Loading...
City Council Resolution 2006-45CITY OF MONTICELLO COUNTY OF WRIGHT STATE OF MINNESOTA Council member Stumpf introduced the following resolution and moved its adoption: RESOLUTION NO. 2006 -45 RESOLUTION ADOPTING MODIFICATIONS TO THE TAX INCREMENT FINANCING PLANS FOR TAX INCREMENT FINANCING DISTRICT NOS. 1 -2 (REDEVELOPMENT DISTRICT) AND 1 -24 (QUALIFIED HOUSING DISTRICT) BE IT RESOLVED by the City Council (the "Council!') of the City of Monticello, Minnesota (the "City"), as follows: Section 1. Recitals 1.01. The Board of Commissioners (the 'Board") of the Monticello Housing and Redevelopment Authority (the "HRA ") in and for the City ofMonticello (the "City") has heretofore established Tax Increment Financing District Nos. 1 -2 and 124 and adopted the Tax Increment Financing Plans therefor. There is a proposal to modify the Tax Increment Financing Plans (the "Modifications "), for Tax Increment Financing District Nos. 1 -2 and 1-24 (the "Districts "), all pursuant to and in conformity with applicable law, including Minnesota Statutes, Sections 469.001 to 469.047, and Sections 469.174 to 469.1799, inclusive as amended (the "Act "), all as reflected in the Modifications, and presented for the Council's consideration. 1.02. The HItA and City have investigated the facts related to the Modifications and have caused the Modifications to be prepared. 1.03. The HRA has requested approval by the City of the proposed Modifications. 1.04. The City has performed all actions required by law to be performed prior to the adoption and approval of the proposed Modifications, including, but not limited to, notification of Wright County and Independent School District No. 882, the holding of a public hearing upon published notice as required by law and the receipt of a recommendation from the Planning Commission that the Modifications are consistent with the general development plans for the City. 1.05. The City is not modifying the boundaries nor terms of the Districts but is, however modifying the budgets in the Tax Increment Financing Plans. Section 2. Findings for the Modifications 2.01. The Council hereby reaffirms the original findings for the. Districts. In addition, the City makes the following findings: (a) The Modifications conform to the general plan for development or redevelopment ofthe City as a whole. The reason for supporting this finding is that the Modifications will generally complement and serve to implement policies adopted in the City's comprehensive plan. Section 3. Public ose 3.01. The adoption of the Modifications conform in all respects to the requirements of the Act and will help fulfill a need to develop an area of the State which is already built up, to provide employment opportunities, to improve the tax base and to improve the general economy of the State and thereby serves a public purpose and will afford maximum opportunity, consistent with the sound needs for the Cityas a whole, for the development or redevelopment of the project area by private entmTTise in that the intent is to provide only that public assistance necessary to mare the private development financially feasible. Section 4. Approval and Adoption of the Modifications: Filing 4.01. The Modifications are hereby approved, and shall be placed on file in the office of the City Administrator. Approval of the Modifications does not constitute approval of any project or a development agreement with any developer. 4.02. The staff of the City are authorized to file the Modifications with the Commissioner of the Minnesota Department of Revenue, the Office of the State Auditor and the Wright County Auditor. 4.03. The staff of the City, the City's advisors and legal counsel are authorized and directed to proceed with the implementation of the Modifications and for this purpose to negotiate, drat, prepare and present to this Council for its consideration all further modifications, resolutions, documents and contracts necessary for this purpose. The motion for the adoption of the foregoing resolution was duly seconded by Council member Perrault , and upon a vote being taken thereon, the following voted in favor thereof- Clint Herbst, Wayne Mayer, Tom Perrault, Glen Posusta and Brian Stumpf and the following voted against the same: None Dated: June 12, 2006 . r_'&- Mayor (Seal) City Administrator