Tracy City Council Allocates Funds for Demolition and Approves 2025 Budget and Tax Levy
-
Meeting Type:
City Council
-
Meeting Date:
12/09/2024
-
Recording Published:
12/09/2024
-
Duration:
33 Minutes
-
State:
Minnesota
-
County:
Lyon County
-
Towns:
Tracy
- Meeting Overview:
In a recent meeting, the Tracy City Council made several financial decisions, including a significant allocation for the demolition of dilapidated houses and the approval of the 2025 budget and tax levy. These decisions are aimed at addressing community concerns and enhancing the city’s infrastructure and fiscal planning.
A major focus of the meeting was the allocation of $50,000 from the general fund to the Economic Development Authority (EDA) for the demolition of rundown houses within the city limits. The council emphasized the necessity of removing these structures to mitigate potential liabilities, such as increased landfill expenses. One member expressed optimism, hoping to surpass the estimated number of demolitions, thereby making substantial progress in revitalizing neglected areas.
In addition, the council reviewed a transfer of $65,000 from the ineligible fund to both the water fund and the general fund. This transfer was initially intended to support the development of a Supervisory Control and Data Acquisition (SCADA) system. However, the future of this project remains uncertain as the council awaits potential funding opportunities from external sources.
The meeting also involved the approval of the final tax levy for the 2025 fiscal year. After some confusion regarding resolution numbers, the council clarified and revised the motion to approve resolution 2024-112, adopting the final tax levy. The resolution was unanimously passed.
Following the tax levy approval, the council moved forward with the approval of the 2025 budget. The budget presentation, led by a key contributor named Tyler, highlighted an expected increase in the net change of the fund balance, despite the use of funds from both the ineligible fund and the hospital fund. Specifically, $65,000 was to be drawn from leftover funds from street projects, and approximately $154,000 from the hospital fund. The budget includes various revenue sources, such as general taxes, licenses, permits, and intergovernmental revenue, with a portion tied to state grants.
A notable discussion point was the unexpected influx in revenue from special assessments, as many residents chose to pay off their assessments on projects like the 3A and Center Street, avoiding annual interest costs. Tyler confirmed that the interest rates were not substantially high, which contributed to this financial outcome.
The council also deliberated on capital assets, emphasizing the necessity of repaving the bike path and exploring grant funding to cover the costs. The decision on whether to proceed with the bike path project in 2025 or wait for grant approval in 2027 was debated, considering the importance of environmental studies and engineering costs tied to federal grants.
Another budgetary item involved airport funding. A substantial portion of intergovernmental revenue is earmarked for constructing airport hangers, as detailed in the budget documentation. The anticipation of clearer financial pathways by the end of 2025, particularly concerning water and sewer funds, was noted.
The meeting continued with various resolutions, including corrective actions for specific households and gambling permits for an upcoming banquet organized by the Southwest Great Divide. A resolution expressing support for state bonding infrastructure improvements was also approved, highlighting recent discussions with state legislators and efforts to secure funding for infrastructure projects. The potential involvement of a recommended lobbyist to assist in these efforts was considered.
Pam Cooreman
City Council Officials:
George Landuyt, Seth Schmidt, Jeri Schons, Dave Tiegs, Jan Arvizu, Brian Hinrichs
-
Meeting Type:
City Council
-
Committee:
-
Meeting Date:
12/09/2024
-
Recording Published:
12/09/2024
-
Duration:
33 Minutes
-
Notability Score:
Routine
Receive debriefs about local meetings in your inbox weekly:
-
State:
Minnesota
-
County:
Lyon County
-
Towns:
Tracy
Recent Meetings Nearby:
- 12/23/2024
- 12/23/2024
- 168 Minutes
- 12/23/2024
- 12/23/2024
- 46 Minutes
- 12/23/2024
- 12/23/2024
- 56 Minutes