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The net result is that EDAs generally have similar powers to HRAs, except that the purposes extend <br /> beyond housing and redevelopment to include the broader goals of economic development. <br /> A final point involves tax levies. EDAs have access to two types of tax levies. First, an EDA may <br /> use its HRA powers and levy the HRA tax described above (subject to Council approval). In cities <br /> that have both an EDA and an HRA,the maximum levy(.0185%of market value)probably applies <br /> collectively to the two bodies. That is, if both an EDA and HRA wish to levy a special benefit tax, <br /> they probably need to allocate the statutory limit between them. <br /> Secondly EDA Act authorizes a tax levy for EDAs as described in Section 469.107. If the EDA <br /> requests, a City may (but is not required to) levy a tax "for the benefit of the authority." The <br /> maximum amount is.01813% of the City's taxable market value. Unlike the HRA levy described <br /> above,this is not a separate levy made by the EDA; it is made by the City and is included within the <br /> City's levy limits. As a result this so-called `EDA levy" is not a significant benefit except in <br /> unusual circumstances. <br /> SJs-222120v1 <br /> SA285-04 <br />