HomeMy WebLinkAbout23-151 Resolution Approving Final 2024 EDA Budget and Property Tax Levy
4646 Dakota Street SE Prior Lake, MN 55372
RESOLUTION 23-151 A RESOLUTION ADOPTING PROPOSED 2024 ECONOMIC DEVELOPMENT AUTHORITY BUDGET AND CERTIFYING FINAL 2024 ECONOMIC DEVELOPMENT AUTHORITY PROPERTY TAX LEVY TO SCOTT COUNTY DEPARTMENT OF TAXATION Motion By: BRAID Second By: BRIGGS WHEREAS, 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 estimated market value; and WHEREAS, the maximum allowable EDA property tax levy for payable year 2024 has been
determined to be approximately $1,133,998; and WHEREAS, the Prior Lake EDA, at its regularly scheduled meeting of August 14, 2023,
authorized a 2024 tax levy for economic development purposes in the amount of $390,000 and a 2024 budget of $647,396.
NOW THEREFORE, 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 tax levy of $390,000 and proposed budget of $649,834 are approved for payable year 2024. 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 2024. Passed and adopted by the Prior Lake City Council this 4th day of December 2023 VOTE Briggs Braid Burkart Churchill Lake
Aye ☒ ☒ ☒ ☒ ☒
Nay ☐ ☐ ☐ ☐ ☐
Abstain ☐ ☐ ☐ ☐ ☐ Absent ☐ ☐ ☐ ☐ ☐
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Jason Wedel, City Manager