8.3. SR 09-16-2019 EOty1� ,.,�� Request for Action
River
To Item Number
Mayor and City Council 8.3
Agenda Section Meeting Date Prepared by
General Business September 16, 2019 Amanda Othoudt,EDD
Item Description Reviewed by
Economic Development Authority and Housing Lori Ziemer, Finance Director
and Redevelopment Authority Tax Levies Reviewed by
Cal Portner, City Administrator
Action Requested
1. Adopt,by motion, a resolution authorizing the preliminary Economic Development Authority 2020
tax levy.
2. Adopt,by motion, a resolution authorizing the preliminary Housing and Redevelopment Authority
2020 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, 2019.
The EDA approved their budget and levy on August 19, 2019. The budget proposes a tax levy of
$334,450, or 0.0113 percent of the preliminary$2,962,252,700 estimated market value. The state
maximum levy for the EDA for economic development purposes is 0.01813 percent of the estimated
market value.
The HRA approved their budget and levy on September 3, 2019. The budget proposes a tax levy of
$370,250, or 0.0125 percent of the estimated market value. This is below the state cap of 0.0185 percent
of the estimated market value that can be used for housing and redevelopment purposes.
Financial Impact
EDA & HRA tax levy for collection in 2020.
Attachments
■ Resolution approving the 2020 tax levy for economic development purposes for the Elk River
Economic Development Authority.
■ Resolution approving the 2020 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 19-
A Resolution of the City of Elk River Approving the 2020 Tax Levy for
Economic Development Purposes for the Elk River Economic Development
Authority
WHEREAS, the Economic Development Authority for the City of Elk River has
requested the city authorize to levy a tax for the benefit of the EDA for economic
development purposes; and,
WHEREAS, the City Council of the City of Elk River has consented to this levy for the
year 2020.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk
River,Minnesota, as follows: The Economic Development Authority for the City of Elk
River certify a tax levy in the amount of$334,450 in the year 2020 for the benefit of the City
of Elk River Economic Development Authority to be used for economic development
purposes as provided under Minnesota Statue 469.090 et.seq.
Passed and adopted this 161h day of September,2019.
John J. Dietz,Mayor
ATTEST:
Tina Allard, City NATUREJ
City of
Elk
River
Resolution 19-
A Resolution of the City of Elk River Approving the 2020 Tax Levy for the
Elk River Housing and Redevelopment Authority for the City of Elk River,
Minnesota
WHEREAS, the Housing and Redevelopment Authority in and for the City of Elk River
has requested the city authorize to levy a tax for various housing and redevelopment
purposes; and,
WHEREAS, the City Council of the City of Elk River has consented to this levy for the
year 2020.
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 tax levy in the amount of$370,250 for the benefit of the Housing
and Redevelopment Authority.
Passed and adopted this 161h day of September,2019.
John J. Dietz,Mayor
ATTEST:
Tina Allard, City NATUREJ