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September 13,2011 Page 3 of 6 <br /> Final Payment for <br /> Project 11-2A, <br /> 10. Consideration of Final Payment for Project 11-10, Well House 3 & 4 Retaining <br /> 011 <br /> Seal Coating. Report <br /> Wall and Landscaping Improvements. Report No. 11-249. No. 11-248. <br /> 11. Consideration of Accepting Quotes for City Project 11-15, Sunny Square Park <br /> and 1759 Long Lake Road Storm Sewer Reconstruction. Report No. 11-250. 10. Consideration of <br /> Final Payment for <br /> 12. Consideration of Change Order 1 for Project 11-3, 2011 Pavement Management Project318,1-10,well <br /> gg House 4 Retaining <br /> Program and Project 11-8,New Brighton Community Center Parking Lot. wall and Landscaping <br /> Report No. 11-251. Improvements.Report <br /> No. 11-249. <br /> 11.Consideration of <br /> Accepting Quotes for <br /> Motion by Councilmember Bauman,seconded by Councilmember Samuelson to approve the City Project 11-15, <br /> Sunny Square Park and <br /> Consent Agenda as presented. 1759 Long Lake Road <br /> Storm Sewer <br /> Reconstruction.Report <br /> No. 11-250. <br /> 5 Ayes,0 Nays-Motion Carried <br /> 12. Consideration of <br /> Change Order 1 for <br /> Public Hearing Project 11-3,2011 and <br /> Project 11-8, Report <br /> None No. 11-251 <br /> Council Business <br /> Council Business <br /> 1.. Consider approval of Resolution Adopting the Proposed Tax Levy for Taxes 1. Approval of Silver <br /> Payable in 2012 and Setting the Meeting Dates for the 2012 Budget Lake Flats Multiple <br /> Discussion with Public Comment and Final Determination of Tax Levies. Dwelling Provisional <br /> License and Mitigation <br /> Report No. 11-252. Resolution No. 11-084. Plan-Main Street. <br /> Report No. 11-236. <br /> Resolution No. 11-084. <br /> Finance Director Dan Maiers reported that the Proposed 2012 Operating Fund Budget is$12,251,100. It <br /> was reported that there are no new services or personnel included in the 2012 proposed budget. The budget <br /> increased 0.54%from 2011. The State recently made changes to its property tax law,having a significant <br /> impact on the way each property in the City is taxed. The State eliminated their Market Value Homestead <br /> Credit program and added a Market Value Exclusion program. <br /> Director Maiers explained the loss of the Market Value Homestead Credit, noting the impact <br /> is similar to a tax increase of$280,400. However, the City's tax levy was unchanged. The <br /> City took no action resulting in this increase; it was due solely to the State Legislature's <br /> decisions. The Market Value Exclusion was explained, noting the reduction of values <br /> pushes the City's tax rate higher without an increase to the levy. <br /> Director Maiers reviewed various scenarios of estimated impacts from these tax law changes <br /> for explanation purposes. <br /> At the Council's September 6, 2011 worksession, the City Council directed the City <br /> Manager's Recommended 2012 tax levy to be decreased from $7,395,708 to $7,287,308, a <br /> decrease of$108,400. <br /> Specifically, the 2012 Proposed Budget for the General Fund was changed as follows: <br /> 1) Revenue from property taxes decreased by $280,400 and <br /> 2) Transfers out to the Capital Replacement Funds decreased by $280,400. <br /> The proposed 2012 Budget includes a proposed general operating tax levy of$7,115,308 and <br />