Title
Presentation and Consideration of Potential August 2019 No Tax Increase Bond Projects
Body
Issue/Request:
Presentation and Consideration of Potential August 2019 No Tax Increase Bond Projects
Key Issues:
On January 15, 2019 City staff provided the Mayor and City Council with a presentation regarding the City's debt issuance capacity. The Mayor and City Council directed City staff prepare a listing of potential No Tax Increase (NTI) bond projects that could be considered for an August 2019 NTI bond election to maintain the City's current tax levy. The Mayor and City Council directed staff to work with the Community and Economic Development Committee (CEDC) to develop a recommendation(s) to present to the Mayor and City Council for an August NTI election. City staff presented proposed projects & initiatives to the CEDC on March 13th for consideration and is now bringing forward the full Mayor and Council consideration.
City staff have prepared information related to each potential project which are attached to this packet in addition to a summary spreadsheet for review. These projects and the listing within the spreadsheet are not prioritized or listed in any particular order. At the CEDC meeting Councilmember Johnson requested the CEDC consider adding sanitary sewer and water service infrastructure that would serve the eastern annexation area (950 acres) of Lee's Summit to the potential project list. The CEDC agreed and requested staff to prepare information regarding this request to include within the packet. Information related to the request to consider sanitary sewer and water infrastructure has been incorporated into this packet.
The City has strived to maintain a consistent tax levy for debt service since the late 1990s. The City's tax levy is currently $0.4697 per $100.00 assessed valuation. The residents and the City benefit from the level maintenance of the tax levy through the avoidance of expensive tax elections, stability of tax r...
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