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Motion by Mayor Gamec, seconded by Councilmember Anderson, to recommend that the City Council adopt the resolution adopting the 2002, payable 2003 Municipal Tax Levy. Motion carried. Voting Yes: Mayor Gamec, Councilmembers Anderson, Kurak, and Zimmerman. Voting No: Councilmembers Hendriksen. Motion by Mayor Gamec, seconded by Councilmember Anderson, to recommend that the City Council adopt the resolution adopting the 2003 City of Ramsey General Fund Operating Budget. Motion carried. Voting Yes: Mayor Gamec, Councilmembers Anderson, Kurak, and Zimmerman. Voting No: Councilmembers Hendriksen. Case #2: Review and Adopt Proposed 2003 HRA Levy Finance Officer Lund stated that on November 28, 1998, the City Council approved a resolution creating the EDA for the City of Ramsey. The resolution gives all the statutory powers of an Economic Development Authority (EDA) and Housing Redevelopment Authority (HRA) to the Ramsey EDA. The EDA budget has been funded primarily through three sources: 1) the City General Fund, 2) proceeds from the sale of City owned property, and 3) monies fi'om the Landfill Closure Statement. Property tax reform implemented for taxes payable in 2002, along with levy limits, have limited the amount of funding necessary for land acquisition for redevelopment projects. The levy is based on the City's taxable market value and for payable 2003, the City would be allowed to levy $176,121. At the EDA's monthly meeting on Monday, September 9, 2002, they authorized a levy to be issued at 40 percent of the total possible levy, or $70,448. This levy could be used to pay the City back for the purchase of Alloy Recovery. The enabling resolution adopted in 1998 requires that all recommendations by the EDA be sent to the City Council for approval before any action is taken. The City Council adopted the proposed HRA Levy of $70,448 at its regular meeting of September 11, 2002. Motion by Mayor Gamec, seconded by Councilmember Kurak, to recommend that the City Council adopt the resolution adopting the 2002, Payable 2003 HRA Tax Levy. Further discussion: Councilmember Hendriksen inquired if the levy would be applied to all of the properties in the City of Ramsey. Finance Officer Lurid replied yes, explaining that it will be based on the market values of the properties within the City. Motion cmTied. Voting Yes: Mayor Gamec, and Councilmembers Kurak, and Anderson. Voting No: Councihnember Hendriksen and Zimmerman. Councilmember Zimmerman stated that he thought that they could have taken the funds from someplace else rather than having an additional levy. Councilmember Hendriksen agreed. Finance Committee/December 10, 2002 Page 2 of 4