The stormwater fund was scrutinized for its nearly $900,000 balance, a figure that prompted council members to question the necessity of maintaining such a surplus. The current quarterly rate for the stormwater budget is set at $29, translating to an annual total of $116, which staff asserted was sufficient to cover both operational expenses and future capital projects slated for 2025. However, the council expressed concerns about whether it might be prudent to reduce the rate, given that annual revenues were around $400,000, while expenditures fluctuated between $250,000 and $500,000 depending on project demands and weather-related impacts.

The council also deliberated on the importance of creating a long-term strategic plan for stormwater pond management, especially as some homeowners’ associations are struggling to maintain their ponds. There was a push for establishing a fund balance policy to guide the acceptable levels for all city funds, not just the general fund. Suggestions included using the surplus for necessary equipment purchases, potentially alleviating other budgetary pressures. The council leaned towards addressing these issues in a strategic planning session to ensure a comprehensive approach.

Simultaneously, the council engaged in discussions about property tax assessments, particularly those affecting the Trillium neighborhood. Questions arose about whether the costs associated with road improvements were proportionate to the length of roads compared to other neighborhoods. The council explained that assessments were based on comparable street work, meaning if one neighborhood had more extensive work, the costs would be relatively higher. They underscored the potential savings from bidding projects together, leveraging economies of scale for budget efficiency.

The council also examined assessment repayment options, allowing homeowners to pay in full by November to avoid interest charges tied to market rates. It was clarified that subsequent payments must be made in full the following year, ensuring structured financial planning for residents facing assessments such as the proposed $9,700 for some homeowners.

In the realm of public safety and lake management, the council addressed concerns raised by the Lake Minnetonka Conservation District (LMCD) representative, who highlighted the challenges of funding additional water patrol officers. The “Save the Lake” fund, historically reliant on donations, has become less reliable, raising questions about whether cities should contribute more funds through assessments to support lake safety. Efforts to enforce boating regulations and improve lake water quality were also discussed, with new licensing requirements for boat rentals being considered to enhance safety compliance.

Moreover, the council was updated on the city’s property valuation and taxation processes by Hennepin County Assessors. They explained the homestead exclusion changes, which align tax exclusions with inflation and rising home prices, and detailed the assessment process, emphasizing the need for local appraisers familiar with the area.

The council also received a presentation about the upcoming street improvement project for 2025, which targets the Windbridge Trail, Pine Circle, and Trillium areas. The project involves full-depth reclamation and was estimated to cost around $1.46 million. The council discussed assessment policies and a proposed cap of $10,000 per unit.