09-10-2018 Council Meeting Packet

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CITY COUNCIL WORK SESSION August 27, 2018 DRAFT 2 Council Member Stoesz recommends letting the public know that is the land is city and 40 plans are coming. Also it will be important for people to understand financing. 41 42 Mayor Reinert said he’d like to see $300,000 set aside (reserve) at this time. Moving 43 ahead, additional financing will become clear. 44 45 Mayor Reinert said he’d also like to designate $50,000 of the reserve for a war memorial 46 project. He would like to see that those funds are not utilized until they are privately 47 matched. Council Member Maher is supportive. 48 49 The remaining reserve amount was identified at $400,000. If that amount were applied 50 overall, the tax rate would be 41.724 (3.70% annual increase). Ms. Cotton noted that the 51 council may also want to consider that debt levy that will be coming on line. 52 53 Mayor Reinert asked if any projects will come off the books next year that will contribute 54 to the Closed Bond Fund. Director Cotton noted that the City Hall Complex has been 55 fully paid; there will be excess of about $500,000. 56 57 Mayor Reinert suggested one more meeting to do a final review. He asked that council 58 members do their final drill down on the proposed budget so that discussion be 59 concluded. The council will plan on having that final discussion at the regular 60 September work session unless that runs late in which case they will set another day. 61 62 Council Member Stoesz asked that the preliminary budget be placed on the city website 63 in a spot that is easy for public access. 64 65 The council will review information presented for future discussion. 66 67 The meeting was adjourned at 7:50 p.m. 68 69 These minutes were considered, corrected and approved at the regular Council meeting 70 held on August 27, 2018. 71 72 73 74 75 Julianne Bartell, City Clerk Jeff Reinert, Mayor 76 77