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Infrastructure Improvements / Debt Levies <br /> <br />During the past several budget cycles there has been significant reconstruction of City streets, <br />sidewalks, storm water systems, Silver Lake Village, City buildings and park infrastructures. <br /> <br />The 2015 infrastructure projects included: <br /> <br /> 36th Avenue - Silver Lake Road to Highcrest Road (street and utility reconstruction) <br /> Chelmsford Road – 36th Avenue to 37th Avenue (street and utility reconstruction) <br /> Saint Anthony Boulevard to Ridgeway Parkway (mill and overlay) <br /> Local drainage and alley improvements <br /> <br />The 2016 planned infrastructure projects included: <br /> <br /> Stinson Boulevard from 37th Avenue to Silver Lake Lane NE. (street and utility reconstruction, <br />sidewalk, street lighting and intersection improvements) <br /> 37th Avenue from Stinson Boulevard to Highcrest Road (sidewalk and intersection <br />improvements) <br /> See Infrastructure Improvement map (Exhibit A) <br /> <br />Funding for the 2016 projects will come from improvement bonds, grants proceeds from the <br />Federal Highway Safety Improvement Program and special assessments. The improvement bonds <br />issues have a 15 year payment term. The Debt Levy is the funding source for the annual payment of <br />the bond principal and interest. The 2016 Debt Related Levies are proposed to increase by a <br />combined 1.87% increase over the 2015 combined levies. The $43,537 increase represents a 0.75% <br />increase to the Overall Levy. A debt levy reduction program (Peak to Plateau) began in 2014 to <br />stabilize the annual increase in levies created by the annual street reconstruction plan. Without the <br />use of the resources committed to this program the impact of 2015 street bonds issued along with <br />existing debt service requirements would have an added impact of 5.05% to the Overall Levy. <br /> <br /> <br />Capital Fund Levies <br /> <br />The 2016 Capital Funds Levies are proposed to increase by a combined $103,990. This increase is <br />part of the phase–in plan to recognize that liquor transfers are estimated to be $146,395 less than <br />2015. The phase-in approach uses of one time fees and fund balance. The impact of the Capital <br />Levies increase is eased by the phase–in approach used within the General Fund Levy <br /> <br /> <br /> <br /> <br /> <br /> <br />4