Item Description:
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Set the 2025 HCRRA maximum property tax levy and proposed budget; include in public meeting on 12/03/2024; schedule adoption of final 2025 budget and levy for 12/12/2024
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Resolution:
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BE IT RESOLVED, that the HCRRA Board of Commissioners sets the maximum property tax levy for 2025 at $34,000,000 with a proposed budget of $34,136,313, and that the maximum property tax levy be certified to the County Auditor; and
BE IT FURTHER RESOLVED, that pursuant to Minnesota Statutes §275.065, Subd. 3(i), the HCRRA proposed 2025 budget be included in the public meeting scheduled for 6:00 p.m. on Tuesday, December 3, 2024; in the Hennepin County Board Room to obtain public input on the 2025 budget and levy; and
BE IT FURTHER RESOLVED, that adoption of the HCRRA final 2025 budget and property tax levy be scheduled for Thursday, December 12, 2024, at the HCRRA board meeting immediately following the 1:30 p.m. Hennepin County board meeting.
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Background:
The HCRRA has the authority to levy and collect taxes in Hennepin County under Minn. Stat. 398A. Pursuant to state statute, HCRRA must approve a maximum property tax levy and a proposed budget for 2025 by September 30, 2024.
Current Request:
The proposed 2025 HCRRA budget is $34,136,313 and the maximum tax levy is $34,000,000. While the final approved budget may be higher than the one proposed, the final tax levy adopted in December cannot exceed the proposed tax levy adopted in September.
The proposed 2025 HCRRA budget supports:
• Capital projects which include the METRO Blue Line Extension (Bottineau) Light Rail Transit
• Midtown Corridor bridges
• Debt service, corridor maintenance, asset management and replacement, and administrative activities
Impact/Outcome:
This request aligns with disparity reduction efforts by investing in transit, which connects people to housing, jobs, schools, and medical facilities. These investments also advance the county’s climate action goals, including reducing greenhouse gas emissions.
recommendation
Recommendation from County Administrator: Recommend Approval