HRA Resolution 1998-6MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY
CITY OF MONTICELLO
WRIGHT COUNTY
STATE OF MINNESOTA
RESOLUTION NO. 98 -6
RESOLUTION ADOPTING THE MODIFICATION TO THE REDEVELOPMENT
PLAN FOR CENTRAL MONTICELLO REDEVELOPMENT PROJECT NO. 1;
AND ESTABLISHING TAX INCREMENT FINANCING DISTRICT NO. 1 -24
THEREIN AND ADOPTING THE RELATED TAX INCREMENT FINANCING
PLAN THEREFOR.
WHEREAS, it has been proposed that the Board of Commissioners (the "Board ") of the Housing
and Redevelopment Authority (the "HRA)" for the City of Monticello (the "City ") adopt the Modified
Redevelopment Plan for Central Monticello Redevelopment Project No. 1 and establish Tax Increment
Financing District No. 1 -24 and adopt the Tax Increment Financing Plan therefor, (collectively, the "Plans "),
all pursuant to and in conformity with existing law, including Minnesota Statutes, Sections 469.001 through
469.047, and Sections 469.174 to 469.179, inclusive, as amended, all as reflected in the Plans and presented
for the Board's consideration; and
WHEREAS, the HRA has investigated the facts relating to the Plans and has caused the Plans to be
prepared; and
WHEREAS, the proposed developments as described in the Plans, in the opinion of the HRA, 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 HRA has performed all actions required by law to be performed prior to the
adoption of the Plans, but not limited to, notification of Wright County and School District No. 882 having
taxing jurisdiction over the property to be included in Tax Increment Financing District No. 1 -24, notice of
a potential qualified housing district to the local county commissioner, a request for review of and written
comment on the Plans by the City Planning Commission, and a request that the Council schedule a public
hearing on the Plans upon published notice as required by law.
NOW, THEREFORE, BE IT RESOLVED by the Board as follows:
1. The HRA hereby finds that Tax Increment Financing District No. 1 -24 is in the public
interest and is a "qualified housing district" under Minnesota Statutes, Section 469.174, subd. 11 and
Minnesota Statutes, Section 273.13 99, subd. 1(c), and finds that the adoption of the proposed Plans will
advance the HRA's and City's objectives of encouraging development within Central Monticello
Redevelopment Project No. 1.
2. Conditioned upon the approval thereof by the City Council following its public hearing
thereon, the Plans, as presented to the HRA on this date, are hereby approved, established and adopted and
shall be placed on file in the office of the City Administrator.
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3. Upon approval of the Plans by the City Council, the staff, the HRA'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, resolutions,
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.
4. Upon approval of the Plans by the City Council, the Executive Director of the HRA is
authorized to forward a copy of the Plans to the Minnesota Department of Revenue pursuant to Minnesota
Statutes 469.175, subdivision 2.
5. The City Administrator is authorized and directed to forward a copy of the Plans to the
Wright County Auditor and request that the Auditor certify the original tax capacity of District No. 1 -24 as
described in the Plans, all in accordance with Minnesota Statutes 469.177.
Approved by the Board of Commissioners of the Monticello Housing and Redevelopment Authority
this 5th day of August , 1998.
Chair
ATTEST:
Secre ary
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