Agenda - Council - 06/10/2008 - Laserfiche WebLink

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Assistant City Administrator Nelson stated that Coon Rapids experienced the same thing with the strong spike early on with abatement issues and now they only process about 1 abatement per year Police Chief Way stated that he will update the City Council on the recent abatements at the end of the meeting: Councilmember Elvig asked how the City is generating revenue. Finance Officer Lund stated that she expects the City to meet its projected numbers for 2007. She stated that for 2008, the City budgeted $497,000 based on building permits for 197 units. She stated that this number did not include additional permits such as heating permits. Councilmember Elvig confirmed that the City had taken a conservative approach in these estimates. He stated that he wanted to make sure that the City Council was cognizant of the opportunity loss on the $940,000 transfer out of the resolving equipment fund. He asked if the City Council could get a different type of monthly financial report so it is easier to compare what the City has earned versus what it has spent. He stated that if our data could be compared back to 2 or 3 years prior that would be very helpful for him. Councilmember Strommen stated that she supports the staff proposals. She stated that she likes the idea of the police officer not starting until mid - year, which gives the City a chance to change its plans if the economy changes. Mayor Gamec suggested that the City Council hang onto last year's budget because it is very helpful to go back and compare to see how the City is doing. Councilmember Dehen stated that he wanted to be consistent and reiterate that he is not in favor of adding personnel right now. Mayor Gamec stated that it looked like there was a consensus of the City Council to go ahead with staff recommendation. Councilmember Strommen stated that she would like to make sure there is a consensus, because some Councilmembers had not shared their opinion yet. Councilmember Look asked why the City was dropping down to a tax capacity rate of 39.07 and then pulling money from the revolving equipment fund. Finance Officer Lund stated that what makes the amount different is the fiscal disparity number. She stated that she suspects the County may raise the number they submitted. Councilmember Elvig stated that if the market starts to turn around, he sees this as a wonderful opportunity for the City to stay at a low rate and replenish the revolving equipment fund account and not take the entire $940,000 out