8.4. SR 09-18-2017 Eclty1� ,.,�� Request for Action
River
To Item Number
Mayor and City Council 8.4
Agenda Section Meeting Date Prepared by
General Business September 18, 2017 Amanda Othoudt,EDD
Item Description Reviewed by
Economic Development Authority and Housing Lori Ziemer, Finance Director
Redevelopment Authority Tax Levies Reviewed by
Cal Portner, City Administrator
Action Requested
■ Adopt,by motion, a resolution authorizing the preliminary Economic Development Authority
2018 tax levy.
■ Adopt,by motion, a resolution authorizing the preliminary Housing and Redevelopment
Authority 2018 tax levy.
Background/Discussion
The Council must approve the preliminary tax levy for the Economic Development Authority (EDA) and
Housing and Redevelopment Authority (HRA) for certification to the County Auditor on or before
September 30, 2017.
Over the past several months, the EDA and HRA have reviewed and prepared their 2018 budgets.
The EDA approved their budget and levy on August 21, 2017. The budget proposes maintaining the
previous general operating levy at 0.01813 percent of the Estimated Market Value,which is the state cap.
The HRA approved their budget and levy on August 7, 2017. The rate decreased slightly from 0.01466
percent to 0.0140 percent of the Estimated Market Value which is well below the state cap of 0.0185
percent.
Financial Impact
EDA & HRA tax levy for collection in 2018.
Attachments
■ Resolution approving the preliminary 2018 tax levy for economic development purposes for the
Elk River Economic Development Authority.
■ Resolution approving the preliminary 2018 tax levy for the Housing and Redevelopment
Authority.
The Elk River Vision
A PehoMing community 2a itb revolutionary and spirited resourcefulness, exceptional POWERED By
service, and community engagement that encourages and inspires prosperity INAWRE1
City of
Elk
River
Resolution 17-
A Resolution of the City of Elk River Approving the 2018 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 2018.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk
River,Minnesota, 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 2018
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 181hday of September 2017.
John J. Dietz,Mayor
ATTEST:
Tina Allard, City NATUREJ
�j
City of
Elk
River
Resolution 17-
A Resolution of the City of Elk River Approving the 2018 Tax Levy for the
Housing and Redevelopment Authority.
WHEREAS, the Housing and Redevelopment Authority in and for the City of Elk River
has requested that the city authorize a levy of.0140% 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,Minnesota, as follows: The Housing and Redevelopment Authority in and for the City
of Elk River certify a levy of.0140% of the estimated market value in the city for the benefit
of the Housing and Redevelopment Authority.
Passed and adopted this 181h day of September 2017.
John J. Dietz,Mayor
ATTEST:
Tina Allard, City NATUREJ