Maa Verai LLC at City of Monticello

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This document is a City Council Memorandum dated January 5, 2026, recommending the approval of Ordinance 2026-05. The ordinance pertains to a redevelopment agreement between the City of Monticello and Maa Blessing LLC for the property at 309 N. Market Street. The project involves installing an on-site security system, with an estimated project cost of $11,000.00. The City recommends a reimbursement to Maa Blessing LLC of up to $5,500.00, representing 50% of the total project cost. The City Council is advised to approve this ordinance at its meeting on January 12, 2026.

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This document is a City Council memorandum recommending the approval of Ordinance 2026-04 for a Redevelopment Agreement. The agreement is with Heath Properties LLC for the property at 1056 S. Market Street in Monticello, Illinois. The project involves constructing a commercial building for 'Just Hamburgers' with an estimated project cost of $684,723, and a recommended reimbursement of up to $10,000 under the Monticello Building Improvement Grant Program.

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This document is a City Council Memorandum dated January 5, 2026, recommending approval of Ordinance 2026-08. The ordinance concerns a Redevelopment Agreement with BRELM LLC for a Building Improvement Grant under the Spring 2026 Monticello Building Improvement Grant Program. The grant is for exterior landscaping improvements at 214 W. Washington St. The estimated project cost is $6,380.45, with a recommended reimbursement from the city of up to $3,191.00. The City Council is recommended to approve this ordinance at their January 12, 2026 meeting.

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The document outlines the proposed 'Pilot Monticello Housing Rehabilitation Program' by the City of Monticello Economic Development Authority, utilizing Statewide Affordable Housing Aid (SAHA) funds. The program aims to support investment in owner-occupied housing stock within Monticello by offering grants ranging from $5,000 to $25,000, with an initial program allocation of $200,000. Eligibility is tied to income (115% AMI) and potentially age (55+), with a 5% applicant cash match required. The policy was scheduled for approval on January 14, 2026, with SAHA fund expenditure deadlines extending to December 31, 2030, and includes discussions for collaboration with Wright County.