HRA Resolution 1994-03HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF MONTICELLO, MINNESOTA, AUTHORIZING
THE ACQUISITION AND DISPOSITION OF LANDS TO
THE SCHULZ PROPERTIES
RESOLUTION NO. 94-3
WHEREAS, both the Housing and Redevelopment Authority in and for
the City of Monticello, Minnesota, (the "Authority") and the Schulz
Properties, a general 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 Schulz Properties and all the converiants
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. 1-16; and
WHEREAS, the Housing and Redevelopment Authority in and for the
City of Monticello held a public hearing and heard no comments or
opposition on the acquisition and disposition of the raw lands
described as:
Lot 31 Block 3, Oakwood Industrial Park,
City of Monticello, County of Wright.
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. 1-16 and the
approval and adoption of the Tax Increment Finance Plan on March
14, 1994; and
WHEREAS, both the Housing and Redevelopment Authority in and for
the city of Monticello and the Schulz Properties shall agree to an
amount up to, but not-to-exceed, Fifty-Five Thousand Dollars and No
Cents ($55,000) as the level of Tax Increment Finance assistance
for the acquisition and disposition of said described raw lands.
NOW, THEREFORE, BE IT RESOLVED by the governing body of the Housing
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.
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HRA RESOLUTION NO. _
94 -3
MARCH 2, 1994
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 Schulz
Properties.
Adopted by the Housing and Redevelopment Authority in and for the
City of Monticello, Minnesota, this 2nd day of March
1994 .
SEAL
ATTEST:
d) -,
HRA Executive Direc r
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HRA Chairperson