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Department Approval <br />�. �: � <br />Item Description: <br />�� <br />.r- <br />REQUEST FOR COUNCIL ACTION <br />Adopt the 2016 Final HRA Tax Levy <br />Date: 12/07/15 <br />Item No.: 13.b <br />City Manager Approval <br />BACKGROUND <br />State Statute requires all municipalities that have levy authority over other governmental agencies to <br />adopt a final tax levy for that agency by December 30th for the upcoming fiscal year. The Roseville <br />� HRA, while a separate legal entity, does not have direct levy authority. The City Council must adopt a <br />levy using its authority along with a designation that the funds go to the HRA. <br />� On September 14th, the City Council chose not to enact a preliminary 2016 tax levy for the HRA. <br />However, the Council still needs to take a formal action for a zero levy to ensure that a levy is not <br />enacted or otherwise triggered by any statutory requirements or safeguards. <br />�� By adopting a zero levy, a median-valued home will realize a$36 annual reduction in property taxes or <br />�� $3 per month. This action will more than negate the increase stemming from the City's tax levy. <br />POLICY OBJECTIVE <br />Adopting a final HRA <br />� following year. <br />FINANCIAL IMPACTS <br />See above. <br />tax levy is required under State Statutes in order to make it effective the <br />STAFF RECOMMENDATION <br />Staff Recommends the Council adopt the attached resolution setting the 2016 Final HRA Tax Levy. <br />� REQUESTED CO[JNCIL ACTION <br />Motion to adopt the attached resolution establishing the 2016 Final HRA Tax Levy. <br />Prepared by: Chris Miller, Finance Director <br />Attachments: A: Resolution to adopt the 20] 6 Final HRA Tax Levy <br />Page 1 of 2 <br />