Council approves EDA special benefit levy of $555,000 and preliminary EDA budget

The City Council voted to approve the Monticello Economic Development Authority's special benefit levy (HRA) for 2027 and to accept the EDA's preliminary general fund budget.

City staff explained the levy mechanics and the EDA's proposed numbers: "The 2027 HRA tax levy is proposed to be 555,000, which is a 10.1 increase," Sarah said, and she outlined sample property impacts — for a median $325,000 home the HRA line would be roughly $2 (about a 5.2% change on that line), while a $3,000,000 commercial property would see an increase of about $125 (about 16.7% on that line). Sarah said the EDA budget of $641,000 supports downtown redevelopment, marketing, facade programs and administration.

Council discussed facade programs and the history of downtown facade support; Charlotte moved and Lee seconded the resolution approving the levy and accepting the preliminary budget, and council approved the action by voice vote.

Staff said the levy increase compares payable 2027 to payable 2026 and is not the total property-tax change residents will see because county and school taxes are separate.