8.3. SR 09-21-2020
Request for Action
To Item Number
Mayor and Council 8.3
Agenda Section Meeting Date Prepared by
General Business September 21, 2020 Amanda Othoudt, EDD
Item Description Reviewed by
Economic Development Authority and Lori Ziemer, Finance Director
Housing and Redevelopment Authority Tax
Reviewed by
Levies
Cal Portner, City Administrator
Action Requested
1. Adopt, by motion, a resolution authorizing the preliminary Economic Development Authority 2021 tax
levy.
2. Adopt, by motion, a resolution authorizing the preliminary Housing and Redevelopment Authority 2021
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,
2020.
The EDA approved their budget and levy on September 21, 2020. The budget proposes a tax levy of $363,150, or
0.0133% of the preliminary $2,721,937,400 estimated market value in spring. 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 8, 2020. The budget proposes a tax levy of $321,450, or
0.0118 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 2021
Mission/Policy/Goal
Council Mid-term goal: Commercial Development
Council Long-term goal; C/I Development
Attachments
Resolution approving the 2021 tax levy for economic development purposes for the Elk River Economic
Development Authority.
Resolution approving the 2021 tax levy for the Housing and Redevelopment Authority
The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness, exceptional
service, and community engagement that encourages and inspires prosperity.
Updated: August 2020
Resolution 20-_____
A Resolution of the City of Elk River Approving the 2021 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 2021.
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 $363,150 in the year 2021 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.
th
Passed and adopted this 21 day of September, 2020.
John J. Dietz, Mayor
ATTEST:
Tina Allard, City Clerk
Resolution 20-_____
A Resolution of the City of Elk River Approving the 2021 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 2021.
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 $321,450 for the benefit of the Housing
and Redevelopment Authority.
th
Passed and adopted this 21 day of September, 2020.
John J. Dietz, Mayor
ATTEST:
Tina Allard, City Clerk