HomeMy WebLinkAbout22-145 - ADMIN Resolution - City Council - 2022/09/29Resolution No.22-145
Approving a present intent to levy a tax for Economic
Development Authority purposes pursuant to
Minnesota Statutes,Section 469.107
Whereas,pursuant to Minnesota Statutes,Sections 469.090 through 469.1082,as
amended (the "Act"),the city established the St.Louis Park Economic Development Authority (the
"EDA");and
Whereas,Section 469.107,subdivision 1 of the Act authorizes the city,at the request of
the EDA,to levy and collect a tax of up to 0.01813%of the estimated market value of taxable
property within the city,levied upon all taxable real property within the city,for economic
development purposes;and
Whereas,the EDA has requested that the city approve such a levy in the amount of
.00586%of the estimated market value of taxable property within the city,and the city finds that
such a levy is in the best interest of the city and EDA because it will facilitate economic
development.
Now therefore be it resolved that the St.Louis Park City Council hereby approves the
levy of a tax for economic development purposes pursuant to Section 469.107,subdivision 1 of
the Act in the amount equal to .00586%of the estimated market value of taxable property within
the city (expected to be approximately $500,000)with respect to taxes payable in calendar year
2023.
Reviewed for administration:a kw
Kim Keller,city manager
Attest:
A o ed by the city council September 29,2022