The City of Monticello, Iowa
RESOLUTION #2023-102
Preliminarily approving Proposed Amendment to Monticello Urban Renewal Plan to include BR5 LLC Project, and to schedule a Public Hearing on the proposed Urban Renewal Plan amendment for the 7th day of August 2023 at 6:00 p.m.
WHEREAS, The City of Monticello is contemplating the entry into a development agreement with BR5 LLC pertaining to construction of a 12-unit Workforce Housing apartment building located at and describes as described as Lot 2 of BR3 Subdivision 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 BR5 LLC project, 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 7th day of August, 2023 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 7th day of August 2023 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 3rd day of July, 2023.
David Goedken, Mayor
Attest:
Sally Hinrichsen, City Clerk