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City Council <br /> Resolution No. 2010-004: Supporting park funding legislation <br /> 2 <br /> • Levy Increase - The levy would only produce approximately $25,000 for every <br /> y <br /> 1/o increase. This is not a significant amount of funding. <br /> • Bonding — When there is a major development being looked at and/or when the <br /> community wants the voters to vote on an expenditure. <br /> The proposed legislation allows a City like Arden Hills to develop a plan for whatever length of <br /> p g <br /> time they choose. Each year would have a certain dollar amount to be expended. The City Y can <br /> pass the plan by public hearing and ordinance or like a bond, go to a vote of the residents. Once <br /> passed, the City would ask the County to add an assessment on to each homeowner for their <br /> share of the cost of the plan. The City Council would need to determine if all would <br /> properties <br /> be assessed the same amount. Each year, those assessment monies must be used on the plan. If <br /> there is money left over at the end of a year, the assessment for the next year would be reduced <br /> by that amount. Each resident would be able to see on their property tax forms how much of <br /> their taxes are going for park development. Unlike a bond there would be no interest or <br /> bonding agent costs. Mr. Aanerud was present at January 11, 2010 Regular City Council <br /> meeting and did a brief presentation and answered questions. The City Council chose to table <br /> q Y this item and requested that this be brought by staff back to a worksession. <br /> Recommendation <br /> Mr. Aanerud presented information on the proposed funding legislation to the PTRC at their <br /> November 17, 2009 meeting. After questions and discussion, the Committee made a motion to <br /> recommend the Council endorse the Park Funding Special Legislation. The motion carried <br /> unanimously. Mr. Aanerud has been going to the surroundingsuburbs for support of this <br /> pp <br /> legislation. This has been endorsed by the Anoka County Parks, City of Ham Lake and <br /> numerous City Councils. <br /> Attachments <br /> A— Proposed Legislation <br /> B— Resolution No. 2010-004 <br /> \\Metro-inet.us\ardenhills\PR&PW\Parks\Memos\Council Memos\011910 Park Funding_Special_Assessments.doc <br />