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Elk REQUEST FOR ACTION <br /> River <br /> To Item Number <br /> Mayor and City Council 8.1 <br /> Agenda Section Meeting Date Prepared by <br /> General Business September 4, 2012 Tim Simon, Finance Director <br /> Item Description Reviewed by <br /> 2013 Tax Levies and Set Budget Meeting Date Cal Portner, City Administrator <br /> Reviewed by <br /> Action Requested <br /> 1. Adopt resolution authorizing the proposed property tax levy for collection in 2013. <br /> 2. Adopt resolution approving the Housing and Redevelopment Authority 2013 tax levy. <br /> 3. Adopt resolution approving the Elk River Economic Development Authority 2013 tax levy. <br /> 4. Motion to set the budget meeting at which public comment will be taken for December 3, 2012, <br /> 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 15, <br /> 2012. Based on Council direction,the attached levy resolution calls for a levy identical to last year's total <br /> levy in the amount of$10,275,815. This means the amount of taxes collected for the city will not increase <br /> from last year. <br /> Over the next several months we will review updated numbers and adjustments to finalize the budget for <br /> adoption on December 3. The Economic Development Authority (EDA) will consider decertifying tax <br /> increment financing (TIF) district 19 at its September or October meeting. TIF district 16 which is <br /> considerably smaller will be considered by the Housing Redevelopment Authority (HRA) sometime in <br /> December. <br /> The HRA and EDA rates did not change from 2012 and have been approved by both commissions. <br /> Financial Impact <br /> Various tax levies for collection in 2013. <br /> Attachments <br /> ■ Resolution authorizing the proposed property tax levy for collection in 2013 <br /> ■ Resolution approving the Housing and Redevelopment Authority 2013 tax levy <br /> ■ Resolution approving the 2013 tax levy for economic development purposes for the Elk River <br /> Economic Development Authority <br /> ■ 2013 General Fund Budget Summary <br /> Action Motion by Second by Vote <br /> N:\Public Bodies\City Council\Council RCA\Agenda Packet\09-04-2012\8.12013maximumtaxlevies.docx <br />