VII.4. Resolution Approving Proposed 2023 HRAEDA Tax Levy; Bishop
September 6, 2022 Council Report 2022-078
APPROVE PROPOSED 2023 HRA/EDA TAX LEVY
Proposed Action
Staff recommends adoption of the following motion: Move to approve Resolution 2022-055 Approving a
proposed 2023 HRA/EDA 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 based on 0.01850% of the City’s estimated market value. The market value
used for the 2023 Levy is $2,440,709,800, resulting in a maximum tax levy of $451,531 which would be
an increase of $60,229 or 15.39% from 2022. The HRA/EDA Levy was set at the maximum allowed in
2018-2020 and lesser amounts in 2021-2022.
The HRA/EDA Levy is the main revenue source for the City’s Economic Development Fund and plays an
important role in the City’s continued efforts for redevelopment. The fund also supports Artstreet, the Arts
Center, the Façade Improvement program, and marketing efforts. The HRA/EDA levy is a separate levy
and appears on tax statements under Other Taxing Districts.
Staff is recommending that council approve the resolution setting the proposed levy for HRA/EDA
operations at $451,531.
Supporting Information
• Resolution 2022-055
____________________________________
Nick Bishop, Finance Director
Tax Year
Maximum
Allowable Levy
HRA/EDA
Levy $ Increase
%
Increase
2018 331,367 331,337 21,137 6.81%
2019 350,154 350,154 18,817 5.68%
2020 367,951 367,951 17,797 5.08%
2021 407,727 378,070 10,119 2.75%
2022 434,750 391,302 13,232 3.50%
2023-Proposed 451,531 451,531 60,229 15.39%
CITY OF HOPKINS
Hennepin County, Minnesota
RESOLUTION NO. 2022-055
RESOLUTION APPROVING THE
PROPOSED 2023 HRA/EDA TAX LEVY
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF HOPKINS, MINNESOTA,
That the following sum be levied for 2023 upon the taxable property in the City of Hopkins,
for the following purposes.
HRA/EDA Levy
Housing & Redevelopment Authority Levy $ 451,531
That the levy is 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 6th day of September 2022.
By
Patrick Hanlon, Mayor
ATTEST:
Amy Domeier, City Clerk