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Council Meeting Minutes for September 16, 2024 <br />Page 3 of 5 <br /> <br />future infrastructure projects. The total proposed 2025 property tax levy of $12,847,855 would <br />move the urban tax rate to 39.190% of tax capacity. Staff believed this levy was sufficient to <br />fund the operating and capital budgets in 2025 and meets the objectives of the City Council to <br />begin funding future infrastructure projects. Adoption of the Consent Agenda approved <br />RESOLUTION 2024-39 APPROVING PRELIMINARY TAX LEVY PAYABLE IN 2025. <br /> <br />Approve Pay Request No. 4 Dresel Contracting for 125th Street and Dellwood Ridge Streets <br />Improvement Project <br /> <br />Dresel Contracting, Inc. had submitted Pay Request No. 4 in the amount of $219,282.52 for work <br />certified through August 30, 2024, on the 2024 125th Street/Dellwood Ridge Neighborhood <br />Improvement Project. The first layer of asphalt had been placed along Heather and Upper <br />Heather Avenues and restoration work had begun. Adoption of the Consent Agenda approved the <br />payment to Dresel Contracting, Inc. in the amount of $219,282.52. <br /> <br />Approve Resolution Creating a New Special Revenue Fund <br /> <br />The City of Hugo had received miscellaneous revenues from the State of Minnesota in the form <br />of Public Safety Aid and Local Affordable Housing Aid. These funds needed to be accounted <br />for separately from other already established funds for tracking and reporting purposes. <br />Generally Accepted Accounting Principles (GAAP) and the Governmental Accounting <br />Standards Board’s (GASB) Statement Number 54 provided special revenue funds to account for <br />and report the proceeds of specific revenue sources that were restricted for specified purposes. <br />The new special revenue fund would be used to track and report on miscellaneous revenues <br />received from the State of Minnesota that need to be accounted for separately. Adoption of the <br />Consent Agenda approved RESOLUTION 2024 – 40 CREATING A NEW SPECIAL <br />REVENUE FUND TO ACCOUNT FOR MISCELLANEOUS REVENUES RECEIVED FROM <br />THE STATE OF MINNESOTA <br /> <br />Approve Preparation of Feasibility Study for 2025 Road Projects <br /> <br />At the Midyear Budget Workshop, staff was directed to hold a workshop to discuss the street <br />CIP and funding. This meeting has been scheduled for Monday, October 28, 2024. City <br />Engineer Mark Erichson suggested Council be ready to take the next step to prepare for the 2025 <br />projects. The proposed 2025 Capital Improvement Project included roads in the Beaver Ponds <br />Development and streets in Duck Pass, Palmes Long Lake Estates, and the Ingersoll Avenue <br />neighborhood. Erichson explained the process would benefit from having them handled <br />separately but the projects should be done at the same time for better bid results. He said if the <br />Council approved it, there would be two separate neighborhood meetings to explain project and <br />get feedback. <br /> <br />Miron made motion, Klein seconded, to approved RESOLUTION 2024-41 ORDERING <br />PREPARATION OF A FEASIBILITY REPORT FOR PUBLIC IMPROVEMENTS TO ALL <br />OR PORTIONS OF ROADWAYS IDENTIFIED AS THE 2025 BEAVER PONDS AREA <br />STREET IMPROVEMENT PROJECT. <br /> <br />All Ayes. Motion carried. <br />