8.6. SR 09-08-2015 Eclty1� ,.,�� Request for Action
River
To Item Number
Mayor and City Council 8.6
Agenda Section Meeting Date Prepared by
General Business September 8, 2015 Tim Simon, Finance Director
Item Description Reviewed by
Economic Development Authority and Housing Amanda Othoudt,Economic Development
Redevelopment Authority Levies Director
Reviewed by
Cal Portner, City Administrator
Action Requested
■ Adopt,by resolution, the preliminary Economic Development Authority 2016 tax levy.
■ Adopt,by resolution, the preliminary Housing and Redevelopment Authority 2016 tax levy.
Background/Discussion
The Council must approve the preliminary tax levy for the Housing and Redevelopment Authority
(HRA) and Economic Development Authority (EDA) for certification to the County Auditor on or
before September 15, 2015. The city maximum tax levy must be certified by September 30, 2015.
Overall the past several months, the EDA and HRA have reviewed and prepared their 2016 budgets.
The EDA approved their budget and levy on August 17, 2015. The rate of 0.01813 percent of Estimated
Market Value did not change from last year.
The HRA approved their budget and levy on August 3, 2015. The rate went up slightly from 0.0144
percent to 0.01512 percent of Estimated Market Value which is well below the state cap at 0.0185
percent.
Financial Impact
Various tax levies for collection in 2016.
Attachments
■ Resolution approving the preliminary 2016 tax levy for economic development purposes for the
Elk River Economic Development Authority
■ Resolution approving the preliminary Housing and Redevelopment Authority 2016 tax levy
POWERED 6T
Template Updoted 4/14 INAWRE1
City of
Elk
River
Resolution 15-
A Resolution of the City of Elk River Approving the 2016 Tax Levy for
Economic Development Purposes for the Elk River Economic Development
Authority
WHEREAS, the City Council of the City of Elk River has received a request from the
Economic Development Authority to levy a tax for the benefit of the Authority in the
amount of.01813% of estimated market value in the city for the year of 2016.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River
as follows: The City Council of the City of Elk River proposes that a tax in the amount of
.01813% of the estimated market value in the city be levied in the year 2016 for the benefit
of the City of Elk River Economic Development Authority to be used for Economic
Development Authority purposes as provided under Minnesota Statute 469.090 et.se .
Passed and adopted this 81hday of September 2015.
John J. Dietz,Mayor
ATTEST:
Tina Allard, City NATUREJ
�j
City of
Elk
River
Resolution 15-
A Resolution of the City of Elk River Approving the Housing and
Redevelopment Authority Tax Levy
WHEREAS, the Housing and Redevelopment Authority in and for the City of Elk River
has requested that the city authorize a levy of.01512% of the estimated market value of the
city for various housing and redevelopment purposes; and,
WHEREAS, the City Council of the City of Elk River has consented to this levy.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River
that the Housing and Redevelopment Authority in and for the City of Elk River certify a
levy of.01512% of the estimated market value in the city for the benefit of the Housing and
Redevelopment Authority.
Passed and adopted this 81h day of September 2015.
John J. Dietz,Mayor
ATTEST:
Tina Allard, City NATUREJ