HRA Resolution 1996-1HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF MONTICELLO
RESOLUTION NO. 96-1
RESOLUTION MODIFYING CENTRAL REDEVELOPMENT
PROJECT NO. 1; MODIFYING TAX INCREMENT DISTRICT NOS.
1- 1, 1- 2 ,1- 3,1- 4,1- 5,1- 6,1- 7,1- 8,1 -9,1- 10,1 -11,1- 12,1- 13,1- 14,1 -15,
1 -169 1 -17, and 1 -18; AND APPROVING THE CENTRAL
MONTICELLO REDEVELOPMENT PLAN AND TAX
INCREMENT FINANCING PLANS RELATING THERETO.
WHEREAS, the City Council (the "Council ") of the City of Monticello (the "City ") has proposed
to modify the Redevelopment Plan (the "Redevelopment Plan ") for Central Monticello Redevelopment
Project No. 1 (the "Redevelopment Project No. I") and modify the Tax Increment Financing Plans for the
Tax Increment District Nos. 1 -1, 1 -2, 1 -3, 1 -4, 1 -5, 1 -6, 1 -7, 1 -8, 1 -9, 1 -10, 1 -11, 1 -12, 1 -13, 1 -14, 1 -15, 1-
1 6, 1 -17, and 1 -18 (the "the Tax Increment Districts "), all pursuant to and in accordance with Minnesota
Statutes, Sections 469.001 to 469.047 and Minnesota Statutes, Sections 469.174 to 469.179, inclusive, as
amended; and
WHEREAS, the Housing and Redevelopment Authority in and for the City of Monticell (the
"Authority ") has investigated the facts and have caused to be prepared a modified Redevelopment Plan for
Redevelopment Project No. 1 and modified Tax Increment Financing Plans for the Tax Increment Districts
(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, therefor, 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 and the modification of the Tax Increment Districts,
including, but not limited to, notification of Wright County and School District No. 882 having taxing
jurisdiction over the property included in the Tax Increment Districts, a review by the City Planning
Commission of the proposed Plans, and the scheduled holding of a public hearing 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. The Plans are hereby approved and adopted, and shall be placed on file in the office of the
Executive Director.
2. Subject to the approval of the Plans by the City Council, the Authority'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, resolution,
documents and contracts necessary for this purpose.
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 10th day of January, 1996.
Chair
ATTEST:
N:\WPDATA\MONTICEL\TIMOD196\APPROVE.RES