The General Fund tax levy, which may be used for any general purpose, is projected to generate nearly $6.2 million, or approximately $50,000 less than last year. The City also has a levy to support the debt service of the police building. This levy was approved by voters in 2010 and implemented in 2013 when a previous general obligation bond issue matured. This levy will generate $1.4 million which is higher than last year and will allow us to build a small reserve for this fund. In 2014 the City issued voter approved general obligation bonds, supported by property tax which will generate nearly $1.2 million, slightly more than last year.

08-22-17 BOA Minutes August 22, 2017 Page 4 of 8

The following rates are proposed to be levied for the 2017 calendar year (FY 2018 budget year), and all rates are per $100 of assessed valuation. Rates are also presented for the recent tax history and are listed under the calendar year for which the rates apply.

Property Category 2014 Tax Rate 2015 Tax Rate 2016 Tax Rate 2017 Tax Rate First Reading 2017 Rate Compared to 2016 Rate General Revenue

Residential $0.646 $0.614 $0.629 $0.571 $0.058 Decrease Commercial $0.717 $0.687 $0.792 $0.639 $0.152 Decrease Personal $0.707 $0.707 $0.707 $0.707 No Change General Obligation Debt

Residential $0.124 $0.129 $0.121 $0.141 $0.020 Increase Commercial $0.124 $0.129 $0.121 $0.141 $0.020 Increase Personal $0.124 $0.129 $0.121 $0.141 $0.020 Increase Police Building Debt Service

Residential $0.128 $0.122 $0.123 $0.113 $0.001 Decrease Commercial $0.128 $0.123 $0.124 $0.127 $0.003 Increase Personal $0.123 $0.123 $0.120 $0.123 $0.003 Increase

The schedule below provides the total rate, including the debt levies, for residential, commercial and personal property.

Property Category 2014 Total Tax Rate 2015 Total Tax Rate 2016 Total Tax Rate 2017 Tax Rate First Reading 2017 Rate Compared to 2016 Rate Residential $0.898 $0.865 $0.873 $0.825 $0.048 Decrease Commercial $0.969 $0.939 $1.037 $0.907 $0.130 Decrease Personal $0.954 $0.959 $0.948 $0.971 $0.023 Decrease

For a home valued at $700,000, it is expected that the homeowner would pay approximately $1,097 in property taxes for the City of Clayton portion only. Based on last year’s rate, the same homeowner would pay $64 less than last year, assuming the assessed value remained the same.

August 18, 2017.

August 18, 2017.

08-22-17 BOA Minutes August 22, 2017 Page 6 of 8

We believe the proposed budget maintains the extraordinary level and proficiency of service that has been expected by our residents and traditionally provided by the City. The Board of Aldermen has studied this proposed budget and the public has had opportunity for input. The attached ordinance approving the Fiscal Year 2018 Operating and Capital Improvements Budget is presented for first reading. When the budget is presented for final approval, as in past years we will provide a reconciliation of any changes since the proposed budget.

Recommended actions is to conduct a public hearing and have the first reading of the Fiscal Year 2018 Operating and Capital Improvements Budget as presented in the proposed budget.

Alderman Berger commended the staff on a job well done.

Mayor Sanger closed the public hearing.

Alderman Winings introduced Bill No. 6628, an ordinance to adopting the FY2018 Operating and Capital Improvement Budget to be read for the first time by title only. Alderman Boulton seconded.

City Attorney O’Keefe reads Bill No. 6628, an Ordinance Adopting an Annual Budget for Fiscal Year 2018 Commencing on October 1, 2017 and Appropriating Funds Pursuant Thereto for the first time by title only.

The motion passed unanimously on a voice vote.

A RESOLUTION TO AUTHORIZE THE SUBMITTAL OF A MUNICIPAL PARKS GRANT APPLICATION FOR THE ICE RINK IN SHAW PARK

City Manager Owens reported that Included in the FY 2018 and FY2019 capital budget is funding for the replacement of the Shaw Park Ice Rink. This new year-round multi-use facility will serve as an outdoor ice rink in the winter months, and be converted to a tennis and field facility the remainder of the year. This project will include the construction of a new building to serve the year-round needs of the site, a new Ice Rink as well as an enhanced park area and drop off for the facility. The City intends to apply for a two-year grant to help fund the rink itself.

Included in the Capital Budget is funding for this $7 million project; the majority of which will be funded through the issuance of bonds to be paid back through the Parks and Stormwater tax revenues. The City is eligible for up to $420,000 of grant funding for each of the next two years and will be applying for a multi-year grant to fund the installation of the skating surface and associated equipment. This component of the project has an estimated cost of $1,500,000 so this is a reasonable component to fund through the grant.

Recommendation is to approve the resolution authorizing submittal of the grant application for the Ice Rink in Shaw Park.

In response to Alderman Berkowitz’ question, City Manager Owens confirmed that the Board is required to approve some grant applications depending on the agency’s grant requirements.

In response to Alderman Harris’ question, Patty DeForrest stated that the source of the grant monies comes from certain sales tax through St. Louis County. She added that the Board approved resolution shows support of the proposed project.

Alderman Winings moved to approve Resolution No. 17-15, authorizing the submittal of a grant application for the Shaw Park Ice Rink. Alderman Boulton seconded.