO
ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO.2021-10
AUTHORIZING THE LEVY OF
A SPECIAL BENEFIT TAX PURSUANT TO MINNESOTA STATUTES,
SECTION 469.033, SUBDIVISION 6 AND
APPROVING A BUDGET FOR FISCAL YEAR 2022
WHEREAS, pursuant to Minnesota Statutes, Sections 469.090 through 469.1081, as
amended, the City Council of the City of Monticello, Minnesota (the "City") previously created the
City of Monticello Economic Development Authority (the "Authority"); and
WHEREAS, the Authority is authorized to exercise all powers and duties of a housing and
redevelopment authority under the provisions of Minnesota Statutes, Sections 469.001 to 469.047
(the "HRA Act"); and
WHEREAS, Section 469.033, subd. 6, of the HRA Act permits the Authority to levy and
collect a special benefit tax of up to 0.0185 percent of taxable market value in the City, levied upon
all taxable real property within the City, to finance the Authority's economic development and
redevelopment activities; and
WHEREAS, the special benefit tax levy authorized by Section 469.033, subd. 6 of the HRA
Act is separate and distinct from the City's levy and is not subject to the City's levy limits; and
WHEREAS, the Authority desires to levy a special benefit tax in the amount of 0.0185
percent of taxable market value in the City; and
WHEREAS, the Authority has determined to adopt a budget for fiscal year 2022 that
provides for the levy of the special benefit tax in the amount of 0.0185 percent of taxable market
value of property in the City, to be used for the Authority's economic development and
redevelopment activities.
NOW, THEREFORE, Be It Resolved by the Board of Commissioners ("Board") of the City
of Monticello Economic Development Authority as follows:
1. The Board hereby approves a budget of $425,000 (excluding TIF district and loan
activity) for fiscal year 2022, including the levy of a special benefit tax in an amount
not to exceed $388,000, subject to approval of such budget by the City Council prior
to September 30, 2021.
2. Staff of the Authority is hereby authorized and directed to file the budget with the
City in accordance with Minnesota Statutes, Section 469.033, Subdivision 6, and
request that the City Council consider approval of the special benefits tax levy.
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3. There is hereby levied a special benefit tax pursuant to Minnesota Statutes, Section
469.0331 Subdivision 6, in an amount not to exceed $388,000 with respect to taxes
payable in calendar year 2022, contingent upon the approval of the City Council.
4. Staff of the Authority is hereby authorized and directed to take such other actions as
are necessary to levy and certify such levy upon approval by the City Council.
Approved by the Board of Commissioners of the City of Monticello Economic
Development Authority this 11th day of August, 2021.
4Prside
Attest:
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