HomeMy WebLinkAbout24-05 EDA 2025 Budget and Levy
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 24-05 EDA
A RESOLUTION APPROVING THE 2025
ECONOMIC DEVELOPMENT AUTHORITY TAX LEVY AND BUDGET
Motion By: Marco Second By: Boucher-Hoese
WHEREAS, State Statute 469.107 subd. 1 provides that a city may, at the request of the Prior Lake
Economic Development Authority (EDA), levy a tax in any year for the benefit of the EDA in
an amount not to exceed 0.01813 percent of estimated market value; and
WHEREAS,
The EDA proposes a 2025 tax levy for economic development purposes in the amount of
$405,000; and
WHEREAS,
The EDA proposes a 2025 annual budget in the amount of $724,838.
NOW THEREFORE, BE IT HEREBY RESOLVED BY THE ECONOMIC DEVELOPMENT AUTHORITY OF
PRIOR LAKE, MINNESOTA as follows:
1. The recitals set forth above are incorporated herein.
2. The EDA requests that the Prior Lake City Council levy a special tax of $405,000 to be collected in 2025
pursuant to Minnesota Statutes 469.107.
3. The EDA requests that the Prior Lake City Council adopt the 2025 EDA annual budget in the amount of
$724,838.
Passed and adopted this 26th Day of August 2024.
VOTE Prchal Braid Marco Briggs Boucher-Hoese
Aye ☐ ☐ ☐ ☐ ☐
Nay ☐ ☐ ☐ ☐ ☐
Absent ☐ ☐ ☐ ☐ ☐
Abstain ☐ ☐ ☐ ☐ ☐
______________________________
Jason Wedel, Executive Director
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