HomeMy WebLinkAbout07-19 - ADMIN Resolution - Economic Development Authority - 2007/12/17ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY
EDA RESOLUTION NO. 07-19
RESOLUTION AUTHORIZING THE HRA LEVY FOR 2008
AND APPROVAL OF THE EDA BUDGET FOR FISCAL YEAR 2008
WHEREAS, pursuant to Minnesota Statutes, Section 469.090 to 469.108 (the "EDA
Act"), the City Council of the City of St. Louis Park created the St. Louis Park Economic
Development Authority (the "Authority"); and
WHEREAS, pursuant to the EDA Act, the City Council granted to the Authority all of
the powers and duties of a housing and redevelopment authority under the provisions of the
Minnesota Statutes, sections 469.001 to 469.047 (the "HRA Act"); and
WHEREAS, Section 469.033, subdivision 6 of the Act authorizes the Authority to levy a
tax upon all taxable property within the City to be expended for the purposes authorized by the
HRA Act; and
WHEREAS, such levy may be in an amount not to exceed 0.0144 percent of taxable
market value of the City; and
WHEREAS, the Authority has filed its budget for the special benefit levy in accordance
with the budget procedures of the City; and
WHEREAS, based upon this budget, the Authority will levy all or such portion of the
authorized levy as it deems necessary and proper;
NOW THEREFORE BE IT RESOLVED by the St. Louis Park Economic
Development Authority:
1. The special benefit tax levy budget of $796,848 for the operations of the Authority in
fiscal year 2008, as presented for consideration by the City Council, is hereby in all
respects approved, by the Authority for certification of the tax levy under Minnesota
Statutes, Section 275.07,
2. Staff of the Authority are hereby authorized and directed to file the EDA's budget of
$2,320,030 with the City in accordance with Minnesota Statutes, Section 469.033,
Subdivision 6.
3. The special benefit levy pursuant to Minnesota Statutes, Section 469.033, Subdivision
6, is hereby approved in a maximum amount equal to .0144 percent of taxable market
value in City of St. Louis Park,
4. Staff of the Authority are hereby authorized and directed to seek the approval by
resolution of the City Council of the levy of special benefit taxes in 2008.
EDA Resolution No. 07-19 -2-
Passed and duly adopted by the Board of Directors of the St. Louis Park Economic Development
this 17th day of December, 2007.
for Administration: Adopted by the Economic Development Authority
December 17, 2007
President
Attest: