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The levy is based on the City's total taxable market value of the preceding year. For payable 2014, the City would <br />be allowed a maximum levy of $327,574, but as stated earlier, this calculates into the 2014 mandatory levy limits. <br />A significant portion of the levy can be used for personnel services and other operational costs, housing and /or <br />redevelopment costs. The EDA levy can be used to buy property, professional services, marketing activities, and <br />the like. <br />The EDA is being requested to authorize a levy of $136,739. This represents a $32,273 or a 30.89% increase over <br />the 2013 adopted EDA levy of $104,466. The increase in levy is attributed to the increase in personnel costs as <br />noted above. <br />The proposed levy of $136,739 would place a $15.14 tax on a residential home valued at $200,000. <br />Funding Source: <br />EDA levy supports the EDA operating budget. <br />Staff Recommendation: <br />Develop a recommendation from the EDA board to the City Council for the 2014 proposed EDA budget and levy. <br />Action: <br />Develop a recommendation from the EDA board to the City Council for the 2014 proposed EDA budget and levy. <br />2014 Proposed EDA Budget <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Patrick Brama Patrick Brama 08/01/2013 11:36 AM <br />Kurt Ulrich Kurt Ulrich 08/03/2013 12:08 PM <br />Form Started By: Diana Lund Started On: 08/01/2013 09:36 AM <br />Final Approval Date: 08/03/2013 <br />