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City of <br />Elk <br />River <br />Resolution 25-01 <br />A Resolution of the City of Elk River Economic Development Authority, <br />Establishing the Tax Levy for the Elk River Economic Development <br />Authority for the City of Elk River, Minnesota <br />WHEREAS, Minnesota Statutes 5469.107, Subd. 1, authorizes the Economic <br />Development Authority to levy an amount not to exceed .01813 percent of the estimated <br />market value within the city to be used for economic development purposes; and, <br />WHEREAS, the Elk River Economic Development Authority has considered at its <br />meeting on August 18, 2025, its 2026 budget and levy request; and, <br />WHEREAS, the Elk River Economic Development Authority has adopted and approved <br />its budget and recommended final leery and will forward such to the City of Elk River <br />pursuant to Minnesota Statutes §469.100, Subd. 2. <br />NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority <br />in and for the City of Elk River, Minnesota, that it hereby adopts a budget for 2026 in the <br />amount of $514,350, as attached, and requests the City Council of the City of Elk River to <br />levy a tax in the amount of $429,850for the year 2026 for the benefit of the Authority to be <br />used for Economic Development Authority purposes as provided by the statute. <br />Passed and adopted this 181h day of August, 2025. <br />ATTEST: <br />6""'1 <br />Brent O'Neil, EDA Executive Director <br />ro�EeEe �r <br />INATUREJ <br />