HRA Resolution 1997-1MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY
CITY OF MONTICELLO
WRIGHT COUNTY
STATE OF MINNESOTA
RESOLUTIONN NO. 97-1
RESOLUTION MODIFYING CENTRAL MONTICELLO
REDEVELOPMENT PROJECT NO. 1 AND ADOPTING THE MODIFIED
REDEVELOPMENT PLAN THEREFOR; MODIFYING TAX INCREMENT
FINANCING DISTRICT NO. 1-17 AND ADOPTING THE MODIFICATION
TO THE TAX INCREMENT FINANCING PLAN; AND ESTABLISHING
WITHIN CENTRAL MONTICELLO REDEVELOPMENT PROJECT NO.
1 TAX INCREMENT FINANCING DISTRICT NO. 1 -22 AND ADOPTING
THE RELATED TAX INCREMENT FINANCING PLAN THEREFOR
WHEREAS, the City Council (the "Council ") of the City of Monticello (the "City ") has proposed to
modify Central Monticello Redevelopment Project No. 1 (the "Redevelopment Project No. 1 ") and adopt the
Modified Redevelopment Plan therefor; modify Tax Increment Financing District 1 -17 and adopt the
Modification to the Tax Increment Financing Plan therefor; and adopt a Tax Increment Financing Plan for the
establishment of Tax Increment Financing District No. 1 -22, (collectively, the "Plans ") all pursuant to and in
accordance with Minnesota Statutes, Sections 469.001 to 469.047 and Sections 469.174 to 469.179, inclusive,
as amended, all as reflected in the Plans and presented for the consideration of the Board of Commissioners
(the "Board ") of the Monticello Housing and Redevelopment Authority (the "Authority ") of the City; and
WHEREAS, the HRA has investigated the facts and have caused to be prepared the Plans; and
WHEREAS, proposed developments as described in the Plans, in the opinion of the Authority, would
not reasonably be expected to occur solely through private investment within the reasonable foreseeable future
and, therefore, the use of tax increment financing is deemed necessary; and
WHEREAS, the Authority and 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 District No.
1 -17, and the establishment of Tax Increment Financing District No. 1 -22 including, but not limited to,
notification of Wright County and School District No. 882 having taxing jurisdiction over the property
included in Tax Increment Financing Districts Nos. 1 -17 and 1 -22, a request for review of and written
comment on the Plans by the City Planning Commission, and the scheduled holding of a public hearing by the
Council upon published notice as required by law.
BE IT RESOLVED by the Board of Commissioners of the Housing and Redevelopment Authority
in and for the City of Monticello, as follows:
1. Conditioned upon the approval thereof by the Council following its public hearing thereon and
conditioned upon approval thereof by the City Planning Commission, the Plans, as presented to the Authority
on this date, are hereby approved, established and adopted and shall be placed on file in the office of the
Executive Director of the Authority.
2. Subject to the approval of the Plans by the Council, the Authority's staff, 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, resolution, 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
3. Upon approval of the Plans by the City Council, the Executive Director is authorized to forward
a copy of the Plans to the Wright County Auditor and the Minnesota Department of Revenue pursuant to
Minnesota Statues 469.175, subdivision 2.
Approved by the Board of Commissioners of the Monticello Housing and Redevelopment Authority
this 5TH day of MARCH 1997.
f�
�. Chair
ATTEST:
Secretary