2027 EDA Levy and Budget
Summary
The EDA budget funds staff, facade loans, small business programming, and the TAP event, plus a separate River City Centre sub-fund for the building's tenants and senior apartments. The building had little cash left after the master lease purchase, but lease revenue is expected to rebuild it.
At a glance
- Total mentions
- 3
- Last 30 days
- 0
Last discussed Sep 1, 2026.
Impact analysis
Funded mostly by the $550,000 levy and a $341,000 contribution from Shakopee Public Utilities.
Downtown businesses, entrepreneurs, and tenants at River City Centre.
Homeowners — 62% saw assessed values rise up to 5% — face higher tax bills even with a comparatively modest rate.
Mentions & discussions (3)
City Council - Sep 1, 2026
The EDA board set a flat $550,000 levy for 2027, meaning the typical homeowner still pays about $20 a year for economic development. It goes to the city council for final approval on September 15.
Economic Development Authority - Sep 1, 2026
The EDA budget funds staff, facade loans, small business programming, and the TAP event, plus a separate River City Centre sub-fund for the building's tenants and senior apartments. The building had little cash left after the master lease purchase, but lease revenue is expected to rebuild it.
City Council - Aug 18, 2026
The city's first look at 2027 numbers shows the levy jumping 8.65% — about $101 more on the median-value home — driven mostly by going to 24/7 fire staffing and debt service on street projects. The council can still lower it but not raise it before adopting the maximum levy September 15.
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