RES 25-01City of
Elk
River
Resolution 25-01
A Resolution of the City of Elk River Economic Development Authority,
Establishing the Tax Levy for the Elk River Economic Development
Authority for the City of Elk River, Minnesota
WHEREAS, Minnesota Statutes 5469.107, Subd. 1, authorizes the Economic
Development Authority to levy an amount not to exceed .01813 percent of the estimated
market value within the city to be used for economic development purposes; and,
WHEREAS, the Elk River Economic Development Authority has considered at its
meeting on August 18, 2025, its 2026 budget and levy request; and,
WHEREAS, the Elk River Economic Development Authority has adopted and approved
its budget and recommended final leery and will forward such to the City of Elk River
pursuant to Minnesota Statutes §469.100, Subd. 2.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority
in and for the City of Elk River, Minnesota, that it hereby adopts a budget for 2026 in the
amount of $514,350, as attached, and requests the City Council of the City of Elk River to
levy a tax in the amount of $429,850for the year 2026 for the benefit of the Authority to be
used for Economic Development Authority purposes as provided by the statute.
Passed and adopted this 181h day of August, 2025.
ATTEST:
6""'1
Brent O'Neil, EDA Executive Director
ro�EeEe �r
INATUREJ