9.2. EDSR 08-11-2003 •
City of
Elk -�-�
River
MEMORANDUM
TO: Economic Development Authority
FROM: Catherine Mehelich, Director of Economic Development
DATE: August I I, 2003
SUBJECT: Resolution Regarding EDA Levy
Attachment
Resolution Establishing the Tax Levy for the Elk River EDA for year 2004
• Issue
As in previous years, the EDA requests that the City Council levy the maximum
amount for economic development in the year 2004. The City must certify its
proposed maximum levy, including EDA and HRA levies, to Sherburne County
annually in September.
Recommendation
Staff is recommending the EDA approve the resolution establishing the tax levy for the
Elk River Economic Development Authority and requesting that the City Council of
the City of Elk River levy a tax in the amount of.01813 percent of the taxable market
value in the city for the year 2004 for the benefit of the Authority to be used for
Economic Development Authority purposes as provided by the statute.
•
• RESOLUTION 03 -
A RESOLUTION OF THE ELK RIVER
ECONOMIC DEVELOPMENT AUTHORITY
A RESOLUTION ESTABLISHING THE TAX LEVY FOR THE ELK RIVER
ECONOMIC DEVELOPMENT AUTHORITY IN AND FOR THE CITY OF
ELK RIVER, MINNESOTA
WHEREAS, Minnesota Statutes, Section 469.107, Subdivision 1, authorizes the
Economic Development Authority to levy an amount not to exceed
.01813 percent of the taxable market value in the city to fund the
Authority's anticipated budget needs for the fiscal year 2004; and,
WHEREAS, the Elk River Economic Development Authority will adopt and
approve its budget and will forward such to the City of Elk River
pursuant to Minnesota Statutes, Section 469.100, Subdivision 2.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development
Authority in and for the City of Elk River, Minnesota, that it hereby requests the City
Council of the City of Elk River to levy a tax in the amount of.01813 percent of the
• taxable market value in the city for the year 2004 for the benefit of the Authority to be
used for Economic Development Authority purposes as provided by the statute.
Passed and adopted by the Elk River Economic Development Authority this 11`h day
of August, 2003.
Jeff Gongoll, President
ATTEST:
Catherine Mehelich, Executive Director
•