HRA Resolution 1999-4HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF MONTICELLO, MINNESOTA
RESOLUTION NO. 99 -4
Resolution recommending the City Council actively pursue the acquisition of the
Goeman /Chadwick properties for industrial development
and authorize city staff to begin preparation thereof.
WHEREAS, the Monticello Housing and Redevelopment Authority ( "Authority")
endorses the City of Monticello Comprehensive Plan and the Community Vision and Governing
Policies; and
WHEREAS, the Authority endorses the economic development efforts of the City of
Monticello through the administration of the Central Monticello Redevelopment Project No. 1
Plan and the Marketing Plan; and
WHEREAS, the Authority previously committed a total of $150,000 toward the
acquisition or development of industrial land; and
WHEREAS, the Authority previously requested the City Council match the Authority's
$150,000 for acquisition or development of industrial land; and
WHEREAS, the City Council previously committed a total of $150,000 toward the
acquisition or development of industrial land; and
NOW THEREFORE, BE IT RESOLVED by the Board of Commissioners of the
Monticello Housing and Redevelopment Authority as follows:
1. Acquisition of said properties will control land prices.
2. Acquisition of said properties will control and simplify development schedules.
3. Acquisition of said properties will diversify ownership of industrial lands.
4. Acquisition of said properties will provide for a competitive market.
5. Acquisition of said properties will allow for flexibility in deal structuring.
6. Preparation for acquisition of said properties places the City of Monticello first in-
line to acquire.
HRA Resolution No. 99 -4
Page 2
Adopted by the Board of Commissioners of the Monticello Housing and Redevelopment
Authority this 9 th day of June 1999.
HRA Chair
ATTEST:
CO
Executive Director