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City Council Resolution 1988-38RESOLUTION 88- 38 A RESOLUTION APPROVING THE MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY ACQUISITION COST INCLUSIVE OF MOVING AND RELOCATION EXPENSES PURSUANT TO THE HUD-UNIFORM ACT WHEREAS, the City Council of the City of Monticello, Minnesota, has determined the need to approve the acquisition cost of the Jones, Stelton, and O'Connor properties (the "Sellers") to the Monticello Housing and Redevelopment Authority (the "Buyer") inclusive of moving and relocation expenses pursuant to the HUD-Uniform Act, person(s) or business(es) who undergo displacement due to acquisition of property by a government entity are entitled to compensation of moving and relocation expenses; and WHEREAS, the Monticello Housing and Redevelopment Authority (the "Buyer") has entered into a purchase agreement with Alvin and Shirley Jones (the "Seller"), with Ervin and Donna Stelton (the "Seller"), and Joseph and Clarice O'Connor (the "Seller"); and WHEREAS, both the buyer and the sellers are agreeable to the terms of the purchase agreement inclusive of $5,000 each as fixed payment for moving and relocation expenses; and WHEREAS, there was presented to this meeting of the City Council of the City of Monticello, Minnesota, a copy of the total acquisition budget; and WHEREAS, the buyer agrees to pay $57,000 for the property located at 110 North Locust Street, Monticello, Minnesota; and WHEREAS, the buyer agrees to pay $65,000 for the property located at 237 West Broadway, Monticello, Minnesota; and WHEREAS, the buyer agrees to pay $55,000 for the property located at 247 West Broadway, Monticello, Minnesota; and WHEREAS, Modification #3 for the Tax Increment Finance Plan Redevelopment District #2 inclusive of the debt service retirement for the said above properties; and WHEREAS, a public hearing was held on September 26, 1988, at 7:30 o'clock p.m. before the City Council in the Council Chambers in the City Hall, in Monticello, Minnesota, notice of which has been published once in the official newspaper for the City, not less than ten, nor more than thirty days prior to September 26, 1988; and WHEREAS, at said public hearing all persons and parties were given full opportunity to present written and oral testimony, comments, objections, suggestions, and other matters, all of which were duly considered by the Council; Resolution 88- 3s Page 2 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF MONTICELLO that the City of Monticello does hereby approve the acquisition cost of the Jones, Stelton, and O'Connor properties (the "Sellers") to the Monticello Housing and Redevelopment Authority (the "Buyer") inclusive of moving and relocation expenses and finds: 1. That the proposed acquisition will contribute to the elimination of blight or deterioration within the area. 2. That the proposed acquisition will eliminate the potential hazards of health, safety, and general well-being of the community. 3. That the proposed acquisition will create a use for a portion of underused land. 4. That the proposed acquisition, demolition, and redevelopment will create needed subsidized elderly housing. The City Council of the City of Monticello, Minnesota, does hereby approve the Monticello Housing and Redevelopment Authority acquisition cost inclusive of moving and relocation expenses. Adopted by the City Council this 26th day of September, 1988. - Mayor City Admini rator