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July 15, 2016 EDC Meeting
<br />Item 5A – EDA Levy
<br />Page 4 of 8
<br />Professional Fees: When redeveloping property to increase the long-term benefit to the
<br />community, attorneys must review the legal documents and be involve d in the
<br />transactions. Financial consultants also review economic development projects and
<br />conduct their financial analysis to determine the feasibility of each project and if
<br />subsidies are appropriate and legal for each proposed development. An EDA levy c ould
<br />help cover these types of costs.
<br />
<br />Training & professional development: In order to stay current on state statu tes and
<br />economic development programs, cities must continuously send their staff to training
<br />and professional development. Current training helps in preventing missteps and
<br />violations and ultimately law suits which can be costly to cities. Adequate training also
<br />helps staff stay abreast of the new economic development programs available and any
<br />changes to the policies of each program. A knowledgeable staff is good for business.
<br />
<br />The chart below, sourced from the Minnesota Department of Revenue, outlines the
<br />organizations that have an EDA/HRA levy.
<br />
<br />EDA's Port Authorities, & Development Commissions
<br />Certified Special Taxing District Levy Changes for CY 2015
<br />February 27, 2015
<br />
<br />
<br /> HOME Pay 2014 Pay 2015 $ Change
<br />%
<br />Change
<br /> COUNTY Final Certified Levy Levy
<br />SPECIAL TAXING DISTRICT NAME ID ID Levy Levy
<br />
<br />TOTALS
<br />
<br />90,348,467
<br />
<br />91,678,374
<br />
<br />1,329,907 1.5%
<br />
<br />
<br />
<br />
<br />VICTORIA EDA 017 10 0 188,000 188,000 #DIV/0!
<br />COLUMBUS EDA/HRA 059 02 75,267 81,375 6,108 8.1%
<br />EAST BETHEL EDA 063 02 123,022 123,022 0 0.0%
<br />ST CLOUD ECONOMIC DEV AUTH 065 73 333,000 353,000 20,000 6.0%
<br />RENVILLE COUNTY HRA-EDA 099 65 276,000 270,000 (6,000) -2.2%
<br />DAKOTA COUNTY CDA 113 19 6,643,476 6,829,714 186,238 2.8%
<br />SCOTT COUNTY HRA/CDA 164 70 2,445,823 2,517,278 71,455 2.9%
<br />WATERTOWN EDA 185 10 41,386 42,237 851 2.1%
<br />CARVER CO CDA (FKA HRA) 190 10 1,850,205 1,954,904 104,699 5.7%
<br />DAYTON EDA 216 27 10,867 10,867 0 0.0%
<br />NORTH BRANCH EDA/HRA 230 13 242,005 241,802 (203) -0.1%
<br />ARROWHEAD REG DEV COMM 301 69 550,133 566,637 16,504 3.0%
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