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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, 126`h Street and l 32"d Street. <br /> The meeting adjourned at approximately 8:30 p.m. <br /> Respectfiilly Submitted, <br /> � \"- � <br /> Michele Lindau <br /> City Clerk <br />