The City of Monticello, Iowa
RESOLUTION #2024-127
Approving Submission of Letter of Support and Financial Commitment
to the Main Street Iowa Challenge Grant Application.
WHEREAS, The Monticello Main Street is applying for the Main Street Iowa Challenge Grant for the Flynn Properties located at 119 East First Street. The Challenge Grant is Main Street Iowa’s building improvement grant; and
WHEREAS, Flynn Properties plans a full renovation of the first and second floor of 119 East First Street. This will bring a high-quality housing unit back onto the market along with activating the underutilized first floor. Structural stabilization, electrical, plumbing, HVAC and windows are all included in this property. Once completed, the building will be firmly set to last another century in Monticello’s historic downtown, and
WHEREAS, the Council finds that renovating the building would be beneficial in that it would keep the renovated building standing, keep property on the tax rolls, and not create two large holes in the downtown landscape; and
WHEREAS, Letters of Support and financial commitment must be received for submission in the Grant Application by no later than September 4th, as Monticello Main Street will need for submission on September 5th. The Council finds that the proposed letter of support, a copy of same being appended hereto, setting forth the commitment of the City to fund the cost share portion of the grant, should said grant be approved as outlined below.
NOW, THEREFORE, BE IT RESOLVED that the City Council of Monticello, Iowa does hereby agree to committing a cost share toward the project, in the amount of 10% of the project, up to $25,000, depending upon the amount of the Challenge Grant funded, with the form and substance of which (whether cash, property tax rebates, abatements, or in-kind services, etc.) to be determined, and authorizes the Mayor to execute letters of support for the project on behalf of the City Council.
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 September, 2024.
Wayne Peach, Mayor
Attest:
Sally Hinrichsen, Monticello City Clerk