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Regular City Council Meeting Monday,June 20, 2023 Page 8 this time that there would be a need to acquire additional right-of-way from individual property owners. Certainly that could be a possibility, depending on the final plans, and that would not happen without further opportunity for public engagement and public input in that process. If that is the case, the City would be required to provide fair compensation. Actually what the City does per policy is to seek appraisals and if the increase to the value based on the improvement does not match what an assessment might be, the City actually limits its ability to assess a property on that basis. Absolutely there would be compensation for acquisition of right-of-way but as was noted by comments from the City's Public Works Director, currently there is no anticipation that there would be such acquisition. But, once again, that could change as the plans get more fleshed out. He noted the difference in the dollars the public was hearing was not a result of inflation. Mayor Roe indicated the anticipated project total cost is the same either way, the difference is where the dollars are coming from. The City's portion of paying for the same project total has changed because the County is looking to go for a different type of grant that they think will have more success in getting. That different grant is not as big an amount which therefore puts more onto the County and the two cities to pay. So the City's share changed but it is not suddenly the costs changed. It is the same dollar amount that is anticipated and projected for the project. The resolution was not a resolution stating the City would pay for something, the resolution was saying the City supports applying for the grant. He indicated the City does periodic traffic counts which are available at the Public Works Department. He explained the City looks forward to hearing from the public as this moves forward. e. Review Changes in Property Tax Base, Legislative Changes and 2024 Council Budget Goals Finance Director Michelle Pietrick briefly highlighted this item as detailed in the Request for Council Action and related attachments dated June 20, 2023. Mr. Trudgeon reviewed Legislative updates with the City Council. Mayor Roe noted if the City Council did not change the levy from 2023 to 2024, theoretically the tax bill for the average median single-family property,even though the value would go up 4.4 percent, the tax would go down by 1.3 percent. If the City kept the tax rate the same in 2024, theoretically the levy could increase by about 6.6 percent,and the resulting City tax bill impact to the median single-family home would go up by approximately the same percentage as their value went up. Councilmember Strahan asked about the office percent increase of 42.49 percent, if it is based on anything in particular, and is that just Roseville or is that the entire region.