HRA Resolution 1989-02HRA RESOLUTION 89 -2
A RESOLUTION BY THE MONTICELLO HOUSING AND
REDEVELOPMENT AUTHORITY APPROVING THE
ACQUISITION AND DISPOSITION OF LANDS TO
NORTHERN STATES POWER COMPANY.
WHEREAS, both the Monticello Housing and Redevelopment Authority
(the "Authority ") and Northern States Power Company (the "Developer ")
shall agree to the terms of the Tax Increment Finance Development
Agreement and all covenants therein; and
WHEREAS, the Monticello Housing and Redevelopment Authority, the
City of Monticello, and the Planning Commission have adopted
the Tax Increment Finance Plan for Economic District No. 1 -8;
and
WHEREAS, both the Monticello Housing and Redevelopment Authority
(the "Seller ") and Northern States Power Company (the "Buyer ")
shall agree to the terms of the purchase agreement and all
contingencies therein; and
WHEREAS, the buyer agrees to pay One Dollar ($1.00) for the raw
lands described as:
Westerly 3.22 acres of Lot 4, Block 3, Oakwood Industrial
Park, City of Monticello, Wright County.
NOW, THEREFORE, BE IT RESOLVED by the governing body of the Housing
and Redevelopment Authority in and for the City of Monticello:
1. It will discourage commerce, industry, or manufacturing
from moving their operations to another state.
2. It will result in increased employment in the municipality.
3. It will result in preservation and enhancement of the
tax base of the municipality.
The Housing and Redevelopment Authority of Monticello, Minnesota
does hereby approve the acquisition and disposition of the said
described raw lands to Northern States Power Company.
Adopted by the Monticello Housing and Redevelopment Authority
this day of February, 1989.
ATTEST:
011ie Korpchak
HRA Executive Director
Al Lars bn
HRA Chairperson