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05-13-24-WS
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05-13-24-WS
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themes included bike lanes, park and trail improvements; structures and road maintenance; storm <br />water system maintenance and utility infrastructure; fire station. Respondents also provided their <br />concerns and additional comments for Council consideration. Some common concerns shared is <br />that an increase to property taxes would burden taxpayers and would remain in effect indefinitely. <br />Additionally, some respondents shared that non -profits should be assessed a fee in lieu of taxes, <br />which would mean assessing a levy increase on residents and imposing a franchise fee on non- <br />residential and non-profit organizations. <br />Additional Information and Considerations: <br />Staff prepared additional analysis to include the impact of a franchise fees and/or property tax <br />increase to manufactured homeowners, apartment renters, and commercial properties per <br />Attachment D. Below is an example of the impact to a manufactured homeowner. <br />In order to generate $455,000 of revenue for the City, a $37,200 average manufactured <br />homeowner would see an increase of: <br />• $3.86 per month on their utility bill under an electric -only franchise fee scenario —or- <br />$5 per month on their utility bill under both a gas & electric franchise fee scenario —or- <br />e $1.52 per month on their property tax bill under a bonding scenario, where property <br />taxes are levied to pay back the bond <br />Monthly Impact on Manufactured Homeowners (MH) <br />Franchise Fee and/or Property Tax Increase <br />Home <br />Cost per Home <br />Market <br />Franchise Fee C - Property Tax <br />Value <br />A- Electric Only B- Gas & Electric Increase' <br />#of <br />Homes <br />Total <br />Cost <br />$ 5,300 $3.86 $5.00 $1.16 <br />57 $ <br />66.12 <br />$ <br />13,100 <br />$3.86 $5.00 $1.25 <br />54 <br />$ <br />67.50 <br />$ <br />27,000 <br />$3.86 $5.00 $1.40 <br />54 <br />$ <br />75.60 <br />$ <br />37,200 <br />$3.86 $5.00 $1.52 <br />54 <br />$ <br />82.08 <br />$ <br />55,200 <br />$3.86 $5.00 $1.72 <br />54 <br />$ <br />92.88 <br />$ <br />172,800 <br />$3.86 $5.00 $3.93 <br />1 <br />$ <br />3.93 <br />Each monthly scenario would generate $455,000 annually <br />1: Includes an equal share of MH Park Land Property Taxes <br />274 <br />$ <br />388.11 <br />In July, Council will review a proposed Capital Improvement Plan (CIP). Council may want to <br />direct Staff on how it wants to see funding allocated for the proposal, or Council may want to see <br />the updated draft plan and then decide how to allocate funding. Council may also want to discuss <br />what, if any, additional public engagement is needed. A separate public hearing for franchise fees <br />is not required, the City can choose to approve ordinances and a franchise agreement with Xcel <br />Energy. If Council decides to move forward with a franchise fee, Staff recommends having it in <br />place no later than October 1 for implementation in 2025. If Council decides to move forward with <br />a levy increase, it would need to be done in -conjunction with the preliminary 2025 levy at the end <br />of September. Staff will need direction in July on how to proceed forward. <br />Page 3 of 4 <br />
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