Agenda - Council - 10/14/2003 - Laserfiche WebLink

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purchase of Alloy Recovery. The enabling resolution adopted in 1998 requires that all recommendationsby the EDA be sent to the City Council for approval before any action is taken. Keith Kieffer, Ramsey EDA, stated that the EDA met on September 8th and voted to recommend that the Council'approve the maximum HRA levy in the amount of $200,078. The EDA discussed using the funds for the Alloy Recovery site, site preparation on the Chives property, consulting services, work on the 167th and T.H. #47 node, and potential future property acquisition. The EDA's plan over the next two months was to put together a more detailed budget. Finance Officer Lund explained that the reason they are recommending the maximum levy is because the EDA currently has no funding source and they currently have only enough funds to operate. She presented a handout to the Committee identifying the financial impact to homeowners. , Motion by Councilmember Elvig, seconded by Councilmember Strommen, to recommend that the City Council adopt the resolution approving the recommendation of the EDA and approve the Proposed HRA Levy for Payable 2004. Further discussion: City Administrator Norman noted that the amount of the levy can always be reduced at a future date, but the Council had to adopt a proposed levy by September 15th. Mr. Kieffer noted that the EDA will be looking at potential projects and the funds that would go along with those projects to try and determine the amount of funds that will be needed. Councilmember Elvig stated that he looked at the EDA as investment dollars as opposed to potential expendi~res. Mr. Kieffer replied that there is a tangible return on investment by growing the tax base. Motion was amended to request a breakdown of potential projects and the costs associated with those projects from the EDA. Motion and amendment carded. Voting Yes: Chairperson Elvig, and Councilmembers Strommen, and Zimmerman. Voting No: None. Case #3: Review and Adopt "Proposed" 2004 General Fund Budget Finance Officer Lund stated that the 2004 Proposed General Fund Budget, as it has been presented, was based on the collection of tax dollars at a level that has an imposed levy limit for 2004 payable. Tlxis was strictly a "proposed" budget and would be amended in the following months before final adoption in December 2003. The budget as presented included $444,680 of capital outlay items with an additional $81,882 for first-year depreciation on those items. About 36 percent of these capital items/depreciation will be funded from the Equipment Revolving Fund with the remainder to be funded from the issuance of Capital Equipment Certificates. In total, Public Safety (police, fire, inspections, and civil defense) is now 36.74 percent of the budget, General Government (administration, finance, elections, planning and legal) is 28.44 percent of the budget. Public Works and Parks represent 24.20 percent and miscellaneous and Finance Committee/September 9, 2003 Page 3 of 7