DATE FOR HEARING ON DEVELOPMENT AGREEMENT AND TAX INCREMENT PAYMENTS
(Mercy Care Management, Inc.)
Monticello, Iowa
July 15, 2019
A meeting of the City Council of the City of Monticello, Iowa, was held at the Monticello Renaissance Center, Community Media Room, Monticello, Iowa, 6:00 o’clock p.m., on July 15, 2019 pursuant to the rules of the Council.
The Mayor Brian Wolken presided and the roll was called, showing members present and absent as follows:
Present: Brenda Hanken, Rob Paulson, Candy Langerman, Chris Lux and Tom Yeoman
Absent: Dave Goedken
Council Member Langerman introduced the resolution next hereinafter set out and moved its adoption, seconded by Council Member Yeoman; and after due consideration thereof by the Council, the Mayor put the question upon the adoption of said resolution, and the roll being called, the following named Council Members voted:
Ayes: Langerman, Yeoman, Hanken, Paulson and Lux
Nays: None
Abstained: None
Whereupon, the Mayor declared said resolution duly
adopted, as follows:
RESOLUTION NO. 19-100
To Approve Development Agreement between City of Monticello and Mercy Care Management, Inc.,
WHEREAS, the City of Monticello, Iowa (the “City”), pursuant to and in strict compliance with all laws applicable to the City, and in particular the provisions of Chapter 403 of the Code of Iowa, has adopted an Urban Renewal Plan for the Monticello Urban Renewal Area (the “Urban Renewal Area”); and
WHEREAS, this City Council has adopted an ordinance providing for the division of taxes levied on taxable property in various Urban Renewal Areas pursuant to Section 403.19 of the Code of Iowa and establishing the fund referred to in Subsection 2 of Section 403.19 of the Code of Iowa, which fund and the portion of taxes referred to in that subsection may be irrevocably pledged by the City for the payment of the principal and interest on indebtedness incurred under the authority of Section 403.9 of the Code of Iowa to finance or refinance in whole or in part projects in the Urban Renewal Area; and
WHEREAS, the City proposes to enter into an agreement (the “Development Agreement”) with Mercy Care Management, Inc. (the “Developer”) with respect to the construction of a new medical center on a two-acre parcel of property located in the Welter Commercial park, and
WHEREAS, the Development Agreement would provide financial incentives to the Developer in the form of incremental property tax payments in an amount not to exceed $242,938, including $40,000 in grants and up to $202,938 in tax rebates to the Developer under the authority of Section 403.9(1) of the Code of Iowa, rebating a portion of real estate taxes paid for a number of years, and
WHEREAS, the City Council scheduled a public hearing on the proposed Development Agreement for tonight’s meeting, July 15, 2019 at 6:00 p.m., and
WHEREAS, The City Council has held the public hearing as scheduled.
NOW THEREFORE, IT IS RESOLVED by the City Council of the City of Monticello, Iowa, on this 15th day of July, 2019, by the approval of this Resolution, does hereby approve the proposed Development Agreement and incentives offered therein.
IN TESTIMONY WHEREOF, I have hereunto subscribed my name and caused the Great Seal of the City of Monticello, Iowa to be affixed hereto. Done this 15th day of July, 2019.
Brian Wolken, Mayor
Attest:
Sally Hinrichsen, City Clerk