HRA Resolution 1990-08Commissioner Tom St. Hilaire introduced the following
resolution, the reading of which was dispensed with by unanimous
consent, and moved its adoption:
HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE
CITY OF MONTICELLO-
WRIGHT COUNTY
STATE OF MINNESOTA
RESOLUTION NO. 90-8
A RESOLUTION RELATING TO THE MODIFICATION, BY
THE HOUSING AND REDEVELOMENT AUTHORITY IN AND
FOR THE CITY OF MONTICELLOy OF THE
REDEVELOPMENT PLAN RELATING TO REDEVELOPMENT
PROJECT NO. lt THE MODIFICATION OF THE TAX
INCREMENT FINANCING PLANS RELATING TO TAX
INCREMENT FINANCING DISTRICTS NOS. 1-1 THROUGH
1-11 AND THE MODIFICATION OF THE TAX INCREMENT
FINANCING PLAN RELATING TO TAX INCREMENT FINANCING
DISTRICT NO. 1-91 ALL LOCATED WITHIN REDEVELOPMENT
PROJECT NO. 1.
BE IT RESOLVED by the Commissioners (the "Commissioners") of
the Housing and Redevelopment Authority (the "Authority") in and
for the City of Monticello, 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 469.001 to
469.047, inclusive, as amended. It has been further proposed
that the Authority modify, by increased project costs, the Tax
Increment Financing Plans relating to Tax Increment Financing
Districts Nos. 1-1 through 1-11 and modify, by increased project
costs, Tax Increment Financing District No.'1-9 and approve the
Tax Increment Financing Plans relating thereto, all located
within Redevelopment Project No. 1, pursuant to and in accordance
with Minnesota Statutes, Sections 469.174 to 469.179, inclusive,
as amended.
HRA Resolution 90-8
Page 2
1.02. The Authority has investigated the facts and has
caused to be prepared a proposed Modified Redevelopment Plan (the
"Modified Redevelopment Plan") for Redevelopment Project No. 1,
defining more precisely the increased project costs to be made to
Redevelopment Project No. 1, the proposed Modified Tax Increment
Financing Plans for Tax Increment Financing Districts Nos. 1-1
through 1-11 and the proposed modified Tax Increment Financing
Plan (the "Tax Increment Financing Plan") for Tax Increment
Financing District No. 1-9 (collectively referred to as the
11 Plans " ) .
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 1-11 and the modification of
Tax Increment Financing District No. 1-9 and the approval 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 1-11 and to modify Tax Increment
Financing District No. 1-9 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. 1-1 through 1-11.
3.01. Subject to the finding, determination, and approval of
the Modified Tax Increment Financing Plans for Tax Increment
Financing Districts Nos. 1-1 through 1-11 and Tax Increment
Financing Plan for Tax Increment Financing District No. 1-9 by
the Council of the City,, the Tax Increment Financing Plans for
Tax Increment Financing Districts Nos. 1-1 through 1-11 are
hereby approved by the Commissioners of the Authority.
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HRA Resolution 90-8
P�ge 3
Section 4® Approval of the Respective Plans®
4.01. The Plans presented to the Authority on this date, are
hereby approved 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 -11®
Section 5. Filing of Plans-
6.01. The Authority shall cause the Plans, all as approved,
to be filed with the Minnesota Department of Revenue®
Dated July 11, 1990
Attest:
vo
Executive Director
(SEAL)
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Chairman