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Fm'ther Discussion: Councilmember Zimmerman commented he realizeg there ig good that comes out of this levy. Councilmember Strommen explained the EDA went through the tools they have available. They discussed the revolving loan fund that should become more available to help existing businesses make improvements or upgrades. The EDA definitely discussed the levy amount, but the bottom line is $200,000 is not much when discussing land acquisition. They wanted to be sure they do not miss out. Councilmember Zimmerman questioned how much government can do in the bigger picture. He commented they have a free enterprise system. Chairperson Elvig inquired how the HRA fits into this. City Administrator Norman replied thc discussion of an HRA will be brought back in a month or so. The HRA would likely be gearing up to start with a 2006 levy. Councilmember Strommen noted this lew can be lowered, but cannot be raised. Case #3: Adopt Resolution Approving Proposed 2005 Payable Tax Levy Finance Officer Lund indicated the proposed resolution reflects a levy of $6,037,237. The EDA levy has been included in the overall general fund levy. The debt service levy would actually fall outside of this if there were to be levy limits. Certificates for 2003 and 2004 are the current certificates in place. 2005 certificates would be to purchase the capital included in the proposed budget for this year. There have been calls from attorneys regarding the Mississippi Subdrainage District, and City Attorney Goodrich is looking into this. At this time there is more in the fund than has been paid out, because the second phase of that project has not started. Chairperson Elvig questioned if the Mississippi Subdrainage District only affects a handful of people. Finance Officer Lund replied the district affects 17 pin numbers. Chairperson Elvig stated this levy must be established by September 15th. They need to establish something they think is workable and has enough money, and they can always reduce the levy. On thc other hand looking at the growth of the City, his opinion is there is a need for some spurt of growth within City staff. His concern is in covering themselves well for the growth in the City. There is a lot of personnel recommendations for 2005 that he does not doubt are needed. The City bas levy capabilities, they are not using franchise fees, and they have a fair amount of dollars in revenue. His biggest concern is that they have some sort of a quick shrink program if they are going to gear up on this, and have some sort of tool that monitors their revenue income. Councihnembcr Zimmerman questioned the percentage increase of the levy. Finance Officer Lund replied there is a 14 percent levy increase over 2004, with a tax rate increase of 8.6 percent. Chairperson Elvig noted out of 107 cities, the City of Ramsey is still in the bottom 20 percent. Finance Officer Lund explained out of the cities with a population of 10,000 to 20,000, the City of Ramsey was number 5 out of 21. Finance Committee/September 13, 2004 Page 4 of 8