HRA Resolution 1993-05HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF MONTICELLO, MINNESOTA, AUTHORIZING
THE ACQUISITION AND DISPOSITION OF LANDS TO
THE DEMEULES FAMILY LIMITED PARTNERSHIP
RESOLUTION NO. 93 -5
WHEREAS, both the Housing and Redevelopment Authority in and for
the City of Monticello, Minnesota, (the "Authority ") and the
Demeules Family Limited Partnership (the "Redeveloper ") shall agree
to the terms of the Contract for Private Redevelopment by and
between the Housing and Redevelopment Authority in and for the City
of Monticello and the Demeules Family Limited Partnership and all
the convenants therein; and
WHEREAS, the Housing and Redevelopment Authority in and for the
City of Monticello has adopted the Tax Increment Finance Plan
relating to Tax Increment Finance District No. 1 -13; and
WHEREAS, the Council in and for the City of Monticello shall hold
a Public Hearing and consider adoption of a Resolution for the
Establishment of Tax Increment Finance District No. 1 -13 and the
approval; and adoption of the Tax Increment Finance Plan on
September 27, 1993; and
WHEREAS, both the Housing and Redevelopment Authority in and for
the City of Monticello and the Demeules Family Limited. Partnership
shall agree to an amount up to, but not -to- exceed, One - Hundred
Seventeen Thousand Dollars and No Cents ($117,000) and the reuse
value of the property as the level of Tax Increment Finance
assistance (purchase price) for the acquisition and disposition of
raw lands described as:
Lots 7 and 8, Block 2, Oakwood Industrial Parr,
City of Monticello, County of Wright.
NOW, THEREFORE, BE IT RESOLVED by the governing body of the dousing
and Redevelopment Authority in and for the City of Monticello
having held a public hearing finds:
1. It will discourage commerce, industry, or
manufacturing from moving their operations
to another state; and
2. It will result in increased employment in the
state; and
3. It will result in preservation and enhancement
of the tax base of the state.
HRA RESOLUTION NO. 93-5
SEPTEMBER 27, 1993
The Housing and Redevelopment Authority in and for the City of
Monticello, Minnesota, does hereby authorize the acquisition and
disposition of the said described raw lands to the Demeules Family
Limited Partnership.
Adopted by the Housing and Redevelopment Authority in and for the
City of Monticello, Minnesota, this 27th day of September
1993 .
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SEAL �P
'HRA ,fiairperson
ATTEST:
HRA Executive Direc r