1999 ResolutionsECONOMIC DEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF MONTICELLO, MINNESOTA
RESOLUTION NO. 99-3.
Resolution recommending the City Council actively pursue the acquisition of the
Goeman/Chadwick properties for industrial development
and authorize city staff to begin preparation thereof.
WHEREAS, the Monticello Economic Development Authority ("Authority")
endorses the City of Monticello Comprehensive Plan and the Community Vision and Governing
Policies; and
WHEREAS, the Authority endorses the economic development efforts of the City of
Monticello through the administration of the Greater Monticello Enterprise Fund and the
Downtown Monticello Revitalization Fund; and
WHEREAS, the Authority understands the Monticello Housing and Redevelopment
Authority previously committed a total of $150,000 toward the acquisition or development of
industrial land; and
WHEREAS, the Authority understands the City Council previously committed $150,000
for acquisition or development of industrial land; and
NOW THEREFORE, BE IT RESOLVED by the Board of Commissioners of the
Monticello Economic Development Authority as follows:
Acquisition of said properties will control land prices.
2. Acquisition of said properties will control and simplify development schedules.
3. Acquisition of said properties will diversify ownership of industrial lands.
4. Acquisition of said properties will provide for a competitive market.
5. Acquisition of said properties will allow for flexibility in deal structuring.
6. Preparation for acquisition of said properties places the City of Monticello first in-
line to acquire.
EDA Resolution No
Page 2
99- 1
Adopted by the Board of Commissioners of the Monticello Economic Development
Authority this 14th day of June , 1999.
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EDA Chair
ATTEST:
Executive Director