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Item No: 8.G.2. <br /> Meeting Date: December 11, 2023 <br /> N1OTypeT TAT?ls VTL'1<�T of Business: Council Business <br /> V1V1J fE— City Administrator Review: <br /> City of Mounds View Staff Report <br /> To: City Council <br /> From: Gayle Bauman, Finance Director <br /> Item Title/Subject: Resolution 9832 Approving the EDA Property Tax Levy Request <br /> for Fiscal Year 2024 <br /> Previously the City's economic development activities were funded with tax increment revenues. <br /> These tax increment revenues were discontinued as required by state statute. This left the City <br /> with limited resources to continue existing business outreach, marketing, advertising, small scale <br /> incentives, property acquisitions, professional services, and staff training and development. The <br /> City Council, as part of the 3 year Strategic Plan, indicated that maintaining this levy is a priority. <br /> The EDA established levies in 2017 to help accomplish some of the above goals. There is no <br /> proposed increase in the total levied for 2024. <br /> The EDA adopted a request to the City to levy $100,000 on behalf of the EDA at the August 28, <br /> 2023 meeting and the City Council approved that request at the September 11, 2023 meeting and <br /> there is no change in that request since preliminary adoption. <br /> Respectfully submitted, <br /> Gayle Bauman <br /> Finance Director <br />