Speaker numbers apply only to this recording.
The Shakopee Economic Development Authority (EDA) met on October 2, 2026, at City Hall, 485 Gorman Street, to consider the 2027 EDA tax levy and budget, adopt related resolutions, approve consent items, and receive the EDA bill list. All votes were unanimous. Note: The agenda and transcript are dated September 1, 2026, and reference a September 15, 2026 city council step, while the meeting timestamp provided for this summary is October 2, 2026; the latter date is used in the title and summary.
Note: The transcript alternately renders one commissioner's name as both Laura and Lara; the names above are retained as transcribed.
Recess like to call to order the September 1st meeting of the Shakapi Economic Development Authority. Please make note of the role. Item number two on our agenda is approving that agenda. So I'm looking for Commissioner Contreras. Yes, sir. I'll make a motion to approve the agenda. Motion on the floor second. Motion seconded by Laura. All those in favor say aye. Aye. All right. We have an agenda. One item on the consent business. Item three is three A approval of the EDA minutes. Is there questions on the minutes? Commissioner Lehman. Mr. President, I'll move the consent business. Motion on the floor by Commissioner Lehman. Is there a second? Second. Second by Commissioner Contreras. All those in favor say aye. Aye. Any opposed? All right. Moving on to general business, the 2027 EDA levy and budget. And that is Mr. Reinhardt. Sure. Good evening, President and Board members. Tonight we're asking for the EDA consideration of the proposed 2027 EDA tax levy. If approved tonight, uh the levy and budget would be brought forward to city council approval on September 15th. The EDA levy is subject to a percentage limit of city's estimated market value. The EDA levy cap for 2027 is one almost 1.6 million. So the levy being proposed tonight is well within this CAP. The EDA levy differs slightly from the general fund levy in that it gets applied to all taxable properties within the city. And the CDA continues to uh manage the senior apartments on the second level. We'll report those as a separate separate subfund of the EDA, and I'll touch base on that in this presentation as well. I have one slide on revenues and then one slide on expenditures. Uh staff is proposing an EDA levy of 550,000, uh which is no change from last year. Uh additional funding is provided through a contribution of half a percent of revenues from the Shockabee Public Utilities Commission. Uh we anticipate that contribution to be 341,000 for next year, uh 20,000 for social district licenses and cup sales, and then 20,000 for admissions related to the TAP event. Uh for the medium value home, it equals out to about $20 a year, uh, which is the exact same amount that was paid in 2026. Um moving on to operating expenses, uh operating expenses would cover uh wages and benefits, which would include the economic development coordinator, and then 50% of the planning and development director.