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ARDEN HILLS TRUTH-IN-TAXATION - DECEMBER 7,1998 7 . Mayor Probst addressed and corrected some ofMr. Aiken's statements, He indicated the tax capacity did drop from 1992 through 1996. There was a positive change in 1997 and in 1998 the trend has continued. There had been an overall increase in valuation due to commercial and residential improvements. The tax capacity increase was occurring at a time when property class rates have been declining. This has allowed the City to have some limited opportunity for growth, Mayor Probst referred to Mr. Aiken's statement regarding an increase in levy related to the bond failure, He noted, there had been money identified in the General Fund in 1994 when there was a significant increase following several years that were very low, One item involved was the establishment of a Building Fund which was created to allow planning for the new facilities, Mayor Probst also pointed out that the statement that Ramsey County and the National Guard are waiting for Arden Hills to finance the Joint Public Works project was not entirely correct. According to information received by the Council, Ramsey County was willing to provide financing. The interest the Council has in driving the project was in order to maintain control over what the facility will look like and how it was constructed. The National Guard has indicated they will not have any significant problems coming up with funding, It was now up to the City to determine how to proceed with the financing. As pointed out, in 1992 the bond referendum was offered for the facility and failed. The City was moving forward under the same principle for the City Hall, however, at this point the Council does not have a specific financing . plan for the Public Works facility and whether or not a referendum will be involved, Mr, Aiken asked, when the decision was made after the referendum to increase the levy going into the Land and Municipal Building Fund, was this money specifically for the Public Works facility, or was it to be used for any future construction. Mayor Probst stated the Municipal Building Fund was set up to be used for any municipal facility which may be required, not specifically for the City Hall or the Public Works facility, Mr. Post pointed out, at the time of the referendum failure, there was concern that the quality of the Public Works facility was documented as being extremely poor. One of the concerns was, if the roof needed to be repaired, where would the funds come from, Mayor Probst closed the public hearing at 8:20 p.m. and noted that, after the adjournment of the Truth-In-Taxation public hearing, there would be a Worksession immediately following a five- minute break, Mr. Post suggested the Council take action to formally cancel the proposed continuation of the Truth-In-Taxation public hearing, MOTION: Councilmember Malone moved and Councilmember Aplikowski seconded a motion to cancel the proposed continuation of the Truth-In-Taxation public hearing - 1999 Budget, scheduled for December 14, 1998. The motion carried unanimously (5-0). .