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City Council Minutes Page 7 <br /> September 2,2414 <br /> Mr. Simon stated that based upon the current net tax capacity of 0.47%, the average <br /> household based upon a house valued at$175,000 taxpayers would pay between $6-7 <br /> per year towards repayment of the inter-fund loan. <br /> Councilmember Motin requested the resolution include a condition that if the city <br /> does does receive grant money from this program, that the money would be used <br /> specifically for pay down of the debt. <br /> Mr. Simon stated any grant funds the city received could be taken off the total <br /> immediately so interest would not be incurred. <br /> Moved by Councilmember Motin and seconded by Councilmember <br /> Westgaard to adopt Resolution 14-49 authorizing an Inter-fund Loan for the <br /> Implementation of Quiet Zone Improvements as outlined in the staff report <br /> with the following additional condition: <br /> 6. All grand monies received by the city in order to implement the <br /> quiet zone improvements shall be used to offset the debt. <br /> Motion carried 5-0. <br /> 8.4 Set EDA and HRA Property Tax Levoes <br /> Mr, Simon presented the staff report. <br /> Moved by Councilmember Wilson and seconded by Councilmember <br /> Westgaard to adopt Resolution 14-50 approving the Housing and <br /> Redevelopment Authority Tax Levy. <br /> Motion carried 5-0.. <br /> Moved by Councilmember Wilson and seconded by Councilmember <br /> Westgaard to adopt Resolution 14-51 approving the 2015 tax levy for <br /> Economic Development purposes for the Elk River Economic Development <br /> Authority. <br /> Motion carried 5-0. <br /> 83 Stormwater Program Funding <br /> Mr. Femrite presented the staff report with a PowerPoint Presentation. <br /> Councilmember Motin stated he felt the fairest way to fund the stormwater program, <br /> based on the information presented,would be to assess a utility fee structured so <br /> those making the most impact would pay a higher fee. <br /> NATUREI <br />