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City Council Resolution 2016-62CITY OF MONTICELLO WRIGHT COUNTY, MINNESOTA RESOLUTION NO. 2016 -062 APPROVING A SPECIAL BENEFIT LEVY BY THE CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY WHEREAS, pursuant to Minnesota Statutes, Sections 469.090 to 469.1082, as amended (the "EDA Act "), the City of Monticello, Minnesota (the "City ") previously established the City of Monticello Economic Development Authority (the "Authority "); and WHEREAS, pursuant to the EDA Act, the Authority is authorized to exercise all powers and duties of a housing and redevelopment authority under the provisions of Minnesota Statutes, Sections 469.001 to 469.047 (the "HRA Act "); and WHEREAS, Section 469.033, subd. 6, of the HRA Act permits the Authority to levy and collect a special benefit tax of up to .0185 percent of taxable market value in the City, levied upon all taxable real property within the City, WHEREAS, the special benefit tax levy authorized by Section 469.033, subd. 6 of the HRA Act is separate and distinct from the City's levy and is not subject to levy limits; and WHEREAS, the Authority has adopted a budget for fiscal year 2017 that provides for the levy of a special benefits tax in the amount of .0185 percent of taxable market value in the City, to be used for its economic development and redevelopment activities, and has submitted such budget to the City pursuant to Minnesota Statutes, Section 469.033, Subdivision 6; and WHEREAS, the Authority has adopted a resolution approving the levy of a special benefit tax in the amount of .0185 percent of taxable market value in the City, subject to approval of such special benefit tax by the City. NOW, THEREFORE, BE IT RESOLVED by the City Council (the "City Council ") of the City of Monticello as follows: 1. The City Council of the City hereby accepts the budget submitted by the Authority for the fiscal year 2017. 2. The City Council of the City hereby approves the levy by the Authority of a special benefit tax pursuant to Minnesota Statutes, Section 469.033, Subdivision 6, in an amount not to exceed $280,000 with respect to taxes payable in calendar year 2017. Approved by the City Council of Monticello, Minnesota this 12th day of September, 2016. G Brian Stumpf, Mayo ATTEST: J 7 fifer chr ' er, City Clerk 466722v1 MNI MN190 -101