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Home My WebLink About2022-03-22 Public hearingECP -1 (To be published between: March 2, 2022 and March 11, 2022) Notice of meeting of the City Council of the City of Iowa City, State of Iowa, on the matter of the proposed issuance of not to exceed $8,900,000 General Obligation Bonds of the City (for essential corporate purposes), and the hearing on the issuance thereof 10. Public notice is hereby given that the City Council of the City of Iowa City, State of Iowa, will hold a public hearing on the 22nd day of March, 2022, at 6:00 P.M., at 28 S. Linn St, The Center, Iowa City, Iowa, at which meeting the Council proposes to take additional action for the issuance of not to exceed $8,900,000 General Obligation Bonds, for essential corporate purposes, to provide funds to pay the costs of the opening, widening, extending, grading and drainage of the right-of-way of streets, highways, avenues, alleys, and public grounds; the construction, reconstruction, and repairing of any street and streetscape improvements, with related utility work, traffic control devices, lighting, sidewalks, and the acquisition of real estate for such purposes; and the rehabilitation and improvement of parks already owned, including facilities, equipment and improvements commonly found in city parks. At the above meeting the Council shall receive oral or written objections from any resident or property owner of the City to the above action. After all objections have been received and considered, the Council will at the meeting or at any adjournment thereof, take additional action for the issuance of the Bonds or will abandon the proposal to issue said Bonds. This notice is given by order of the City Council of the City of Iowa Ci as provided by Section 384.25 of the Code of Iowa. Dated this 7th day of March, 2022. s\Kellie Fruehling, City Clerk, City of Iowa City, State of Iowa (End of Notice) , Stathof Iowa, GCP-2 (To be published between: March 2, 2022 and March 11, 2022) Notice of meeting of the City Council of the City of Iowa City, State of Iowa, on the matter of the proposed issuance of not to exceed $700,000 General Obligation Bonds of the City (for general corporate purposes), and the hearing on the issuance thereof Public notice is hereby given that the City Council of the City of Iowa City, State of Iowa, will hold a public hearing on the 22nd day of March, 2022, at 6:00 P.M., at 28 S. Linn St, The Center, Iowa City, Iowa, at which meeting the Council proposes to take additional action for the issuance of not to exceed $700,000 General Obligation Bonds, for general corporate purposes, bearing interest at a rate of not to exceed nine (9) per centum per annum, the Bonds to be issued to provide funds to pay the costs of improvements to and equipping of the Senior Center facility. At any time before the date of the meeting, a petition, asking that the question of issuing such Bonds be submitted to the legal voters of the City, may be filed with the Clerk of the City in the manner provided by Section 362.4 of the Code of Iowa, pursuant to the provisions of Section 384.26 of the Code of Iowa. At the above meeting the Council shall receive oral or written objections from any resident or property owner of the City to the above action. After all objections have been received and considered, the Council will at the meeting or at any adjournment thereof, take additional action for the issuance of the Bonds or will abandon the proposal to issue said Bonds. This notice is given by order of the City Council of the City of Iowa City, State of Iowa, as provided by Section 384.26 of the Code of Iowa. Dated this 7th day of March, 2022. s\Kellie Fruehling, City Clerk, City of Iowa City, State of Iowa (End of Notice) N -n rn N GCP-3 (To be published between: March 2, 2022 and March 11, 2022) Notice of meeting of the City Council of the City of Iowa City, State of Iowa, on the matter of the proposed issuance of not to exceed $700,000 General Obligation Bonds of the City (for general corporate purposes), and the hearing on the issuance thereof Public notice is hereby given that the City Council of the City of Iowa City, State of Iowa, will hold a public hearing on the 22nd day of March, 2022, at 6:00 P.M., at 28 S. Linn St, The Center, Iowa City, Iowa, at which meeting the Council proposes to take additional action for the issuance of not to exceed $700,000 General Obligation Bonds, for general corporate purposes, bearing interest at a rate of not to exceed nine (9) per centum per annum, the Bonds to be issued to provide funds to pay costs of the acquisition, renovation, reconstruction and equipping of City Hall and the fire station; and costs of the acquisition, installation, improving and equipping of city facilities and buildings, including building automation systems. At any time before the date of the meeting, a petition, asking that the question of issuing such Bonds be submitted to the legal voters of the City, may be filed with the Clerk of the City in the manner provided by Section 362.4 of the Code of Iowa, pursuant to the provisions of Section 384.26 of the Code of Iowa. At the above meeting the Council shall receive oral or written objections from any resident or property owner of the City to the above action. After all objections have been received and considered, the Council will at the meeting or at any adjournment thereof, take additional action for the issuance of the Bonds or will abandon the proposal to issue said Bonds. This notice is given by order of the City Council of the City of Iowa City, State of Iowa, as provided by Section 384.26 of the Code of Iowa. Dated this 7th day of March, 2022. s\Kellie Fruehling, City Clerk, City of Iowa City, State of Iowa (End of Notice) Item: 10., 11., 12. & 13. STAFF PRESENTATION TO FOLLOW: 1 r i cm; tia tui , + mom Iii II CITY OF IOWA CITY 410 East Washington Street Iowa City, Iowa 52240-1826 (319) 356-5000 (3I9) 356-5009 FAX www.icgoV.org city of Iowa city 2022 G.O. Bond Issue $10,300,000 Nicole Davies, Finance Director 2022 G.O. Bonds Time Line March 1 March 22 April 12 April 19 May 3 May 17 June 1 Set hearing for bond purposes Three public hearings on bond purposes; Pre -levy authorization resolution Moody's bond rating call Resolutions to direct advertisement for sale of bonds and to approve Official Statement Receive and open bids Resolution authorizing issuance of bonds Close of sale of bonds Nicole Davies, Finance Director 2022 G.O. Bonds Projects Chadek Green Park Playground & Shelter Court Hill Park Playground & Shelter Replacement Rochester Avenue Reconstruction Fairchild Street Reconstruction Senior Center Exterior Improvements* City Hall — Other Projects* Upgrade Building BAS Controls* Fire Station #1 Apparatus Bay Slab Reconstruction* * General Corporate purpose $ 450,000 450,000 6,350,000 1,450,000 700,000 400,000 205,000 95,000 Nicole Davies, Finance Director 2022 G.O. Bonds Included in 2022 Amended Budget and Five -Year Capital Improvement Program Incorporated into current and future tax levy projections Sold in competitive bidding process Items 10 through 14 on tonight's agenda Nicole Davies, Finance Director 2022 G.O. Bonds Questions? Nicole Davies, Finance Director STAFF PRESENTATION CONCLUDED 1 1 imospaqr CITY OF IOWA CITY 4 1 0 East Washington Strect Iowa City, Iowa 52240-1826 (319) 356-5000 (319) 356-5009 FAX www.icgov.org I�. NOTICE OF PUBLIC HEARING - AMENDMENT OF CURRENT BUDGET IOWA CITY Fiscal Year July 1, 2021 - June 30, 2022 The City of IOWA CITY will conduct a public hearing for the purpose of amending the current budget for fiscal year ending June 30, 2022 Meeting Date/Time: 3/22/2022 06:00 PM Contact: Kellie Fruehling Phone: (31) 356-5050 Meeting Location: 28 S. Linn Street, The Center There will be no increase in taxes. Any residents or taxpayers will be heard for or against the proposed amendment at the time and place specified above. A detailed statement of: additional receipts, cash balances on hand at the close of the preceding fiscal year, and proposed disbursements, both past and anticipated, will be available at the hearing. REVENUES & OTHER FINANCING SOURCES Total Budget as Certified or Last Amended Current Amendment Total Budget After Current Amendment Taxes Levied on Property 1 66,911,637 0 66,911,637 Less: Uncollected Delinquent Taxes - Levy Year 2 0 0 0 Net Current Property Tax 3 66,911,637 0 66,911,637 Delinquent Property Tax Revenue 4 0 0 0 TIF Revenues 5 4,125,528 -142,188 3,983,340 Other City Taxes 6 2,706,502 0 2,706,502 Licenses & Permits 7 _ _1,993,570 0 1,993,570 Use of Money & Property 8 2,748,956 0 2,748,956 Intergovernmental 9 50,118,206 12,741,280 62,859,486 Charges for Service 10 49,896,555 0 49,896,555 Special Assessments 11 290 0 290 Miscellaneous 12 3,515,916 91,400 3,607,316 Other Financing Sources 13 13,209,742 -2,050,000 11,159,742 Transfers In 14 44,243,456 9,123,331 53,366,787 Total Revenues & Other Sources 15 239,470,358 19,763,823 259,234,181 EXPENDITURES & OTHER FINANCING USES Public Safety 16 28,880,621 43,276 28,923,897 Public Works 17 11,534,982 99,600 11,634,582 Health and Social Services 18 660,250 0 660,250 Culture and Recreation 19 16,781,281 0 16,781,281 Community and Economic Development 20 12,864,919 20,441,237 33,306,156 General Govemment 21 13,207,141 37,536 13,244,677 Debt Service 22 13,084,764 106,500 13,191,264 Capital Projects 23 54,034,592 60,000 54,094,592 Total Government Activities Expenditures 24 151,048,550 20,788,149 171,836,699 Business Type/Enterprise 25 77,600,358 4,666,868 82,267,226 Total Gov Activities & Business Expenditures 26 228,648,908 25,455,017 254,103,925 Tranfers Out 27 44,243,456 9,123,331 53,366,787 Total Expenditures/Transfers Out 28 272,892,364 34,578,348 307,470,712 Excess Revenues & Other Sources Over (Under) Expenditures/Transfers Out 29 -33,422,006 -14,814,525 -48,236,531 Beginning Fund Balance July 1, 2021 30 142,049,779 64,714,802 206,764,581 Ending Fund Balance June 30, 2022 31 108,627,773 49,900,277 158,528,050 Explanation of Changes: Amendments include the review and modification of the 2022 CIP plan, the receipt of the second half of the American Rescue Plan Act monies and corresponding expenditures, an adjustment to interest expense within debt service, and various other smaller amendments. Additional detail is on file and available from the Iowa City Finance Department. 02/17/2022 09:12 AM Paae 1 of 1 is, 2/17/2022 Local Govemment Property Valuation System NOTICE OF PUBLIC HEARING — PROPOSED BUDGET Fiscal Year -July 1, 2022 - June 30, 2023 City of: IOWA CITY The City Council will conduct a public hearing on the proposed Budget at: 28 S. Linn Street, The Center Meeting Date: 322/2022 Meeting Time: 06:00 PM At the public hearing any resident or taxpayer may present objections to, or arguments in favor of, any part of the proposed budget. This notice represents a summary of the supporting detail of revenues and expenditures on file with the City Clerk and County Auditor. City budgets are subject to protest. If protest petition requirements are met, the State Appeal Board will hold a local hearing. For more information, consult littps://dom.kma.gov/local-gov-appeals. The Budget Estimate Summary of proposed receipts and expenditures is shown below. Copies of the the detailed proposed Budget may be obtained or viewed at the offices of the Mayor, City Clerk, and at the Library. The estimated Total tax levy rate per 81000 valuation on regular property 15.63305 The estimated tax levy rate per 81000 valuation on Agricultural land is 3.00375 At the public hearing, any resident or taxpayer may present objections to, or arguments in favor of, any part of the proposed budget. Phone Number City Clerk/Finance Officer's NAME (319) 356-5050 Kellie Fruehling Budget Fl 2023 Re -estimated F1' 2022 Actual FY 2021 Revenues & Other Financing Sources Taxes Levied on Property 1 66,474,472 66,911,637 65,796,458 Less: Uncollected Property Taxes -Levy Year 2 0 0 0 Net Current Property Taxes 3 66,474,472 66,911,637 65,796,458 Delinquent Property Taxes 4 0 0 984,539 TIF Revenues 5 4,113,733 3,983,340 2,637,854 Other City Taxes 6 2,879,845 2,706,502 2,638,863 Licenses & Permits 7 2,010,130 1,993,570 2,552,515 Use of Money and Property 8 2,598,596 2,748,956 2,068,708 Intergovernmental 9 32,540,646 62,859,486 46,651,191 Charges for Fees & Service 10 50,693,274 49,896,555 46,088,053 Special Assessments 11 1,000 290 0 Miscellaneous 12 3,434,391 3,607,316 3,279,388 Other Financing Sources 13 28,084,168 11,159,742 12,840,361 Transfers In 14 48,821,852 53,366,787 49,044,374 Total Revenues and Other Sources 15 241,652,107 259,234,181 234,582,304 Expenditures & Other Financing Uses Public Safety 16 29,232,715 28,923,897 26,699,609 Public Works 17 12,026,575 11,634,582 10,743,050 Health and Social Services 18 680,058 660,250 571,000 Culture and Recreation 19 16,828,327 16,781,281 13,605,713 Community and Economic Development 20 9,454,723 33,306,156 8,240,426 General Govemment 21 12,142,950 13,244,677 9,585,285 Debt Service 22 12,952,813 13,191,264 14,652,318 Capital Projects 23 19,765,470 54,094,592 18,333,525 Total Government Activities Expenditures 24 113,083,631 171,836,699 102,430,926 Business Type / Enterprises 25 81,515,864 82,267,226 56,757,974 Total ALL Expenditures 26 194,599,495 254,103,925 159,188,900 Transfers Out 27 48,821,852 53,366,787 49,044,374 Total ALL Expenditures/Transfers Out 28 243,421,347 307,470,712 208,233,274 Excess Revenues & Other Sources Over (Under) Expenditures/Transfers Out 29 -1,769,240 -48,236,531 26,349,030 Beginning Fund Balance July 1 30 158,528,050 206,764,581 180,415,551 Ending Fund Balance June 30 31 156,758,810 158,528,050 206,764,581 https://dom-localgov.iowa.gov/budget-renderer'id=10724 0.0 to CJI G 1/2 Item: 14. & 15. STAFF PRESENTATION TO FOLLOW: 1 r i cm; tia tui , + mom Iii II CITY OF IOWA CITY 410 East Washington Street Iowa City, Iowa 52240-1826 (319) 356-5000 (3I9) 356-5009 FAX www.icgoV.org � r is Att417. MIM 'M .44 71 ill I Ihi it * 1 1.741147010 = I tiallr CITY0FI0wACFFY UNESCO CITY OF LITERATURE FY2023 BUDGET SUMMARY Fiscal Year 2022 Budget Amendment Second budget amendment for this fiscal year. Process ran congruently with the FY2023 Budget process. Amendments include Capital Improvement Project budget adjustments to align with five-year CIP plan. Inclusion of American Rescue Plan Act revenues and expenditures. Other small amendment items. Overall total impact to Fund Balance is a decrease of $14,814,525. Covered through excess fund balances and bonds. This will not affect property tax levies, or the property tax rate. Budget Review & Adoption Schedule September 21: Council Work Session on Priorities January 8: Operating Budget Review January 12: Capital Improvement Plan Review Operating Budget Review February 1: Setting of Public Hearing on Proposed Maximum Property Tax February 15: Public Hearing on Budget / Adopts Resolution Setting Max Property Tax March l: Setting of Public Hearing on Budget March 22: Public Hearing on Budget / Adoption of Budget March 31: Certification with County Auditor 1 Stress Factors on our Budget Commercial backfill being phased out by the State of Iowa Multi -residential taxability to drop precipitously Stagnation in taxable property growth Residential rollback dropped sharply (taxable percentage of home value) Significant volatilit1 y in key expense lines lb Strategic Initiatives funded in FY2023 At $1 million General Fund contribution towards affordable housing efforts 0114 Allocated $613,108 to support community non-profit agencies vlodest investments in personnel to enhance and maintain key service levels Fa Aggressively funds Climate Action and Adaptation efforts Air AIE Invests in major road improvement projects, continues implementation of bicycle, parks, and natural areas master plans Continues preparation for future critical facility needs The FY2023 budget... Continues to reduce tax levy rate, bringing rate more in line with other large Iowa cities The strong foundation of building stronger reserves has helped lessen the blow of statewide reforms which has had disproportionate stress on the budgets of growing communities No new transit, water, sewer, storm water or parking fee increases. (However, we are increasing our refuse fee rate an additional $3.00 per month). Property Tax Rate Trend Taxable Value (in millions) $4,500 $4,000 $3,500 $3,000 $2,500 $2,000 $1,500 $1,000 $500 $0 Property Tax Rate vs. Valuations FY12 FY13 FY14 FY15 6 17 FY18 FY19 FY20 FY21 Tax Value (millions) $2,848$2,960$3,036$3,137$3,183$3,421$3,543$3,745$3,923$4,258$4,396 Val % Change 3.27% 3.93% 2.56% 3.32% 1.46% 7.50% 3.55% 5.72% 4.74% 8.54% 3.24% Ptax Rate 17.84217.26916.80516.70516.65116.58316.33316.18315.83315.77315.673 Rate % Change 0.48% -3.21%-2.69%-0.60%-0.32%-0.4170-1.51%-0.92%-2.16%-0.38%-1.01%- FY 1 FY FY22 IP FY23 $4,385 -0.26% 15.633 0.26% 18 17.5 17 16.5 16 15.5 15 Property Tax Rate *FY2022 Proposed A icialArigttl ate AM BO I fillir CITY OF IOWA CITY UNESCO CITY OF LITERATURE Questions Comments STAFF PRESENTATION CONCLUDED 1 1 imospaqr CITY OF IOWA CITY 4 1 0 East Washington Strect Iowa City, Iowa 52240-1826 (319) 356-5000 (319) 356-5009 FAX www.icgov.org