HomeMy WebLinkAbout14-194 Adoption of 2015 Budget and Tax Levy (EDA)
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 14-194
A RESOLUTION ADOPTING THE 2015 ECONOMIC DEVELOPMENT AUTHORITY BUDGET
AND CERTIFYING THE 2015 ECONOMIC DEVELOPMENT AUTHORITY PROPERTY TAX
LEVY TO SCOTT COUNTY DEPARTMENT OF TAXATION
Motion By: MCGUIRE Second By: KEENEY
WHEREAS, Truth in Taxation provisions as specified by state statute requires the Prior Lake City
Council to certify a proposed property tax levy to the Scott County Department of
Taxation; and
WHEREAS, State Statute 469.107 subd. 1 provides that a city may, at the request of the Economic
Development Authority, levy a tax in any year for the benefit of the authority in an amount
not to exceed 0.01813 percent of taxable market value; and
WHEREAS, The maximum allowable EDA property tax levy for payable year 2015 has been
determined to be approximately $475,000; and
WHEREAS, The Prior Lake EDA, at its regularly scheduled meeting of November 17, 2014,
authorized a 2015 tax levy for economic development purposes in the amount of
$187,500 and a 2015 budget of $188,595; and.
WHEREAS, The Prior Lake EDA reconsidered its 2015 budget at the December 1, 2014 special
meeting and authorized a reduction to the levy to $159,000 with the budget remaining at
$188,595 including utilization of $22,095 of EDA Reserve.
NOWTHEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE,
MINNESOTA as follows:
1.The recitals set forth above are incorporated herein.
2.A final tax levy of $159,000 and proposed budget of $188,595 are approved for payable year 2015.
3.That the proposed Economic Development Authority tax levy be distributed upon the taxable property in
said City for the purposes of economic development in payable 2015.
PASSED AND ADOPTED THIS 8 DAY OF DECEMBER, 2014.
th
VOTE Hedberg Keeney McGuire Morton Soukup
Aye
☒☒☒☐☒
Nay
☐☐☐☒☐
Absent
☐☐☐☐☐
Abstain
☐☐☐☐☐
______________________________
Frank Boyles, City Manager