EDA approves preliminary HRA levy for 2026 and schedules public hearing for December

The Cottage Grove Economic Development Authority on June 17 approved a preliminary HRA levy of $142,500 for fiscal year 2026 and scheduled a public hearing for 6 p.m. Dec. 2, 2025, to consider final levy adoption.

Administrator Levitt (finance/administration staff) told the EDA the HRA levy supports economic development, redevelopment and affordable‑housing activities. The staff presentation said the EDA’s levy for 2025 was $137,500 and that the recommended FY2026 preliminary levy is $142,500 — a roughly 3.5% increase — toward a multiyear financial management plan. Levitt noted the statutory maximum levy authority for the EDA/HRA is substantially higher; staff said the levy calculation is constrained by a statutory rate (0.0185% of market value used in the calculation) and that staff will present the levy to the city council for final action in July.

EDA Vice President Will Olson moved to approve the preliminary levy resolution (listed in the packet as Resolution 2025‑001); EDA member Jean Baptiste seconded. The motion passed on a recorded voice vote and the board then voted to call the Dec. 2 public hearing.

Why it matters: staff linked the levy to priorities shown in the community survey and noted the levy funds HRA activities such as deeply affordable housing projects and redevelopment assistance. Administrator Levitt said survey results earlier in the meeting show residents placed a high priority on economic development and affordable housing, which helped justify the levy increase. The EDA will present the preliminary levy to the city council as part of the regular budget and levy process.