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<br /> * 2017 General Fund Budget for Expenditures is $7,091,990 <br /> <br /> **2017 General Fund Budget for Revenues is $7,106,990 <br /> <br />The HRA Budget and Levy contains cost drivers similar to the general fund. Conversely this fund does <br />not have the same resources and transfers available in order to offset cost drivers. Therefore the <br />proposed Levy increase for the HRA is 12.58% or $17,630, substantially the maximum levy allowed. <br />This levied amount will allow the Fund to reduce its negative cash position. <br /> <br />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 2016 infrastructure projects included: <br /> <br />• Stinson Boulevard from 37th Avenue to Silver Lake Lane NE <br />• Local flood control / drainage, street lighting, railroad crossing, water and sanitary sewer <br />improvements <br />• Salo Park and Stinson Boulevard sidewalk improvements <br /> <br />The 2017 planned infrastructure projects included: <br /> <br />• Penrod Lane from 36th Avenue NE to Skycroft Drive <br />• Skycroft Drive from Penrod Lane to Maplewood Drive <br />• Maplewood Drive from Skycroft Drive to Highcrest Road <br />• Chelmsford Road from 36th Avenue NE to Maplewood Drive <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 2017 projects will come from bonds, grants proceeds from the Federal Highway Safety <br />Improvement Program and special assessments. The bonds issues have 10 and 15 year payment terms. <br />The Debt Levy is the funding source for the annual payment of the bond principal and interest. The <br />2017 Debt Related Levies are proposed to increase by a combined 1.77% increase over the 2016 <br />combined levies. The $42,010 increase represents a 0.69% increase to the Overall Levy. A debt levy <br />reduction program (Peak to Plateau) began in 2014 to stabilize the annual increase in levies created by <br />the annual street reconstruction plan. Without the use of the resources committed to this program <br />the impact of 2016 bonds issued along with existing debt service requirements would have an added <br />impact of 6.13% to the Overall Levy. <br /> <br /> <br /> <br /> <br />4