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The 2022 HRA Budget and Levy cost drivers is substantially personnel and professional costs and inflationary impacts. Therefore, the proposed Levy increase for the HRA is 6.00% or $11,850. The 2022 Debt Related Levies are proposed to increase by $0 over the 2021 combined debt levies. A debt levy reduction program (Peak to Plateau) began in 2014 to stabilize the annual increase in levies created by the annual street reconstruction plan. Without the use of resources committed to this program the impact of 2021 street bonds issued along with existing debt service requirements would have required a 11.91 % increase in the overall Levy. The 2022 Capital Improvement Program (CIP) and the 2022 Building Improvement Levies annually proposed increases of $25,000 and $5,000 respectively were deferred for 2021 and have been reinstated for 2022. An Infrastructure levy supporting Infrastructure improvements was established in 2021. A 2022 levy increase of $5,000 has been proposed. A Park Improvement levy supporting park improvements has been proposed for 2022. Annual levy increases of $5,000 are planned in connection with repaying the interfund loan which financed the resurfacing of the City Hall tennis courts. The repayment term is 15 years with the Park Improvement levy reaching $50,000 by 2031. The scheduled Levy and Interfund loan activity will produce additional funds for future park improvements. For 2022, the median taxable valuation for a single-family home in Saint Anthony is $366,000, an increase of 7.65% over 2021. Based on the median valuation of $366,000, the “City Portion” of 2021 property taxes is $2,341.39. A breakdown of the taxes is as follows: General Fund Budget $1,480.64 Road Improvements 578.77 Public Facilities 79.47 Capital Improvements 135.87 Tax Abatement 66.64 Total $2,341.39 In 2021 the median taxable valuation for a single-family home in Saint Anthony was $338,000 with City taxes of $2,118.59 Therefore, the increase in “City taxes” for a median value home will be $222.80 in 2022 or 10.52% increase. The overall taxes on a median value single-family home will be $6,042.44 in 2022 compared to $5,556.59 in 2021. The 2022 overall increase of $426.53 reflects increases in County, City and School taxes. At tonight’s Council meeting a resolution needs to be passed adopting the 2022 budgets and certifying the final tax levy to Hennepin and Ramsey Counties. Recommendation Staff recommends that Council approves resolution 21-094; Adopting the 2022 General Fund operating budget of $8,013,767 (based on 2022 General Fund expenditures) and certifying the final Property Tax Levy of $8,243,092 to Hennepin and Ramsey Counties 87