HRA Resolution 1990-07Couno1lmember Everette �II��oo introduced the following resolution,
the reading of which by unanimous consent, and moved its was dispensed with
adoption:
HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE
CITY OF MONTICELLO
WRIGHT COUNTY
�T�TE OF MlNNE5OTA
RESOLUTION NO, 90-7
A RESOLUTION RELATING TO THE MODIFICATION, BY THE HOUSING AND
REDEVELOMENT AUTHORITY IN AND FOR THE CITY OF MONTICELLO, OF
THE REDEVELOPMENT PLAN RELATING TO REOEVELOPMENT PROJECT MU.
I, THE MODIFICATION OF THE TAX INCREMENT FINANCING PLANS
RELATING TO TAX INCREMENT 'FINANCING DISTRICTS NOS. 1-1
THROUGH l-g AND THE APPROVAL ANn ADOPTION OF THE TAX
INCREMENT FINANCING PLAN RELATING TO TAX INCREMENT FINANCING
DISTRICT NO. I-10, ALL LOCATED WITHIN REDEVELOPMENT PROJECT
NO. I.
BE IT RESOLVED by the Commissioners (the "Commissioners") of the Housing and
Redevel opment Authority (the "Au-thority") in and, for the Ci ty Of Monti cellO,
Minnesota (the "City"), as follows:
Section 1. Recitals.
1.01. It has been proposed that the Authority modify, by increased project
costs, Redevelopment Project No. 1° pursuant to and in accordance with Minnesota
Statutes, Sections 469^00I to 469.047° inclusive, as amended. It has b----------
fur1her proposed that the Authority modify, by increased project costs, the Tax
Increment Financing Plans relating to Tax Increment Financing Districts Nos. I-I
through 1-0 and establish Tax Increment Financing District N. I-lO and approve
and adopt the Tux Increment Financing Plans relating thereto, all located within
Redevelopment Project No. l° pursuant to and in accordance with Minnesota
Statutes, Sect- ions '169.I74 to 469.179, inclusive, as amended. ---'------
1.02. The Authority has investigated the facts and has caused to be pre-
pared a proposed Modified Redevelopment Plan (the "Modified Redevelopment Plan")
for Redevelopment Project No. I° defining more precisely the increased project
costs to be made to Redevelopment Project NV. I, the proposed Modified Tux
Increment Financing Plans for Tax Increment Financing Districts Nos. I-I through
1-9 and Tax Increment Financing Plan (the "Tax Increment Financing Plan'') for
Tax Increment Financing District NO. 1-I0 (collectively referred to as the
xplanso),
1.03. The Authority and the City have performed all actions required by law
to be performed prior to the modification of Redevelopment Project No. 1, the
modification of Tax Increment Financing Districts Nos. 1 -1 through 1 -9 and the
establishment of Tax Increment Financing District No. 1 -10 and the adoption of
the Plans relating thereto.
1.04. The Authority hereby determines that it is necessary and in the best
interest of the City at this time to modify Redevelopment Project No. 1, to
modify Tax Increment Financing Districts Nos. 1 -1 through 1 -9 and to establish
Tax Increment Financing District No. 1 -10 and approve the Plans relating
thereto, and to request that the City Council (the "Council ") hold a public
hearing relating to the above - stated matters.
Section 2. Approval of the Modified Redevelopment Plan for Redevelopment
Project No. 1.
2.01. Subject to the finding, determination, and approval of the Modified
Redevelopment Plan for Redevelopment Project No. 1 by the City Council of the
City, the Modified Redevelopment Plan for Redevelopment Project No. 1 is hereby
approved by the Commissioners of the Authority. The increased project costs
shall be described in the Modified Redevelopment Plan for Redevelopment Project
No. 1 approved in Section 4 hereof.
Section 3. Approval of the Tax Increment Financing Plans for Tax Increment
Financing Districts No. ��throuuh� -10. -- _____
3.01. Subject to the finding, determination, and approval of the Modified
Tax Increment f=inancing Plans for Tax Increment Financing Districts Nos. 1 -1
through 1 -9 and Tax Increment Financing Plan for Tax Increment Financing
District No. 1 -10 by the Council of the City, the "Fax Increment f=inancing Plans
for Tax Increment Financing Districts Nos. 1 -1 through 1 -10 are hereby approved
by the Commissioners of the Authority. This approval by the Commissioners of
the Authority acknowledges a change in the type of Tax Increment Financing
District from a Redevelopment District to an Economic Development District.
Section 4. Approval of the Respective Plans.
4.01. The Plans presented to the Authority on this date, are hereby
approved and adopted by the Authority and shall be forwarded to the Council with
the request that the Council hold a public hearing relating to the adoption of
the Plans for Redevelopment Project No. 1 and Tax Increment Financing Districts
Nos. 1 -1 through 1 -10.
Section 5. Disposition of Public Lands.
5.01. The Authority held a public hearing, as of this date, regarding the
disposition of public lands. The Authority hereby verifies that said public
hearing was held and duly authorizes the City Attorney and City staff to proceed
t ► ion re i at i ►g to said necessary documentatw 41 ti the i ip i ementaon o
disposition of public lands.
Section 6. Filing of Plans.
6.01. The Authority shall cause the Plans, all as approved and adopted, to
be filed with the Office of the Minnesota Department of Trade and Economic
Developpment.
Dated April 6, 1990
Attest.
Executive Director
(SEAL)