HomeMy WebLinkAbout15-160 2016 Preliminary EDA Budget and Property Tax Levy
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 15-160
A RESOLUTION ADOPTING PROPOSED 2016 ECONOMIC DEVELOPMENT AUTHORITY
BUDGET AND CERTIFYING PRELIMINARY 2016 ECONOMIC DEVELOPMENT AUTHORITY
PROPERTY TAX LEVY TO SCOTT COUNTY DEPARTMENT OF TAXATION
Motion By: McGuire Second By: Kinney
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 2016 has been
determined to be approximately $515,000; and
WHEREAS, The Prior Lake EDA, at its regularly scheduled meeting of August 17, 2015, authorized
a 2016 tax levy for economic development purposes in the amount of $155,000 and a
2016 budget of $181,425.
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 preliminary tax levy of $155,000 and proposed budget of $181,425 are approved for payable year 2016.
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 2016.
PASSED AND ADOPTED THIS 28nd DAY OF SEPTEMBER, 2015.
VOTE Hedberg Keeney McGuire Morton Thompson
Aye
☒☒☒☒☐
Nay
☐☐☐☐☒
Abstain
☐☐☐☐☐
Absent
☐☐☐☐☐
______________________________
Frank Boyles, City Manager