EDA Resolution 2009-40CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 2009-40
RESOLUTION APPROVING A 2009 TIF ANALYSIS AND MANAGEMENT PLAN
BE IT RESOLVED By the Board of Commissioners ('Board ") of the City of Monticello
Economic Development Authority ( "Authority ") as follows:
Section 1. Recitals.
1.01. whereas on November 13, 2008 the City of Monticello and Northland Securities
entered into an agreement for the completion of a comprehensive TIF Analysis and Management
Plan.
1.02. whereas Northland Securities was contracted to complete an in depth analysis of the
Cities exiting Tax Increment Financing districts.
1.03. whereas City Staff and Northland Securities as worked in great coordination to
provide an accurate data base the City can use in the present and future.
1.04. whereas Northland Securities fulfilled their contract by providing a final TIF
Analysis and Management Plan to City Staff, the EDA, and the City Council.
1.05 whereas the Economic Development Director and the Finance Director for the City
of Monticello find the material contained in the TIF Analysis and Management Plan to be as
accurate as possible and believe Northland Securities has provided appropriate recommendations
for future action items.
Section 2. NOW THEREFORE BE IT RESOLVED:
2.01. The EDA supports the final TIF Analysis and Management Plan prepared by
Northland Securities and will continue to work with City Staff to complete appropriate action steps
as generally guided in the management plan.
Approved by the Board of Commissioners of the City of Monticello Economic
Development Authority this I f1l day of August 12, 2009.
President