Minutes - 2004/07/12 - Laserfiche WebLink

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