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be allowed to levy $393,375. The majority of the levy would be used to purchase properties that are targeted for development/redevelopment and to fund consulting services such 'as appraisal services attributed to the desired property. The EDA levy is not limited to housing and/or redevelopment, but can be spent on such items as vacant land, monument signs and other economic development related activities. The EDA authorized a levy of $393,375 at their September meeting. With this being a non-levy limit year, by levying through the EDA, the EDA levy will be added to the General Fund levy in creating the city's starting levy limit if levy limitations are placed on the City in succeeding years. She added that this is just adopting the levy amount, not the budget. Upon inquiry, Ms. Lund replied that the debt service levy is totally separate. Motion by Councilmember Elvig and seconded by Councilmember Jeffrey to recommend the City Council adopt the resolution approving the recommendation of the EDA and approve the Proposed EDA Levy for Payable 2007 in the amount of$393,375. Further discussion: Councilmember Strommen stated that the EDA recommended this and the discussion is the EDA has been pretty aggressive - you have to have funds to do things. Motion carried. Voting Yes: Councilmembers Elvig, Jeffrey and Strommen. Voting No: None. Case #4: Adopt Resolution Approving Proposed 2007 HRA Levy Finance Officer Lund stated that the levy has already been passed by the HRA - the HRA is a passing board - four members were present at the meeting so three of the members do not know the amount of the levy. The maximum is $312.443, which is based on .0144% of the City's total taxable market value of $2,169,745,200. The levy would again be used to fund personnel, consulting services, and property acquisitions. She added that the HRA is just starting. It will take awhile to build up this fund. She added the Committee does not even have to vote on this, she just wanted to give them an update. No action necessary. Case #5: Adopt Resolution Approving Proposed 2007 Payable Tax Levy Finance Officer Lund stated that the EDA levy is included for 393,000 and this includes all Capital Equipment Certificates; a big chunk of this is the Municipal Center. She added that $114,362 was levies last year. The Mississippi Subdrainage is also included. The total for the 2007 payable tax levy is $9,089,158; the amount for 2006 was 7,102,066. It's high this year and we have been very conservative in our estimation of the revenue as the building permits are really taking a hit. Ms. Lund stated that the Truth in Taxation meeting has to be set also. She suggested Monday, December 4, beginning at 6:00 p.m., with a reconvene date of December 11. Ms. Lund reported that the increase for 2007 is 10% and the Statewide average increase is 11 %. Ms. Lund referred to a comment made in the newspaper about the new City Hall - referred to as the "Taj Mahal". She pointed out that the amount the residents would be taxed is $15.00 per