HomeMy WebLinkAbout26-129 Approving Proposed 2027 Economic Development Authority Budget and Certifying Preliminary 2027 EDA Property Tax Levy
4646 Dakota Street SE Prior Lake, MN 55372
RESOLUTION 26-129 A RESOLUTION ADOPTING PROPOSED 2027 ECONOMIC DEVELOPMENT AUTHORITY BUDGET AND CERTIFYING PRELIMINARY 2027 ECONOMIC DEVELOPMENT AUTHORITY PROPERTY TAX LEVY TO SCOTT COUNTY DEPARTMENT OF TAXATION Motion By: Hellier Second By: Churchill 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 taxable market value; and WHEREAS, the maximum allowable EDA property tax levy for payable year 2027 has been
determined to be approximately $1,075,000; and WHEREAS, the Prior Lake EDA, at its regularly scheduled meeting of July 13, 2026,
discussed a 2027 tax levy for economic development purposes in the amount of $429,300 and a 2027 budget of $707,927. A resolution requesting budget and levy approval will be on their September 24, 2026 agenda.
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 preliminary tax levy of $429,300 and proposed budget of $707,927 are approved for payable year 2027. 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 2027. Passed and adopted by the Prior Lake City Council this 8th day of September 2026 VOTE Briggs Braid Churchill Lake Hellier
Aye ☒ ☐ ☒ ☒ ☒
Nay ☐ ☐ ☐ ☐ ☐
Abstain ☐ ☐ ☐ ☐ ☐
Absent ☐ ☒ ☐ ☐ ☐
______________________________ Jason Wedel, City Manager