09-14-1998 Council Packet - Laserfiche WebLink

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Request for Council Action continued Page 6 September 10, 1998 Proposed 1999 Budget and Tax Levy - Resolutions Funding for Storm Drainage Infrastructure There are currently a substantial number of stormwater drainage problem areas in the City. Although some of these can be solved with projects costing in the range of $20-30,000, several of these could require projects with costs approaching $100,000. In addition, there are a number of areas in the City in which a large volume of "untreated" stormwater flows directly into Lake Minnetonka. The Surface Water Management Plan being completed by Bonestroo and Associates will identify a set of stormwater improvement projects that will address many of these problem areas in addition to addressing other stormwater drainage needs. The storm drainage infrastructure will require a large amount of funding from a number of different sources over the next 10 to 20 years. As a significant step in providing funding for storm drainage infrastructure, the City initiated in the 1996 budget, a levy amount of $40,000 per year for storm drainage infrastructure. This levy amount is increased to $45,000 in the 1999 budget. Long-Term Funding for Parks and Open Space Based on recommendations from the City's Parks, Open Space and Trails Commission, the City Council has adopted a policy of more aggressive efforts to preserve and acquire open space, and to provide parks facilities to meet identified needs. In recent years, the City ’s main source of funding for parks capital needs has been park dedication fees charged at the time properties are subdivided. The 1999 budget initiates a tax levy of $5,000 as the first step toward providing a significant additional source of funding. It is planned that the $5,000 amount will be increased each year until an adequate funding level is reached. Budget and Tax Lew Adoption The City is required to adopt a budget and tax levy so that the levy can be certified to the County by September 15, and so that a summary of the budget can be published along with the notice of the Truth in Taxation Hearing in November. After adoption, the proposed tax levy cannot be increased, but can be reduced prior to final budget adoption after the Truth-in-Taxation hearing in December! The proposed budget can also be changed prior to final adoption in December. Resolutions adopting the preliminary 1999 budget and proposed tax levy are attached for Council adoption. COUNCIL ACTION REQUESTED: 1. Motion to adopt a resolution approving the proposed Tax Levy to fund the 1999 Budget. 2. Motion to adopt a resolution approving the proposed 1999 Budget. ADOPT CA