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a plat that increases would be coming up. Councilmember Zimmerman commented this was done when the Met Council was going to 2-½ acres, and they notified everyone that they had a certain amount of time to get land platted. Chairperson Elvig suggested notification be triggered at a 30 percent increase and anything over $100, and that staff come back to the Finance Committee with a recommendation. Case #2: Adopt Resolution Approving Proposed 2005 EDA & HRA Levy Financc Officer Lund explained the EDA has levied an HRA levy in prior years when levy limits were in place. An HRA levy falls outside of levy limits, whereas, an EDA levy is included in a City's levy limit total. At the EDA's monthly meeting on Wednesday, September 8, 2004, the EDA authorized a levy of $233,306. The EDA chose to levy $200,306 through the EDA with $33,000 via the HRA levy. The HRA levy will remain in place so that the City will be able to collect $33,000 in fiscal disparities from the 2004 pool. If the City did not issue any portion through the HRA, the $33,000 in fiscal disparities would be redistributed to other communities. As 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 tile City in succeeding years. Councihnember Strommen explained the maximum was higher under the EDA levy, but the EDA chose to stay with the HRA maximum that had been approved. Chairperson Elvig inquired if the EDA has projects planned. Councilmember Strommen replied there is a proposed budget included in the Committee's packet. $66,000 remains to be paid back on the Alloy Recovery property. The EDA has discusscd that the City should try to acquire properties when they go on the market in an area they arc interested in redeveloping. With land prices being what they are the funds do not go far, and they wanted to have some funds available for land acquisition. Councihnember Zimmerman indicated he had been thinking of a smaller amount, and this is a tax no matter what it is called. Chairperson Elvig indicated he is comfortable with the levy amount. He noted the levy amount last year was approximately $200,000. Motion by Councilmember Strommen, seconded by Chairperson Elvig, to recommend that the City Council adopt the resolution approving the recommendation of the EDA and approve the Proposed EDA Levy for Payable 2005 in the amount of $200,306, and to recommend that the City Council adopt the resolution approving the recommendation of the EDA and approve the Proposed HRA levy for Payable 2005 in the amount of $33,000. Motion carried. Voting Yes: Chairperson Elvig and Councilmember Strommen. Voting No: Counci hnember Zimmerman. Finance Committee/September 13, 2004 Page 3 of 8