HomeMy WebLinkAbout24-144 Resolution Adopting 2025 Economic Develoment Authority Buget4646 Dakota Street SE Prior Lake. MN 55372
RESOLUTION 24-144
A RESOLUTION ADOPTING 2025 ECONOMIC DEVELOPMENT AUTHORITY BUDGET AND
CERTIFYING 2025 ECONOMIC DEVELOPMENT AUTHORITY PROPERTY TAX LEVY TO
SCOTT COUNTY DEPARTMENT OF TAXATION
Motion By: Second By: ---------
WHEREAS, State statute requires the Prior Lake City Council to certify a 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 2025 has been determined to be approximately $1,034,000; and
WHEREAS, the Prior Lake EDA, at its regularly scheduled meeting of August 26, 2024, authorized a 2024 tax levy for economic development purposes in the amount
of $405,000 and a 2025 budget of $724,838.
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 $405,000 and budget of $724,838 are approved for payable year 2025.
3.That the Economic Development Authority tax levy be distributed upon the taxable property in
said City for the purposes of economic development in payable 2025.
Passed and adopted by the Prior Lake City Council this 10th day of December 2024
VOTE Briggs Braid Burkart Churchill Lake
Aye □ □ □ □ □
Nay □ □ □ □ □
Abstain □ □ □ □ □
Absent □ □ □ □ □
Jason Wedel, City Manager
Braid Briggs