02/23/2009 Council Packet - Laserfiche WebLink

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As the state tries to deal with its deficit, it continues to cut assistance to cities. $120,000 that Lino Lakes expected to receive in Market Value Homestead Credits this past December was cut. Even with tightening in every department, a 1.58 percent increase in the budget was required for 2009. It's fortunate that the city council completed a 5 -year financial plan in 2008 which was based on a conservative estimate of future new construction. This tool will help us to better anticipate the future when we put together our annual budgets. It's always reassuring to see decisions that were made in the past pay off as expected in the future. The city's investment in the Town Center, through the contract with Target and Kohl's, has ended, adding nearly $27 million to the city's market value tax base. Each year the City Council sets goals, and periodically reviews them to see how we're doing. We're continuing to monitor the status of the Town Center development to determine what strategies will best work in the current economic climate, and how best to move forward to complete the downtown area. Among the council's biggest goals and accomplishments this year were planning and implementing regional transportation improvements. The completion of the 35W bridge over Lake Drive, and the reconstruction of Main Street — through the regional park and Centerville to the 35E bridge —were essential investments so that Lino Lakes can continue to mature as a city. The next critical section is the reconstruction of the 35E bridge at Main Street. Funding for this project in these tough economic times is a challenge, but we thank our partners at Anoka County and the Minnesota Department of Transportation for helping us explore funding opportunities. Because of concerns by residents and businesses about traffic and safety on Birch Street, a Corridor Study is now underway to develop a future roadway concept. This will allow the city and county to pursue planning activities, such as right -of -way preservation, access management, and official mapping of the corridor. There are many opportunities for citizens 2