HomeMy WebLinkAbout03-14 - ADMIN Resolution - Economic Development Authority - 2003/12/15ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY
EDA RESOLUTION NO. 03-14
AUTHORIZING THE LEVY OF A SPECIAL BENEFIT LEVY
PURSUANT TO MINNESOTA STATUTES, SECTION 469.033, SUBDIVISION 6
AND APPROVAL OF A BUDGET FOR FISCAL YEAR 2004
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 .0144 percent of taxable 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
0144 percent of taxable market value in the City for taxes payable in 2004; and
WHEREAS, pursuant to Minnesota Statutes, Section 275.065, the Authority is required to
adopt a and tax levy and submit the same to the County Auditor by December 25, 2003; and
WHEREAS, the Authority has before it for its consideration a copy of a budget for its
operations for the fiscal year 2003 and the amount of the levy for collection in 2004 shall be
based on this budget
NOW, THEREFORE, be it resolved by the Board of Commissioners of the St. Louis Park
Economic Development Authority:
1. The budget of $543,125 for the operations of the Authority in fiscal year 2004, 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 budget 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, currently estimated to be
$3,771,698,700, with respect to taxes payable in calendar year 2004,
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 2004.
EDA Resolution No. 03-14 -2-
Approved by the Board of Commissioners of the St. Louis Park Economic Development
ity this 15`h day of December, 2003,
Administration:
ATTEST:
S cretary
1 W1