City Council Resolution 2005-101Council member Posusta
CITY OF MONTICELLO
COUNTY OF WRIGHT
STATE OF MINNESOTA
introduced the following resolution and moved its adoption:
RESOLUTION NO. 2005-101
RESOLUTION APPROVING THE ELIMINATION OF PARCELS FROM TAX
INCREMENT FINANCING DISTRICT NO. 1-22 (WRIGHT COUNTY TIF
DISTRICT NO. 622), LOCATED WITHIN CENTRAL MONTICELLO
REDEVELOPMENT PROJECT NO. I IN THE CITY OF MONTICELLO.
WHEREAS, on March 10, 1997, the City of Monticello City Council (the "City) established Tax
Increment Financing District No. 1-22 (the "TIF District") its Central Monticello Redevelopment Project
No. 1; and
WHEREAS, the Monticello Housing and Redevelopment Authority (the "HRA") is the
administrative authority for the TIF District; and
WHEREAS, the TIF District, in part, included the following parcel numbers, which were
previously certified in the TIF District (the "Parcels"):
155-010-036010
155-010-036011
155-010-036030
WHEREAS, the City desires by this resolution to cause the elimination of the Parcels from the
TIF District thereby reducing the size of the TIF District; and
WHEREAS, the Parcels have been excluded from the original tax capacity of the TIF District
pursuant to Minnesota Statues, Section 469.176, Subd. 6 (the so-called "knock -down rule"); and.
WHEREAS, because the total current net tax capacity of the parcels to be eliminated from the
TIF District equals or exceeds the net tax capacity of the parcels in the TIF District's original net tax
capacity, the holding of a public hearing is not required pursuant to Minnesota Statutes, Section 469.175,
Subd. 4.
NOW THEREFORE, BE IT RESOLVED as follows:
1. The tax increment financing plan ("TIF Plan") for the TIF District is hereby modified to
remove the Parcels frorn the TIF District, effective for taxes payable in 2006.
2. Upon approval of a similar resolution by the City, staff are authorized and directed to
attach a copy of this resolution to the TIF Plan for the TIF District in City files, file a copy of this
resolution with Wright County along with instructions to adjust the records for the TIF District
accordingly, and file a copy of the resolution with the Minnesota Commissioner of Revenue and Office of
the State Auditor.
The motion for the adoption of the foregoing resolution was duly seconded by Council member
Mayer , 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: September 12, 2005
Clint Herbst, Mayor
(Seal)
ATTEST:
Rick Wolfsteller, Cit Administrator