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Mr. Sullivan responded the odds of that happening were slim at the present time. <br /> <br />Member Kurak asked about the cleanup on the Chies property. <br /> <br />Discussion followed regarding who was responsible to pay for the cleanup, what cleanup' needed <br />to be done and the time line for having the property ready for sale. <br /> <br />Mr. Sullivan gave information regarding the funding that would help pay for the preparation of <br />the Chies/Morrell properties. <br /> <br />Member Kurak asked when the properties would be ready for sale. <br /> <br />Mr. Sullivan replied they would probably be ready next spring. <br /> <br />Discussion followed regarding available funding to the EDA and the appropriate time for <br />spending available funds. <br /> <br />There was discussion regarding the HRA Levy' by the EDA approved by the City Council. The <br />following was noted: 2003 (Pay 2004) Taxable Market Value of $1,389,430,100 x Statutory <br />Maximum Levy Rate of 0.0144% = Maximum Levy Amount of $200,077.93. <br /> <br />There was also discussion regarding the tax levy per dollar of market value (maximum levy) and <br />hypothetical levy amounts. It was explained the Tax Levy per Dollar of Market Value <br />(Maximum Levy) of $0.000144 equaled a Tax Levy for a $150,000 Home of $21.60 and a Tax <br />Levy for a $200,000 Home of $28.80. <br /> <br />Member Steffen asked how this issue would obtain taxpayer response if the EDA voted to <br />approve. <br /> <br />Mr. Sullivan responded the item would be on the Council agenda and taxpayers could attend the <br />meeting. He added a public hearing would not be needed, however. <br /> <br />Member Kurak indicated there would be a lot of discussion regarding this issue when it went to <br />Council. She added it would be a political football, which would be "sliced and diced." <br /> <br />Member Kurak noted franchise fees were coming back. She indicated residents would say the <br />City was subsidizing businesses in Ramsey. <br /> <br />Member Gromberg asked if most of the $200,000 levy amount would go for capital <br />improvements. <br /> <br />Mr. Sullivan indicated that was correct. <br /> <br />Mr. Gromberg asked regarding the proposed EDA budget for next year. <br /> <br />Economic Development Authority / September 8, 2003 <br /> Page 6 of 11 <br /> <br /> <br />