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Shakopee City Council
August 29, 2017
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| | | | | | | | | FROM: | Darin Nelson, Finance Director | | TO: | Mayor and Council Members |
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| | | | | | | | Subject:
Review of 2018 Preliminary Budget and Levy | | |
| | | | | | | | Policy/Action Requested:
Discuss and provide direction regarding the 2018 preliminary levy and budget. No formal action is being sought. | | |
| | | | | | | | Recommendation:
Staff is proposing a preliminary city levy of increase of $488,883 or 2.58 percent. In addition, the EDA is proposing the establishment of a $350,000 market value levy that will be dedicated to economic development activities. | | |
| | | | | | | | Discussion:
The City Council must certify a proposed levy on or before September 30, 2017. The Council will consider adoption of the proposed maximum tax levies for both the city and the EDA on Tuesday, September 19. Staff seeks additional guidance from the Council in preparation of necessary documents for that meeting. Attached is an in-depth budget memo. | | |
| | | | | | | | Budget Impact:
The 2018 city and EDA levies provide the necessary funds to maintain the city's current service levels. | | |
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