HRA Resolution 1996-6HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF MONTICELLO
RESOLUTION NO. 96 -6
RESOLUTION MODIFYING THE REDEVELOPMENT PLAN FOR
CENTRAL MONTICELLO REDEVELOPMENT PROJECT NO. 1;
MODIFYING THE BUDGETS OF TAX INCREMENT FINANCING
DISTRICTS 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- 16,1 -17, AND 1 -18; ESTABLISHING TAX INCREMENT
FINANCING DISTRICT NO. 1-20 AND APPROVING THE CENTRAL
MONTICELLO REDEVELOPMENT PLAN AND TAX INCREMENT
FINANCING PLANS RELATING THERETO, LOCATED WITHIN
CENTRAL MONTICELLO REDEVELOPMENT PROJECT NO. 1.
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"), modify the Tax Increment Financing Plans for the Tax
Increment Financing Districts 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 -16, 1 -17, and 1 -18 (the "the Tax Increment Financing Districts "), and establish Tax Increment
Financing District No. 1 -20 ( "District No. 1 -20 "), 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 Monticello (the
"Authority ") has investigated the facts and have caused to be prepared a modified Redevelopment Plan for
Redevelopment Project No. 1, modified Tax Increment Financing Plans for Tax Increment Financing
Districts 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 -16, 1 -17, and
1 -18 and the Tax Increment Financing Plan for Tax Increment Financing District No. 1 -20 (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, the modification of the Tax Increment Financing
Districts, and the establishment of District No. 1 -20 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 Financing Districts and District No. 1 -20, 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 5th day of June, 1996.
Chair
ATTEST:
03
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