Agenda - Council - 02/26/2024 - Laserfiche WebLink

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City Administrator Hagen said this discussion can be saved for later when they discuss impacts. He added that the tax rate has generally stayed flat over the past few years. Councilmember Specht asked if City Administrator Hagen is referring to tax capacity. City Administrator Hagen explained that the levy amount has had big increases over the last few years; however, due to the tax capacity growth with new development, the tax rate has remained around the 40% mark. Councilmember Specht said this could have to do with inflated house values. City Administrator Hagen stated this is part of the equation; however, there are so many new homes and businesses in the City that are adding new property values. Economic Development Manager Sullivan shared that there are some projects that are receiving TIF and noted that these are projected to decertify early which will put some tax capacity back into the general fund. He added that in 2040 the COR will come onto the tax rolls. City Administrator Hagen asked if everyone is happy with all of the future funding planning Councilmember Riley shared his concerns with the future funding of improvements that do not have funding sources yet. Finance Director Lund explained that it will help when they are able to pay themselves back for TIF-14 which will put money back into these funds and will go a long way for some of these items. Economic Development Manager Sullivan shared that he was out with a few Councilmembers, and they went through the old Town Hall. He noted they have not done anything with it and he feels like they will have to do something with this soon. He said they need to do something with it unless they want to lose the ability to do anything with it. Councilmember Specht stated he is hopeful that they are putting great things into the parks with more Staff He said there are still so many things that have not been done to keep the parks maintained and noted that he thinks they need to focus on this now that they have adequate staffing. Councilmember Howell agreed with Councilmember Specht and noted that the maintenance of parks needs to be improved. She added that from a historical perspective it would be great to work on the old Town Hall this year. She shared she also had the opportunity to tour it and noted that with it being Ramsey's 50th anniversary, something should be done with it. She would like something to be done with this on the parks plan for this year. She noted that from a business perspective, if they are able to get weekly or bi-weekly updates of what businesses in the City are feeling this would be great for the Council to keep an eye on what is coming in. She added that she would also like the Council to be able to keep an eye on what policies Staff are thinking needs to be updated. City Council Special Work Session / February 1, 2024 Page 5 of 20