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ARDEN HILLS SPECIAL CITY COUNCIL — SEPTEMBER 29, 2025 2 5. PULLED CONSENT ITEMS None. 6. NEW BUSINESS A. Set Preliminary Levy and Establish Truth -In -Taxation Public Hearing Date for Proposed Taxes Payable in 2026 • Resolution 2025-063 — Preliminary Levy • Resolution 2025-064 — TNT Public Hearing Date • Resolution 2025-065 — Appropriating Funds to Pay Debt Service on the City's General Obligation Capital Improvement Plan Bonds, Series 2025A, and Authorizing Cancellation of the 2025 Debt Service Levy Related to Such Bonds Finance Director Yang stated State law requires that cities certify their proposed property tax levies to the county auditor by September 30th of each year. The proposed tax levy that is given preliminary approval may be lowered but cannot be increased. Therefore, it is important that the proposed tax levy provides adequate revenues to finance the 2026 Budget. The City Council needs to decide the maximum levy that it is willing to approve and then adopt the proposed Resolution. There will be another budget workshop in November. The City will hold its Truth and Taxation Hearing and set the final tax levy at the December 8, 2025 City Council meeting. A budget workshop was held with the Council on September 22, 2025. The drivers behind the proposed levy increases were further discussed with the Council. Staff commented on the changes made to the preliminary budget based on Council direction which included: • Adjust the police contract amount based upon the latest estimates from the Ramsey County Sheriff s Office — increase of $103,311 • Removal of the Public Works Maintenance Worker position per the Public Works Phase 2 staffing changes — decrease of $45,373 • Delay the Old Highway 10 Trail project from 2026 to 2027 — no impact to 2026 levy Finance Director Yang provided further information on the changes within the budget and described how the median value homeowner would be impacted by the proposed tax levy at various percentages. She requested the Council approve the preliminary levy, set the Truth in Taxation Hearing Date and adopt a Resolution that would appropriate funds to pay debt service on the City's general obligation capital improvement plan bonds, Series 2025A and authorize cancellation of the 2025 debt service levy related to such bonds. Mayor Grant asked what the amount of increase in the budget would be from 2025 to 2026. He discussed how difficult it would be to maintain 50% of the general fund with a larger levy increase. Finance Director Yang reported this would be $1,024,255. Mayor Grant inquired if revenues were projected to come in $200,000 higher in 2025. Finance Director Yang stated this was the case.