►
From YouTube: September 14, 2022 Board of Estimate and Taxation
Description
Additional information at:
https://lims.minneapolismn.gov
A
A
B
C
Yes,
Madam,
chair,
I
would
like
to,
if
possible,
amend
one
item
just
because
I'm
not
sure
how
long
I
will
be
able
to
be
here
and
how
long
these
will
take.
So
my
my
ask
and
my
motion
would
be
to
amend
the
agenda
so
that
item
number
seven
gets
moved
up
to
just
following
the
public
hearing.
Okay,.
A
That
sounds
fine
all
right,
so
we
should
make
a
motion
for
the
new
proposed
agenda
with
moving
of
the
item
or.
A
All
right,
any
with
that
with
seeing
that
all
in
favor
say
aye
all.
A
Opposed,
nay,
the
eyes
have
it
and
the
agenda
is
adopted
too.
We
are
to
acceptance
of
minutes
from
the
August
10
2022
meeting
May
I
have
a
motion
to
accept
the
minutes.
E
All
right,
thank
you,
president
price
Denson
and
board
members.
It's
great
to
see
you
it's
a
pleasure
to
be
here
and
I
want
to
thank
you
personally
for
recognizing
us
and
allowing
us
to
present,
since
we
were
not
on
the
agenda.
So
thank
you
absolutely.
E
So
we're
here
to
present
our
maximum
tax
levy,
request
property
tax
request
and
in
our
general
fund
2023
to
2027
Financial
projections
and
with
that
without
wasting
any
time.
I
will
turn
this
over
to
director
Weissman
to
present
to
the
budget.
So
thank
you.
F
Good
evening,
presidents
and
and
board
members
I
will
quickly
go
through
this
in
interest
of
time
as
well.
You
received
a
copy
of
this
presentation
and
a
copy
of
the
resolution
that
was
passed
by
our
board
in
July.
So
in
July
our
board
passed
a
maximum
property
tax
levy,
request
for
2023
at
a
6.16
percent
property
tax
levy
increase.
F
We
have
since
adjusted
that
down
slightly
and
we
will
discuss
that
as
I
go.
F
So
the
first
item
that
I
want
to
talk
about
initially,
is
our
strategic
Direction,
be
cultivating
each
community's
place
and
honor
cultural
traditions
in
Minneapolis
Parks.
This
is
a
part
of
our
comprehensive
plan,
our
strategic
Direction
and
has
a
strategy
performance
goal
to
that
is
around
safety
within
our
Parks.
F
Currently
in
2022,
we
have
33
full-time
sworn
officers.
With
this
request,
it
will
provide
us
two
additional
or
officers
and
bring
us
up
to
35.
and
again
this
is
necessary
due
to
the
activation,
especially
in
the
downtown
service
area,
with
Commons
The
Commons
park,
Water
Works,
North
Loop,
and
at
this
Staffing
current
Staffing
level,
we
are
finding
ourselves
being
responding
to
calls,
as
opposed
to
being
able
to
do
the
community
policing
that
is
so
important
and
within
the
mission
of
the
park
board,
the
substant
request
we
have
is
care
for
Park
assets.
F
This
is
one
of
our
board's
strategic
directions
and
a
primary
focus
of
our
new
board
is
the
care
of
assets
that
we
currently
have,
and
this
request
would
have
provided
some
professional
management
support
that
would
enhanced
the
implementation
of
our
CIP
Park
dedication
funds
and
also
implementing
our
asset
management
life
cycle
efforts
for
all
assets
within
the
park
system.
I'm
highly
lighting
this
for
you,
because
this
is
a
strategic
direction
of
this
board.
It
is
a
direction
of
this
board
that
this
board
would
like
to
pursue.
F
F
So
the
mayor's
recommended
budget
for
2023
includes
our
current
service
level
increase,
as
well
as
the
phased
in
youth
investment,
and
you
can
see
that
phased
in
youth
investment
going
through
2027,
and
so
there
is
that
commitment
for
that
increase,
LGA
replacement.
So
we
do
have
our
certified.
Lga
dollar
amounts
have
been
released
by
the
state
of
Minnesota.
It
includes
a
cut
to
the
City
of
Minneapolis
and
LGA
flows
through
the
city
of
Minneapolis
to
the
park
board.
F
So
this
represents
the
park
board
portion
of
that
LGA
reduction
and
we're
asking
for
that
to
be
replaced
with
property
taxes
and
then
the
system
Equity
investment
amount
for
for
the
park,
Safety
and
Security
and
activation
of
our
areas.
F
So
this
is
our
general
fund
2023-2027
projection.
What
I'll
highlight
for
you
here
is
that
our
estimates
for
property
taxes,
property
tax
needs
for
2024
to
2027
are
slightly
higher
than
what
the
mayor
has
recommended
for
us
in
the
mayor's
recommended
budget,
and
that
is
due
to
the
fact
that
when
we
do
our
projections,
we
include
our
system.
Equity
investment
in
our
projections,
the
city
staff
and
mayor's
budget
does
not
include
those
system-
Equity
Investments.
F
So
what's
coming
up
for
us
for
2024
and
2025,
as
you
will
be
familiar
with,
we
have
the
Graco
Park
property
that
is
being
developed
on
the
northeast
side
of
the
river
and
that
will
be
completed
sometime
in
2024,
and
we
will
need
to
activate
that
site
with
with
Park
staff
for
programming,
as
well
as
maintenance
and
upkeep
of
that
site.
We
also
will
have
upper
Harbor
Terminal.
The
park.
G
Miss
reisman
I
had
a
question
about
the
asset
management
request
on
which
the
park
board
and
the
mayor
differed
wondering
when
this
need
became
apparent
to
the
park
board
and
whether
this
is
a
request
that
predates
the
current
budget.
G
I
would
think,
for
example,
when
the
neighborhood
park
Investments
began,
one
would
have
recognized
the
need
to
manage
some
of
the
work
going
on
there
and
the
cycles
of
those
properties.
Is
this
something
that's
been
in
previous
requests?
Or
is
this
a
new
request?
President.
A
Are
there
any
other
questions
all
right?
Well,
thank
you.
So
much
for
that
I'll
ask
for
the
clerk
to
receive
and
file
that
presentation,
and
now
we
can
move
on
to
the
public
hearing
portion.
Is
there
anybody
here
to
speak
anybody
here?
That
would
like
to
speak
all
right.
A
A
Road
Rules
are
more
or
less
non-existent,
ordinance
enforcement
also
more
or
less
non-existent.
Thus,
the
slumlords
and
overall
violators
get
a
humongous
tax
break
their
property
values,
go
down
or
not
up
as
much
special
tax
breaks.
No
problem.
If
you
don't
register
your
car
city
will
not
go
after
you.
Another
tax
break,
no
problem,
speeding,
booming
the
neighborhood
car
repair
in
the
street,
blocked
off
streets
running,
stop
signs,
burnouts
road
racing.
A
The
city
says
these
are
all
too
minor
to
go
after
more
tax
breaks
got
a
junkyard
uncut
grass
junk
cars
piled
in
the
driveway
yard,
full
of
junk
litter
falling
down
garage.
No
problem
to
the
city
leaders
Equity
from
this
perspective
is
making
all
the
folks
in
low
low
income
minority
neighborhoods
the
same
reading
lowest
common
denominator.
Instead
of
finding
and
penalizing
the
violators,
City
fines
and
penalizes
the
folks
that
abide
by
the
rules
and
guidelines.
That
appears
to
be
your
definition
of
equity
suggestion.
A
Instead
of
raising
taxes
on
the
law-abiders,
raise
the
fines
on
the
law,
Breakers
and
folks
that
ignore
ordinance
enforcement
got
a
problem
with
state
laws.
Get
them
changed,
put
the
speeding
ticket
against
the
car.
That's
what
happens
with
parking
tickets
now.
Doesn't
it
suggest
you
look
at
a
place
like
Singapore
one
of
the
cleanest,
safest
and
happiest
cities
on
the
planet?
Don't
you
think
it's
time
to
quit,
bleeding
the
law-abiding
folks
to
pay
for
tax
breaks
for
the
law?
Breaking
folks,
perhaps
take
a
look
at
all.
A
The
city
feel
good
programs
that
accomplish
nothing
but
spend
millions
of
dollars.
You
folks
don't
appear
to
live
in
the
real
taxpayers
world
as
a
second
thought.
The
city's
new
safer
guy
costs
over
a
thousand
households
three
hundred
dollars
each
per
year,
and
for
what
result?
Don't
you
think
this
would
be
a
better
City
if
you
elevated
expectations,
rather
than
keep
lowering
them,
you
folks
are
afraid
they
even
set
an
expectation
that
renters
or
homeowners
are
responsible
to
clean
up
the
litter
in
front
of
their
house
and
mow.
A
The
boulevard
got
over
38
years
here
on
the
North
side
in
Ward
5,
and
you
folks
appear
to
be
trying
your
damnedest
to
get
us
to
move
and
replace
us
with
slumlords.
Please
don't
say,
call
3-1-1.
They
already
told
us
that
there's
no
resources
or
we
don't
do
that-
call
9-1-1,
no
resources.
Call
your
councilman,
never
replies.
Send
an
email
to
the
mayor,
never
get
a
response,
but
you
all
want
more
money
for
fewer
and
worse
Services.
I
read,
shut
up,
go
away
and
pay
your
taxes
we'll
decide
how
to
spend
them.
A
A
Next,
we
will
move
on
to
well.
Our
next
meeting
will
be
September
21st
and
at
that
meeting
the
board
will
take
action
to
fix
the
maximum
certified
tax
levies
for
property
taxes
payable
in
2023,
and
that
meeting
will
be
held
at
our
regular
time
beginning
at
4
pm.
Did
you
want
to
speak,
I
did
great,
go
ahead
and
sign
in
and
you
can
speak.
A
D
All
right
all
right,
thank
you
and
thanks
for
your
patience
that
I
am
new
to
this
process.
My
name
is
Lisa
Boyd
and
I'm,
a
resident
of
the
Howe
neighborhood
in
South
Minneapolis
3618
East
38th
Street,
which
is
a
condominium
condominium,
building
I'm
in
Unit,
C
and
I'll.
Keep
this
really
I'll,
try
to
be
brief.
D
I'm,
not
good
at
that,
but
I
just
wanted
to
say
I'm
as
a
Minneapolis
resident
I'm
generally
in
favor
of
tax
property
tax
increases
when
they're
needed
recognizing
that
property
taxes
are
often
a
very
regressive
tax
that
put
undue
burden
on
people
with
lower
incomes
whose
properties
have
appreciated.
D
This
is
the
first
opportunity
I've
had
to
see
the
mayor's
proposed
post
budget
I
look
forward
to
digging
into
it
a
little
bit
more
detail.
I
haven't
had
a
chance
to
do
that
yet,
where
I
will
be
reaching
out
to
my
council
member
is
if,
as
I
review
the
budget,
where
I
see
things
that
don't
seem
to
be.
In
my
opinion,
what
is
the
top
priority
for
the
city
so
again,
generally
in
favor
of
tax
increases
when
needed,
but
I
will
be
doing
a
careful
review
to
see
where
the
my
the
mayor's
priorities
lie.
A
H
I
just
want
to
really
keep
it
short,
I'm
kind
of
shy,
but
I
just
want
to
say
be
mindful
with
the
property
tax
increase,
because
it
will
affect
renters
and
homeowners
and
that
that
caused
more
crime
in
the
neighborhood
and
I
feel
like.
We
got
a
time
and
error
where
we
can
do
a
lot
of
cleaning
to
the
neighborhood.
I
H
And
I
feel
like
we
should
just
bring
that
down
a
lot
and
just
be
mindful
that
we
just
want
to
keep
crime
as
low
as
possible.
You
know
when
things
starting
to
be
better,
so
I
thank
y'all
for
listening
Mr.
A
You
and
thank
you
for
your
comment.
Thank
you.
Seeing
that
there's
no
one
else,
I
will
close
the
public
comment.
Vice
president
Brent,
you
had
a
comment.
G
About
the
property
tax
refund
program-
and
it's
particularly
important
for
people
like
Mr
Harris
who
live
in
an
area
that's
going
to
get
hit
hard
this
year,
because
the
property
value
increases
to
know
about
programs
like
this.
G
That
could
be
particularly
important
in
words
four
and
five
this
year.
If
your
increase
is
more
than
12
percent
and
a
hundred
dollars
and
your
income
is
under
about
a
hundred
and
twenty
thousand,
you
will
be
eligible
for
a
refund
and
given
that
the
median
home
in
Homestead
Property
in
the
Fourth
Ward,
is
looking
at
a
tax
increase
of
I.
Think
it's
18.8
percent
and
in
the
Fifth
Ward
it's
14.
G
There
could
be
a
lot
of
people
out
there
who
qualify
for
that
and
I
just
wanted
to
make
people
aware,
there's
also
another
property
tax
refund
program,
that's
not
as
targeted
but
relates
to
the
relationship
between
your
household
income
and
your
property
tax.
So
you
can
find
all
of
them
on
the
Minnesota
Department
of
Revenue
website.
When
you
get
your
tax
bill
next
year,.
K
K
Part
of
the
challenge,
in
in
words,
four
and
five,
particularly
many
of
the
properties,
are
owned
by
private
investors,
who
will
likely
take
advantage
of
the
tax
credit
but
pass
the
increase
on
to
renters,
so
I
I
think
we
have
to
be
very
cognizant
of
of
that
as
well
and
I
I'm
going
to
be
absolutely
promoting
all
of
these
beneficial
programs
and
encouraging
my
constituents
and
constituents
throughout
the
city
to
take
advantage
of
the
programs
that
Vice
President,
Grant,
enumerated
and
and
yet.
A
It's
the
a
matter
of
the
extent
that
rebate
then
goes
for
them
having
to
cover
the
increased
costs,
and
these
rebates
tend
to
come
at
a
time
when
people
that
are
lower
income
need
it
the
most
when
school
is
starting,
and
so
those
resources
are
eaten
up
quite
quickly
at
that
time
of
the
year.
So
again,
as
we're
moving
on
this
journey
all
together
and
talking
about
the
levy,
absolutely
we
we
have
to
be
cognizant
and
mindful.
A
This
is
very
real
for
people
and
there
that
relationship
between
renters
and
people
that
own
properties
can't
be
lifted
up
enough
when
an
increase
happens
to
one
it
has
to
be
paid
for
somewhere,
and
so
usually
that's
made
up
by
increasing
the
rent.
Certainly,
that's
not
every
case,
but
it
does
happen.
So
thank
you
for
lifting
that
up
and
just
wanted
to
add
some
additional
notes.
There,
commissioner
men's
followed
by
vice
president
Brent.
B
A
We
don't
have
stabilization
at
the
moment,
I
think
there's
a
work
group
and
work
happening,
but
yes-
and
it
doesn't
exactly
happen
in
that
way,
right
where
it's
like
well,
give
me
your,
but
that's
that's
essentially
what
ends
up
happening
right
if
your
rent
goes
up,
that
money
has
to
come
from
somewhere,
you're
already
working,
two
or
three
jobs,
there's
only
so
many
hours
in
a
day
that
extra
money
is
going
to
come
from
somewhere.
That's
likely
to
be
that
absolutely
okay.
G
I
just
want
to
point
out
that,
in
response
to
commissioner
men's's
question,
the
property
tax
credit
is
only
available
to
the
renter
not
to
the
owner
of
the
property.
I
had
a
very
interesting
conversation.
A
year
ago,
when
I
was
running
for
this
position
with
the
landlord
before
Plex
across
the
street.
From
me
who
had
said
the
first
in
the
20
in
2021,
no
sorry
2019,
he
had
eaten
the
property
tax
increase
from
the
city,
but
in
2021
he
had
to
pass
it
on.
G
It
was
about
3
300
bucks
a
year
on
his
fourplex,
and
that
worked
out
to
about
seventy
dollars
a
month
for
each
of
his
tenants.
So
it
has
a
very
real
impact.
I
want
to
go
on
to
say
regarding
these
various
refunds,
I
believe
it
was
Ramsey.
County
had
a
piece
of
legislation
last
year
that
would
have
required.
I
believe
that
the
property
tax
refund
information
go
out
with
the
property
tax
bill
and
which
I
think
is
a
very
good
idea.
I
haven't
followed
up
to
see
if
it
passed.
G
A
For
that,
any
other
comments
from
my
colleagues
all
right,
seeing
none
again
closing
of
the
public
hearing.
Thank
you
to
everyone
who
came
today
and
shared
their
voice.
Two
of
you
miss
Boyd
and
Mr
Harris
and
again
our
next
meeting
will
be
on
September
21st,
where
the
board
will
take
action
to
fix
the
maximum
certified
tax
levies
for
property
taxes.
C
A
2023.
that
meeting
will
be
held
at
the
regular
time,
which
is
4
pm
next
on.
Our
agenda
is
moving
to
approving
the
RFP
review
process.
A
So
for
that
discussion
I,
might
we
might
ask
for
you
to
come
up
Lori,
but
for
for
that
discussion?
What
we're
really
deciding
is
the
next
steps
on?
What
is
the
process
that
we
want
to
follow
for
choosing
the
firm
that
we
agreed
upon
at
the
last
meeting
for
that
review
process,
and
so
this
is
an
open
discussion,
but
I'd
like
to
open
with
in
thinking
about
this.
A
It
would
make
good
sense
for
me
to
be
part
of
that,
since
I'll
be
directly
involved
with
the
managing
of
that,
don't
want
to
offer
up
work
for
you,
commissioner
men's,
but
it
makes
sense
representing
the
Parks
Board
and
those
interests
with
you
and
your
colleagues,
but
certainly
anybody
that
wants
to
be
part
of
it
would
make
sense.
So
we
could
move
through
it
as
expeditiously
as
possible
to
move
forward
with
that
firm
and
having
professional
staffing
to
support
this
board
that
we've
been
without
since
February.
A
So
with
that
do
any
the
discussion
is
open.
Vice
president
Brent.
G
I
would
just
add
that
I
think
councilmember
koski's
professional
background
would
provide
excellent
resource
for
that
process.
A
A
C
Moved
in
and
just
to
clarify
that,
so
that
would
be
having
a
I
guess,
a
subcommittee
that
includes
yourself
Madam
president,
commissioner,
mens
and
commissioner
Caskey.
A
C
I
K
A
Six
eyes
in
that
motion
unanimously
passes
and
we
will
move
on
to
receiving
an
overview
of
the
mayor's
2023
recommended
budget
from
director
Krueger.
L
Okay,
thank
you,
president
freestenson
and
board
members
I'm,
going
to
give
an
overview
of
the
mayor's
recommendations
for
23
and
24.
talk
a
little
bit
about
some
of
the
documents
that
you
can
use
to
dive
in
a
little
bit
more
I'll
be
referencing
the
presentation
that
we
gave
to
this
body
back
in
June
of
setting
the
current
service
level
budget.
L
This
is
sort
of
part
two
of
that
where
we're
talking
about
the
decisions
made
in
the
mayor's
23
and
24
recommended
budget,
so
I'm
going
to
start
out
by
talking
about
the
online
budget
book,
we
released
this
on
August
15th.
When
the
mayor
made
his
address
and
it's
available
on
the
city's
website.
Last
year,
we
moved
to
a
fully
online
interactive
budget
book.
L
So,
as
you
are
reviewing,
those
just
wanted
to
highlight
that
any
reader,
when
you
hit
a
bar
graph
or
a
pie
chart,
can
click
on
that
and
dive
in
and
dissect
that
data
a
little
bit
more.
You
can
sort
by
fund
or
by
program.
Whatever
is
of
interest
of
you
all
that
data
is
available
through
our
public
Financial
transparency
website.
L
We
have
also
revamped
our
financial
overview
section.
We've
created
a
budget
in
brief,
which
is
meant
to
house
all
of
the
frequently
asked
questions
we
get
about
the
budget.
The
most
important
headline
information
is
all
contained
right
there.
So
it's
a
great
place
to
start
it's
a
good
landing
page
and
hopefully
is
a
good
communication
tool
for
all
of
you.
The
book
represents
substantial
effort
by
our
department,
so
I
just
always
want
to
thank
them
for
all
the
work
they've
been
working
on
the
content
and
the
data
in
this
since
March.
L
So
thank
you
to
all
our
operating
departments
for
that
work.
The
sections
on
the
book
just
at
a
high
level.
We
have
our
financial
overview
that
I
just
talked
about
containing
the
headline
information
and
most
frequently
asked
questions
the
overall
changes
to
City
spending
and
City
revenues,
as
well
as
major
Investments
being
recommended
by
City
goal.
L
The
middle
section
of
the
of
the
agenda
for
the
budget
book
is
our
operating
Department
section.
So
there
you
will
find
detailed
information
about
each
budget
program.
You'll
find
their
mission
and
their
objectives,
as
well
as
any
new
proposed
spending.
You'll
find
an
analysis
of
what
is
this
proposal
buying?
Are
we
buying
fdes?
Are
we
buying
contracts
materials,
as
well
as
an
analysis
of
the
race,
Equity
impacts
and
the
expected
impact
on
performance?
L
We
have
a
capital
section
of
the
budget
book
which
will
go
into
our
Capital
Improvement
plan,
our
six-year
Capital
Improvement
plan.
We
also
have
links
there
to
the
capital
long-range
Improvement
committee's
report,
which
you
all
heard
from
back
in
June,
I,
believe
or
July,
as
well
as
to
Park
Board
Investments
as
well,
and
then
the
last
section
I
want
to
highlight,
for
you
are
the
financial
schedules.
L
L
I'm,
going
to
talk
a
little
bit
about
major
city
spending
and
revenue
changes
as
well
as
accomplishments
and
challenges
impacting
the
city's
budget.
So
some
of
the
accomplishments
we're
seeing
a
return
of
our
sales
tax
revenues.
As
we
discussed
earlier
in
the
year,
those
were
the
most
impacted
Revenue
Source.
We
saw
an
initial
decline
of
around
40
percent
in
2020
of
our
sales
tax
revenues.
L
We
have
since
then
created
multi-year
forecasts
for
our
sales
tax
revenues.
We
are
expecting
to
see
pre-pandemic
levels
in
2024,
but
we
are
seeing
really
promising
returns
when
we're
looking
at
the
actuals
for
2022.
L
in
21,
we
saw
about
4
million
dollars
above
our
projections
in
terms
of
the
the
total
revenue
for
that
year
and
in
2020
two
this
year
we
are
seeing
some
months
about
on
par
with
where
we
were
before
the
pandemic.
So
that
makes
us
feel
good
about
those
projections.
American
Rescue
plan
act
funds.
The
city
received
271
million
dollars
as
a
part
of
that
legislation
last
year
through
several
special
budget
sessions,
as
well
as
the
2021
adopted
budget.
L
Another
accomplishment
I
just
want
to
mention
is
that
we
have
continued
to
receive
really
positive
feedback
from
Bond
rating
agencies,
getting
an
improvement
or
a
steady,
positive
rating
this
year
and
last
year,
which
just
makes
us
feel
recognized
for
the
city's
Financial
resilience
during
this
time,
and
then
the
last
one
I
want
to
mention
is
that
when
you
look
through
the
budget
book,
you'll
see
not
only
a
recommended
2023
budget,
but
also
a
strong
plan
for
2024..
L
L
As
a
part
of
this
year's
budget,
just
to
add
to
the
transparency
and
long-term
planning
that
we're
doing
at
the
city,
some
of
the
challenges
that
are
impacting
the
budget
tight
labor
market
is
being
felt
by
the
city,
just
as
it
is
at
other
businesses
across
the
state
and
the
country,
so
we're
experiencing
a
higher
than
usual
vacancy
rate.
This
is
leading
to
slower
spending,
as
well
as
additional
stress
on
City
staff.
L
We
have
a
new
government
structure
in
the
city,
which
is
an
exciting
development,
but
it
does
add
a
layer
of
complexity
over
our
regular
work
that
you
will
see
when
you
look
at
the
budget
book.
There
are
some
changes,
some
new
departments
forming
as
a
result
of
that
we're
also
planning
to
implement
a
consent
decree
sometime
within
the
budget
window,
and
so
we
don't
have
specifics
for
when
that
will
happen.
L
But
we
have
taken
some
steps
to
make
sure
that
we
are
prepared
as
a
city
to
Faithfully
Implement,
that
eventual
consent
decree
and
then
the
the
last
one
I'll
mention
which
has
already
gotten
some
discussion
here
today.
Trends
in
property,
values
are
having
an
impact
on
who
is
paying
more
in
terms
of
their
property
taxes.
So
two
things
happening.
One
is
a
continuing
Trend,
where
we're
seeing
some
low-income
part
of
the
city's
catch
up
in
terms
of
their
market
value
to
the
growth
that
the
rest
of
the
city
has
experienced.
L
Faster
growth
in
one
year
means
faster
growth
in
your
property
taxes.
The
other
factor
I
want
to
call
out
is
some
shifting
in
the
residential
Market
versus
the
commercial
market,
so
we're
entering
year,
two
of
flat
or
slightly
decreasing
values
in
the
commercial
Market,
and
really
fast,
really
strong
growth
in
the
residential
Market
in
Minneapolis.
So
what
that
means
is
we're.
We
see
a
slight
shift
in
the
burden
from
commercial
onto
residential,
and
so
those
two
factors
together
are
making
the
changing
who's
feeling
the
impact
of
the
property
taxes
for
the
2023
budget.
G
J
You
president,
please
Denson
sorry,
members
of
the
board.
My
name
is
Robert
Harrison
I'm
here
to
present
on
our
spending
and
some
of
our
Revenue
information.
The
mayor's
recommended
budget
for
All
City
funds
is
1.66
billion
in
2023
and
it's
1.71
billion
in
2024..
J
The
figures
that
are
presented
on
this
slide
very
generally
exclude
independent
boards,
Park
Board,
municipal
building,
commission,
the
board
of
estimate
and
Taxation.
These
figures
also
exclude
things
like
interfund
transfers,
which
are
not
truly
spent
on
city
services,
the
really
movements
of
cash
between
City
funds
in
order
to
support
our
our
overall
Financial
picture.
J
The
chart
on
this
slide
shows
an
interesting
picture.
Some
interesting
Trends
with
regards
to
actual
spending
and
budgeted
spending.
You
see
actual
information
for
2022
2021.
You
see
our
current
budget
in
22
and
then
you
see
the
mayor's
recommended
budget
in
23
and
24..
J
Perhaps
most
notably,
the
dip
in
2021
is
due
entirely
due
in
large
part,
let's
say
to
a
decline
in
spending
on
our
Capital
program.
2020
was
a
very
large
spending
year.
In
our
Capital
program,
we
had
a
lot
of
costs
coming
in
related
to
the
new
Public
Service
building
those
costs
kind
of
taper
off
into
2021..
We
also
see
a
little
bit
lower
spending
in
2021
on
Personnel
salaries,
wages
and
benefits
attributable
to
a
higher
vacancy
rate.
J
J
Overall,
the
total
change
items
are
55
million
dollars,
new
Investments
across
all
funds
and
33.6
million
dollars
within
the
general
fund
in
2023.
This
plus
the
cost
of
our
ongoing
Financial
commitments
for
our
current
staff
and
programs
results
in
that
1.66
billion
dollar
figure
that
I
presented
on
the
on
the
earlier
slide,
I'm
going
to
step
over
and
start
talking
about
some
of
the
revenues
that
are
required
in
order
to
support
this
level
of
spending.
The
mayor's
recommended
budget
includes
1.66
billion
in
revenues
of
that
1.56
billion
is
coming
in
from
external
sources.
J
100
million
is
from
uses
of
accumulated
fund
balances.
A
significant
portion
of
that
for
2023
just
for
context,
is
going
to
be
uses
of
available.
Arpa
fund
balance.
Total
revenues
in
2024
are
1.71
billion,
again
1.65
billion
coming
from
external
sources.
The
remainder
from
uses
of
cash
balance
the
chart
on
this
slide
shows
you
know,
maybe
one
or
two
interesting
takeaways.
J
Our
largest
revenue
sources
are
certainly
taxes
and
charges
for
services
and
sales
charges
for
services
and
sales
is
very
broad
category,
but
if
you
can
imagine
our
water
fees
parking
rates,
utility
charges
are
all
being
lumped
into
that
category,
along
with
a
number
of
other
city
services.
J
Overall,
our
picture
is
one
of
recovering
revenues
in
our
forecast
we're
seeing
a
sustained
recovery
toward
pre-pandemic
Revenue
levels.
One
thing
that
we
did
want
to
note
as
part
of
this
presentation
was
just
the
the
positive
effect
of
the
the
planful
utilization
of
arpa
and
cares
act
dollars.
You
can
see
that
in
the
light
green
bars
in
2020
and
2021,
we
actually
have
some
arpa
revenues
that
are
showing
up
in
the
2022
bars
as
well.
J
It's
we've
kind
of
had
a
change
in
our
accounting
treatment,
so
it's
showing
up
when
the
the
dark
blue
bar
there
as
well,
but
overall,
showing
that
that
improvement
in
our
Revenue
picture.
So
next
I'm
going
to
step
through
was
start
stepping
through
at
a
high
level
some
of
our
different
Revenue
sources.
J
First,
of
course,
being
the
property
tax
levy.
The
mayor's
recommended
budget
includes
a
6.5
increase
in
the
property
tax
levy
in
23,
6.2
percent
increase
in
24..
Whenever
we
present
this
information,
we
like
to
note
that
that
6.5
is
certainly
not
an
across-the-board
6.5
percent
flat
on
all
properties
across
the
city.
It's
going
to
be
dependent
on
relative
Market,
valuations
of
different
properties,
and
it's
going
to
depend
on
the
property
type,
commercial
apartment,
industrial,
residential,
Homestead
and
so
you'll
see
6.5
certainly
doesn't
evenly
apply
in
this
case.
J
Due
to
some
factors
that
Amelia
touched
on
earlier,
a
zero
percent
increase
in
property
values
does
not
equate
to
a
zero
dollar
increase
in
property
taxes
because
of
the
relative,
larger
increase
in
Market
values
within
our
residential
home
Homestead
Properties
compared
to
our
commercial
properties,
say
you're,
going
to
be
seeing
an
increase
in
residential
Homestead
property
taxes,
even
with
a
zero
percent
increase
in
the
levy
we
did
want
to
point
out.
Our
colleagues
in
the
assessor's
office
have
developed
a
really
tremendously
helpful
online
tool
for
exploring
this
information.
J
It's
posted
online
for
Access
by
policy
makers
and
members
of
the
public
to
explore.
It's
also
posted
in
our
budget
book.
You
can
access
it
on
the
city
Assessor's
website
and
it
shows
the
impact
of
Levy
increases
by
Ward
or
Citywide
and
also
by
by
property
type.
We
have
a
preview
of
this
tool
on
the
following
slide
are
Levy
impact
estimator
and
we
shared
out
a
link
to
this.
At
the
last
time
we
gave
this
presentation,
but
it's
a
really
straightforward
tool.
Users
can
go
ahead
and
select
city-wide
or
a
view
by
Ward.
J
They
can
select
a
property
type
to
View.
Apartments
residential
Homestead
and
they
can
view
the
the
percent
Levy
change
that
they'd
like
to
see.
So
in
this
view
that
we
have
shared
out
here,
you
can
see
the
levy
change
that
we've
settled
on
is
6.5
percent
and
the
mayor's
recommended
budget.
We've
got
residential,
Homestead
Properties,
showing
up
on
here
and
we're
looking
at
a
city-wide
view.
J
The
map
on
the
left
shows
the
relative
change
and
valuations
by
Ward
the
table
at
the
top
right
breaks
down
information
at
an
aggregate
level
by
25th,
percentile,
median
and
75th
percentile
in
terms
of
estimated
market
value
of
properties,
and
then
the
table
at
the
bottom
shows
buckets
of
different
projected
changes
in
city
taxes.
So
you
get
a
sense
for
how
many
different
properties
and
affected
by
what
Change
in
city
taxes
then.
Finally,
whenever
we
talk
about
this
information,
we've
been
cautioned
to,
and
we
like
to
caution
that
these
are
truly
estimates
right.
J
J
What
will
my
2023
city
property
taxes
pay
for?
So
if
we
use
that
median
value
property
from
the
previous
slide,
we're
talking
about
1835
dollars
in
calculated
taxes
next
year,
these
go
toward
a
host
of
general
city
services,
just
in
terms
of
orders
of
magnitude,
I
mean
you're,
talking
about
General
government
services,
you're
talking
about
police
capital
and
Debt
Service,
fire
department
parks
and
so
forth.
J
Certainly
not
all
the
property
taxes
go
into
our
general
fund
for
our
general
city
services.
This
slide
shows
a
breakdown
of
the
different
components
of
our
property
taxes
that
add
up
to
that
6.5
percent
increase
in
2023.
So
starting
from
the
first
line,
we
have
our
general
fund
again
for
general
city
services,
we're
looking
at
a
9.3
percent
increase
in
that
fund.
This
is
partially
offset
by
some
decision
making
that
was
made
around
our
pensions.
J
A
couple
of
lines
down,
I'll
touch
on
that
Park
board,
we're
looking
at
5.4
percent
increase
and
again
this
supports
some
of
the
spending
on
Youth
and
Safety
Services
in
the
Parks.
Our
bond
Redemption
and
permanent
Improvement
Levy
supports
modest
increases
and
and
our
Capital
our
Capital
program
and
then
touching
on
the
pensions
teachers
retirement
Association.
Again,
we
were
able
to
effectively
reduce
the
amount
of
Levy
required
for
these
by
3.5
million
dollars
going
into
2023
on
an
ongoing
basis,
and
that
reduction
does
not
necessarily
represent.
J
It
does
not
represent
a
reduction
in
the
obligation
that
the
city
has
to
contribute
to
these
pensions.
It
really
represents
the
fact
that
the
city
has
accumulated
sufficient
fund
balance
in
order
to
reduce
the
levy
on
an
ongoing
basis.
Then.
Finally,
we
have
the
municipal
building,
commission
and
the
board
of
estimate
and
Taxation
both
were
able
to
make
reductions
to
their
Levy
requirements
for
2023,
and
we
see
those
being
restored
in
2024.
J
So
all
told
these
are
the
different
components
that
add
up
to
that
6.5
and
23
6.2
percent
in
2024,
and
we'll
note
that
these
are
respectively,
one
percent
or
1.5
percent
and
one
percent
over
the
amounts
that
we
had
projected
for
these
years
at
this
time
last
year
and
the
major
drivers
for
that
are,
you
know
necessary
needed
improvements
or
Investments
for
the
city,
as
well
as
a
slightly
lower
Revenue
projections
for
certain
Revenue
categories,
among
them
local
government
Aid
and
going
forward
right
and
and
that's
right.
We
see
those
amounts
going
forward.
J
So
at
this
point
in
the
presentation,
I'd
like
to
turn
turn
it
back
over
to
director
cruver
for
a
little
bit
more
on
the
on
the
property
tax
levy,
yeah.
L
So
this
slide
takes
a
look
at
the
Historical
property
tax
increases
and
I'm,
showing
the
the
max
Levy
the
mayor's
recommended,
as
well
as
the
eventual
Council
adopted.
Levy
I'll
note
a
few
years
where
the
maximum
Levy
was
higher
than
what
was
eventually
adopted
by
city
council.
Also,
some
some
sharp
increases
at
the
beginning
of
the
2000s.
These
I
believe
are
years
in
which
substantial
or
sorry
some
sharp
increases
in
2010
and
2009.
L
L
L
L
Thank
you
thank
you,
chair
priests
or
president
prison
said
and
council
president
Jenkins
a
great
segue
to
my
next
slide,
which
is
talked
about
LGA
Aid.
L
So
this
slide,
we
talked
a
little
bit
about
with
you
on
in
June
when
we
discussed,
and
you
already
heard
from
the
park
board,
we
are
seeing
just
under
four
million
dollars
of
reduction
of
our
LGA
aid
from
last
year
into
2020,
or
from
this
year
into
2023
you'll,
see
that
our
LGA
amount
was
held
harmless
in
2021
and
2022.
This
was
the
result
of
legislation
that
held
cities,
including
Minneapolis,
as
well
as
Rochester
and
Duluth
harmless
for
an
expected
drop.
L
A
similar
bill
was
a
part
of
larger
discussions
at
the
state
capitol
this
year.
That
did
not
make
it
across
the
finish
line,
and
so
because
that
was
already
part
of
the
discussion.
We're
hopeful
that
should
a
special
session
be
called
a
similar
provision
will
be
in
the
works,
but
it
is
unclear
and
in
order
to
have
a
conservative
and
reasonable
budget,
we
are
budgeting
for
the
lower
amount
into
the
future
and
I'll
I'll,
say
too
that
had
the
LGA
amount
remained
steady.
Our
property
tax
increase
would
be
nearly
a
full
percentage.
L
So
I
want
to
talk
about
the
five-year
Financial
direction
we.
This
is
a
slide
that
I
discussed
last
year
when
we
were
working
through
the
maximum
Levy
and
it's
important
because
it
calls
out
how
we
are
managing
a
use
of
one-time
resources
to
effectively
bring
back
some
city
services
without
spending
more
money
than
we
can
afford
when
those
those
Federal
resources
go
away.
So
in
this,
in
this
chart,
you'll
see
the
blue
and
yellow
are
our
own
source.
Our
own
sources
for
Revenue,
the
yellow,
is
the
levy
and
the
blue
is
other
general
fund
revenues.
L
The
next
bar,
the
gray,
one
is
our
current
service
level
expenses.
So
these
are
at
the
cost
of
everything
adopted
by
Council
last
year,
the
people
and
programs
pushed
forward
the
black
section
on
top
of
that
gray
bar
is
showing
new
investments
in
the
mayor's
recommended
budget,
and
so
you
can
see
there
is
a
gap
when
you
look
at
just
the
gray
and
black
together
and
the
own
source
revenues
that
blue
and
green
or
blue
and
yellow
the
green
section
is
the
missing
piece,
and
that
is
our
use
of
American
Rescue
plan
act.
L
Funds
to
replace
lost
revenues,
and
so
you'll
see
that
we
are
using
those
in
23
and
24
to
bring
back
some
city
services,
but
we
are
planning
on
not
having
that
available
in
2025
and
we
are
using
a
modest
amount
of
cash,
but
should
not
have
a
exorbitant
increase
in
the
tax
levy
to
move
off
of
that
support,
Federal
support,
and
so
this
is
really
a
chart
that
we
have
used
to
orient
ourselves
to
how
to
think
about
investing
these
American
Rescue
plan
act
funds
in
a
way
that
brings
back
some
of
the
missing
programs
and
support,
but
does
so
in
a
responsible
way
when
we
think
about
our
property
taxpayers.
A
A
G
Five
or
six
years
ago,
one
of
your
slides
showed
the
historical
increase
in
the
property
tax
proposal.
The
maximum
Levy
I
should
say.
I
G
Percentage,
it's
my
recollection
that
when
mayor
Ryback
and
his
Council
had
a
series
of
eight
percent
increases
in
the
property
tax,
they
also
had
Fairly
strong
growth
in
these
cities
in
the
city's
market
value
up
until
about
2008
2009.
When
the
recession
hit-
and
there
was
a
revolt
and
I
think
that
could
be
the
year
where
the
levy
was
set
well
below
the
maximum
Levy.
C
L
Presidentson
and
vice
president
Brandt
I
will
reach
out
to
the
assessor's
office.
They
would
be
the
ones
I
think
that
would
have
that
data
about
the
market
value
but
I'm
happy
to
reach
out
and
let
you
know
what
we
got:
okay,.
G
And
could
I
continue?
Is
that
all
right,
the
hold
harmless
provision
that
didn't
pass
in
this
year's
legislature?
Has
there
been
any
discussion
that
you've
heard
of
from
igr
about
making
that
a
retroactive
thing
next
year
for
2022.
L
Presidentson,
and
vice
president
Brandt
I
am
not
sure
I'm
trying
to
think
through
in
my
head
right
now
how
the
two-year,
how
the
fiscal
year
calendar
at
the
state
would
line
up
with
ours.
I
I
am
not
sure.
I
know
that
there
are
discussions
about
redoing
the
formula
it's
been
about
10
years,
since
the
formula
for
LGA
Aid
has
been
updated,
and
that
is
something
that
I
think
would
be
beneficial
to
the
City
of
Minneapolis
and
other
large
cities.
L
So
I
know
that
that
is
a
part
of
the
discussions,
but
I
am
not
sure
about
the
the
timing
of
when,
when
a
benefit
would
or
win
a
legislative
action
at
the
state
would
benefit
us
in
terms
of
2020
three
next
year,
yeah.
G
Okay,
the
elephant
in
the
room
as
far
as
I'm
concerned
when
I
consider
this
budget
is
that
The
Five-Year
Financial
Direction
last
December
called
for
a
five
percent
increase
this
year,
which
I
believe
would
have
yielded
15
million,
and
we
are
looking
at
a
it's.
Okay
had
a
6.5
proposal
that
would
yield
about
I,
think
27
million
I
was
and
I
haven't,
really
seen
a
coherent
explication
of
what
that
extra
money
is
doing.
G
What
it's
funding
we've
seen
the
priorities
in
the
budget
and
they
amount
to
about
33
million
and
I
I
believe
that
comparing
that
to
the
size
of
the
property,
tax
increases,
I
think
apples
and
oranges.
I
think
you
advise
me.
But
can
you
drill
down
a
little
bit
more
on
where
that
extra,
roughly
12
million
has
headed
or
what
it's
being
put
to
use
for.
L
Great
president
Christensen,
and
vice
president
Brandt
I,
will
say
that
the
ongoing
change
items
that
you
see
in
the
mayor's
recommended
budget
for
2023
are
about
15
million
dollars,
and
so
those
are
new
new
proposed
spending.
New
spending
proposals,
I
should
say
that
would
that
we're
not
planned
for
in
last
year's
five-year,
Financial
Direction,
so
I
think
that
is
explaining
much
of
the
difference
with
a
couple.
Other
caveats
that
I'll
say
is
that
our
our
current
service
level
budget
does
grow
with
inflation.
It's
the
inflationary
pressures
each
year.
L
We
inflate
for
personnel
costs
to
make
sure
that
departments
have
enough
funds
to
pay
the
the
known
pay
increases
as
a
part
of
Labor
contracts.
We
inflate
our
health
care
costs
things
like
that,
and
we
also
had
a
few
revenues
come
in
in
the
general
fund
less
than
we
expected
them
to
be
in
the
five
year.
Financial
Direction,
so
LGA
is
one
of
them.
I
believe.
L
Are
we
lowered
our
expectations
for
our
business
licensing
based
on
actual
data
only
slightly
so
I
think
the
the
combination
of
revenues
coming
in
slightly
under
where
we
expected
them
to
be
in
last
year's
five-year.
Financial
Direction
and
then
the
15
million
dollars
in
additional
programs
added
in
the
budget,
along
with
the
inflationary
increases
of
our
current
service
level
budget
together,
is
how
we
get
to
that
total
spending.
G
The
current
service
level-
that's
essentially
built
into
the
budget
right
throughout
the
budget
on
the
budget
base
not
included
in
the
in
the
chain.
Basically
the
change
items
or
the
the
additional
spending,
but
I
would
think
that
current
service
level
would,
particularly
in
these
inflationary
times,
greatly
exceed
the
increment
that
the
property
tax
increases
is
providing.
G
Is
there
am
I
wrong
about
that,
or
is
it
where's
the
money
for
that
coming
from?
If,
if
not
just
from
the
property
tax.
L
President
Christensen,
and
vice
president
Brandt,
the
current
service
level,
budget
and
I'm,
remembering
here
so
I'll,
need
to
go
check.
My
notes
afterwards
is
growing
by
about
four
percent,
so
we
have
specific
Financial
policies
on
what
we
grow
and
in
the
CSL
budget
and
what
we
don't.
It's
not
account
for
all
inflation.
As
a
starting
point
of
the
budget,
we
only
increase
expenses
around
Personnel
costs,
health,
health
insurance
costs
and
some
small
inflation
in
our
in
allocation
models.
L
So
when
we're
paying
ourselves
for
services
that
the
city
is
providing
other
departments,
things
like
rent
I.T,
so
we
don't
inflate
all
of
our
costs,
I
think
you're
right.
If
that
were
the
case,
we
would
see
a
lot
more
inflation.
But
when
we
applied
our
financial
policies
to
set
the
current
service
level
budget,
we
saw
around
a
four
percent
increase
from
year
to
year.
Yeah.
G
I
also
wanted
to
drill
down
on
the
budget
reserves
somewhat
in
this
anticipates,
maybe
some
of
the
things
that
are
in
the
second
quarter
report,
and
that
is
we
are.
We
have
a
policy
as
a
city
of
17
and
is
that
17
of
of
the
cash
position
or
the
net
position,
or
both.
L
President
presence
and
vice
president
Brandt
I
believe
it
is
the
cash
position
and
I'm
just
gonna
look
Lyle.
Has
it
in
front
of
him.
It
is
a
part
of
the
second
quarter.
So,
rather
than
reading
his
mind,
I'll,
let
him
come
speak.
Thank
you.
Lyle.
M
Hi,
thank
you
board,
so
the
the
17
Target
is
17
of
the
following
Year's
expenditure
budget.
Without
transfers.
G
And
okay,
and
is
that
that's
enterprise-wide,
not
just
the
general
fund.
M
Targets
and
requirements
for
other
funds.
G
L
Vice
president,
president
presence
and
vice
president
Brandt,
the
use
of
cash
number
I,
don't
have
right
in
front
of
me,
I
believe
it's
around
three
million
dollars
in
the
2023
budget
and
yep
very
good
and.
G
We
are
well
above
where
we
were
where
we
need
to
be
with
that,
and
was
there
consideration
going
farther
as
opposed
to
increasing
property
taxes,
in
other
words,
bringing
the
percentage.
The
budget
Reserve
percentage
down,
yep.
L
Presidentson
and
vice
president
Brandt,
that's
a
great
question
and
you'll
hear
in
a
little
bit
more
detail
from
our
controller
about
where
we
stand.
Now
this
as
a
result
of
the
second
quarter,
we
are
well
above
our
required
cash
position
in
the
general
fund,
our
required
cash
Reserve
in
the
general
fund.
L
So
certainly
from
that
perspective
alone,
more
cash
could
be
used,
but
there's
a
lot
of
other
considerations
put
into
the
budget
and
one
of
them
being
just
pull
it
up
again
this
graph.
So
if
we
are,
if
we
were
to
swap
more
cash
for
Levy,
that
would
lower
overall
all
of
these
bars,
and
so
we
we
need
to
keep
in
mind
on
how
much
cash
are
we
using
this
year?
How
much
cash
do
we
plan
to
spend
next
year,
and
where
are
we?
L
Where
do
we
need
to
be
when
federal
funds
dry
up
so
that
we
don't
have
a
large
unexpected
increase
in
the
cat
in
the
levy?
So
when
thinking
about
how
much
cash
versus
Levy
we
need
to
think
about,
are
we
setting
ourselves
up
for
a
much
larger
increase
in
future
years
because
we
are
not
increasing
the
levy
this
year?
Another
thing,
I
would
just
add,
is
use
of
ongoing
versus
one-time
spending.
We
would
never
want
to
use
cash
to
support
ongoing
spending.
We
want
to
match
that
use
with
the
source.
G
And,
of
course,
the
bond
rating
agencies
like
it,
we
it's
one
reason
we
are
where
we
are
and
I
appreciate
that.
But
I
wanted
to
ask
you
in
your
in
your
interactive
budget.
Is
it
possible
to
play
around
with
the
budget
Reserve
figures
to
see
what
the
impact
would
be.
L
President
Houston's,
and
vice
president
Brandt,
because
of
all
those
factors
I
just
laid
out,
we
do
not
have
a
model
that
would
do
that.
It
is
certainly
what
we
go
through
when
we
are
setting
the
budget
with
Finance
leadership,
but
there's
no
computer
program
that
would
allow
you
to
do
it.
I
think
you
would
just
need
all
of
the
members
of
Finance
leadership
in
a
room.
A
C
You,
madam
president,
I,
had
a
couple
items
that
can
perhaps
help
on
some
of
the
questions
that
the
vice
president
Brandt
asked.
C
So
the
first
one
you
were
asking
about
the
impact
of
LGA
and
if
somehow
we
got
the
additional
LGA
next
year,
if
it
would
impact
the
budget
first
excuse
me,
we
were
hoping
for
a
special
session
this
year
and
as
part
of
that
special
session,
the
additional
LGA
that
would
be
received
could
ultimately
it
could
be,
for
instance,
refunded,
or
we
could
choose
to
repurpose,
that
additional
funding
that
we
would
get
in
and
that
would
come
as
part
of
a
a
special
or
technical
Amendment
prior
to
the
council's
Amendments
themselves,
potentially
even
prior
to
your
adoption
of
the
levy.
C
It
looks
like
obviously,
that's
not
going
to
happen
if
it
were
to
come
in
next
year.
Granted
I,
don't
know
how
it
would
necessarily
impact
the
budget
for
2023
I
think
it
would
not
impact
the
budget
for
2023.
Rather,
those
would
be
additional
funds
that
we
would
have
on
hand
for
the
following
year.
That's
how
I
anticipate
that
it
would
happen.
Maybe
I'm
wrong
am
I
good
enough.
C
I'm
close
Okay,
and
then
you
know
you
asked
what
are
the
additional
change
items
or
where
does
that
money
go
above
and
beyond
the
base
budget
and
those
first
projections
I.
Think
there's
not
one
answer
really,
there's
a
number
of
things
that
where
those
monies
are
going,
it's
it's,
it's
the
it's,
the
LGA
that
we
were
hoping
to
get
that
we
didn't
it's
inflationary
costs
that
we
might
not
have
been
anticipating.
It's
monies
that
were
set
aside
for
a
consent
decree
that
we're
not
necessarily
part
of
the
five-year
projection.
C
It's
HR
costs
because
we're
needing
to
recoup
and
re-up
a
lot
of
the
staff
members
throughout
the
city,
where
we've
seen
some
attrition
on.
In
fact,
we
had
a
hiring
freeze
for
a
couple
of
years.
It's
additional
Monies
to
the
park
board
and
other
departments
that
have
had
you
know
programmatic
improvements
or
increases
by
the
way,
all
of
which
I
support,
just
to
be
clear
and
none
of
which,
in
my
personal
opinion,
were
frivolous.
C
These
were
necessary
costs,
but
they
are
the
indeed
there
and
then
there
are
some
decreases
in
things
like
business
licensing,
which
I
think
we
could
have
anticipated.
It
could
can
now
anticipate
given
the
pandemic
and
a
decrease
in
development
fees.
Now
I'll
note
that
in
both
the
areas
of
development
fees,
as
well
as
the
contingency
fund
several
years
ago
about
three
or
four
years
ago,
we
were
intentionally
very
conservative
with
those
numbers.
C
So
although
development
fees
were
Rising
every
year,
we
intentionally
decided
to
calculate
a
little
bit
of
a
conservative
estimate
for
upcoming
years,
knowing
that
at
some
time
the
economy
is
not
going
to
be
going.
Gangbusters
like
it
was,
you
know
two
years
ago
in
terms
of
real
estate
and
development.
That
was
I'm
very
thankful
that
we
made
that
decision.
Similarly,
we
had
the
contingency
fund,
the
amount
that
was
allocated
in
our
for
contingency
in
an
ongoing
way.
C
So,
in
other
words,
we
put
it
in
the
levy
rather
than
funding
it
on
a
one-time
basis
year
to
year
and
putting
that
full
amount
in
the
levy
protected
us
in
a
way
from
dramatic
increases
in
subsequent
years
and
then
to
your
final
question,
which
was:
can
you
dip
into
the
contingency?
Of
course?
The
answer
is
yes,
but
it's
not
advisable
because
we
have
that
contingency
fund
for
a
reason,
and
we,
you
know
any
amount
that
any
amount
that
you're
going
below
that
recommended
amount
is
putting
you
into
more
dangerous
territory
for
financial
projection
purposes.
G
And
I
appreciate
that
there
is
a
play,
a
level
that
you
get
to,
that
it
can
be
dangerous.
I
assume
that
the
city
has
17
percent
policy
for
a
reason
in
my
senses
that
we're
well
above
it
now
and
with
the
degree
of
property
tax,
that's
falling
on
some
of
the
most
vulnerable
parts
of
town.
It's
a
concern
so
I,
just
that's
what
gives
rise
to
some.
C
C
D
C
An
income
tax
like
I
think
Chicago
can
love
you
about
a
one
and
a
half
percent
income
tax
is
a
very
different
scenario
in
terms
of
the
impacted
communities,
but
I
know
whether
our
budget
team
has
really
done
an
incredible
job
and
by
the
way,
I
need
to
I'm
going
to
jump
in
just
a
second
here.
But
I
I
want
to
give
a
really
big
shout
out
to
our
our
whole
budget
team,
who,
by
the
way
as
an
individual
in
deshani,
die
and
I,
would
also
argue
as
a
collective.
C
Just
one
like
the
best
CFO
of
the
entire
country
award,
so
kind
of
a
big
deal
with
Amelia
and
Lyle
and
Lori
and
Robert.
You
guys
are
really
doing
some
incredible
job,
along
with
the
Shawnee
and
I
think,
that's
an
award
that
you
should
all
share
and
relish
and
take
great
pride
in.
A
C
With
it,
I
am
gonna
go
shortly.
Okay,.
A
C
A
I
had
just
a
few
comments:
I
wanted
to
share
I,
don't
know,
if
anything
that
you
would
want
to
weigh
in
on
mayor
fry,
but
I'll
move
through
them
as
quickly
as
possible,
Kudos
again
to
the
cross-functional
effort
of
a
fully
online
interactive
budget.
As
a
previous
staff
or
two
council
member
I
can't
say
enough:
how
wonderful
it
is
how
easy
it
was
to
move
through
the
budget.
A
I
just
made
my
comments
on
these
sheets.
Let
me
move
through
here.
A
The
commercial
properties
do
we
know
why
that
is.
Is
it
because
of
dilapidating
properties
like
I,
can
think
of
all
the
properties
that
continually
kind
of
continue
to
like
on
Lowry
the
old
Jack
and
Jill
Steakhouse
has
been
sitting
there?
Vacant
I,
don't
even
know
how
long
dilapidated
is
that
part
of?
Why
there's
just
not
a
lot
of
upkeep
with
commercial
properties
is.
Do
we
have
any
sort
of
an
inkling
why
that
is.
L
I
think
president
free
Stinson,
the
this
is
a
question
that
you
would
probably
get
a
more
robust
answer
from
our
assessor
Rebecca
malenquist.
But
what
what
I
know
is
that
a
large
component
that
goes
into
calculating
the
value
for
commercial
properties
is
vacancies
and
so,
to
the
extent
that
there
are
vacancies.
In
addition
for
places
like
hotels,
that
vacancy
rate
is
taken
to
account
when
they
are
valued
when
those
buildings
are
valued.
L
So
in
the
Years,
where
we
saw
a
lot
of
intense
travel
restrictions
that
had
an
impact
on
the
overall
value
of
those
buildings,
many
of
them
in
Downtown,
Minneapolis,
so
I
think
that
that
has
something
to
do
with
it
and
then
the
so
I
do
think
that
covid
that
impact
on
who's
coming
downtown
who's
who's,
renting
space
is
the
largest
impact
on
that.
A
And
then
on
the
just
the
snapshot
that
we
have
on
the
levy
impact
estimator
slide.
That
shows
the
full
map
are
the
darker
areas,
areas
that
are
more
deeply
impacted.
Yes,
okay,.
I
A
So
the
other
thing
I
just
wanted
to
to
raise
up
and
I
don't
mean
this
is
any
sort
of
a
mic
drop
in
any
way
is
just
that,
as
we
talk
about
I,
really
resonated
with
mayor
Frye
during
his
budget
address
when
he
mentioned
rebuilding
the
black
middle
class
and
what
came
to
mind
with
that
was
the
sustainability
piece
so
that
it's
generational
right
breaking
those
cycles
of
harm
so
that
we
can
every
generation
can
continue
to
grow.
A
So
when
I'm
I'm
thinking
about
what's
proposed
and
what
is
before
us
I'm
thinking
about
you
know,
obviously
it's
not
everyone,
but
folks
tend
to
buy
where
they're
they're
rooted
in
their
Community
already.
You
know.
So
if
you
grew
up
in
words,
four
or
five
or
whatever
word
that
is
you're
you're
likely
to
want
to
buy
there.
So
as
we're
talking
about
Bridging
the
the
gap
which
we've,
you
know,
everybody
talks
about
nationally
bridging
this
home
ownership
rate
and,
in
this
case
I'm
specifically
talking
about
black
people
in
our
city.
A
We
are
also
acknowledging
that,
by
increases-
even
if
it's
just
temporary
over
a
year
or
two,
that
it's
those
communities
that
are
going
to
be
impacted,
the
most
and
so
in
some
ways
our
budget
has
some
things
that
could
be
considered
reparations,
but
I
I
do
I
pause
and
I
think
very
intentionally
and
deeply
when
we're
talking
about
increases
because
of
that,
because
one
of
the
ways
that
we're
going
to
build
generational,
sustainable
wealth
to
rebuild
or
build
for
the
first
time
in
many
ways
that
black
middle
class
or
the
middle
class
period
is
by
reparations
for
the
harm
that
was
done.
A
That
created
the
systems
and
the
conditions
that
existed
in
those
Wards
and
so
I
just
want
it's
not
really
a
question.
It's
just
more
of
a
thought
or
a
lens
that
I
am
I'm.
Looking
at
as
we
move
forward
through,
this
I
did
have
a
question
moving
on
from
that
very
different,
the
slide.
With
with
what
will
my
2023
city
property
taxes
pay
for
the
public
works?
There's
been
a
lot
of
discussions.
I've
heard
different
people
from
Council
Members
to
to
people
in
community
talk
about
the
conditions
of
our
sewers.
A
Is
that
something
that
we're
planning
for
in
the
future?
It's
a
lot
of
our
portions
of
our
sewer
system.
Are
you
know,
over
100
years
old
and
at
some
place,
that'll
be
a
hefty
expense?
Is
that
something
that
we're
already
thinking
about
in
either
the
The
Five-Year
Plan
or
even
within
a
two-year
plan
of
kind
of
like
what
we're
doing
with
consent
decree,
knowing
that
this
is
coming
and
putting
some
funds
aside?
For
that?
Yes,.
L
President
pre
Stinson,
there
is
a
lot
of
work
going
on
on
our
sewer
systems,
most
of
that
is
capital
and
or
it's
a
built
into
the
Utility
Fund.
So
that's
why
you
don't
see
a
lot
of
information
about
that
here.
Those
are
sort
of
the
other
half
of
the
budget,
our
utility
or
Enterprise
funds,
where
the
fees
that
you
pay
to
use
the
sewer
system
are
used
to
upkeep
that
mean
to
maintain
those
services
and-
and
so
that's
sort
of
there's
more
information
on
that
in
the
budget
book.
A
And
I
see
you
vice
president,
this
might
be
a
Miss
malmquist
question
and
it's
probably
both,
but
one
of
the
things
I
also
hear
out
in
community
at
different
meetings
and
just
hearing
what
people
have
to
say
is
in
people
for
people
that
live
in
wards
that
do
predominantly
have
more
wealth.
A
One
of
the
things
that
you
hear
folks
saying
sometimes
when
they're
unhappy
or
there's
a
situation
as
well
I'm
going
to
leave
and
I
think
sometimes
the
impression
is
that
wealth
is
leaving,
but
when
I'm
using
the
property
tax
tool
it
does.
When
you
move
things
around
like
Ward
3,
for
example,
it's
almost
a
savings
for
some
folks
in
a
way
versus
others.
So.
L
Yeah
so
I
think
president,
if,
if
you're
asking
about
sort
of
do,
do
the
the
higher
income
parts
of
our
city
see
the
same
increase?
Is
that
kind
of
getting
at
your.
A
Question
yes,
I
guess
I
would
I
would
call
this
if
I
had
to
call
it
a
thing.
I'd,
maybe
I'd
call
it
a
wealth
flight.
Is
that
something
that
we've
that
we've
truly
seen
that
you
that
you
think
has
impacted
Us
in
any
way,
because
I'm
not
seeing
it
when
I
use
that
calculator
at
all?
That
seems
to
be
a
false
narrative,
yeah.
L
President
I
think
that
we
I
don't
interact
with
any
data.
That
would
tell
me
if
that
is
true
or
false.
What
what
we
do
see
is
really
strong
growth
in
our
residential
market,
and
so
I
would
imagine.
If
no
one
is
interested
in
buying
a
house,
we
would
not
see
nine
ten
percent
increases
in
our
residential
market
value.
That's
right.
A
All
right
that
answered
that
and
then
I
mean
we
don't
know
what
we
don't
know
what's
not
in
our
control
is
not
anything
could
happen
at
any
time,
but
with
the
with
the
proposed
increases
for
this
year
and
next
year
and
kind
of
balancing
that
with
arpa
funds
and
doing
that,
do
we
think
that,
though,
that
then
we'll
then
level
out
again
is
this
kind
of
just
to
we
need
to
get
service
levels
back
up.
A
We
obviously
have
new
programming
to
meet
the
needs
and
the
priorities,
but
that
should
kind
of
level
out
and
not
you
know
again.
We
can't
make
a
promise
like
that,
but
being
that
we
have
a
6.5
and
then
a
6.2
just
wondering
is.
That
is
that
kind
of
the
hope
is
to
kind
of
do
this
now
to
be
able
to
level
out
a
bit
later,
when
we
don't
have
those
additional
funds
coming
in
as
well.
L
President
Preston
I'll
just
put
up
the
five-year
Financial
Direction,
and
so,
if
you'll
look
at
the
last
row,
the
overall
increase
this
will
show
you.
The
projected
increase
in
the
levy
for
out
to
2028,
and
so
indeed
we
see
2025
is
still
I-
think
on
the
higher
side
of
average,
with
a
5.8
percent
estimate
at
this
point,
that
2025
is
a
key
year,
because
that
is
the
first
year
where
we
won't
have
arpa
funds
to
use
to
support
city
services
after
that
5.2,
3.8
and
3.8.
L
So
I
think
yes
would
be
the
answer
that
there
we're
projecting
out
into
the
future
a
much
lower
annual
property
tax
increase.
These
are,
of
course,
estimates
and,
as
vice
president
Brandt
pointed
out,
we
are
higher
than
we
projected
to
be
last
year
at
this
time.
But
yes,
it
does.
We
are
projecting
and
we
always
include
a
five-year
look
at
our
property
tax
when
we
do
a
new
budget.
So,
yes,
on.
A
L
Okay,
great
question
in
2020
2012
through
2015,
it
looks
like
we
were.
We
were
negative
one
year,
but
right
between,
like
two
percent
and
zero.
K
A
G
First
I
want
to
respond
to
president
pree
Stinson's
question
about
sewers.
I
can
assure
you,
as
an
Emeritus
member
of
click,
that
sewers,
whether
they're
storm,
sewers
or
sanitary
sewers
or,
in
addition,
water
projects.
Water
distribution
system
is
really
the
it's
the
boring
stuff
of
the
capital
program
because
you're
doing
the
same
thing
over
and
over
year
after
year,
but
it
gets
the
highest
support
among
quick
members
when
they
produce
their
ratings.
G
I
did
have
one
question
that
I
probably
should
have
asked
earlier
of
the
mayor
or
of
the
budget
office
about
the
economic
inclusion,
yep.
Okay
of
the
economic
inclusion
program.
New
spending
that
was
presented
I
noticed
that
seven
of
the
15
initiatives
in
that
area
had
money
in
the
first
year
and
didn't
have
money
in
the
second
year
and
I
mean
my
gut
feeling.
Is
it's
pretty
hard
to
develop
long-term
economic
inclusion
in
one
year's
worth
of
spending?
G
L
President
prison
and
vice
president
Brandt,
the
question
was
about
our
economic
inclusion.
The
economic
inclusion
proposals
in
the
budget.
I,
don't
have
that
page
in
front
of
me.
I
can
get
to
it,
but
my
memory
is
that
many
of
those
are
for
for
capital-like
projects,
so
we're
investing
in
the
building
of,
for
example,
there's
a
substance
abuse
facility,
that's
being
built.
There
are
other
Economic
Development
projects
that
are
truly
one
time
in
nature.
There
are
a
few
pilot
programs,
but
that's
my
memory,
not
looking
with
a
page
in
front
of.
C
Me
I
can
speak
to
it.
Mr
Mr,
Vice
President,
so
yeah
huge,
as
was
stated
correctly
by
our
exceptional
budget,
lead
Amelia,
cruver
I
would
say
that
the
majority
of
those
economic
inclusion
items
are
one
time
in
nature,
so
you
got
Dreamland,
for
instance,
over
on
38th
Street,
which
I
believe
got
a
500
000
location.
You
have
Zara
on
West
Broadway
that
got
a
I
think
a
million
dollar
allocation.
This
time
around.
C
We
have
a
number
of
items
that
are
specifically
geared
towards
recovery,
and
so
recovery
needs
to
happen
now,
as
opposed
to
I
mean.
Obviously,
we
recover
on
an
ongoing
basis,
but
there
are
especially
there
are
special
needs
that
need
to
take
place
in
the
immediacy,
none
of
which
will
have
an
a
long-term
or
impact
on
the
Levy
itself.
I'm
happy
to
go
into
other
specifics
on
the
economic
inclusion
front
as.
G
L
G
B
Yes,
I
am
really
concerned
about
how
the
commercial
Market
in
downtown
is
going
to
impact.
The
long-term
tax
levy
can
can
and
I
know
that
we're
talking
about
residency
rates
I
mean
what
do
we
know
what
those
residency
rates
are
right
now
in
those
big
buildings,
and
it
feels
to
me,
like
you
know,
the
corporations
left
downtown
and
now
we're
trying
to
get
property
taxes
from
the
north
side
and
we're
living
off
the
backs
of
that.
So.
B
C
L
That
sounds
great
president
presents
and
board
members.
This
is
something
that
we
think
about
and
talk
about
all
the
time,
and
so
what,
where,
where
we
find
ourselves
often
is
reading
a
lot
of
Doom
and
Gloom
headlines
about
folks,
never
coming
back
and
people
and
then
looking
at
the
data
that
we
have
in
front
of
us
and
what
we
are
seeing
in
the
actual
data
that
we
have
is
is
not
a
giant
cratering
of
the
property
values.
L
I
think
we
are
always
reading
up
and
getting
the
most
information
we
can
about
projections
moving
forward,
but
we
just
have
not
come
to
see
any
data
that
tells
us
we're
going
to
see
a
steep
decline
in
those
commercial
values,
but
it
is,
there
are
a
lot
of
unknowns
and
a
lot
of
risks,
and
so
we
just
try
to
read
as
much
as
we
can.
We
try
to
follow
other
jurisdictions.
L
B
Thank
you,
I
have
one
more
question
unless
you
want
to
go
ahead,
Miss
mayor
fry
well,
actually
it's
a
suggestion
that
I
would
like
to
remind
everybody
on
this
committee
and
with
the
city
that
there's
one
place
in
our
Park
Board
budget,
that
I'm
going
to
just
put
a
little
plug,
for
that
has
remained
the
exact
same
forever
and
is
a
really
good
way
for
us
to
coordinate
and
that's
our
Parkways,
where
we
we
in
this,
the
city
and
the
park
sort
of
own
those
spaces
and
I
get
a
lot
of
feedback
as
a
park
commissioner,
around
the
status
of
ours
Parkways,
and
that
there
is
just
not
enough
money.
N
B
C
Your
concern
there,
commissioner
men's,
is
well
founded
in
that
I
think
for
a
long
time
there
there
has
been
this
I
I
I've,
seen
a
sentiment
in
some
policy
makers.
None
up
here
that
downtown
doesn't
matter,
and
we
just
we
so
exclusively
just
care
about
the
neighborhoods.
Well,
here's
the
thing
downtown
impacts
the
neighborhoods.
It
impacts
it
greatly.
C
There
are
buildings
in
our
downtown
core
that
generate
about
as
much
property
tax
revenue
as
as
other
Wards
in
their
entirety,
I'm
exaggerating
slightly,
but
not
a
lot,
and
that
sort
of
calls
to
attention
the
need
to
make
sure
that
you
have
a
vibrant
downtown
for
a
whole
city.
You
need
it
and
while
our
city
is
experiencing
the
exact
same
thing
that
every
single
City
throughout
the
country
is
experienced
and
actually,
if
you
look
at
other
cities
of
comparable
size,
our
return
to
work
is
going
slightly
better,
not
dramatically,
but
slightly
better.
C
When
you
have
a
decline
of
tenants,
you
have
a
decline
in
valuation
and
when
you
have
a
decline
in
valuation,
that
by
law
offsets
that
payment
to
the
residential
I
mean
it
that
now,
if
you
look
at
the
results
in
this
year's
budget,
I'll
tell
you
it
was
significantly
better
than
I
was
anticipating
the
the
shift
from
commercial
to
residential
was
I,
think
somewhere
around
one
percent,
so
one
percent
valuation
taken
off
of
some
of
the
commercial
and
one
percent
valuation
put
on
to
residential
I.
C
Think
if
you
were
to
look
at
the
decline
decline
in
downtown
specifically,
it
probably
would
have
been
a
little
bit
more
than
one
percent.
But
to
answer
your
question:
what
is
the
plan
a
couple
things
one?
There
are
some
commercial
buildings
that
will
be
transitioned
to
residential.
C
Hopefully
that
will
Aid
in
keeping
up
the
valuation
that
would
come
from
those
respective
buildings.
Second
I
think
there's
a
necessary
transition
from
one
kind
of
office-based
commercial
space
to
a
more
open
style,
Cooperative
or
collaborative
office.
C
we're
now
having
to
deal
with
this
stuff
a
lot
faster
and
the
truth
is
nobody
knows
you
know
you
can
read
every
article
out
there
and
every
one
of
them
will
say
something
slightly
different
and
I.
Don't
know
what
the
answer
is
and
I'm
sure
there
were
things
and
decisions
that
we're
going
to
make
here
and
have
made.
Some
of
them
are
going
to
be
brilliant
in
10
years,
and
some
of
them
will
be
really
dumb
and
it's
very
difficult
to
determine
which
which
of
those
they
are
all
you
can
do.
C
A
It's
not
anything
you
need
to
hear,
but
yes
thank
you
mayor,
mayor
fry
is
now
leaving
us,
but
we
do
still
have
a
quorum.
Just
want
to
note
that
I
was
just
thinking
about
what
you
said,
commissioner
men's
and
I.
Think
every
downtown
is
innately
unique
we've
all
most
most
of
us
have
been
blessed
enough
to
be
able
to
travel
and
every
downtown
is
different.
But
I
do
think.
A
When
we
talk
about
safety
when
a
downtown
starts
to
move
towards
being
more
residential,
it
does
tend
to
help
safety,
because
you
have
more
eyes
and
there's
more
people
out
not
to
bring
up
Saint
Paul
but
take
St
Paul.
You
go
down
there
at
night
right.
The
the
downtown
life
of
Minneapolis
versus
St
Paul
is
very
different.
A
I
I
laugh
sometimes
about
the
Tumbleweeds
at
night.
I
used
to
have
late
night
met
Council
meetings
over
there,
and
so
it
is
very
different,
and
so
there
is
a
relationship
between
lighting
which
is
in
this
budget,
increased
lighting
as
part
of
safety
people
being
out
and
around
also
I
think
when
you
move
to
things
becoming
a
little
more
residential.
The
the
conversation
of
being
less
car
Centric
comes
up
as
well
for
obvious
reasons,
climate
change
and
other
things
so
to
to
Echo
off
of
what
you
both
said.
A
We
don't
know
but
I
think
we
have
to
be
willing
to
be
agile.
We
have
to
be
flexible,
I
would
add
to
what
mayor
fry
said.
On
top
of
the
experts,
the
community
experts
I
think.
Sometimes
we
don't
think
of
community
as
experts.
You
know,
they're,
not
just
neighbors,
but
they
have
expertise
and
so
making
sure
that
our
processes
are
as
Community
Driven
and
focused
and
prioritized
as
possible,
with
our
City
Experts
and
doing
more
of
that
Outreach
and
having
some
deeper
engagement
plans.
A
I
think
will
help
us
as
we
head
on
this
Innovative
journey
of
the
unknown.
It's
not
going
back
to
how
it
was
before
covid
people
are
not
going
to
be
going
back
to
work
in
that
way.
I
think
we
know
enough
to
be
able
to
say
that,
and
so
downtown
is
going
to
change.
The
question
is:
are
we
going
to
allow
it
to
change
and
be
reactive,
or
are
we
going
to
be
part
of
shaping
that
change
and
be
responsive
and
I?
Think
that's
really
what
the
question
is.
G
Commissioner
mendz's
comment
about
the
impact
falling
on
places
like
the
north
side
reminds
me
that
I
have,
in
the
back
of
my
mind,
sort
of
been
noodling
on.
How
could
that
be
addressed
legislatively
because
the
system
is
governed
by
by
the
state?
Is
there
a
way
where,
if
you're
in
a
TCAP
area
the
areas
of
concentrated
poverty,
could
you
have
a
different
kind
of
circuit
breaker
if
you're
below
a
certain
income?
G
If
you
have
increases
like
we're,
seeing
here
of
18
in
the
Fifth
Ward
for
the
median
property,
and
that
sort
of
expanding
on
that
I'd,
like
to
sort
of
suggest
to
my
colleagues
that
it
would
be
helpful
for
us
to
interact
with
the
intergovernmental
Department
in
some
fashion
in
shaping
the
city's
legislative
program
next
year,
I
mean
the
council
obviously
deals
with
a
wide
variety
of
areas.
We
tend
to
deal
more
with
taxation,
but
there
are
some
things
I'd
like
to
see
discussed
as
potentially
being
added
to
that
program.
N
President
priest,
Stinson
and
vice
president
Brandt
I
mean
I,
don't
know
that
there's
any
history
of
that
happening,
but
you
know
the
board
could
take
an
action
to
send
a
recommendation.
You
know
to
the
city
council,
you
know,
I
know
that
I
I
guess
I,
don't
know
for
sure,
but
I'm
fairly
certain.
That
igr,
which
does
a
lobbying
comes
in
with
you
know,
a
set
of
objectives
every
year
and
I'm
sure
that's
approved
by
the
council.
So
you
know
that
might
be
an
opportunity
to
to
make
a
recommendation.
A
I,
don't
think,
there's
anything
saying
that
we
can't
do
that.
So
if
there's
energy
for
that
I
know,
I
would
have
it
I
think
that's
a
great
idea,
I
like
to
be
Scrappy
and
I
like
to
sometimes
Break
The
Rules
by
following
the
rules,
because
there
are
always
gray
areas
and
call
it
exploding
or
whatever
you
want
to
call
it,
but
I
like
to
dig
into
a
good
gray
area
and
use
it
to
our
own
use.
A
So
breaking
the
rules
by
following
the
rules
until
there's
a
rule
that
says
we
can't,
then
we
can
and
so
I'm
always
I'm,
always
down
to
throw
into
things
that
are
Innovative
or
that
take
a
different
approach
to
looking
at
what
the
the
rules
or
the
losses
we
can
and
can't
do
and
anything.
It
says
that
we
can't
that
that
is
not
clear.
It's
a
gray
area
and
until
somebody
says
we
can't
perhaps
we
should
or
we
will
are
there
any
additional
comments.
K
Thank
you
I
think,
commissioner
mans
was
ahead
of
me,
but
I
will
go
first.
If
you
don't
mind
and
I
was
just
going
to
comment
that
we
take
suggestions
from
the
community
around
the
igr
legislative
agenda,
it's
not
uncommon
to
hear
from
community
members
or
advocacy
groups
or
other
concerned
groups
about
items
or
issues
that
we
might
want
to
consider,
adding
to
our
legislative
agenda
and
I
and
I.
Think
that's
a
really
great
process
and
I'll
leave
it
in
there.
B
Yeah
I
just
think
it's
great
that
we
all
have
it
sort
of
on
the
tip
of
our
radar,
because
I
think
it
is
really
that
big
elephant
in
the
room
around
tax
values
and
what's
coming
up
so
having
everyone
sort
of
focus
there.
Looking
ahead,
like
the
city
said
so
I'm
gonna
have
to
bounce
here
soon
too.
So
I
don't
know.
A
All
right,
there
is
no
further
discussion
on
that
item.
We
are
on
our
last
item
on
the
agenda,
but
certainly
not
least,
our
financial
status,
quarterly
report
from
our
City
of
Minneapolis
controller,
and
thank
you
for
your
patience.
M
Foreign
vice
president
Brandt
member
of
the
board,
thank
you
for
having
me
here
this
evening.
I
am
Lyle
Hodges
I'm,
the
controller
in
the
city's
finance
and
Property
Services,
Department
and
I'm
here
to
present
the
financial
status
report
as
of
second
quarter
2022..
This
is
a
companion
to
the
longer
PDF
report.
That
has
more
analysis,
and
so
this
is
just
a
summary
of
what's
in
that
longer
report.
M
So
the
financial
picture
of
the
city
as
you've
been
hearing
as
we
talk
about
often
is,
is
continues
to
be
impacted
by
the
pandemic,
but
we
do
remain
strong
so
this
summer,
the
bond
rating
agencies
that
we
use
when
we
are
issuing
debt,
reconfirmed
their
increased
or
improved
outlooks
for
us
that
they
gave
us
last
fall,
so
they
they
went
from
stable
to
positive
from
pitch
and
from
negative
to
stable
for
s
p,
we're
seeing
parking
revenues
rebound
not
yet
returning
to
pre-pandemic
levels,
of
course,
we're
seeing
building
permits
and
local
tax
revenues
also
increasing
over
2021
amounts,
as
has
been
discussed
earlier
in
this
meeting,
the
the
city
council
has
made
spending
decisions
and
allocations
for
our
American
Rescue
plan
act
funding,
and
so
that's
allowing
us
to
invest
in
the
community
as
well
as
invest
in
the
city
to
replace
some
of
that
Revenue
that
we've
lost
during
the
pandemic.
M
M
Our
total
book
value
of
cash
and
Investments
as
of
June
30th
2022,
is
just
under
1.2
billion,
so
that's
an
increase
of
about
136
million
from
where
we
were
at
the
same
time,
in
2021,
we
are
meeting
our
fund
balance
and
net
position
requirements
and
all
but
two
funds
listed
there
as
self-insurance
and
the
information
technology
fund.
Those
are
both
self-insured.
M
Those
are
both
internal
service
funds.
Our
parking
fund
is
currently
under
the
minimum
cash
balance,
and
that's
again
due
to
that
loss
of
Revenue
that
I
mentioned
before,
and
our
sanitary
sewer
fund
is
under
the
minimum
cash
balance,
but
they
have
a
plan
in
place
to
get
back
to
their
target
by
the
end
of
2024..
M
So
jumping
into
the
general
fund,
specifically,
this
is
where
we
account
for
all
activity,
except
that
activity
that
must
be
accounted
for
elsewhere.
Our
2022
projected
ending
fund
balance
is
about
157
million.
That
represents
a
14
and
a
half
million
dollar
increase
from
where
we
were
at
the
end
of
2021
again
as
we've
discussed
that
exceeds
the
17
minimum
minimum
fund
balance
requirements
which
would
be
equal
to
92.3
million
and
that's
based
on
the
subsequent
years
expense
budget.
M
The
original
budget
did
include
a
17
million
dollar
plan
to
use
the
fund
balance
and
we
rolled
over
some
unspent
allocations
from
2021,
which
would
have
increased
that
use
of
fund
balance
to
20.6
million.
So
you
can
see
we're
performing
better
than
budgeted
the
year-end
cash
balance
for
the
general
fund
is
also
projected
to
increase
by
about
14.5
million
and
to
end
the
year,
just
under
174
million
dollars.
M
So
the
following
slides
have
some
charts
and
graphs,
showing
us
operational
revenues
expenditures.
So,
on
the
revenue
side,
the
the
blue
bars
in
this
graph
here
represent
or
the
bars
on
the
left,
represent
the
budget
for
each
category
in
the
chart
below
and
then
the
bars
on
the
the
right
the
green
bars
represent
where
we
project
to
end
the
year.
So
you
can
see
in
most
categories.
M
M
This
chart
shows
us
that
we
take
a
look
back
when
we're
doing
our
analysis
at
the
previous
three
years
Collections,
and
what
we
see
is
that
typically,
we
do
collect
more
than
budgeted,
and
then
this
year
we
are
projecting
to
collect
just
more
than
we
typically
do
over
budget.
So
we're
we're
again
projecting
Revenue
collections
of
102.7
percent
of
the
budget.
M
Foreign,
this
slide
is
for
the
expenditures.
So
again.
Similarly,
the
bar
on
the
left
and
the
graph
shows
us
the
budget.
The
bar
on
the
right
shows
us
the
expenditures
and
the
chart
below
shows
us
the
major
expenditures
by
department-
and
so
here,
in
contrast
to
the
revenues
we're
expecting
to
be
under
budget
in
in
most
departments.
M
We
do
see
fire
here
projection
to
be
over
budget
they've
got
some
overtime
costs
that
will
be
eased
as
they
introduce
more
Cadets
into
the
firehouses
Public
Works
is
a
little
bit
unique.
They
they
charge
out
their
services
to
other
departments
and
capital
projects,
and
so,
as
those
projects
are
higher,
they
have
their
expenses
are
higher,
so
they
they're
trending
over
budget
for
2022.,
but
yeah.
The
collective
under
spending
is
projected
to
be
about
19.5
million
in
the
general
fund.
M
And
then
again,
so
this
is
the
expenditure
side
of
that
graph.
That
shows
us
that
we
do
historically
experience
budgetary
Savings
in
the
general
fund,
so
typically
we're
about
97
percent
spent
by
the
end
of
the
year,
and
this
year
we
will
just
be
slightly
less
than
97
spent
at
96.7
percent
of
the
2022
budget.
M
The
next
few
slides
take
us
into
fund
categories
as
a
whole.
So
again,
this
is
where
the
PDF
report
has
each
of
these
funds
broken
out
and
analyzed
separately,
but
collectively
our
special
Revenue
funds
are
used
to
account
for
and
Report
the
proceeds
of
specific
revenues,
as
the
name
would
imply.
Our
significant
major
special
Revenue
funds
are
listed
there.
These
are
things
at
the
convention
center.
M
M
So
this
chart
shows
us
again
that
fund
by
fund
analysis
of
where
cash
and
fund
balance
are
started
at
the
end
of
2021
and
where
we're
projecting
them
to
be
at
the
end
of
2022.
So
you
can
see
not
a
lot
of
movement
in
most
areas
until
you
get
just
over
halfway
down
in
the
grants
fund.
That's
where
we're
seeing
the
large
increase
again
due
to
arpa
cash
received.
M
M
M
This
reflects
the
consistent
spending
and
according
to
budget,
and
it
also
includes
some
additional
outlay
that
we're
hoping
to
make
in
the
Fleet
Services
fund
to
put
some
more
Vehicles
into
service.
You
know
they've
been
hit
by
supply
chain
issues.
Just
like
you
hear
in
the
news
for
everyone
else.
M
M
And
then,
finally,
we've
got
the
Enterprise
funds,
so
these
are
the
business
type
funds
that
do
sell
goods
and
services
to
external
third
parties.
Primarily,
they
include
all
the
utility
operations
and
the
funds
listed
there.
In
the
second
bullet
point,
These
funds
track
a
net
position
which
is
projected
to
increase
again
just
slightly
by
about
8.3
million
from
2021
to
2022.
M
Cash,
likewise,
is
projected
to
increase
by
a
similar
amount,
8.4
million
from
0.21
to
2022,
again
cash
being
stable
in
most
funds,
with
some
increase
in
storm
water
due
to
budgeted
operating
gains.
A
G
That's
on
page
66
and
I
would
just
ask
if
there's
a
way
we
can
get
more
transparency
here
to
separate
out
the
types
of
local
taxes,
sales
tax
being
one
of
course,
and
the
various
special
taxes
that
contribute
on
top
of
that
I
just
would
find,
because
there's
been
a
lot
of
talk
about
the
performance
of
all
those.
It
would
be
helpful
to
have
that
broken
out
in
the
future.
G
30
I
guess
it's
currently
budgeted
at
31
million.
Is
that
is
that
a
operating
subsidy
or
is
that
a
capital,
a
capital
spending
item
or
a
combination
of
both.
M
President
free
Simpson
vice
president
Brandt,
the
transfer
from
the
downtown
assets
special
Revenue
fund
to
the
convention
center
special
Revenue
fund
I
believe
is,
is
a
combination
of
both
so
there's
some
subsidy
to
support
operations,
but
then
there's
also
some
debt
and
Capital
Investments
that
are
required
to
be
made
at
the
convention
center
and
that
collectively
supports
both
of
those
that
money.
M
G
So
is
this
the
big
debt
from
the
expansion
of
the
convention
center?
That
happened
a
number
of
years
back,
my
impression
is
that
was
paid
off
or
or
is
it
smaller
capital
projects
that
accumulated
since
then,.
M
President
presence
and
vice
president
Brown,
so
the
the
debt
related
to
the
expansion
of
the
convention
center,
was
due
I
believe
in
2020,
and
we
refinanced
that
for
a
five-year
payoff.
So
some
of
it
is
that
debt
still
but
be
paid
off
in
the
next
five
years
and
then
yeah
there's
an
ongoing
Capital
program
at
the
convention
center,
where
they
work
to
improve
the
facility
to
keep
it
world
class
to
continue
to
attract
events
or.
G
Would
that
Capital
work
outside
of
that
it
was
refinanced.
Would
that
be
a
more
of
a
capital
outlay,
as
opposed
to
a
new
debt.
A
Seeing
that
there's
no
further
discussion,
we
would
thank
you
for
presenting
to
us
today
and
I
would
move
further
clerk
to
please
receive
and
file
those
that
presentation
we
are
at
the
end
of
our
meeting
quickly.
Before
did
you
have
something
commissionment?
Okay,
we
are
at
the
end
of
our
meeting
quickly
before
we
adjourn
here.
I
just
wanted
to
mention
that
it
is
Hispanic.
Heritage,
Month
and
I
wanted
to
focus
on
the
numbers
of
that
very
quickly.
A
The
Latina
Hispanic
Community
also
lifting
up
that
me
as
a
black
and
Mexican
woman,
I,
don't
identify
as
Hispanic,
so
it's
much
larger
than
that
window.
We
don't
all
have
Spanish
Heritage.
However,
the
all-encompassing
Latina
Community,
as
we
are
known,
is
six
percent
of
the
population
of
our
state.
In
2020
they
added
10
billion
dollars
to
Minnesota's
economy.
A
They
add,
they
pay
600
million
dollars
in
state
and
local
taxes
and
they
pay
35
million
dollars
to
property
owners
and
I,
say
all
that
to
say
I
say
all
of
that,
because
focusing
on
these
numbers
I
want
I'm
going
to
continue
to
remain
to
lift
up
the
relationship
between
property
owners
and
renters,
and
if
it
wasn't
for
renters,
we
would
not
have
Property
Owners.
A
So
both
are
equal
stakeholders
at
the
table,
and
it
is
important
that,
as
we
move
our
work
and
where
we
talk
about
numbers-
and
we
do
engagement
for
public
comment,
that
renters
are
renters.
Voices
are
equally
important
to
our
property
owners
and
that,
specifically,
in
this
case,
these
numbers
lay
out
a
very
small
Financial
picture
of
the
financial
vibrancy
that
our
Hispanic
and
Latino
Community
provide
to
the
state
of
Minnesota
and
our
local
economy.