HomeMy WebLinkAbout17-19 - ADMIN Resolution - Economic Development Authority - 2017/09/18ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY
EDA RESOLUTION NO. 1719
AUTHORIZING THE PROPOSED LEVY OF
A SPECIAL BENEFIT LEVY PURSUANT TO MINNESOTA STATUTES,
SECTION 469.033, SUBDIVISION 6 AND APPROVAL
OF A PRELIMINARY BUDGET FOR FISCAL YEAR 2015
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 HRA. Act permits the Authority to
levy and collect a special benefit levy of up to 0.0185 percent of estimated market value in the City
upon all taxable real property within the City; and
WHEREAS, the Authority desires to levy a special benefit levy in the amount of up to
0.0185 percent of estimated market value in the City for taxes payable in 2018; and
WHEREAS, pursuant to Minnesota Statutes, Section 275.065, the Authority is required to
adopt a proposed budget and a proposed tax levy and submit the same to the County Auditor by
September 29; and
WHEREAS, the Authority has before it for its consideration a copy of a proposed budget
for its operations for the fiscal year 2018 and the amount of the proposed levy for collection in
2018 shall be based on this budget and the long range financial management plan, subject to any
adjustments in the budget as finally approved prior to certification of the final special benefit levy.
NOW THEREFORE, be it resolved by the Board of Commissioners of the St. Louis Park
Economic Development Authority:
1. The proposed budget of $1,172,786 for the operations of the Authority in fiscal year
2018, as presented for consideration by the City Council, is hereby in all respects approved, subject
to final approval by the Authority before certification of the tax levy under Minnesota Statutes,
Section 275.07.
2. Staff of the Authority are hereby authorized and directed to file the proposed budget
with the City in accordance with Minnesota Statutes, Section 469.033, Subdivision 6.
3. The proposed special benefit levy pursuant to Minnesota Statutes, Section 469.033,
Subdivision 6, is hereby approved in a maximum amount equal to 0.0185 percent of estimated
market value in City of St. Louis Park, currently estimated to be $6,339,381,200, with respect to
taxes payable in calendar year 2018, subject to final approval by the Authority before certification
of the special benefit levy pursuant to Minnesota Statutes, Section 275.07.
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 payable in 2018 and to take such
EDA Resolution No. 17-19
other actions as are necessary to bring before the Board the final budget and levy to be sent to the
county aAditor on or before five working days after December 20, 2017.
for Administration Adopted by the Economic Development
Authority September 18, 2017
K. ftrkkeiling, Executive Director
Attest:\�ffli
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Melissa Kenned} , cr tary
Anne Mavity, President