HRA Resolution 2007-06HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF MONTICELLO
RESOLUTION NO. 2007 -06
RESOLUTION RELATING TO THE TRANSFER OF HRA
PROJECTS AND PROGRAMS TO THE CITY OF
MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
BE IT RESOLVED by the Housing and Redevelopment Authority in and for the City of
Monticello, Minnesota ( "HRA "):
Section 1. Background.
1.01. Pursuant to authority granted by Minnesota Statutes, Chapter 469 (the "Act "), the
City Council of the City of Monticello, Minnesota (the "City') adopted Ordinance No. 172, codified
as Title II, Chapter 3 of the City Code (the "Enabling Ordinance "), creating the City of Monticello
Economic Development Authority (the "EDA ") on April 10, 1989.
1.02. On October 22, 2007, the City Council adopted Resolution No.' Lo 6) .. 96 (the
"Enabling Resolution "), amending and restating the Enabling Ordinance. The Enabling Resolution
confers upon the EDA all of the powers and duties of a housing and redevelopment authority under
Sections 469.001 to 469.047 of the Act.
1.03. By Resolution2�otl1 - %Sthe City has transferred all projects and programs of the
HRA to the EDA. At its organizational meeting on %11-e, , \ 9 , 2007, the EDA is expected to
accept such transfer and to pledge and covenant to assume all of the duties and responsibilities of
the HRA with respect to every project and program.
1.04. The HRA finds and determines that it is in the best interests of the proper
administration of the affairs of the HRA, the EDA and the City that appropriate steps be taken to
effect the transfer of all projects and programs of the HRA to the EDA hereby complying with the
terms of the Enabling Resolution and the Act.
Section 2. Transfer.
2.01. Attached as Exhibit A is a list of all outstanding contracts to which the HRA is a
party. The rights, duties and obligations of each of the contracts listed in Exhibit A are transferred,
assigned and released, without qualification, to the EDA. Any contractual obligation of the HRA
not listed in Exhibit A is similarly transferred, assigned and released to the EDA.
2.02. Attached as Exhibit B is a list of activities of the HRA conducted as part of its
"Transformation Home Loan" Program. All of the HRA's interest in and duties and obligations
heretofore exercised in the activities listed in Exhibit B are transferred, assigned and released to the
EDA.
2.03. Attached as Exhibit C is a list of all parcels of real property presently owned in fee
3223030 MNI MN190 -130
by the HRA. In order to comply with the Enabling Resolution and the Act, the parcels of real
property listed in Exhibit C are sold and transferred to the EDA without consideration. The Chair
and Executive Director of the HRA are authorized and directed to execute and deliver quit claim
deeds for each parcel conveying all of the HRA's interest in each parcel listed in Exhibit C to the
EDA, together with such other documents and certificates that are necessary to effect such
conveyances.
2.04. Attached as Exhibit D is a list of all bonded indebtedness issued by the HRA and
outstanding as of the date hereof. All of the HRA's obligations to pay principal and interest on the
bonds listed in Exhibit D are transferred, assigned and released to the EDA.
2.05. Except as provided in this section, the HRA assigns and transfers to the EDA, and
releases all claims to any and all funds in its possession and all interest in and claims to moneys in
the process of collection to the EDA. The Executive Director is authorized and directed to retain
from such funds and moneys so transferred the amounts necessary to reimburse commissioners of
the HRA for necessary expenses and meeting payments incurred to and including the date of this
resolution and to pay such amounts to the commissioners entitled to those expenses and payments.
Section 3. Miscellaneous.
3.01. It is the intent of the HRA in adopting this resolution that all of the HRA's interest,
rights, duties, responsibilities and obligations in each and every HRA project and program, as
contemplated by the Act, be effectively transferred to the EDA and that the supervision and control
of all employees of the HRA be placed under the supervision and control of the EDA.
3.02. The Chair and Executive Director are authorized and directed to transmit a certified
copy of this resolution to the President of the EDA, the Mayor of the City and the Minnesota
Department of Trade and Economic Development and to transmit a certified copy of this resolution
to the County Auditor and the County Recorder for filing in the appropriate records of Wright
County.
3.03. The Chair and the Executive Director are authorized and directed to take appropriate
actions to notify any and all parties to the contracts listed in Exhibit A, the participants to the
program listed in Exhibit B, and the bondholders of the obligations listed in Exhibit D of the nature,
intent and effect of this resolution.
3.04. This resolution is effective as of the date of acceptance by the EDA.
Chair
ATTEST:
Executive Director
3223030 MNI N4N190 -130 2
M 0y �Q-' �-O , '\ , ''a. 0 0 '�
Exhibit A
HRA Contracts
Contract for Private Redevelopment by and between the Housing and Redevelopment Authority
in and for the City of Monticello and Broadway Square Limited Partnership. June 7, 1989
Contract for Private Redevelopment by and between the Housing and Redevelopment Authority
in and for the City of Monticello and Construction 5, Inc. March 16, 1987.
Contract for Private Redevelopment by and between the Housing and Redevelopment Authority
in and for the City of Monticello and Raindance Properties. November 12, 1985.
Contract for Private Redevelopment by and among the Housing and Redevelopment Authority in
and for the City of Monticello, the City of Monticello, Minnesota, and Presbyterian Homes
Housing and Assisted Living, Inc. July 1, 1995.
Contract for Private Redevelopment by and among the Housing and Redevelopment Authority in
and for the City of Monticello, the City of Monticello, Minnesota, and Cedrus Creek Craftsman,
Inc. July 3, 1996.
Amendment to Contract for Private Redevelopment. June 23, 1997.
Contract for Private Redevelopment by and between the Housing and Redevelopment Authority
in and for the City of Monticello and BBF Properties, Inc. March 20, 1998.
Contract for Private Redevelopment by and among the Housing and Redevelopment Authority in
and for the City of Monticello, the City of Monticello, Minnesota, and Hans Hagen Homes, Inc.
April 22, 2002.
Contract for Private Redevelopment by and between the Housing and Redevelopment Authority
in and for the City of Monticello and Masters Fifth Avenue, Inc. September 18, 2001.
First Amendment to Contract for Private Redevelopment. February 6, 2002.
Contract for Private Redevelopment by and between the Housing and Redevelopment Authority
in and for the City of Monticello and St. Cloud Hospital. October 2, 1998.
Lease - Purchase Agreement and Ground Lease by and between the Housing and Redevelopment
Authority in and for the City of Monticello and the City of Monticello, dated as of December 1,
1998.
Amendment No. 1 to Lease - Purchase Agreement and Ground Lease, March 1, 2000.
Contract for Private Redevelopment by and among the Housing and Redevelopment Authority in
and for the City of Monticello, the City of Monticello, Minnesota, and Twin City Die Castings
Company. October 25, 1999.
3223030 MNIN4N190 -130 A -1
Contract for Private Redevelopment by and among the Housing and Redevelopment Authority in
and for the City of Monticello, the City of Monticello, Minnesota, and Integrated Recycling
Technologies Corporation. June 11, 2001.
Contract for Private Development by and among the Housing and Redevelopment Authority in
and for the City of Monticello, the City of Monticello, Minnesota, and Front Porch Associates,
LTD. May 1, 2002.
First Amendment to Contract for Private Development. January 13, 2003. Assignment of
Contract for Private Development. April 24, 2002.
Contract for Private Development by and among the Housing and Redevelopment Authority in
and for the City of Monticello, the City of Monticello, Minnesota, and Central Minnesota Single
Family Housing, LLC. June 25, 2002.
Contract for Private Development by and among the Housing and Redevelopment Authority in
and for the City of Monticello, the City of Monticello, Minnesota, and Terrance & Mary Tomann
Family Limited Partnership. August 26, 2002.
Contract for Private Development by and between the Housing and Redevelopment Authority in
and for the City of Monticello and Tapper's Holdings, LLC and Strategic Equipment and Supply
Corporation. February 15, 2005.
Tax Increment Pledge Agreement by and between City of Monticello, Minnesota and the
Housing and Redevelopment Authority in and for the City of Monticello, Minnesota. August 17,
2005. (No Contract between City and HRA for Interchange Project)
Contract for Private Development by and among the Housing and Redevelopment Authority in
and for the City of Monticello and Masters Fifth Avenue, Inc. September 7, 2005.
Amendment to Contract for Private Development. June 7, 2006.
Purchase and Redevelopment Contract by and between Housing and Redevelopment Authority
in and for the City of Monticello and Rocky MTN Group, LLC. September 2, 2005.
Purchase and Redevelopment Contract by and between Housing and Redevelopment Authority
in and for the City of Monticello and SL Real Estate Holding's, LLC. April 12, 2006.
Purchase and Redevelopment Contract by and between Housing and Redevelopment Authority
in and for the City of Monticello and WRE, LLC. April 11, 2007.
3223030 MNI NIN190 -130 A -2
Exhibit B
Transformation Home Loan Program
1. Second Mortgage to Housing and Redevelopment Authority in and for the City of
Monticello, Borrower, Keith B. Peterson and Jacquelyn J. Peterson. $19,846.00 June 27,
2006.
Promissory Note. $19,846.00 June 27. 2006.
Request for Payment and Certification as to Costs, April 5, 2005.
2. Transformation Home Loan Escrow Agreement by and between Antoinette Breiwick and
Ronald Ruff, Quality Title, Inc. and Housing and Redevelopment Authority in and for the City
of Monticello. May 18, 2006.
Promissory Note. $20,000.00. May 18, 2006.
Second Mortgage to Housing and Redevelopment Authority in and for the City of
Monticello. Borrowers, Antoinette Breiwick and Ronald Ruff. $20,000.00 May 18,
2006.
3. Transformation Home Loan Escrow Agreement by and between Felicia L. Whitmore,
First Minnesota Bank, and the Housing and Redevelopment Authority in and for the City of
Monticello. September 27, 2007.
Promissory Note. $9,581.00. September 27, 2007.
Request for Payment and Certification as to Costs. September 12, 2007.
Third Mortgage to Housing and Redevelopment Authority in and for the City of
Monticello. Borrower, Felicia L. Whitmore. $9,581.00 September 27, 2007.
3223030 MNIMN190 -130 B -1
Exhibit C
HRA Real Property
Lots 1, 2, 3, 4 & 5 Block B, Original Plat, City of Monticello
155 -010- 067010
Lots 6, 7, 8 and 9 Block B, Original Plat, City of Monticello
155- 010 - 067060
Outlot A, Country Club Manor, City of Monticello
155- 033 - 000010
South 1/2 of Lots 1 and 2, Block 54, City of Monticello
Lots 7 and 8, Block 52, Monticello according to recorded plat thereof, except the Southeasterly
16.5 feet of the Southwesterly 90.00 feet of said Lot 8 as measured at a right angle to and parallel
with the Southeasterly and Southwesterly lines thereof. Together with an easement for sanitary
sewer and water lines under the Southeasterly 16.50 feet of the Southwesterly 90.00 feet of Lot
8, Block 52, Monticello as measured at a right angle to and parallel with the Southeasterly and
Southwesterly lines thereof.
Subject to a staircase easement for ingress and egress purposes across the Northwesterly 4.50
feet of the Southeasterly 21.00 feet of the Southwesterly 24.50 feet of Lot 8, Block 52,
Monticello as measured at a right angle to and parallel with the Southeasterly and Southwesterly
lines thereof.
3223030 MNI MN190 -130 C -1
Exhibit D
Bonded Indebtedness of the HRA
General Obligation Tax Increment Bond of 2004A: outstanding principal of $780,000.
322303A MN1 NIN190 -130 D -1