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City of <br />Elk <br />River <br />Resolution 22-03 <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 approved a motion at its <br />meeting on August 15, 2022, recommending to the City Council a preliminary levy of <br />$396,000 which was subsequently adopted by the Council on September 6, 2022; and, <br />WHEREAS, the Elk River Economic Development Authority has adopted and approved <br />its budget and recommended final levy 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 requests the City Council of the <br />City of Elk River to levy a tax in the amount of $396,000 for the year 2023 for the benefit of <br />the Authority to be used for Economic Development Authority purposes as provided by the <br />statute. <br />Passed and adopted this 19`' day of September, 2022. <br />ATTEST: <br />Brent O'Neil, EDA Executive Director <br />Dan Tveite, EDA President <br />P0VEAEI 81 <br />NATUR <br />