Adopt Resolution Approving Proposed 2013 EDA Levy

On November 28, 1998 the City Council approved a resolution creating the EDA for the City of Ramsey. The resolution gives all the statutory powers of an Economic Development Authority (EDA) and Housing and Redevelopment Authority (HRA) to the Ramsey EDA.

The EDA budget has been funded primarily through the EDA Levy.

The levy is based on the City’s total taxable market value of the preceding year. For payable 2012, the City would be allowed a maximum levy of $321,996. A significant portion of the levy can be used for personnel services and other operational costs, housing and /or redevelopment costs. The EDA levy can be used to buy property, professional services, marketing activities, and the like.

At a special EDA meeting on Thursday, September 6, 2012, the EDA authorized a levy of $169,853.  This would hold the levy constant with the 2012 certified levy.  The EDA wanted the levy to remain constant due to the fact that they had reduced the levy by 42% for 2012 payable and would like to have some flexibility on EDA projects that may arise in 2013.

The City Council had proposed an EDA Levy amount of $104,466 at its budget worksessions.

The proposed levy of $169,853 would place a $19.13 tax on a residential home valued at $200,000.  A proposed levy of $104,466 would place a $11.76 tax on a residential home valued at $200,000.

The enabling resolution adopted in 1998 requires that all recommendations by the EDA be sent to the City Council for approval before any action is taken.

Based on the recommendation of the city council at budget worksessions approval of the EDA levy for Payable 2013 in the amount of $104,466. 

2013 EDA levy supports the 2013 EDA budget which will be formally adopted in December 2012.