VI.2. Resolution Approving the 2026 HRA Levy and Adopting the 2026 Economic Development Fund Budget; Bishop
CITY OF HOPKINS
City Council Report 2025-183
To: Honorable Mayor and Council Members
Mike Mornson, City Manager
From: Nick Bishop, Finance Director
Date: December 16, 2025
Subject: Approve 2026 HRA Levy and Adopt 2026 Economic Development Fund
Budget
_____________________________________________________________________
RECOMMENDED ACTION
MOTION TO Adopt Resolution 2025-080 Approving the 2026 HRA Levy and Adopting
the 2026 Economic Development Fund Budget
OVERVIEW
Staff recommend that City Council approve a final levy of $551,750, which is an
increase of $40,104 or 7.84% from 2025. The recommended levy is the maximum
based on levy limits of 0.01850% of the City’s estimated market value. The HRA/EDA
levy is a separate levy and appears on tax statements under Other Taxing Districts
Tax Year
Maximum
Allowable Levy
HRA/EDA
Levy $ Increase % Increase
2021 407,727 378,070 10,119 2.75%
2022 434,750 391,302 13,232 3.50%
2023 451,531 451,531 60,229 15.39%
2024 497,414 487,653 36,122 8.00%
2025 526,794 511,646 23,993 4.92%
2026-Proposed 551,750 551,750 40,104 7.84%
The Economic Development Fund budget being recommended decreases fund balance
by $35,770, with revenue of $656,750 and expenditures of $692,520. The fund plays an
important role in the City’s continued efforts for redevelopment, in 2026 it will support:
• Arts Center
• Art Street
• Elevate Hennepin
• Façade Improvement Program
• Marketing
• Public Art at Shady Oak &
Downtown LRT Stations
• ACE Program
• Think Hopkins
SUPPORTING INFORMATION
• Resolution 2025-080
Finance Department
CITY OF HOPKINS
HENNEPIN COUNTY, MINNESOTA
RESOLUTION 2025-080
RESOLUTION APPROVING THE 2026 HRA LEVY AND ADOPTING THE 2026
ECONOMIC DEVELOPMENT FUND BUDGET
THEREFORE BE IT RESOLVED, that the City Council of the City of Hopkins hereby
approves the following sums be levied for 2026 upon the taxable property in the City of
Hopkins, for the following purposes:
HRA LEVY
Housing & Redevelopment Authority Levy $551,750
This levy is made based on current law and the 2026 Economic Development Fund
Budget of $692,520
Adopted by the City Council of the City of Hopkins this 16th day of December, 2025.
By:___________________________
Patrick Hanlon, Mayor
ATTEST:
___________________________
Amy Domeier, City Clerk