City of Monticello, Iowa
RESOLUTION #2025-157
Approving FY 2027 TIF Certification
WHEREAS, The City of Monticello is required to prepare and file a TIF certification with the County Auditor on an annual basis, and
WHEREAS, The purpose of the TIF certification is to identify the sums that need to be collected for deposit into the City TIF fund so that the TIF fund can meet its’ debt obligations, with the caveat that the funds collected and on hand by the City cannot exceed the total outstanding balance of TIF related debt and obligations, and
WHEREAS, The City Council has reviewed the proposal of the City Administrator and City Clerk with regard to a proposed TIF certification, and finds that the City should certify the intent to collect $850,000 in increment, de-certifying for FY 2027 the balance of increment that could be collected.
NOW, THEREFORE, BE IT RESOLVED that the City Council of Monticello, Iowa does hereby authorize the City Clerk to request the certification of TIF in such an amount as to bring about the collection and deposit into the City TIF fund the sum of $850,000 for FY 2027.
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 November, 2025.
Wayne Peach, Mayor
Attest:
Sally Hinrichsen, City Clerk/Treasurer