DEPARTMENT: Transportation
FILE TYPE: Regular Action
TITLE
title
Certification Of 2025 Dakota County Regional Railroad Authority Maximum Proposed Property Tax Levy
end
PURPOSE/ACTION REQUESTED
Certify the 2025 Maximum Proposed Property Tax Levy for the Dakota County Regional Railroad Authority (Authority).
SUMMARY
In 1987, the Authority was formed under Minn. Stat. ? 398A, which grants broad powers to the Authority to plan, acquire, construct, and operate transitways and railroads. Within these powers, the Authority has previously invested in the Cedar Avenue METRO Red Line, the METRO Orange Line Phase I, pedestrian, and bicycle connections to transitways, and improvements to highway and greenway railroad crossings.
The adopted 2024 Authority budget retained a levy of $0. The proposed Draft 2025-2029 Authority Capital Improvement Program (CIP) budget can be fully funded with remaining Authority Fund Balance (Attachment: Levy Scenario). Future Authority capital project and operating costs will be funded by the Transportation Sales and Use Tax or Transportation Advancement Account revenues when eligible. Sufficient Authority Fund Balance is projected to be maintained to fund any non-eligible capital and operating expenses through 2029 and beyond.
With this approach, the maximum 2025 Authority levy is proposed to be $0.
RECOMMENDATION
recommendation
Staff recommends certification of a 2025 Maximum Proposed Property Tax Levy of $0, which remains unchanged from the Authority's 2024 property tax levy.
end
EXPLANATION OF FISCAL/FTE IMPACTS
? None ? Current budget ? Other
? Amendment Requested ? New FTE(s) requested
RESOLUTION
body
WHEREAS, the Dakota County Regional Railroad Authority (Authority) must certify a maximum proposed property tax levy for 2025 by September 30, 2024; and
WHEREAS, the Authority will maintain continued involvement and participation in eligible initiatives related t...
Click here for full text