HRA Resolution 1995-3A RESOLUTION BY THE HOUSING AND REDEVELOPMENT AUTHORITY
U
IN AND FOR THE CITA OF MONTICELLO, WRIGHT COUNTY
RESOLUTION NO.
2�.
RESOLUTION AUTHORI.ZING PREPARATION FOR THE
MODIFICATION OF THE FOR PLAN REDEVELOPMENT PROJECT NO. 1L
.0 1%
INCLUDING THE TIF PLANS FOR TIF DISTRICT NOS. 1-1 THROUGH
1-11 AND THE MODIFICATION OF THE TIF PLAN FOR
TIF DISTRICT NO. 1 -19.
WHEREAS. the Housing and Redevelopment Authority 'the "HRA")
and for the City of Monticello, Minnesota. has determined the
modification of the TIF Plans for TIF District Nos. 1-1 through 1-
11 within Redevelopment Project Plan No. I would enhance the
objectives of the Redevelopment Project Plan and is pursuant to and
in accordance with Minnesota Statutes, Sections 469.001 to 469,047.
Modification of the TIF Plans for TIF District Nos. 1-1 through I-
11 is in relationship to the TIF pooling dollars available from TIF
Districts established pre-May 1, 1990. 'See Attached Proposal)
WHEREAS, the Housing and Redevelopment Authority (the "HRA"), in
and for the City of Monticello, Minnesota, has determined the need
to increase the project costs modifying the TIF Plan for TIF
District No. 1-19. (See Attached Budget Modification)
NOW, THEREFORE, MAY IT BE RESOLVED by the Housing and Redevelopment
Authority, in and for the City of Monticello, Minnesota:
1. Authorises Public Resource Group Inc.
to modify the TIF Plans
for TIF District Nos. 1-1 through 1 -11 and to modify the TIF
Plan for TIF District No. 1-19, all located with Redevelopment
Project No. 1.
2. Requests the Monticello City Council on Monday, June 12, 1995,
call for a public hearing date of Monday, June 26, 199.15, for
L
above said modifications.
Adopted this . .. . ....... 15 th day of May,
- A— r - _p - e* - , rs_o - n
ATTEST:
HRA Executive Director-)
RECOMMENDED BUDGET FOR
TIF POOLING DOLLARS OF PRE -MAY 1330
TIF DISTRICT NOS 1 -1 THROUGH 1 -11
May 15, 1335
ACQUISITION, DEMOLITION, AND $ 1001000.00
RELOCATION
PID# 155 °500- 033403
FALLON AVENUE OVERPASS $1,400,000.00
WASTE MATER TREATMENT PLANT EXPANSION $2,000,000.00
TOTAL ;3,500,000.00
TIF DISTRICT NO. 1 -19 BUDGET
BY HRA APRIL 5, 1995
DEBT - SERVICE RESERVE FOR HOUSING BONDS
DEMOLITION /REMOVAL
SITE IMPROVEMENTS
STORM SEWER
SANITARY SEWER
WATER
WATER /SEWER HOOKUP FEES
PUBLIC IMPROVEMENTS
UTILITY REALIGNMENT
FIRETRUCK PATH /HYDRANTS
BIKE /PED PATHWAY BRIDGE
SITE PREPARATION
OTHER PREPARATION FOOTINGS
PARKING /PAVING /LANDSCAPING
CONTINGENCY
SUBTOTAL
ADMINISTRATION
TOTAL
$ 95,000
7,500
15,440
18,950
3,400
30,000
12,000
10,000
10,000
39,208
15,675
48,657
20,000
$325,830
42,000
$367,830