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<br /> MINUTES <br /> CITY COUNCIL <br /> SEPTEMBER 8, 2010 <br /> Assessor has indicated that commercial property values will decline by an <br /> average of 8.59% for pay 2011, residential property values will decline by <br /> an average of 5.65%. 1'he property values for townhomes and <br /> condominiums will decline significantly. The result is that there is a shift <br /> of the tax burden from commercial and multi-family residential to single- <br /> family residential properties. <br /> 'The Administrator also noted that the Council made significant reductions <br /> in the 2010 Budget earlier this year as the result of unallotments. <br /> Therefore, it will be difficult to find additional areas in the budget wherein <br /> either revenues can be increased or expenses decreased without major <br /> service impacts. He recommended the City plan for long-term revenue <br /> reductions. <br /> McGraw expressed concern about how the State will deal with its deficit <br /> and anticipated that unallotments could be significant. The Administrator <br /> reported that the preliminary 2011 Budget provides the $1.79,000 cushion <br /> and again noted the 2009 surplus that could be used to absorb <br /> unallotments. Again, these are one-time dollars. If the State allows a <br /> levy-back authority to offset unallotments, the Administrator pointed out <br /> that to levy back unallotments would result in a large levy increase. <br /> At this point in the workshop meeting, the consensus of the Council was <br /> that it would decide the levy increase amount for the preliminary 2011 <br /> Budget at the regular Council meeting immediately following this <br /> workshop. <br /> There being no further business, the workshop meeting was adjourned at <br /> 7:25 p.m. <br /> ~illram;Bles~Nlayor <br /> I <br /> Attest:/f_';~.~t'W!" / <br /> t Joel,H~anson, City Administrator <br /> 7 <br /> <br />