01-14-2019 Council Packet - Laserfiche WebLink

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COUNCIL MINUTES December 10, 2018 DRAFT 45 46 Consider Resolution No. 18-163, Establishing Polling 47 Places, 2019 Election Approved 48 49 Consider Resolution No. 18-172, Approving Transfers for Approved 50 Final Installment Payment on Interfund Loan for Recreation 51 Complex Land 52 53 Consider approval of December 3, 2018 Work Session Approved 54 Minutes (closed session — Agenda Item #1 only) 55 56 Consider approval of December 3, 2018 Work Session 57 Minutes Approved 58 59 FINANCE DEPARTMENT REPORT 60 61 2A) Public Hearing — Consenting to and Granting Host Approval to the Issuance of a Revenue 62 Note by the City of Falcon Heights: i) Consider Resolution No. 18-173, Giving Host Approval to 63 the Issuance of Senior Housing and Health Care Revenue Notes (Heritage Apartments Project), 64 Series 2018 — Finance Director Cotton reviewed her written report. There is a proposal by Heritage 65 Apartments, Inc (Lyngblomsten) to develop a senior living campus in the City. To finance the proposal, 66 the developer is proposing the issuance of revenue bonds through the City of Falcon Heights, the sight 67 of another Heritage Apartments project. The City is required to give host approval in order for the City 68 of Falcon Heights to issue bonds for the development. A public hearing is required as well. 69 Mayor Reinert opened the public hearing. There being no one present wishing to speak, the public 70 hearing was closed. 71 Council Member Manthey moved to approve Resolution No. 18-173 as presented. Council Member 72 Stoesz seconded the motion. Motion carried on a voice vote. 73 2B) Public Hearing — 2018/19 Property Tax Levy and 2019 Budget: i) Consider Resolution 74 No. 18-174, Adopting the Final 2018 Tax Levy, Collectible in 2019; ii) Consider Resolution No. 75 18-175, Adopting the Final 2019 General Fund Operating Budget; iii) Consider Resolution No. 76 18-176, Adopting the 2019 Water and Sewer Operating Budgets; iv) Consider Resolution No. 77 18-177, Adopting the 2019 Recreation Fund Budget — Finance Director Cotton reviewed a 78 PowerPoint presentation including information on: 79 Proposed tax levy (including general, special, voter approved); the levy amount is less than the 80 preliminary levy that was approved in September; 81 - Change in City Levy — comparison of levy over the past five years; 82 - Change in Tax Rates — comparison of rate over the past five years (does not include voter 83 approved referendum increases); 84 - 2019 Property Tax Distribution; 85 - Compution of Property Taxes — Comparison between payable 2018 and 2019; 2