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City Council Minutes for June 27, 2016 CIP Workshop <br />Page 2 of 2 <br />Mayor Weidt asked if the long-standing policy of maintaining a flat tax rate is becoming <br />obsolete. Otkin explained that it is most likely that our tax rate would need to increase if <br />property values were to collapse like they did during the great recession. The Council talked <br />about how the City is unique in maintaining the tax rate, and how the budget would be affected <br />with another recession. They discuss whether a slight increase in tax rate would be appropriate <br />and if the flat tax rate was important in attracting new businesses. <br />Following additional discussion, it was the Council's consensus to place the highest prioritized <br />road project for consideration at a future regular meeting. The streets affected by this project <br />include portions of Homestead Avenue, Homestead Drive, 126th Street and 132nd Street. <br />The meeting adjourned at approximately 8:30 p <br />Respectfully Submitted, <br />Michele Lindau <br />City Clerk <br />