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The 2022 HRA Budget and Levy cost drivers is substantially personnel and professional costs <br />and inflationary impacts. Therefore, the proposed Levy increase for the HRA is 6.00% or <br />$11,850. <br /> <br />The 2022 Debt Related Levies are proposed to increase by $0 over the 2021 combined debt <br />levies. A debt levy reduction program (Peak to Plateau) began in 2014 to stabilize the annual <br />increase in levies created by the annual street reconstruction plan. Without the use of resources <br />committed to this program the impact of 2021 street bonds issued along with existing debt <br />service requirements would have required a 11.91 % increase in the overall Levy. <br /> <br />The 2022 Capital Improvement Program (CIP) and the 2022 Building Improvement Levies <br />annually proposed increases of $25,000 and $5,000 respectively were deferred for 2021 and <br />have been reinstated for 2022. An Infrastructure levy supporting Infrastructure improvements <br />was established in 2021. A 2022 levy increase of $5,000 has been proposed. <br /> <br />A Park Improvement levy supporting park improvements has been proposed for 2022. <br />Annual levy increases of $5,000 are planned in connection with repaying the interfund loan <br />which financed the resurfacing of the City Hall tennis courts. The repayment term is 15 years <br />with the Park Improvement levy reaching $50,000 by 2031. The scheduled Levy and Interfund <br />loan activity will produce additional funds for future park improvements. <br /> <br /> <br />Upcoming Budget meetings <br /> <br /> <br />At the October 12, 2021 Council work session, Staff will present the proposed 2022 updates to <br />the long-term capital budget plans. <br /> <br />At the October 26, 2021 City Council meeting, Staff will present the 2022 long term capital <br />budgets as revised. Requested City Council action will be for the approval of 2022 long-term <br />plans. <br /> <br />The final presentation of the 2022 Budget and Property Tax Levy (Truth in Taxation) hearing is <br />scheduled for the December 14, 2021 Council Meeting. At the meeting, Staff will present a <br />recap of the final 2022 Budget and the 2022 Property Tax Levy’s impact on property tax bills. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />17