Economic Development Authority - Joe Huss, Finance Director/Asst. City Manager
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Authorize the Blaine Economic Development Authority, Having all the Powers of a Housing Redevelopment Authority, to Levy a Property Tax upon the Taxable Property in the City of Blaine for 2022
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Executive Summary
Pursuant to Minnesota statutes, the EDA will establish its 2022 preliminary tax levy.
Background
Minnesota statutes require special taxing districts to certify preliminary property tax levies to county auditors by September 30. The Blaine Economic Development Authority (EDA) functions as a special taxing district and is therefore, authorized to levy taxes under these same enabling statutes.
From the City’s most recent Comprehensive Plan, Blaine will encourage “through land use and the City’s EDA (Economic Development Authority), development that creates access to sustainable jobs for the residents of Blaine. Development of corporate offices, professional and financial services, research, medical manufacturing and medical services, education and emerging industrial technology will be focal points in helping to create a well-balanced and vital economy for the City and its residents.” The City, through the EDA, will “dedicate staff resources to monitoring the economic health of the City and assisting businesses in relocation or expansion within the City.”
For 2021, the EDA adopted a levy of $700,000 - a $125,000 reduction from the 2020 EDA levy of $825,000. For 2022, staff is recommending a tax levy of $750,000.
Strategic Plan Relationship
The EDA levy is a component of the city’s strategic priority of Financial Stability.
Board/Commission Review
The EDA/City Council has reviewed the proposed EDA levy at previous Council Workshops.
Financial Impact
As the main source of funding for EDA operations, the levy will establish 2022 funding parameters for the EDA.
Public Outreach/Input
No public notification required.
Staff Recommendation
Adopt the proposed 2022 Preliminary EDA property tax levy pursuant to statutes.
Attachment List
Body
WHEREAS, the Blaine Economic Development Authority (the “EDA”) has the powers provided in Minnesota Statutes 469.001 through 469.017 (the “ACT”); and
WHEREAS, the EDA will continue to develop and implement programs in accordance with the Act and consistent with the City’s 2040 Comprehensive Plan; and
WHEREAS, Minnesota Statutes, Section 469.033, Subdivision 6, allows the levy of a special district tax not to exceed 0.0185% (.000185) of taxable market value for purposes specified therein.
NOW, THEREFORE, BE IT RESOLVED, that the Blaine Economic Development Authority approves of and consents to a levy of $750,000, but not to exceed 0.0185% of taxable market value of the City as authorized by the Act and described above.
PASSED by the Blaine Economic Development Authority this 20th day of September 2021.