►
From YouTube: April 22, 2020 Board of Estimate and Taxation
Description
Minneapolis Board of Estimate and Taxation Meeting
https://lims.minneapolismn.gov/
B
B
B
Let
me
see
this
meteorite
good
afternoon.
Welcome
to
this
live
broadcast
of
our
virtual
meeting.
Our
first
virtual
live
broadcast.
Media
includes
the
remote
participation
of
members
as
authorized
under
Minnesota
statute.
Section
13
D
point:
oh
two,
one
due
to
the
declared
local
health
pandemics
for
the
record,
my
name
is
Carol
Becker
and
I.
Am
the
president
of
the
board
of
estimate
and
Taxation?
I
will
now
call
this
meeting
to
order
and
ask
the
clerk
to
call
the
roll,
so
we
may
verify
the
presence
of
a
quorum.
D
C
B
All
right
I
would
like
to
move
to
the
thank
you
very
much
with
that.
We
will
proceed
to
our
agenda,
a
copy
of
which
was
posted
for
public
access
to
the
city's
legislative
information
management
system
available
at
l,
IM,
f,
dot,
minneapolis,
MN
gov
for
all
voting.
A
roll
call
procedure
will
be
used.
So
first
item
is
the
adoption
of
the
the
agenda
board
members.
The
agenda
for
today's
meeting
is
before
us
may
a
please:
have
a
motion
to
adopt
the
agenda
so
moved.
B
D
B
D
A
C
B
D
B
B
B
Motion
passes
the
minutes
are
accepted
as
presented
I'd
like
to
move
first
to
new
business
item.
Four
on
the
GAR
agenda
is
a
resolution
authorizing
the
issuance
and
sale
of
bonds
for
assessments
for
4th
Street
improvement
projects.
One
area
way,
abandonment
and
removal,
as
requested
by
the
City
Council
may
have
may
have
an
a
motion
to
adopt
the
resolution
so.
A
B
A
B
D
B
F
Yes,
I
am
president
Becker,
absolutely
perfect.
Thank
you
for
allowing
me
to
speak
today,
I'm
here
to
our
good
afternoon,
members
of
the
board
of
estimate,
taxation,
Patrick
Todd,
the
Minneapolis
City
Assessor
I'm.
Here,
to
give
you
the
highlight
what
I
would
call
the
highlight
reel
of
the
20/20
assessment
report
for
the
board
of
estimate
taxation
which
much
the
material
was
also
presented
at
the
Ways
and
Means
Committee
in
March,
but
I
did
add
a
few
additional
slides.
That
I
felt
would
be
meaningful
to
the
board
of
estimate
taxation.
So
we
can
go
straight
ahead.
F
What
I
would
like
to
do
is
I'd
like
to
get
through
my
ten
slides
and
then
answer
questions
up
that,
if
that's
possible.
Thank
you
so,
on
the
first
slide
next
slide,
just
as
a
high-level
summary,
we
did
do
125,000
valuations
for
the
January
2nd
assessment.
We
have
had
evaluation
notices
mailed
out
in
March.
F
Just
because
we're
getting
a
lot
of
taxpayers
that
are
calling
wondering
if
we're
gonna,
make
an
adjustment
to
their
value
because
of
the
pandemic,
and
we
are
replied
to
them,
is
because
the
pandemic
wasn't
prevalent
in
the
real
estate
market
in
between
the
18
and
19
assessment
or
the
sales
that
we
would
be
looking
at
that
for
the
next
assessment,
but
not
the
current
one.
So
next
slide.
F
F
There
we
go
so
for
2010,
we
had
a
thirty
four
point:
five
billion
dollar
assessment,
but
today
we
have
a
fifty
seven.
Fifty
eight
point:
seven
assessment
right
now
that
is
a
seventy
percent
growth
in
tax
base
in
ten
years,
probably
the
most
notable
of
that
growth
is
what
we
we
see
that
in
2010,
the
apartment
segment
of
our
tax
base
was
at
nine
point
seven.
Today,
it's
a
nineteen
point,
eight,
which
is
about
a
hundred
and
five
percent
growth
in
the
apartment
tax
base,
the
on
the
other
side.
F
F
This
is
an
interesting
slide,
because
now
this
shows
tax
capacity.
So
in
the
net
tax
capacity,
that's
the
property's
taxable
market
value
multiplied
by
its
tax
rate.
So
when
we
take
a
look
at
this,
it
mirrors
very
much
the
growth
in
tax
tax
base.
If
we
take
a
look
at
the
2010,
it
was
nine
point.
Two
percent
of
the
tax
capacity
was
in
apartments
today,
it's
eighteen
point:
nine
percent
of
our
tax
base
is
carried
by
the
the
apartments.
F
F
The
most
notable
would
be
in
the
central
community,
which
really
carries
much
of
the
downtown
central
business
district
you'd,
see
in
in
the
downtown
central
business
district.
It's
fourteen
point,
nine
billion
dollars,
probably
3/4
of
it-
is
made
up
of
the
commercial
industrial
and
apartment
and
then
about
a
quarter
of
that.
Remaining
value
would
be
in
the
residential
property
tax
base.
F
Next
slide
in
this
slide.
What
you're
seeing
here
is
the
median
sale
price
versus
the
median
assessors
estimated
market
value,
so
the
blue
line
really
represents
what
these
sales
transactions
are
in
the
market.
So
that's
of
the
the
actual
sales
of
property,
but
the
orange
line
is
where
was
our
assessed
value
in
relationship
to
what
the
properties
were
selling?
So,
if
you
take
a
look
at,
let's
say
2013,
we
were
about
15%
behind
the
market.
F
This
is
this
is
an
interesting
map,
so
what
this
map
represents?
It's
based
on
real
estate
sales
across
the
city,
so
so
what
this
would
tell
us
is:
where
did
the
Assessor
need
to
lower
values?
Where
did
the
Assessor
need
to
hold
values,
and
where
did
the
Assessor
need
to
raise
values
and
it's
all
based
on
sales
in
the
sales
ratio?
F
So
so
then
we
can
take
a
look
at
let's
say
Southwest
or
calhoune
Isles
in
those
areas.
We
looked
at
those
sales,
and
we
said
where
was
the
assessment
in
relationship
to
those
sales?
In
many
cases,
we
were
right
in
that
ninety-five,
ninety-six
percent,
which
is
oftentimes
our
target
or
right
at
a
hundred
percent.
So
when
we're
right
at
that
ninety-five
ninety-six,
which
is
our
target
market
and
that's
within
the
sales
ratio
band
that
is
recommended
by
the
Department
of
Revenue.
F
F
Some
parcels
will
go
up,
some
parcel
will
go
down,
but
when
we
map
it
as
an
overall
citywide,
you
kind
of
get
a
flavor
for
where
we,
where
we
see
the
market
going
up
where
we
see
the
market
flattening
and
where
we
see
the
market
going
down
next
slide.
Here's
the
appeal,
scout's,
I,
guess
I
thought
I'd
already
seen
this
light.
F
So
this
this
you'll
see
that
we've
seen
a
spike
since
about
2017
2018
in
the
number
of
Appeals,
even
though
it's
fairly
dramatic
on
this
sheet,
it's
still
only
about
a
1%,
so
99%
of
the
population
or
the
99
99
percent
of
the
owners.
Don't
appeal:
we
have
about
a
one
in
1%
population
that
does
appeal
their
values
on
an
annual
basis.
So
we
next
slide.
F
So
this
slide
shows
the
overall
estimated
market
value
by
Ward.
So
what
you
would
see
is
how
much
value
is
carried
in
each
ward
and
when
you
sum
up
all
the
wards,
you
would
come
up
with
the
total
market
value
of
the
city.
The
thing
the
line
that
I
would
probably
highlight
the
most
because
in
most
cases
the
the
it
doesn't
change
much
more
than
one
or
two
percent
up
in
or
two
percent
down,
but
in
Ward
3.
F
D
F
Think
the
next
slide
is
my
last
slide,
and
this
is
the
commercial
industrial
growth
history
by
a
sub
market
and
I
felt
that,
because
you
might
have
an
interest
in
the
submerged,
we
picked
the
hotel,
the
industrial,
the
office,
medical
retail,
other
commercial
and
land
and
then
what
we
provided.
You
is
how
much
commercial
are,
how
much
construction
has
taken
place
in
those
sub
markets.
The
one
year,
growth,
the
five
year,
growth
and
the
ten
year
growth
over
time,
and
with
that
I
will
stand
for
questions.
Who
that
completes.
My
report.
B
A
Okay,
I'm
unmuted.
Now
you
can
hear
me
sorry
about
that.
Thank
you
very
much.
This
there's
some
very
good
information
in
here
of
mr.
Todd
I
appreciate
it
a
couple
of
things.
You
know:
technically
it's
less
money
or
less
percentage,
but
the
reality
for
people
is
that,
doesn't
that
isn't
it's
not
where
they
are?
They
see
what
what
they're
paying
and
that
it's
going
up
and
and
that's
that's
why
they
get
concerned
now.
A
But
what
I
found
really
interesting
was
you
decrease
the
the
homestead
market
value
exclusion?
So
you
increased
significantly
by
a
property
value.
You
know
in
the
neighborhood
of
about
eight
nine
percent,
something
like
that.
But
then
you
decreased.
The
the
exclusion
and
I
I
didn't
quite
understand
it's
sort
of
like
a
double
whammy
and
and
why
it
would
go
down.
What's
the
reason
that
that
has
happened
and
it's
my
valuation,
it's
a
16
thousand
dollar
difference
in
my
in
my
little
two-bedroom
900
square
foot
condo,
but
it
is
an
eight
and
a
half
percent
increase.
F
Council,
our
board
member
Becker
and
council
member
wheeler
that
that
is
a
very
great
observation
that
is
the
homestead
is
called
a
homestead
exclusion.
The
most
the
homestead
exclusion
would
be.
Is
this
your
assessed
a
seventy
six
thousand
you're
going
to
get
about
three
hundred
seven
dollar
reduction
in
your
property
taxes,
as
your
value
goes
up,
the
exclusion
goes
away.
So
by
the
time
you
hit
I
think
it's
four
hundred
and
thirteen
thousand
dollars
you
have
no
exclusion
remaining.
So
it's
we
often
turn
to
read.
F
I
often
use
the
term,
it's
a
declining
credit,
so
the
value
goes
up.
Your
goes
away.
That
is
something
that
that
number
hasn't
been
changed.
That
formula
has
not
been
changed
for
I
would
say:
10
to
15
years
might
be
something
to
look
at,
but
for
the
most
part
you're
right,
there's
the
value
goes
up.
The
exclusion
goes
away,
so
it
does
hurt
a
little
bit
more.
But
that's
that's
the
formula
and
that
formula
is
used
across
every
residential
property
in
the
state
of
Minnesota.
Okay,.
E
Bender,
thank
you,
madam
chair
I.
Just
wanted
to
state
the
obvious
that
you
know
we
will
all
have
a
lot
of
decisions
to
make
about
our
upcoming
budget
during
a
time
of
both
public
health
and
economic
crisis
in
our
community,
and
certainly
the
decisions
that
we
will
all
make
about.
The
levy
amount
will
will
impact
the
amount
of
property
taxes
paid.
So
we
do
have
some
discussion
about
that
at
the
council
meeting
where
mr.
Todd
was
able
to
present
similar
information.
E
I
just
wanted
to
note
that,
because
I'm
sure
that's
on
everyone's
mind
as
well
as
us
members
of
this
body,
you
know
it's
always
important
that
we
work
together
to
be
fiscally
responsible
and
prudent
and
transparent,
but
even
more
now
than
ever
and
so
I
think
we
are
in
the
process
of
reviewing
the
2020
budget.
Mayor
Frye
has
put
in
place
some
budget
saving
measures
already
and
then
again,
of
course,
looking
forward
to
2021.
B
B
All
right
a
couple
questions
for
you,
mr.
Todd,
over
the
last
six
years,
we've
seen
this
huge
amount
of
growth.
My
understanding
is
that
virtually
all
of
that
has
been
rental
and
that
very
little
of
it
as
been
home
ownership.
Now
I've
seen
numbers.
That
said,
something
like
like
1
out
of
every
12
units
with
ownership
or
something
90%
was
apartments.
Do
you
have
any
information
on
that.
F
B
B
My
sense
of
it
is,
is
that
virtually
all
of
the
housing
that
we
have
created
has
been
rental
property,
primarily
predominantly
corporately
owned
and
not
ownership
opportunity
that
builds
wealth
for
people
who
live
in
Minneapolis
and
I'm
curious
about
I
have
that
sense
and
I've
actually
played
around
in
your
database,
but
I
would
be
curious.
What
your
answer
would
be
to
what
percentage
of
our
new
housing
that
we've
created
has
been
apartments
and
how
much
of
it
has
been
ownership?
B
You
next
question
I
wanted
to
ask:
is
the
the
map
that
you
show
it
about
where
there's
growth
I
mean
it's
hard
for
me,
not
to
say
the
word
gentrification?
It's
do
you
have
any
sense
of
what's
driving
that
that
that
those
increases
in
north
so
much
faster
than
everyone
else
in
the
city
here,
I
mean.
Do
you
have
a
sense
of
what's
going
on
in
the
marketplace?
I
can.
A
F
From
my
perspective,
it's
all
about
an
affordability
index
and
if
you
were
to
go
to
the
one
less
the
second
to
the
last
slide
we're
looking
at
the
median
market
value
by
Warren,
and
we
take
a
look
at
Ward's,
four
and
five.
You
know
it.
There
there's
a
significant
difference
in
the
median
market
value
in
those
areas,
and
if
you
go
back
in
time,
you
know
what
you
didn't
have
to
go
back
too
far.
F
When
you
know,
let's
say
in
four
and
five,
but
in
in
thirteen,
we
were
starting
to
raise
values,
5,
10
and
15
percent,
so
just
in
the
market
swings
in
ice.
This
is
my
opinion
is
just
that.
That's
if
you
want
to
buy
a
house,
that's
still
affordable
with
today's
interest
rates.
That's
where
you
go.
First,
ok,.
F
F
F
B
I
agree
with
that.
My
taxes
looked
the
same
as
mr.
wheelers
and
I
think
I
was
around
over
ten
percent
this
year
and
knowing
that
we
have
that
much
growth
in
the
tax
base,
and
we
appreciate
you
know
that
there
is
the
tax
base,
is
growing
I'm
still
seeing
a
10%.
You
know
that's
a
big
number.
My
sister
was
at
14,
so
part
of
part
of
it
is
because
of
exactly
the
things
that
you
talked
about.
What
you're
also
referring
to
see
if
I
had
any
other
questions
here.
A
B
Ask
I
would
just
say:
I
do
have
one
other
question
kind
of
in
the
same
vein,
not
exactly
on
this
presentation
and
in
that
question
of
the
changes
that
have
happened
in
the
in
the
growth
over
the
last
six
years,
I'm
also
trying
to
figure
out
whether
what
size
of
housing
have
we
added.
My
understanding
from
something
I
read
at
HUD
was
that
70%
of
the
new
housing
has
been
one
better.
More
less
I
was
hoping
to
try
and
confirm
that
through
the
assessor's
office,
I
did
put
in
a
request.
B
I
did
get
some
data
back
haven't
had
a
chance
to
look
at
it,
but
if
you
had
just
a
little
bit
of
time
to
throw
it
that
question,
I
just
have
a
question
of
whether
or
not
we're
building
a
lot
of
housing
that
is
too
small
for
families,
especially
families
with
children
and
families.
People
of
color,
which
are
generally
speaking,
larger
than
white
families.
So.
F
B
B
B
Alright,
so
the
next
item
on
the
agenda,
let
me
see
I,
don't
have
a
clerk
I,
don't
have
to
do
any
motion
on
that.
So
the
next
item
is
a
report
relating
to
financial
markets
and
city
bonding
in
the
city
financial
impact
resulting
from
kovat
19.
The
city
coordinator
and
finance
staff
will
present
the
report.
G
Becker
members
of
the
board,
this
is
Mark
ruff,
a
coordinator
and
also
finance
staff
available
for
for
answering
questions.
It's
going
to
give
a
brief
overview,
which
is
has
been
I
believe
in
the
media
generally,
which
is
we
are
expecting
a
revenue
shortfall
this
year
for
the
city
and
I
use
the
city
I
mean
broadly
the
all
of
the
city
enterprises,
both
general
fund
downtown
assets,
Fund,
which
includes
Convention,
Center
and
Target
Center,
our
sewer
water
stormwater
parking
fund.
We
are
estimating
in
the
range
of
a
hundred
and
thirty
million
dollar
shortfall
this
year.
G
That
number
is,
as
you
can
expect
uncertain,
given
the
fact
that
we
don't
know
exactly
when
some
of
the
stay
at
home
restrictions
and
their
impacts
on
businesses
will
be
lifted
and
how
quickly
it
will
be
lifted.
But
we,
as
staff
are
working
with
our
mayor
and
city
council
on
bringing
forward
options
for
them
to
consider
later
the
spring
for
reductions
in
the
2020
budget.
G
At
the
same
time,
then,
we
are
also
working
on
a
bond
issue,
and
this
is
one
of
the
matters
that
will
come
in
front
of
the
board
at
your
next
meeting.
A
bond
issue,
the
bond
issue-
is
primarily
for
costs
that
were
already
expend
expended
last
year,
meaning
in
2019,
including
the
special
assessment
projects
that
you
regularly
consider
at
your
board
meetings.
That
number
is
in
the
neighborhood
of
30
million
dollars
of
reimbursements.
G
We
also
have
a
significant
number
of
projects
which
contract
have
already
been
let
for
2020.
Some
of
those
who
are
familiar
with
the
more
high-profile
ones
would
include
the
tenth
Avenue
Bridge
in
both
the
water
and
the
roadway
improvements
associated
with
that
a
Hennepin
Avenue
reconstruction
is
another
significant
project,
that's
underway,
as
well
as
the
many
smaller
projects
that
are
under
the
20-year
parks
and
streets
plan.
So
the
Enterprise
Fund
sewer
water,
stormwater
associated
costs
that
are
estimated
in
2020
for
those
contracts
is
in
the
twenty
five
to
thirty
million
dollar
range.
G
And
again
it's
not
just
those
larger
projects.
It's
even
things
like
that.
We
do
expect
to
have
savings
on
over
time.
For
example,
some
solar
arrays
up
that
the
Fridley
water
plant
are
gonna,
bring
obviously
operational
savings
which
will
help
cover
the
debt
service,
and
we
had
some
long
overdue
electrical
improvements
out
at
the
at
the
water
treatment
facilities,
which
are
also
part
of
a
longer-term
plan.
G
The
so
that's
a
you
know
again
a
wide
variety
of
those
expenditures,
and
then
we
have,
as
I
said,
the
parks
and
streets
and
just
normal
bridge
work.
That's
done
and
again
that's
in
the
neighborhood
of
twenty
to
thirty
million
dollar
average
annual
expenditure,
so
I
think
part
of
what
we've
talked
about
is
what
we
can
do
to
reduce
expenses
in
2020
and
assure
that
we
have
enough
cash
to
make
our
payments.
G
So,
as
you
are
aware,
there's
also
the
County
Board
took
action
this
week
to
defer
the
property
tax
payments
for
smaller
tax
payers,
and
so
it's
very
important
that
we
issue
debt
in
order
to
have
cash
on
hand
to
meet
our
regular
expenses
and
not
be
owing
funds
and
having
negative
balances
and
our
funds,
because
that
obviously
would
not
help
in
our
bond
ratings.
Nor
is
it
best
practices
from
a
financial
perspective.
G
G
And
so
that's
clearly,
a
policy
choice,
that's
unrelated
to
the
immediate
bond
issue,
but
would
be
one
that
would
be
important
because
that
would
be
reflected
than
potentially
in
a
smaller
bond
issue
in
2021.
So
with
that
I'll
pause
and
certainly
take
any
questions,
but
just
wanted
to
get
that
a
little
overview.
Thank.
B
B
Alright
I'm
gonna
give
folks
a
couple
minutes
if
they
want
I
have
a
couple
questions
that
I'd
like
to
ask
mr.
ruff
of
that
130,000,000.
Some
of
that
must
be
in
the
general
fund.
What
are
you
guys
forecasting
for
collections
for
this
year
and
and
what
cash
is
the
county
going
to
advance
cash
to
us?
If
I
see
they're
going
to
not
have
penalties
for
late
payment
until
I
think
June,
15th
so
kind
of
two
questions
there.
G
G
There's
two
elements
to
property
tax
shortfalls:
one
would
be
just
what
is
deferred
right.
In
other
words,
you
eventually
will
collect
it,
and
then
the
other
is
just
relating
to
the
Assessors
previous
comments,
which
is
how
much
are
people
going
to
be
protesting
their
values
and
what
does
that
result
in
a
loss,
right
and
and
those
are
difficult
to
separate
at
this
time.
So
we
are
just
calling
with
a
collection
rate
assumption
and
not
separating
of
those
at
this
time.
Okay,.
G
B
Understand,
can
you
give
us
a
quick
overview
of
what's
happened
with
the
sales
tax.
G
They
do
not
release
the
information
to
us
in
terms
of
what
the
actual
returns
are.
So
I
can't
tell
you,
year-over-year
I
can
tell
you
and
we
have
this
lag,
and
so
we
are
not
going
to
know
for
a
month
or
two
as
to
how
much
the
decrease
was.
I
can
tell
you
just
from
a
hotel
occupancy
standpoint.
The
drop-off
is
dramatic,
it
is
you
know,
going
from
you
know
basically
having
revenue
that
is
five
to
ten
percent
of
the
previous
year's
revenue
when
it
comes
to
Wow
well,.
B
G
B
Well,
we
have
a
contract
with
the
state,
I
mean
the
state.
Does
it
because
we
are,
we
have
the
state
under
contract
with
us
to
collect
on
our
behalf.
So
would
we
I
I'm
just
wondering
like
if
the
sales
taxes
still
collapsed
next
year?
You
might
not
know
off
the
top
of
your
head.
It's
just
a
question.
I'd.
G
B
B
G
Think
it's
less
about
non-payment
percentages,
although
we
certainly
have
had
that
occasion,
but
there's
also
a
significant
reduction
in
usage
just
because
we
do
import
jobs
into
the
city
of
Minneapolis,
and
so
when
we
don't
have
as
many
people
coming
in
a
daily
basis
to
their
workplaces.
That
is
a
net
reduction
in
just
water
and
sewer.
It
usage.
B
And
part
of
why
I'm
asking
do
we
see
at
any
point
that
we
are
going
to
have
to
do
short
term
borrowing
either
for
cash
or
for
other
budget
needs?
Because
if
we
don't
have
cash
coming
in
from
property
taxes
until
July,
we
don't
have
people
coming
into
the
city
and
drinking
water
and
flushing
the
toilets.
If
the
sales
tax
funds,
especially
like
the
lodging
tax,
the
entertainment
tax
have
basically
collapsed,
are
we
gonna
have
a
cash
problem?
When
are
we
gonna
have
to
do
borrowing.
G
We
do
not
anticipate
borrowing
for
cash
flow
purposes
as
long
and
that's
again,
part
of
the
reason
we
want
to
do.
The
borrowing
for
capital
purposes
is
to
just
keep
ourselves
current
on
our
bills,
and
so
we
are
not
we're
not
anticipating
front-end
loading
and,
for
example,
trying
to
borrow
more
money
than
we
know.
We're
gonna
need
this
year,
but-
and
we
also
I
would
just
say
that
if
we
need
to
do
any
borrowing,
it
could
be
just
done
on
an
interfund
loan
basis,
and
so
just
like
any
year.
G
There
are
times
where
our
general
fund
actually
dips
into
the
negative
because
of
the
distance
between
property,
tax
receipts
and
our
local
government
aid
receipts.
And
so
it's
not
unusual.
They
have
some
negative
balances
for
a
short
period
of
time
that
we
do
interfund,
borrowing,
essentially
or
just
essentially
lending
money
to
ourselves,
but
is
that
a
possibility
on
a
longer-term
basis,
or
maybe
the
general
fund?
Yes,
but
do
we
have
adequate
cash
balances
across
the
enterprise
to
be
able
to
handle
that?
B
But
yes,
like
I
said
it,
you
know
when
I
played
with
your
guys's
budget,
and
this
was
a
long
time
ago
now
you
know
we
could
move
money
from
water
and
sewer
over
to
the
general
fund,
or
you
know
things
like
that.
But
if
all
of
our
revenues
are
I,
don't
want
to
say
the
word
collapsing,
but
coming
down
substantially
would
we
have
a
cash
flow
point
at
some
point
throughout
the
year
that
we'd
have
to
borrow?
We.
G
G
Depends
on
what
you're
talking
about
with
capital,
we
are
certainly
looking
at
equipment.
We
are
looking
at
software.
We
are
looking
at
all
non
personnel
expenditures
as
a
way
of
reducing
those
which
would
help
them
reduce
the
pressure
on
revenues
for
all
of
our
funds,
so
that
is
underway
and
is
being
done
at
a
small
level
and
a
larger
level.
So
that's
typical
for
any
adjustment
process.
B
G
So
I
can't
I
can't
say
that
our
recommendations
to
staff,
and
ultimately
it's
up
to
the
council
and
mayor
in
terms
of
bids
that
haven't
been
formally
approved
yet
as
to
what
their
approach
is
gonna
be.
But
we're
trying
to
be
balanced
enough
that
that
trying
to
be
balanced
in
that
approach,
that
some
assets
continue
to
need
to
be
replaced,
and
it
would
be
unwise
to
just
completely
turn
off
the
spigot.
B
B
The
work
that
you're
doing
all
right,
let
me
see
I'm
gonna
check
my
my
oh
em
clerk.
Do
we
need
to
receive
and
file
these
reports.
B
A
A
not
an
agenda
item
but
I
want
to
say
a
special
thank
you
to
Abdi,
where
Sami,
who
served
on
this
board
of
estimate
taxation
very
well
over
the
over
the
course
of
the
years
that
he
was
with
us.
He
helped
was
in
the
process
of
helping
to
define
our
staff
person
and
Helen
hoppy
and
I
I,
just
he
was
at
our
last
meeting
and
in
fact
he
made
the
final
motion
to
adjourn
and
I.