City Council Meeting Date: September 18, 2018
To: Mayor and City Council
From: Ben Martig, City Administrator
Brenda Angelstad, Finance Director
Title
Consideration of Resolution Adopting a Proposed 2018 Northfield Housing and Redevelopment Authority (HRA) Tax Levy Payable in 2019.
Body
Action Requested:
Staff recommends approval of the recommended Resolution Adopting a Proposed 2018 Tax Levy Payable in 2019 with a preliminary levy increase of 5.0% from 2018 to 2019.
Summary Report:
Attached is the proposed levy for the HRA. The levy represents an increase of 5.0%. This increase is reflective of an early estimate of the tax capacity increase for 2019.
Alternative Options:
Council can choose to pass a lower levy than the HRA is recommending.
Financial Impacts:
This levy impacts the HRA budget.
Tentative Timelines:
• The preliminary levy must be submitted to the county by September 30, 2018.
• The final levy will be considered for adoption in December 2018, at least after the public hearing on December 4, 2018.