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Resolution 21-144

The City of Monticello, Iowa

IN THE NAME AND BY THE AUTHORITY OF THE CITY OF MONTICELLO, IOWA

RESOLUTION #2021-144

Preliminarily approving Proposed Amendment to Monticello Urban Renewal Plan to include Oak Street Manufacturing Project, and to schedule a Public Hearing on the proposed Urban Renewal Plan amendment for the 3rd day of January 2022 at 6:00 p.m.

WHEREAS,    The City of Monticello is contemplating the entry into a development agreement with Oak Street Manufacturingin relation to the proposed construction of a new 40,000 square foot manufacturing facility at The northernmost 371 feet of the easternmost 250 +/- feet of Lot 11 of Welters First Addition, a portion of the tract of land having PIN 0234351001 in the City of Monticello, County of Jones, State of Iowa, and

WHEREAS,    The Council is concurrently considering amendments to the Urban Renewal Plan to provide for the granting of incentives to said Oak Street Manufacturingproject, and

WHEREAS,    A public hearing must also be scheduled to add the proposed project to the Urban Renewal Plan before the City may utilize TIF to pay for said obligations under the Development Agreement, and

WHEREAS,    The Council finds that a Public Hearing should be set for 3rd day of January, 2022 to amend the Monticello Urban Renewal Plan should the Development Agreement be approved.

NOW, THEREFORE, BE IT RESOLVED by the City Council  does hereby schedule a Public Hearing for the 3rd day of January, 2022 at 6:00 p.m. at the regularly scheduled City Council Meeting, same to be held in Council Chambers at the Monticello Renaissance Center, at which time the Council will consider the approval of the amendment of the Monticello Urban Renewal Plan to allow for the use of tax increment to satisfy and/or pay the incentives as set forth within the Development Agreement.

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 November, 2021.

Brian Wolken, Mayor

Attest:

Sally Hinrichsen, City Clerk