2015.09.01 EDA Meeting PacketAGENDA
ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF CRYSTAL
• REGULAR MEETING •
TUESDAY, SEPTEMBER 1, 2015
6:45 P.M.
CRYSTAL CITY HALL
COUNCIL CHAMBERS
Call to order
2. Roll call
3. Approval of minutes from the August 18, 2015 special meeting *
4. Consider a resolution adopting a proposed HRA tax levy for 2016 *
5. Other business
6. Adjournment
* Materials attached
Minutes of the
Crystal Economic Development Authority
Special Meeting
August 18, 2015
President Peak called the special meeting of the Crystal. Economic Development Authority to
order at 8:18 p.m.
Upon call of the roll, the following members were present: Laura Libby, Casey Peak, Jim
Adams, Julie Deshler, Jeff Kolb, and Olga Parsons.
The following staff members were present: Anne Norris, Executive Director, John Sutter,
Deputy Executive Director, Dan Olson, City Planner, and Troy Gilchrist, Attorney.
Motion by Commissioner Kolb (Libby) to approve the minutes of the July 20, 2015 special
meeting.
Motion carried.
The EDA held a public hearing to consider a resolution authorizing the sale of a lot at 4553
Yates Avenue North to Day Construction for new house construction. Mr. Olson presented the
staff report. President Peak opened the public hearing. No one appeared and the hearing was
closed.
Motion by Commissioner Parsons (Deshler) to adopt Resolution #2015-9 authorizing the sale of
a lot at 4553 Yates Avenue North to Day Construction for new house construction.
Motion carried.
Other business: Commissioner Deshler asked staff for an update on the former Thriftway
property at 5717 West Broadway
Motion by Commissioner Parsons (Deshler) to adjourn the special meeting.
Motion carried.
The meeting adjourned at 8:25 p.m.
Casey Peak, President
ATTEST:
Elizabeth Dahl, Secretary
C�S
AL
EDA STAFF REPORT
Annual Resolution — 2016 HRA Levy
FROM: John Sutter, Community Development Director
DATE: August 27, 2015
TO: Anne Norris, Executive Director (for September 1, 2015 EDA meeting)
SUBJECT: Consider a resolution adopting a proposed HRA tax levy for 2016
As part of the annual budgeting process, the EDA formally requests a Housing and
Redevelopment Authority tax levy which would comprise part of its funding. The 2015
levy was $239,000 and the statutory maximum for 2016 is $268,981.
To reduce pressure on the 2016 General Fund budget some staff costs have been
shifted to the 2016 EDA budget. This reduces the amount of the annual levy available
for EDA projects. However, the EDA fund balance ($3,225,301 at the beginning of
2015) is available for project expenditures as they arise.
Staff has prepared five scenarios for consideration by the EDA board:
2016 Levy $ change % change Description
$239,000 0 0 Results in a $11,400 deficit (fund balance
used to pay for operations)
$246,200 +$7,200 +3.01% Approximate parity with preliminary General
Fund increase; results in a $4,200 deficit
(fund balance used to pay for operations)
$250,400 +$11,400 +4.77% Balanced EDA budget
$260,000 +$21,000 +8-79% Results in a $9,600 surplus (increase in fund
balance)
$268,981 +$29,981 +12.54% Statutory maximum levy; results in a $18,581
surplus (increase in fund balance)
EDA discussion of the desired levy amount and action on the attached resolution is
requested.
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ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF CRYSTAL
HENNEPIN COUNTY
STATE OF MINNESOTA
RESOLUTION NO.
RESOLUTION ADOPTING A PROPOSED 2016 BUDGET AND PROPERTY TAX LEVY
AND REQUESTING THEIR APPROVAL BY THE CITY COUNCIL
WHEREAS, the Economic Development Authority of the City of Crystal (the "EDA")
undertakes redevelopment and housing activities in the City of Crystal, Minnesota (the "City");
and
WHEREAS, pursuant to authority granted by Minnesota Statutes, Section 469.02 and
the enabling resolution of the EDA, the EDA exercises all of the powers of a housing and
redevelopment authority ("HRA") as described in Minnesota Statues, Section 469.001 to
469.047 (the "Act"); and
WHEREAS, under Section 469.033 Subdivision 6 of the Act, an HRA is authorized to
levy and collect special benefit taxes on all taxable property under the jurisdiction of the HRA,
that is, property in the City; and
WHEREAS, the permitted levy is 0.0185 percent of the estimated market value of the
property in the City.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority of the
City of Crystal as follows:
1. The EDA hereby adopts a 2016 proposed budget for housing and redevelopment in
the amount of $457,037.
2. The EDA hereby adopts a proposed property tax levy of $ for the
purpose of funding the adopted budget in conformance with Section 469.033, Subdivision 6 of
Minnesota Statutes.
3. The Executive Director is authorized and directed to transmit a certified copy of this
Resolution to the City Council of the City of Crystal for its consent and approval as provided by
Section 469.033 of the Act and for certification to the Property Tax Manager of Hennepin
County.
Adopted this day of , 2015.
Casey Peak, President
Anne Norris, Executive Director