1983 ResolutionsHRA RESOLUTIONS - 1983
1. Resolution establishing a fee for tax increment financing development.
2. Resolution Adopting tax increment finance plan #2.
3. Resolution setting fee for administrative expense.
4. Resolution adopting tax increment finance plan #3.
5. Resolution of the Housing and Redevelopment Authority of the City of
Monticello Authorizing Execution of a Tax Increment Pledge Agreement.
HRA RESOLUTION 1983 - #1
RESOLUTION ESTABLISHING A FEE FOR TAX
INCREMENT FINANCING DEVELOPMENT
WHEREAS, the Monticello Housing and Redevelopment Authority (HRA)
has the statutory power to establish tax increment financing
districts to assist developers, and;
WHEREAS, the Monticello HRA desires to avoid utilizing their power
to levy a special tax upon the central. Monticello redevelopment
area, and;
WHEREAS, there are expenses involved in establishing tax increment
districts that are not recovered by the collection of tax increment,
and;
WHEREAS, there are other operating expenses related to HRA business
for which a revenue source is required.
NOW THEREFORE, BE IT RESOLVED BY THE Housing and Redevelopment
Authority for the City of Monticello that:
1. A charge of 2% of all financial assistance granted to a
developer by the HRA or $2,500.00, whichever is less,
be and the same hereby is established.
2. This amount shall be paid to the HRA upon approval, by
the City Council, of the tax increment finance plan.
3. The HRA may waive said fee if it is determined that such
a waiver of the fee is in the best overall interests of.
the HRA and/or the City of Monticello..
Adopted this 13th day of
/ ~
City Administrator
July, 1983.
~ ~
Chair, Housing and Redevelopment Authority
RESOLUTION ADOPTING TAX INCREMENT FINANCE PLAN #2
HRA 1983 - #2
WHEREAS, the Monticello Housing and Redevelopment Authority (HRA)
has passed a resolution adopting a redevelopment plan known as
the Central Monticello Redevelopment Plan, and;
WHEREAS, the Central Monticello Redevelopment Plan in part, states
objectives for economic development to wit, land acquisition as an
incentive to private enterprise, and;
WHEREAS, pursuant to Minnesota Statutes 273, the City of l~ionticello
is authorized to establish a tax increment econcmic development
district, and;
WHEREAS, a development agreement for economic development shall be
entered into between the Monticello Housing and Redevelopment
Authority and Power's Strength and Health Club, the developer.
NOW THEREFORE, BE IT HEREBY RESOLVED by the Housing and Redevelop-
ment Authority for the City of Monticello:
1. The tax increment economic development finance plan relating
to tax increment district #2 be, and the same hereby is,
adopted.
2. The City Administrator transmit copies of said plan to the
City Council with a request for a public hearing, to the
Superintendent of Schools of School District #882 and to
the County Auditor of Wright County with a request for
comment .
3. Upon the holding of a public he~:ring, Lots 1, 2, 5 and 6
in Block 1 of Commercial Court and Lots 1, 2 and 3 in
Block 1 of Commercial Plaza 25 be certified to the County
Auditor of Wright County, State of Minnesota, as Monticello
tax increment district #2.
Adopted this 13th day of July, 1983.
r
Phil White, Chair
AT ST:
Thomas A. Eidem
City Administrator
HRA RESOLUTION 1983 - #3
RESOLUTION SETTING FEE FOR ADMINISTRATIVE EXPENSE
WHEREAS, the Monticello Housing and Redevelopment Authority
occurs "in house" expense in the preparation of tax increment
finance plans, and;
WHEREAS, the services rendered by City of Monticello personnel
and staff are subsidized by general taxation, and;
WHEREAS, it is the express opinion of the HRA that the
developer in any Tax Increment Financing Project should be
financially responsible for the expense related to the
preparation and subsequent certification of said plan.
NOW THEREFORE, BE IT HEREBY RESOLVED by the Housing and
Redevelopment Authority of the City of Monticello that a
charge equal to five percent (5~) of the total project cost,
excluding interest payable for debt retirement, be attached
to all proposals, said charge to cover administrative and
other "in house" expense.
Adopted this 9th day of August, 1983.
i
Phil White, Chairperson
RESOLUTION ADOPTING TAX
INCREMENT FINANCE PLAN ~~3
HRA 83 - 4
WHEREAS, the Monticello Housing and Redevelopment Authority (HRA) has
passed a resolution adopting a redevelopment plan known as the Central
Monticello Redevelopment Plan, and;
WHEREAS, the Central Monticello Redevelopment Plan in part, states ob-
jectives for economic development, to wit, land acquisition as an incen-
tive to private enterprise, and;
WHEREAS, pursuant to Minnesota Statutes 273, the City of Monticello is
authorized to establish a Tax Increment Economic Development Finance
Plan, and;
WHEREAS, a development agreement for downtown redevelopment shall be
entered into between the Monticello Housing and Redevelopment Authority
and Metcalf and Larson, the developer.
NOW' THEREFORE, BE IT HEREBY RESOLVED by the Housing and Redevelopment
Authority of the City of Monticello that:
1. The Tax Increment Redevelopment Finance Plan known as the
Monticello Tax Increment Finance Plan ~~3 (A copy of which
is attached hereto) be, and the same hereby is, adopted.
2. The City Administrator transmits copies of said plan to the
City Council with a request for a public hearing, and to the
office of the County Auditor and Superintendent of School
District ~k882.
3. Upon the holding of a public hearing and adoption by the
City Council, the property described in said plan be
certified to the County Auditor of Wright County, State
of Minnesota, as Monticello Tax Increment District ~~3.
Adopted this 13th day of September, 1983.
c~
Philip White, Chairman
ATTEST:
Thomas A. Eidem
City Administrator
RESOLUTION 1983 - 5
RESOLUTION OF THE HOUSING AND REDEVELOPMENT AUTHORITY
OF THE CITY OF MONTICELLO AUTHORIZING EXECUTION OF
A TAX INCREMENT PLEDGE AGREEMENT
WHEREAS, the Housing and Redevelopment Authority in and for the
City of Monticello (the "Authority") created the Central Monticello
Redevelopment Project (the "project"), prepared a redevelopment plan
(the "plan") for the project, which was approved by the City Council
of the City of Monticello (the "City") on September 26 , 1983 ;
and
WHEREAS, the Authority and the City have adopted a tax increment
financing plan pursuant to Minnesota Statutes, Section 273.74 and the
Authority has requested that the County Auditor of Wright County certify
the original assessed value of Monticello Tax Increment Redevelopment
District #2 describing such plan; and
WHEREAS, in order to finance the project, it is necessary that the
Authority and the City enter into a tax increment pledge agreement in
accordance with Minnesota Statutes, Section 273.77, pursuant to which
tax increment pledge agreement the Authority will pledge tax increment
generated by Monticello Tax Increment Redevelopment District #2 to
secure the principal of and interest on the General Obligation Tax
Increment Note of 1983 of the City, issued to finance the project, and
any additional bonds that may be issued to finance the project.
NOW, THEREFORE, BE IT RESOLVED BY THE HOUSING AND REDEVELOPMENT
AUTHORITY OF THE CITY OF MONTICELLO, MINNESOTA:
That the Chairman is hereby authorized and directed to execute
the tax increment pledge agreement (the "agreement''), on behalf of
the City in substantially the form attached hereto as Exhibit A and
incorporated herein by reference, and to deliver the signed agreement
for filing with the Wright County Assessor.
Adopted this 7th day of December, 1983.
~ ~~
Chairperson
AT TED:
City Administ ator