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REQUEST FOR ACTION <br />To Item Number <br />Mayor and City Council 6.3. <br />Agenda Section Meeting Date Prepared by <br />Worksession Se tember 12, 2011 Tim Simon, Finance Director <br />Item Description Reviewed by <br />Adopt 2012 Tax Levies and Set Budget Meeting Date Robert Thistle, Interim City <br /> Administrator <br /> Reviewed by <br />Action Requested <br />1. A resolution authorizing the proposed property tax levy fox collection in 2012. <br />2. A resolution approving the Housing and Redevelopment Authority 2012 tax levy. <br />3. A resolution approving the Elk River Economic Development Authority 2012 tax levy. <br />4. A motion to set the budget meeting at which public comment will be taken for December 5, <br />2011, at 6:30 p.m. <br />Background/Discussion <br />The Council must approve the maximum tax levy for certification to the County Auditor by September <br />15, 2011. Based on Council direction, the attached levy resolution calls for a levy identical to last year's <br />total levy in the amount of $11,112,391. <br />At the last Council meeting staff was directed to include the public works building permit revenue and <br />the transfer in from the Capital Outlay reserve which relates to the general fund capital items. As a result <br />the column labeled maximum levy has been updated with those items from the last meeting. The 2012 <br />preliminary budget with the maximum tax levy has a positive gap of $17,546 prior to the use of fund <br />balance and any other adjustments (including cola) we make prior to final adoption after receiving public <br />input on December 5, 2011. <br />Detail budget information distributed for the 2012 budget work sessions with department staff is not <br />included with this memo. If you would like another copy of that material, please contact me. <br />Financial Impact <br />Various tax levies for collection in 2012. <br />Attachments <br />^ Resolution authorizing the proposed property tax levy for collection in 2012 <br />^ Resolution approving the Housing and Redevelopment Authority 2012 tax levy <br />^ Resolution approving the 2012 tax levy for economic development purposes for the Elk River <br />Economic Development Authority <br />^ 2012 General Fund Budget Summary <br />^ General Fund Revenues <br />