Economic Development Authority - Alison Bong, Deputy Finance Director
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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 2023
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Executive Summary
Pursuant to Minnesota statutes, the EDA will establish its 2023 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. The EDA is governed by the Blaine City Council who serve as the EDA's Board of Directors and President. The City Manager is the Executive Director of the Blaine EDA.
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.”
On December 18, 2021 the Economic Development Authority Board adopted the final 2022 levy of $750,000, an increase of $50,000 from the prior year levy.
Staff recommends a 2023 Preliminary EDA Property Tax Levy of $1,200,000. Members of the EDA Board have expressed intent to discuss and adopt increased levels of service for upcoming activities related to 105th redevelopment and Northtown Mall redevelopment. The recommended levy will provide the Board adequate time and flexibility to determine and adopt guidance related to service levels for upcoming development.
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 2023 funding parameters for the EDA.
Public Outreach/Input
No public notification required.
Staff Recommendation
Adopt the proposed 2023 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 $1,200,000, 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 19th day of September 2022.