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City of oseville, Chy Council Establishment of Fisenl Gauls to Guide The 1999 Budget Press AssumWiew 1. The monomy for 1999 will be satisfactory but will not be as strong as 1997 and early 1998. 2. The rate of inflation will not be higher than 2.4%in 1999 3. The Legislature will continue to reduce the merciallindustrial tax base causing an eventual shift to � co homeovaters 4. Action by the legislature will continue to reduce the role of Tax increment Financing as well as the dollars flowing from ft curmt districts. 5. The City wishes to create a positive work environment and to be a good=ployer. Ity ' ue to be community consultation and participation on major proposed projects,as the ' continue ty has done in the past. *ssion statement and Vista 2000 objectives,as amended by assumption 6 above, will continue to 7. The current nn provide general guidance in 1999. Fiscal it understands that the l limits,as set out by State Statute,is going to limit new tax dollars: A. The Council Y F is estimated to increase b no more than 2.3%or $150,000. Goal:The general tax levy ]� it will consider funding new rotes or ideas presented by the Departments and which are B. The Council g p congruent with the Council s mission and goals. funding for an new city programs will be found within the allowed tax levy or from Goal:The g y tY p other alternate non-tax sources. New programs which include realistic,additional,alternate,non-tax funding is strongly encouraged* C. The City expects to maintain its benchmark costs and tax levy in the lower one half of its like universe of MC&o communities Goat:The City will maintain its operational costs in the lowest one half of its designated universe of comparable metro cities op D. Development and redevel merit for gnomic and dousing purposes can be very capital intensive and . . developer inntive fundin from the general property tax dollar is probably not feasible. providing per g •Development and redevelopment funding,if required and necessary,will be funded from {�oa1.Ivelop p non- general property tax dollars. is desifin to create future bonding capacity for ��ty n�in the early p of the new . E. The �t�r g �. Current debt managen nt plans show strong pay down of debt over the next 4-5 y • Only special assessment street improvement debt of approximately 2+8 will be incurred in Goal: ]� # - r community needs thus continuing the City's debt capacity is to be developed for future majo c ty