HRA Resolution 2006-06MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY
CITY OF MONTICELLO
WRIGIIT COUNTY
STATE OF MINNESOTA
RESOLUTION NO. 2006 -06
RESOLUTION ADOPTING A MODIIFICATION TO THE REDEVELOPMENT
PLAN FOR CENTRAL MONTICELLO REDEVELOPMENT PROJECT NO. 1
AND ESTABLISHING TAX INCREMENT FINANCING DISTRICT NO. 1 -37
THEREIN AND ADOPTING A TAX INCREMENT FINANCING PLAN
THEREFOR.
WHEREAS, it has been proposed by the Board of Commissioners (the "Board ") of the
Monticello Housing and Redevelopment Authority (the "HRA ") and the City of Monticello (the "City ")
that the HRA adopt a Modification to the Redevelopment Plan for Central Monticello Redevelopment
Project No. 1 (the "Redevelopment Plan Modification ") and establish Tax Increment Financing District
No. 1 -37 and adopt a Tax Increment Financing Plan (the "TIF Plan ") therefor (the Redevelopment Plan
Modification and the TIF Plan are referred to collectively herein as the "Plans "), 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 Plans and presented for the
Board's consideration; and
WHEREAS, the HRA has investigated the facts relating to the Plans and has caused the Plans to
be prepared; and
WHEREAS, the HRA has performed all actions required by law to be performed prior to the
adoption of the Plans. The HRA has also requested the City Planning Commission to provide for review
of and written comment on the Plans and that the Council schedule a public hearing on the Plans upon
published notice as required by law.
NOW, THEREFORE, BE IT RESOLVED by the Board as follows:
1. The HRA hereby finds that Tax Increment Financing District No. 1 -37 is in the public
interest and is an "economic development district" under Minnesota Statutes, Section 469.174, Subd. 121
and finds that the Plans conform in all respects to the requirements of the Act and will help fulfill a need
to develop an area of the State of Minnesota which is underutilized and that the adoption of the proposed
Plans will discourage commerce and industry from moving their operations to another state or
municipality and thereby serves a public purpose.
2. The HRA further finds that the Plans will afford maximum opportunity, consistent with
the sound needs for the City as a whole, for the development or redevelopment of the project area by
private enterprise in that the intent is to provide only that public assistance necessary to make the private
developments financially feasible.
3. The boundaries of Central Monticello Redevelopment Project No. 1 are not being
expanded.
4. Conditioned upon the approval thereof by the City Council following its public hearing
thereon, the Plans, as presented to the HRA on this date, are hereby approved, established and adopted
and shall be placed on file in the office of the Executive Director of the HRA.
5. Upon approval of the Plans by the City Council, the staff, the HRA's advisors and legal
counsel are authorized and directed to proceed with the implementation of the Plans and for this purpose
to negotiate, draft, prepare and present to this Board for its consideration all further plans, resolutions,
documents and contracts necessary for this purpose. Approval of the Plans does not constitute approval
of any project or a Development Agreement with any developer.
6. Upon approval of the Plans by the City Council, the Executive Director of the HRA is
authorized and directed to forward a copy of the Plans to the Minnesota Department of Revenue and
Office of the State Auditor pursuant to Minnesota Statutes 469.175, Subd. 4a.
7. The Executive Director of the HRA is authorized and directed to forward a copy of the
Plans to the Wright County Auditor and request that the Wright County Auditor certify the original tax
capacity of the District as described in the Plans, all in accordance with Minnesota Statutes 469.177.
Approved by the Board of Commissioners of the Monticello Housing and Redevelopment
Authority this 5th day of April, 2006.
ATTEST:
Secretary