VII.4. Approval of Proposed 2022 HRA-EDA Tax Levy; Bishop
September 7, 2021 Council Report 2021-080
APPROVE PROPOSED 2022 HRA/EDA TAX LEVY
Proposed Action
Staff recommends adoption of the following motions:
Move to approve Resolution 2021-049 Approving proposed 2022 HRA tax levy.
Overview
The City is required to certify a proposed HRA/EDA tax levy and submit it to the county by September
30th. There are levy limits for HRA/EDA levies which are based on the market value of personal and real
estate property. For Hopkins the market value is $2,349,997,300 and the allowed levy is 0.0185% of total
market value or $434,749, which would be a $56,679 or 14.99% increase from 2021. The proposed levy
is $391,302, which is an increase of $13,232 or 3.50% from 2021.
A proposed Economic Development Fund budget is in the process of being prepared using the proposed
levy. This is the main income source for our economic development activities and therefore the levy
plays an important role in our continued efforts for redevelopment. When the budget is presented for
review we have the opportunity to reduce but not increase the levy at that time.
Staff is recommending that council approve the resolution setting the proposed levy for HRA/EDA
operations at $391,302.
Supporting Information
• Resolution 2021-049
____________________________________
Nick Bishop, Finance Director
CITY OF HOPKINS
Hennepin County, Minnesota
RESOLUTION NO. 2021-049
RESOLUTION APPROVING THE
PROPOSED 2022 HRA TAX LEVY
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF HOPKINS, MINNESOTA,
That the following sum be levied for 2022 upon the taxable property in the City of Hopkins,
for the following purposes.
HRA/EDA Levy
Housing & Redevelopment Authority Levy $ 391,302
That the levy is under the maximum allowable based on 0.01850% of market value as
allowed by law for the City’s Economic Development purposes.
BE IT FURTHER RESOLVED that the City Clerk is hereby ordered and directed to transmit a certified
copy of this resolution to the County Auditor of Hennepin County, Minnesota.
Adopted by the City Council of the City of Hopkins this 7th day of September 2021.
By
Jason Gadd, Mayor
ATTEST:
Amy Domeier, City Clerk