Minutes - Council - 09/11/2007 - Laserfiche WebLink

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23) Adopt Resolution #07-09-229 Declaring Cost to be Assessed and Ordering Preparation of Proposed Assessment for Improvement Project #07-06 (Sea1coat and Crackfill Xenon Street, Jackel Street & Iguana Street) 24) Adopt Resolution #07-09-230 Declaring Cost to be Assessed and Ordering Preparation of Proposed Assessment for Improvement Project #07-07 (Sealcoat and Crackfill MSA Streets) 25) Adopt Resolution #07-09-231 Declaring Cost to be Assessed and Ordering Preparation of Proposed Assessment for Improvement Project #07-08 (Bituminous Overlay Green Valley Estates 2nd) 26) Adopt Resolution #07-09-232 Declaring Cost to be Assessed and Ordering Preparation of Proposed AssessmentJor Improvement Project #07-09 (Bituminous Overlay Shady Lawn Est, Trott Brook Ridge & Zirconium Street) 27) Adopt Resolution #07-09-233 Declaring Cost to be Assessed and Ordering Preparation of Proposed Assessment for Improvement Project #07-10 (Overlay Section 15 Unplatted) 28) Adopt Resolution #07-09-234 Declaring Cost to be Assessed and Ordering Preparation of Proposed Assessment for Improvement Project #07-11 (Bituminous Overlay Section 22 Unplatted N/O Alpine Drive) Motion carried. Voting Yes: Mayor Gamec, Councilmembers Elvig, Olson, Dehen, Jeffrey, Look, and Strommen. Voting No: None. Case #8: Report from Finance Committee 1) Adopt Resolution Approving Proposed 2008 EDA Levy . Finance Officer Lund stated the recommendation of the Finance Committee with one abstaining vote was to bring forward the levy for 2008 in the amount of $393,375. This is the same amount that was levied in 2007. It is the City's stance that all levies will remain the same as 2007. Councilmember Look stated h~ abstained from the vote on this in the Committee meeting because he felt the EDA levy, which is derived of both residential and commercial tax base, ultimately purchases properties and makes them available to perspective businesses coming into the City. These business may cut a deal on the property. His concern is that they have an imbalance with the commercial tax base and the residents. There is about $6.6 million in taxes that is gained from both residential and commercial properties, and approximately $250,000 of those taxes are coming into the general fund from the commercial tax base with 95% of the residents carrying the lion's share of the taxes. His concern is as they continue to purchase properties and TIF them, that they 90ntinue to create a scenario where. for however many years that money does not actually go back into the general fund to offset the residential taxes, although it does go back into the general fund to help pay for road and infrastructure in the TIF district. For a well balanced community you need a strong commercial tax base to offset the residential tax base, and he does not see that in their community. Finance Officer Lund advised the EDA levy is based off of market value while the general levy is based off of tax capacity. City Council / September 11,2007 Page 15 of 22