HomeMy WebLinkAbout24-17 - ADMIN Resolution - Economic Development Authority - 2024/09/16
EDA Resolution No. 24-17
Authorizing 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
$187,000 and the city finds that such a levy is in the best interest of the city and EDA because it will
facilitate economic development,
Now therefore be it resolved that the St. Louis Park Economic Development Authority
hereby recommends that the city approve the preliminary levy of a tax for economic
development purposes pursuant to Section 469.107, subdivision 1 of the Act in the amount
equal to $187,000 with respect to taxes payable in calendar year 2025.
Reviewed for administration: Adopted by the St. Louis Park Economic
Development Authority September 16, 2024:
Karen Barton, executive director Lynette Dumalag, president
Attest:
Melissa Kennedy, city clerk
Docusign Envelope ID: 6E4DDB94-D980-4887-BA75-B740672602E1