City Council Meeting Date: September 6, 2016
To: Mayor and City Council
City Administrator
From: Chris Heineman, Community Planning & Development Director
Melanie Lammers, Finance Director
Title
Approve the Preliminary Tax Levy for the Housing and Redevelopment Authority (HRA)
Body
Action Requested:
The Northfield City Council is being asked to approve a resolution with the preliminary property tax levy for the HRA.
Summary Report:
It is a requirement of state law to approve a preliminary special tax levy on or before September 15th of each year.
Financial Impacts:
The HRA maximum levy authority is set by state law and expressed as a .0185% of taxable market value. Staff is recommending the HRA preliminary levy be set at maximum level as allowed by State law. This has been the practice in recent history. The levy calculated was $233,968. This is an increase of $10,000 in revenue from 2016 to 2017.
The preliminary 2017 budget and related levy that have been completed by staff are included in the background materials. The HRA has not yet formally met to review the preliminary budget. They meet on September 21 and will review at that time. However, the information was included in the information presented to the City Council at the budget worksession of August 23rd.
Community Planning & Development Director Heineman will be in attendance to present this agenda item.
Alternative Options:
The City Council could establish a lower levy amount. This is not recommended by staff.
Tentative Timelines:
The Finance department must submit the preliminary special levy to the county by September 15th, 2016.