Agenda - Council Work Session - 05/18/2021 - Special

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DELETE: Creating a positive learning environment (education and outreach) ADD: Creating financial stability for the City. Delivering quality cost-effective municipal services to residents. Table 54: Quenon 19 The City employs a long-term maintenance program to coct-effectively maintain all 175-plus miles of City streets. Currenhye meet reconstruction projects are funded 7594 by special assessments levied against ',emitting properties, and 75 by street rortstrur` bondse which are paid back using general property taxes. no City. periodically evaluates funding sources for this on -going program. Please indi to the extent to which you would support or oppose the following funding Orman nod, which requires 25% at funding by special assessments levied against hiane fitting properties over -15 years Zero spacial assessments levied against hang properties, which mid 1 of funding by general property lax increases Bacbrir andifor gas utility fea incraasase approximately $$ per utility, per month Proposed Revision: Question 19 The City employs a long-term Pavement management Program to cost-effectively maintain all 180 miles of City streets. From 2015-2020 the City funded projects by assessing 25% to benefiting property owners and contributed 75% through bonded debt, paid with property taxes. The City Council recently passed an ordinance to collect a monthly franchise fee on gas and electric customers and dedicate this funding to the Pavement Management Program, and to eliminate the need for additional property taxes or assessments. The City periodically evaluates funding sources for this ongoing program. Please indicate the extent to which you would support or oppose the following funding sources: • Assess 25% of street project cost to benefiting property owners and pay 75% through bonded debt, paid with city-wide property taxes. • Eliminate special assessments and pay 100% with property taxes, resulting in an estimated 15% increase in tax levy. • Collect a monthly franchise fee on gas and electric customers in the amount of $7 per utility per month.