The City of Monticello, Iowa
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF MONTICELLO, IOWA
RESOLUTION #18-18
Resolution to approve second and final TIF Grant payment to B & J Hauling
and Excavation in the amount of $15,000 related to the Urban
Renewal project located at 218 W. 1st Street.
WHEREAS, The City of Monticello entered into a Development Agreement with B & J Hauling & Excavating (Brian Monk) wherein the City agreed to the payment of two TIF Grant payments, in addition to other incentives, to B & J, and
WHEREAS, The agreement provided that the first payment in the amount of $5,000 was to be paid upon demolition of existing structures and grading of the lot with the second payment, in the amount of $15,000 to be paid upon completion of the new structure as proposed, and
WHEREAS, The first payment, in the amount of $5,000 was previously approved for payment and Brian Monk, owner of B & J now requests the 2nd and final payment in the amount of $15,000, and
WHEREAS, The Council finds that the Developer has met its obligations under the terms of the development agreement and that the second and final TIF grant payment in the amount of $15,000 should at this time be paid.
NOW, THEREFORE, BE IT RESOLVED that the City Council of Monticello, Iowa does hereby approve of the 2nd TIF Grant payment to B & J Hauling & Excavation in the amount of $15,000 at this time, and authorizes the City Clerk’s Office to make said payment.
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 5th day of February, 2018.
Brian Wolken, Mayor
Attest:
Sally Hinrichsen, Monticello City Clerk