City Council Meeting Date: September 15, 2020
To: Mayor and City Council
From: Ben Martig, City Administrator
Brenda Angelstad, Finance Director
Title
Consideration of Resolution Adopting a Proposed 2020 Northfield Housing and Redevelopment Authority (HRA) Tax Levy Payable in 2021.
Body
Action Requested:
Council consider approval of the attached Resolution Adopting a Proposed 2020 Tax Levy Payable in 2021 with a preliminary levy increase of 4.0% from 2020 to 2021.
Summary Report:
Attached is the proposed levy for the HRA. The levy represents an increase of 4.0%. This increase is reflective of an early estimate of the tax capacity increase for 2021.
Please see attached staff report to the HRA on the background memo for the budget and related levy request. This was approved for recommendation by the HRA at their August meeting.
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, 2020.
• The final levy will be considered for adoption in December 2020, at least after the public hearing on December 1, 2020.