HRA Resolution 1995-2Commissioner TOM ST. HILAIRE introduced the following resolution,
the reading of which was dispensed with by unanimous consent, and moved
its adoption:
HOUSING D REDEVELOPMENT AUTHORIT
IN AND FOR THE CITY OJF MONT11CIE111"17LO
WRIGHT COUNTY
STATE OF MINNESOTA
Resolution No. 95 -2
BE IT RESOLVED by the Commissioners (the "Commissioners") of
the Mousing and Redevelopment Authority (the "Authority") in and for the
City of Monticello, Minnesota (the "City "), as follows:
Section 1. Recitals.
1.01. It has been proposed that the Authority modify, by increased
project costs and enlarged geographic area, Redevelopment Project No. 1,
pursuant to and in accordance with Minnesota Statutes, Sections 469.001 to
469.047, inclusive, as amended.
It has been further proposed that the Authority modify, by increased project
costs and enlarged geographic area, the Tax Increment Financing Plans
relating to Tax Increment Financing Districts No. 1 -1 through 1 -18 and
establish Tax Increment Financing District No. 1 -19 and approve and adopt
the Tax Increment Financing Plans relating thereto, all located within
Redevelopment Project No. 1, pursuant to and in accordance with Minnesota
Statutes, Sections 469.174 to 469.179, inclusive, as amended.
1.02. The Authority has investigated the facts and has caused to
be prepared a proposed Modified Redevelopment Plan (the "Modified
Redevelopment Plan ") for Redevelopment Project No. 1, defining more
precisely the increased project costs and enlarged geographic area to be made
to Redevelopment Project No. 1, the proposed Modified Tax Increment
Financing Plans for Tax Increment Financing Districts No. 1 -1 through 1 -18,
and Tax Increment Financing Plan (the "Tax Increment Financing Plan ") for
Tax Increment Financing District No. 1 -19 (collectively referred to as the
"Plans ") .
1.03. The Authority and the City have performed all actions
required by law to be performed prior to the modification of Redevelopment
Project No. 1, the modification of Tax Increment Financing Districts
No.1- 1 through 1 -18 and the establishment of Tax Increment Financing
District No. 1 -19 and the adoption of the Plans relating thereto.
1.04. The Authority hereby determines that it is necessary and in
the best interest of the City at this time to modify Redevelopment Project
No. 1, to modify Tax Increment Financing Districts No. 1 -1 through 1 -18
and to establish Tax Increment Financing District No. 1 -19 and approve the
Plans relating thereto, and to request that the City Council (the "Council")
hold a public hearing relating to the above - stated matters.
Section 2. Approval of the Modified Redevelopment Plan for
Redevelopment Proiect No. 1.
2.01. Subject to the finding, determination, and approval of the
Modified Redevelopment Plan for Redevelopment Project No. 1 by the City
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Council of the City, the Modified Redevelopment Plan for Redevelopment
Project No. 1 is hereby approved by the Commissioners of the Authority.
The increased project costs and enlarged geographic area shall be described
in the Modified Redevelopment Plan for Redevelopment Project No. 1,
approved in Section 4 hereof.
Section 3. Approval of the Tax Increment Financing Plans for
Tax Increment Financing Districts Nos. 1 -1 through 1-19.
3.01. Subject to the finding, determination, and approval of the
Modified Tax Increment Financing Plans for Tax Increment Financing
Districts No. 1 -1 through 1 -18, and the Tax Increment Financing Plan for
Tax Increment Financing District No. 1 -19 by the Council of the City, the
Tax Increment Financing Plans for Tax Increment Financing Districts Nos.
1 -1 through 1 -19 are hereby approved by the Commissioners of the
Authority.
Section 4. Approval of the Respective Plans.
4.01. The Plans presented to the Authority on this date, are
hereby approved and adopted by the Authority and shall be forwarded to the
Council with the request that the Council hold a public hearing relating to the
adoption of the Plans for Redevelopment Project No. 1 and Tax Increment
Financing Districts Nos. 1 -1 through 1-19.
Section 5. Filing of Plans.
5.01. The Authority shall cause the Plans, all as approved and
adopted, to be filed with the Minnesota Department of Revenue.
Dated: JANUARY 11, 1995
Attest:
CQ9 Al \4 n ��"_Os �_
011ie Koropchak, Executive Director
(SEAT.,)
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VICE - Chairman
TIF DISTRICT NO. 1--10 BUDGET
APPROVED JANUARY 11, 1995
LAND ACQUISITION
DEMOLITION /REMOVAL
$ 7,500.00
SITE IMPROVEMENTS
STORM SEWER
15,440.00
SANITARY SEWER
18,050.00
WATER
3,400.00
PUBLIC IMPROVEMENTS
UTILITY REALIGNMENT
12,000.00
FIRETRUCK PATH /HYDRANTS
BIKE /PED PATHWAY BRIDGE
10,000.00
SITE PREPARATION
39,208.00
OTHER PREPARATION FOOTINGS
15.675.00
PARKING /PAVING /LANDSCAPING
48,657.00
SUBTOTAL
$170,830.00
COi3TITdGENC3c'
20,000.00
ADMINISTRATION
201000.00
TOTAL
$210,830.00