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Street Supervisor Turner stated that the request for the replacement could be pushed out a few <br />years as the existing one is still in good shape. <br /> <br />Councilmember Woestehoff asked how old the current front-end loader is. <br /> <br />Street Supervisor Turner stated that it is a 2015 model. He noted that they attempt to run off of a <br />10 year window. He added that there is also a possibility that if this is approved in 2025 there may <br />be delays in receiving the equipment due to the supply chain issues. <br /> <br />Acting Mayor Riley noted that in the Staff packet the useful life of the equipment is listed as 15 <br />years. <br /> <br />Street Supervisor Turner stated that the estimated life is 15 years. He explained that they base this <br />off of the piece of equipment itself and the troubles that it has been causing. He shared that he is <br />trying to stay in front of this issue and spread the asks out over time. He noted that there has been <br />a great difficulty with ordering these trucks, which is why he is requesting this before the end of <br />the estimated useful life. <br /> <br />Acting Mayor Riley asked about the fire truck that is being replaced with the State funds that they <br />are being given. <br /> <br />Fire Chief Kohner explained that the fire truck that is up for replacement is from 1994. He noted <br />that this is passed its useful life and they are spending a lot of money maintaining it to keep it <br />operational. He shared that this is a prime opportunity to get this replaced through the funds from <br />the State. <br /> <br />Acting Mayor Riley asked if they are only looking at issuing the capital equipment certificates for <br />one year. <br /> <br />Finance Director Lund explained that it is up to Council what they choose to do. She stated that <br />the numbers that are being presented for the tax capacity have it calculated out for a single year <br />for the capital equipment certificates. She noted that each additional percentage is going to have <br />around a $200,000 impact on the tax capacity. <br /> <br />Acting Mayor Riley asked how this compares to issuance costs. <br /> <br />Finance Director Lund shared that this factors in the issuance costs. She noted that these are all <br />based on estimates due to rates. She added that she would have to reach out to the bank to see if <br />they would issue these certificates depending on what the Council chooses to include in the <br />certificates. She also mentioned that they still need to issue debt in regard to TIF-14. She noted <br />that she attended a meeting with other Anoka County cities and a lot of them were at a 4%-8% <br />levy increase. <br /> <br />Councilmember Specht asked what percentage increase they are looking at based on the new <br />positions and capital equipment that they discussed this evening. <br /> <br />City Council Work Session / August 22, 2023 <br />Page 10 of 12 <br /> <br />