CC PACKET 12102019 - Laserfiche WebLink

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committed to this program the impact of 2020 street bonds issued along with existing debt service requirements would have required a 9.80 % increase in the overall Levy. The 2020 Capital Improvement Program (CIP) and the 2020 Building Improvement Levies are proposed to increase by $25,000 and $5,000 respectively. CIP and Building Improvement levy increases agree to Long term capital plan, to maintain replacement schedule. For 2020, the median taxable valuation in St. Anthony is $322,000, an increase of 10.27% over 2019. Based on the median valuation of $322,000, the “City Portion” of property taxes totals $2,064.30. A breakdown of the taxes is as follows: General Fund Budget $1,270.94 Road Improvements 506.94 Public Facilities 94.98 Capital Improvements 101.82 Tax Abatement 89.62 Total $2,064.30 To help offset the cost of operations and capital equipment, Staff seeks Grants and Donations from Federal, State and private sources. Recently accepted Grants include: • Hennepin County Recycling Grant - $15,238 • DNR Grant Silver Lake Rd flooding -$355,000 • RCWS cost share agreement Silver Lake Rd flooding-$50,000 • State of Minnesota Fire Fighters training grants - $13,333 • BWSR Grant -Silver Lake Rd flooding - $90,000 • MCES 2017-2019 I&I Grant part II - $67,135 At tonight’s Council meeting a resolution needs to be passed adopting the 2020 budgets and certifying the final tax levy to Hennepin and Ramsey Counties. Recommendation Staff recommends that Council approves resolution 19-xxx; Adopting the 2020 General Fund operating budget of $7,605,973 (based on 2020 General Fund expenditures) and certifying the final Property Tax Levy of $7,609,458 to Hennepin and Ramsey Counties 21