8.3 SR 09-06-2022
Request for Action
To Item Number
Mayor and City Council 8.3
Agenda Section Meeting Date Prepared by
General Business September 6, 2022 Brent O’Neil, Economic Development Director
Item Description Reviewed by
Resolutions Establishing EDA and HRA Levies for Lori Ziemer, Finance Director
2023
Reviewed by
Cal Portner, City Administrator
Action Requested
Two actions are requested under this item:
1. Approve, by motion, the attached resolution establishing the EDA tax levy of $396,000 for collection
in year 2023.
2. Approve, by motion, the attached resolution establishing the HRA tax levy of $402,200 for collection
in year 2022.
Background/Discussion
In September each year, the EDA and HRA boards set their budget for the following year and recommend a
levy amount to the City Council to be certified to Sherburne County for collection the following year.
The EDA reviewed its 2023 budget on August 15, 2022, and recommended a 2023 funding of $396,000 for
inclusion in the levy, which is based on a budget of $405,000 and other revenues of $5,000 in interest income
and $4,000 in transfers in from the HRA. The maximum EDA levy amount allowed by state statute is
0.01813% of Estimated Market Value (EMV); this levy is approximately two-thirds of the maximum amount.
The August 1, 2022, HRA budget workshop identified the 2023 budget at $408,700 and proposes $6,500 in
interest income and a tax levy of $402,200. The HRA is expected to formally adopt these amounts at its
September 6, 2022, meeting. The maximum HRA levy amount allowed by state statute is 0.0185% of EMV;
this levy is approximately two-thirds of the maximum amount.
Financial Impact
The 2023 proposed levy for EDA is $396,000.
The 2023 proposed levy for HRA is $402,200.
Attachments
Resolutions for 2023 EDA Levy and 2023 HRA Levy
The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness, exceptional service, and
community engagement that encourages and inspires prosperity
Resolution 22-__
A Resolution of the City of Elk River Approving the 2023 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 2023.
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 $396,000 in the year 2023 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 6 day of September 2022.
John J. Dietz, Mayor
ATTEST:
Tina Allard, City Clerk
Resolution 22-
A Resolution of the City of Elk River Approving the 2023 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 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 2023.
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 $402,200 for the benefit of the Housing
and Redevelopment Authority.
th
Passed and adopted this 6 day of September 2022.
John J. Dietz, Mayor
ATTEST:
Tina Allard, City Clerk