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$1,513,215 attributed to the total Municipal Center debt. She talked briefly about the one time <br /> funding transfer from the fund balance in 2010. Ms. Lund continued that the City Council has <br /> mentioned they would like to keep the levy constant. With TIF, it brings it down to about <br /> $32,000. She presented some examples of the effect of the levy on taxpayers - on varying priced <br /> homes, and noted that it also depended upon the school district they are in. Ms Lund explained <br /> that for 2013, the City will need additional one -time funding of $417,807 to cover the $603,000 <br /> internal borrowing or one -time transfer from an undesignated fund — such as the Landfill Trust <br /> Fund. For 2014, TIF 2 and TIF 10 are decertified, which will add back approximately $605,000 <br /> to City taxes. The Street Maintenance Program was mentioned as well. Ms. Lund disseminated <br /> a handout of a graph showing the one -time transfers as well as the funds balance analysis. <br /> Mayor Ramsey stated he would like to hear how we are going to fix this in the future. <br /> City Administrator Ulrich stated that if you look at two years out, there's an issue of about <br /> $600,000. Two years out, these funds will disappear. The PIR Fund is replenished but the <br /> budget is so tight. He noted we have to find a way to reduce costs. The City Council needs to be <br /> made aware of the balances of these funds, etc. <br /> Mayor Ramsey stated that even if you subtract out the road reconstruction, we still have a hole. <br /> Ms. Lund reiterated that TIF 2 and 10 will generate about $605,000. We have to levy about a <br /> million and a half for debt service on this building. She added that 2013 is a gap year. <br /> Mr. Ulrich added so one gap year — one time money would be something we could do. <br /> Finance Officer Lund noted that the majority of the general fund is attributable to street <br /> maintenance. <br /> Councilmember Strommen stated this is good information for Council to have and we need to <br /> discuss this very seriously. She stated that last week the rest of the Council learned that Mayor <br /> Ramsey had some recommendations for change but she feels she and the rest are disadvantaged <br /> as to what to do because they do not have all the information relating to this recommendation. <br /> Mayor Ramsey stated that with regard to his recommendations, we have not talked about that yet <br /> — so we should not be worrying about that It will not happen this year. <br /> Mr. Ulrich stated that this was not specifically asked for by the Mayor. It's never a good policy <br /> to take one -time fixes. We wanted to show you what could be done plus a long -term plan. <br /> Director of Public Works Olson reported that from engineering, it's a pretty conservative <br /> estimate on the revenue provided. In 2010, there was a 93% increase with fees associated with <br /> work that was done. In 2011 — 126% - with conservative projects in the CIP - we are at about <br /> 96% for next year. <br /> City Council Work Session / November 1, 2011 <br /> Page 7of10 <br />