The City of Monticello, Iowa
RESOLUTION #2025-17
Approving the use of Tax Increment Financing receipts to cover
the engineering fees from Snyder & Associates, the City’s engineer,
in relation to the N. Chestnut Street Reconstruction Project
WHEREAS, The City of Monticello previously established the Original Urban Renewal Area and Urban Renewal Plan for the City which has been amended from time to time, and
WHEREAS, The Monticello City Council chose to proceed with the reconstruction of North Chestnut Street with the costs and expenses of the N. Chestnut Street reconstruction project to be paid with Tax Increment Financing, and
WHEREAS, A portion of the engineering fees invoiced by Snyder & Associates, in relation to the N. Chestnut Street reconstruction project, was paid from the Road Use Fund, in 2020 and 2023, totaling $32,739.71, and fees paid from the General Fund Engineering totaling $2,414.80, and should have been paid from the TIF Project Fund, and
WHEREAS, A transfer from TIF Project Fund into the Road Use Fund and the General Fund, respectively in the amounts listed, above is appropriate, and
NOW, THEREFORE, BE IT RESOLVED, that the City Council of Monticello, Iowa does hereby approve of the transfer of Tax Increment Financing funds to cover the engineering fees invoiced by Snyder & Associates related to N. Chestnut Street Reconstruction project into the Road Use and General Fund, as listed above.
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 February, 2025.
Wayne Peach, Mayor
Attest:
Sally Hinrichsen, City Clerk/Treasurer