HomeMy WebLinkAbout23-111 - ADMIN Resolution - City Council - 2023/09/18
Resolution No. 23-111
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
$877,000 and the city finds that such a levy is in the best interest of the city and EDA because it
will facilitate economic development; and
Now therefore be it resolved that the City Council of St. Louis Park 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 $877,000 with respect to taxes payable in calendar year 2024.
Reviewed for administration: Adopted by the city council September 18, 2023
Kim Keller, city manager Jake Spano, mayor
Attest:
Melissa Kennedy, city clerk
DocuSign Envelope ID: 9AC47A9E-C215-49AD-AE1A-2AB16A204773