HomeMy WebLinkAbout09 11 2017 EDA Resolution 02 RESOLUTION 17-02 EDA
A RESOLUTION APPROVING THE PROPOSED
2018 ECONOMIC DEVELOPMENT AUTHORITY TAX LEVY AND BUDGET
Motion By: Braid Second By: Boucher-Hoese
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 EDA proposes a 2018 tax levy for economic development purposes in the
amount of$140,000; and
WHEREAS, The EDA proposes a 2018 annual budget in the amount of$153,597.
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$140,000 to be collected in
2018 pursuant to Minnesota Statutes 469.107.
3. The EDA requests that the Prior Lake City Council adopt the 2018 annual budget in the amount of
$153,597.
PASSED AND ADOPTED THIS 11th DAY OF SEPTEMBER 2017.
VOTE Chromy Braid Sheehan- Briggs Boucher-
Kerber Hoese
Aye1l
Nay ❑ ❑ ❑ ❑ ❑
Absent ❑ ❑ ❑ ❑ ❑
Abstain ❑ ❑ ❑ ❑ ❑
FrankBoyI , Ex ve Director