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The amendment does remove the "lesser of" language as it related to inflation. This results in a <br />council majority having the ability to levy up to 6.5%, regardless of inflation, and with a 4/5t" majority <br />up to 9%, or inflation plus 2.5% if that is higher. <br />As detailed prior, new construction and decertified TIF districts' value and subsequent tax impacts will <br />allow budget expenditures that, while increasing expenses, will not increase the tax rate/impact as <br />those properties, which require additional services (being new) will provide the revenue to fund the <br />additional services needed. <br />Action Requested: <br />By Unanimous Roll Call Vote (statutorily required), Approve/Adopt Ordinance 987 to amend <br />Section 7.03 of the City Charter, if Council wishes to have the ability to increase the levy when, in <br />their elected capacity to represent, compels them to do so and to capture value added by the <br />decertification of TIF districts. <br />Respectfully submitted, <br />Nyle Zikmund <br />City Administrator <br />Attachments: <br />Mounds View Charter Commission Resolution 2021.04 Amending Chapter 7:03 of Charter by <br />Ordinance <br />Public Hearing Notice <br />Proof of Public Hearing Notice Publication <br />Finance Department Presentation (April 2021 Commission Meeting) <br />Levy History previous 20 Years <br />Levy History previous 25 years <br />Minnesota Statutes, section 410.12 <br />