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Mounds View City Council July 12, 2004 <br />Regular Meeting Page 5 <br /> <br />Council Member Marty asked if the reduction in class rates for apartments and similar properties 1 <br />that was approved in the 2001 tax bill included condos and townhomes. 2 <br /> 3 <br />Mr. Neilson stated he would have to follow up on that as he wasn’t sure what they were 4 <br />including. 5 <br /> 6 <br />Council Member Marty stated Scotland Green is one of the largest apartment buildings, but they 7 <br />have condominium or townhome association classification, and he was wondering how this 8 <br />impacts along with the reduction in apartment taxes. 9 <br /> 10 <br />Mr. Neilson stated he would have to check into that, and he would pass that information along to 11 <br />Finance Director Hansen. 12 <br /> 13 <br />Council Member Stigney had a question on the table on page 4, where it says, “Property tax, City 14 <br />of Mounds View, $208,” whether that reflected all of those that live in TIF Districts. 15 <br /> 16 <br />Mr. Neilson stated it doesn’t separate by location of where an individual lives; it’s simply by 17 <br />revenues generated in total. 18 <br /> 19 <br />City Clerk/Administrator Ulrich stated properties in TIF Districts continue to pay taxes the same 20 <br />as any other household does. 21 <br /> 22 <br />Council Member Marty stated the money from residents in TIF Districts is still coming back to 23 <br />the City, but there are limitations as to where it can be spent, and it is not put into the General 24 <br />Fund. 25 <br /> 26 <br />Council Member Stigney said they could discuss the issue at their next work session. 27 <br /> 28 <br />Mayor Linke wanted to bring the following quote to the public’s attention: “The amount of 29 <br />required equity increases as the size of the operation increases. Increase in the size of the 30 <br />operation is natural, caused by such things as inflation, population growth, desired increases in 31 <br />services, and mandated increases in services and administrative requirements by the state of 32 <br />Minnesota or by the federal government.” He stated they are mandating things for them to do 33 <br />without giving the City funds with which to do it. 34 <br /> 35 <br />Council Member Marty asked whether all deposits by the City were now being insured, and 36 <br />Finance Director Hansen replied that they were. 37 <br /> 38 <br />MOTION/SECOND. Marty/Stigney. To waive the reading and approve Resolution 6305, 39 <br />Accepting the Annual Financial Report for the Year Ending December 31, 2003. 40 <br /> 41 <br /> Ayes-4 Nays-0 Motion carried. 42 <br /> 43