EDA Resolution 2015-001CITY OF MONTICELLO
ECONOMIC DEVELOPMENT AUTHORITY
WRIGHT COUNTY, MINNNESOTA
RESOLUTION NO. EDA -2015 -001
APPROVING THE ELIMINATION OF PARCELS FROM TAX
INCREMENT FINANCING DISTRICT NO. 1 -22 WITHIN CENTRAL
MONTICELLO REDEVELOPMENT PROJECT NO.1
WHEREAS, it has been proposed that the City of Monticello Economic Development
Authority (the "Authority ") approve the elimination of parcels from Tax Increment Financing
District No. 1 -22 (the "District ") within Central Monticello Redevelopment Project No. 1, pursuant
to Minnesota Statutes, Sections 469.174 through 469.1794, as amended (the "TIF Act "); and
WHEREAS, the District was originally established and the Tax Increment Financing Plan
( "TIF Plan") for the District was approved on March 10, 1997; and
WHEREAS, the following properties (the "Parcels "), by property identification numbers,
were among those parcels included in the District:
155010034010
155010034080
155010034020
155010034101
155010034030
155010034102
155010034040
155010034120
155010034060
155010034130
155010034070
155010034140
155010034150
WHEREAS, the Authority desires by this resolution to amend the TIF Plan to remove the
Parcels from the District, thereby reducing the size thereof; and
WHEREAS, the total current net tax capacity of the Parcels equals or exceeds the net tax
capacity allocable to the Parcels in the original net tax capacity of the District and, therefore this
amendment to the TIF Plan is authorized pursuant to Section 469.175, Subdivision 4, clause
(e)(2)(A) of the TIF Act.
NOW THEREFORE, BE IT RESOLVED by the Authority that the TIF Plan for the
District is hereby amended to remove the Parcels, and Authority staff is authorized and directed to
notify the County Auditor thereof pursuant to- Section 469.175, Subdivision 4, clause (e) of the
TIF Act.
CITY OF MONTICELLO
ECONOMIC DEVELOPMENT AUTHORITY
WRIGHT COUNTY, MINNNESOTA
RESOLUTION NO. EDA- 2015 -001
Approved this 14th day of January, 2015, by the Board of Commissioners of the City of Monticello
Economic Development Authority.
ATTEST:
Exec Director
EXTRACT OF MINUTES OF A MEETING OF THE
CITY OF MONTICELLO
ECONOMIC DEVELOPMENT AUTHORITY
WRIGHT COUNTY, MINNESOTA
HELD: January 14, 2015
Pursuant to due call and notice thereof, a regular meeting of the City of Monticello
Economic Development Authority, Wright County, Minnesota, was duly held at the Monticello
Community Center Hall on Wednesday, the 14th day of January, 2015 at 6:00 p.m. for the purpose,
in part, of approving the elimination of parcels from Tax Increment Financing District No. 1 -22
within Central Monticello Redevelopment Project No. 1.
The following Commissioners were present: Demeules, Hinz, Perrault, Hilgart, Davidson,
Johnson and the following were absent: Bill Tapper
Commissioner Hilgart introduced the resolution and moved its adoption. The motion for
the adoption of the resolution was duly seconded by Commissioner Johnson and upon vote being
taken thereon, the following voted in favor: Demeules, Linz, Perrault, Hilgart, Davidson, Johnson
and the following voted against the same: None
Whereupon said resolution was declared duly passed and adopted.
CERTIFICATION
STATE OF MINNESOTA )
ss.
COUNTY OF WRIGHT )
I, the undersigned, being the duly qualified and Executive Director /Secretary of the City
of Monticello Economic Development Authority, DO HEREBY CERTIFY that the attached
resolution is a true and correct copy of an extract of minutes of a meeting of the Board of
Commissioners of the City of Monticello Economic Development Authority, duly called and held,
as such minutes relate to approving the elimination of parcels from Tax Increment Financing
District No. 1 -22 within Central Monticello Redevelopment Project No. 1;
WITNESS my hand as such Executive Director /Secretary of the City of Monticello
Economic Development Authority this 14th day of January, 2015.
Execute e Director /Secretary