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Agenda Packets - 2025/05/12
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Agenda Packets - 2025/05/12
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5/12/2025 2:16:41 PM
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5/12/2025 2:14:09 PM
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MV Commission Documents
Commission Name
City Council
Commission Doc Type
Agenda Packets
MEETINGDATE
5/12/2025
Description
Work Session
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2 <br /> <br />Increase EDA Levy: <br />Spur Redevelopment to <br />increase tax valuation, <br />add jobs & housing <br />diversity, consider <br />increasing to $300,000 <br />$150,000 or more as <br />well as HRA levy <br />$100,000 $100,000 $150,000 $300,000 <br />EDA Max levy $246,494 <br />HRA Max levy $251,484 <br />Operate under <br />Continue balanced <br />budget that meets the <br />needs and goals of the <br />community. Reduce <br />reliance upon the levy <br />reduction fund and any <br />LGA funds by 3-5% <br /> <br />Budget 90% of LGA <br />Draw down levy <br />reduction by $250,000 <br />Budget 90% of LGA <br />Draw down levy <br />reduction by $238,000, <br />2022 <br />Reduce by 5-8% <br />($4000-$6400) <br />per/year over 3 years, <br />will take 10 years to <br />get to $120,000 <br />Deficit Fund: (Delete <br />entire Row) <br /> <br /> $120,000 <br />Develop <br />Communications Plan <br />(Delete entire Row) <br /> <br /> <br />Community Center: <br />Move forward with <br />expansion if CSL study <br />finds it economically <br />feasible. Potential <br />funding resources are: <br />Pursue State Bonding <br />money, Consider <br />utilizing some <br />percentage of the levy <br />reduction fund to <br />reduce potential City <br />initiated bonding <br />impact on property <br />taxes. Explore other <br />sourcing options. <br />Address Infrastructure <br />needs such as: locker <br />rooms, etc… <br /> <br /> <br /> <br />
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