RESOLUTION #09-116

Resolution to approve Tax Abatement for Innovative Ag Services Corporate Office.

WHEREAS, the City Council is desirous of promoting commercial development, and the creation of jobs within the City of Monticello, and

WHEREAS, Innovative Ag Services, an existing Monticello business is contemplating the addition to their business of an addition, approximately 4000 sf in size to house corporate offices and meeting areas, said addition to make room for approximately four (4) new employees to the community, all being mid-level to senior management positions, and

WHEREAS, Innovative Ag Services has agreed to construct the addition in such a manner that it will meet C-3 Zoning standards, and

WHEREAS, The Council finds that the proposed addition and jobs related thereto, coupled with the job creation, justify an expansion of the tax abatements set out within the City Code of Ordinances, and

WHEREAS, The Council finds that the City Administrator should be authorized to prepare and negotiate a Developer’s Agreement with Innovative Ag Services that will provide a partial property tax abatement over ten (10) years as set out in the letter to the City from Economic Development Director Marty Kelzer, a copy of same being attached hereto, and by this reference incorporated within this Resolution as if set forth fully verbatim herein, and also providing for the application of applicable C-3 Zoning requirements to said addition.

NOW, THEREFORE, BE IT RESOLVED that the City Council of Monticello, Iowa does hereby authorize the City Administrator to prepare and negotiate a Developer’s Agreement with Innovative Ag Services that will provide a partial property tax abatement over ten (10) years as set out in Economic Development Director Kelzer’s letter to the City, and also providing for the application of applicable C-3 Zoning requirements to said addition.