City Council Resolution 1984-16RESOLUTION 1984 #16
A RESOLUTION REQUESTING THE COUNTY
AUDITOR TO CERTIFY THE ORIGINAL ASSESSED
VALUE OF THE REAL PROPERTY WITHIN THE
BOUNDARY OF THE MONTICELLO HOUSING AND
REDEVELOPMENT AUTHORITY TAX INCREMENT
FINANCING ECONOMIC DEVELOPMENT DISTRICT #3.
WHEREAS, the City Council of the City of Monticello has determined
that it is necessary and desirable and in the public interest to designate,
establish, develop, and administer a tax increment financing economic
development district pursuant to the provisions of Minnesota Statutes,
Section 273.71 to 273.78 inclusive;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
MONTICELLO, MINNESOTA that the Wright County Auditor is hereby requested
to certify the assessed value of all real property within the boundaries
of the tax increment economic development district as described in the
attached tax increment financing plan as of the date of the last equalized
assessment, and each year hereafter to certify the amount by which the
assessed value has increased or decreased from the on ginal assessed value
and also to certify the proportion which any increase or decrease bears
to the total assessed value for the real property in said tax increment
financing district for that year, excluding the capture of assessed value
payable in 1985, which shall be "gassed through" to the taxing jurisdictions
and also to remit to the Monticello Housing and Redevelopment Authority,
beginning in July, 1986, that proportion of all taxes aid that year on
real property in the district which the captured assessed value bears to the
total current assessed value, all~ursuant to Minnesota Statutes, Section
273.76, Subdivision 1 and 2.
Adopted this 23rd day of April, 1984.
/~
Arve A. Grimsmo, Mayor
ATTEST:
Thomas A. Eidem
City Administrator