09/05/2007 Council Packet - Laserfiche WebLink

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WS — Item 7 WORK SESSION STAFF REPORT Work Session Item 7 Date: Council Work Session, September 5, 2007 To: City Council From: Mary Divine Re: Anoka County EDA /HRA Background Anoka County has added economic development authority (EDA) responsibilities to its Anoka County Housing and Redevelopment Authority. The main goals of the Anoka County EDA, based on a study completed by an exploratory committee, will be assisting cities with tax base growth and job creation. Cities that participate in the EDA have additional resources available for economic development activities, including the use of the County's bonding capacity and staff resources. Anoka County is giving each city within its jurisdiction an opportunity to participate in the County EDA. An Anoka County HRA Board meeting will be held on September 11, 2007 to set the preliminary levy for the EDA. If the Lino Lakes City Council opts to participate, action in the form of a resolution will be placed the September 10 council meeting. How it Works Every Anoka County city has the option to participate in either the Anoka County HRA or the EDA, or both. The maximum tax rate for cities belonging to the County HRA is 0.0144% of taxable market value. Cities opting into the new EDA could be levied a maximum tax rate of 0.01813 %. In Lino Lakes, that means the maximum amount the Anoka County EDA could levy is $349,511, which would amount to $39.87 per year per household based on an average value ($216,000) home. However, Karen Skepper, Anoka County Community Development Manager, indicated at a recent council work session that the HRA has historically only levied the amount budgeted for the upcoming year, never the entire levy increase allowed by statute. Ms. Skepper indicated that the budget for 2008 would be $75,000 for a county -wide feasibility study for high speed interne. The study would inventory what is available within the county, where it is, and what areas of the county are most in need of upgrades. 1