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<br />WS – Item 11 <br />WORK SESSION STAFF REPORT <br />Work Session Item No. 11 <br /> <br /> <br />Date: September 8, 2020 <br /> <br />To: City Council <br /> <br />From: Sarah Cotton, City Administrator <br /> <br />Re: 2021 Budget Update <br /> <br /> <br />Background <br /> <br />Following the Wednesday, August 19th Special Budget Work Session staff prepared an <br />update to the Gap Analysis highlighting a Gap to Maintain a Flat Tax Capacity Rate of <br />$84,403. Modifications/amendments to the proposed budget to reduce the Gap to this <br />level were as follows: <br /> <br />CARES Act Eligible Items $140,806 <br />Gator Tail Boat $39,000 <br />Balance Air Handling Units $24,000 <br />PT Recreation Coordinator/Summer Playground Program $59,147 <br />Pavement Management (Fund at 7.5% Increase over 2020) $16,538 <br />Temporary Suspension of Contribution to Park & Trail Fund $90,000 <br />General Maintenance Worker/Uniform $78,585 <br />Asphalt Saw (Minor Trail Repairs) $4,500 <br />Police Division Personnel Request Modifications $198,347 <br />PT Communications Coordinator $20,405 <br /> <br />Uncommit $75,000 of General Fund Reserves, Transfer to Park & Trail Improvement <br />Fund and Fund 2021 Park Budget Requests: <br /> <br />Wenzel Farms Boardwalk Replacement $7,000 <br />Engineering for Park & Trails Projects $5,000 <br />Additional Trail Repairs/Replacement, Sunrise Park Rink Lights Replacement, Removal <br />of Marshan Boardwalk $54,000 <br /> <br />On Monday, August 31st, staff received updated Pay 2021 Taxable Market Value, Tax <br />Capacity, Fiscal Disparities, and Tax Increment estimates from Anoka County. The <br />updated information is favorable and provided an additional $644,270 of Net Tax <br />Capacity Value or $146,905 at the Tax Capacity Rate of 39.870%. Furthermore, the <br />increase has eliminated the Gap to Maintain a Flat Tax Capacity Rate and provides an <br />additional $62,502 of funding. <br />