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MINUTES <br /> 4W60 <br /> CITY <br /> City Council Meeting—CIP Workshop <br /> Hugo Council Chambers - � EST.ID06 <br /> Monday, October 28,2024 <br /> 6 p.m. <br /> COUNCIL PRESENT: Klein, Miron, Petryk, Strub, Weidt <br /> COUNCIL ABSENT: None <br /> OTHERS PRESENT: City Administrator Bryan Bear, Finance Director Anna Wobse, <br /> Community Development Director Rachel Juba, Public Works Director Scott Anderson, City <br /> Engineer Mark Erichson, Fire Chief Jim Compton, Jr., Parks Planner Shayla Denaway <br /> City Engineer Mark Erichson presented Council a further refined and updated 5-Year Street CIP <br /> from what was presented at the Mid-Year Budget Review Workshop. The updated CIP reflected <br /> costs associated with paving of 165t' Street, the City's possible share of Elmcrest Avenue, the <br /> City's share of Fable Hills and Forest Road Bridge projects, and future trail maintenance <br /> projects. Erichson talked about pavement ratings and what the budgetary need would be to keep <br /> the pavement ratings in the ideal range. Updated CIP costs were shared with the Council, and <br /> other funding sources were discussed. <br /> Finance Director Anna Wobse shared with Council how the updated CIP would affect the Street <br /> CIP Fund Balance. Information was shared regarding tax rates and how different rates would <br /> affect the tax levy. Council had approved the Preliminary Tax Levy using an urban tax rate of <br /> 39.2% in order to help fund the already larger than normal five-year CIP that was presented at <br /> the Mid-Year Budget Workshop. Wobse shared with Council that a median value homestead <br /> should still see a tax decrease on the City portion of their tax bill mainly due to changes the State <br /> made to the Homestead Market Value Exclusion Program. <br /> Council was asked to provide direction on the updated CIP and to direct staff on what tax rate to <br /> use to prepare the Final Tax Levy that would be presented at the December 2, 2024 Truth in <br /> Taxation Public Hearing. Council had consensus on the updated CIP and directed staff to bring <br /> back the updated CIP to a future Council Meeting for adoption. Council directed staff to prepare <br /> the Final Tax Levy using the urban tax rate of 39.2%. Council also directed staff to bring back <br /> proposed increases to the assessment policy at a future meeting. <br /> Klein made motion, Strub Seconded, to adjourn at 6:58 pm <br /> Respectfully submitted, <br /> Qky,A� <br /> Anna Wobse, Finance Director <br />