City Council Meeting Date: September 21, 2021
To: Mayor and City Council
From: Ben Martig, City Administrator
Brenda Angelstad, Finance Director
Title
Consideration of Resolution Adopting Proposed 2021 Northfield Economic Development Authority (EDA) and Northfield Housing & Redevelopment (HRA) Tax Levies Payable in 2022.
Body
Action Requested:
Staff recommends approval of the attached Resolution Adopting Proposed 2021 Tax Levies Payable in 2022 with preliminary levy increases of approximately 10% from 2021 to 2022.
Summary Report:
Attached is the proposed levies for the EDA and the HRA. The levies represents an increase of 10.1% and 10.3 respectively. This increase is based on prior year net tax capacity.
Alternative Options:
Council can choose to pass a lower levy than the EDA is recommending.
Financial Impacts:
This levy impacts the EDA budget.
Tentative Timelines:
• The preliminary levy must be submitted to the county by September 30, 2021.
• The final levy will be considered for adoption in December 2021, at least after the public hearing on December 7, 2021.