Grain Valley News
  • Home
  • About
    • Submit Your News
    • Contact
  • News
    • Voter Resources
    • Online Puzzles
  • Community
    • Events Calendar
    • Kindness Awards
    • 2023 Garage Sale Directory
    • Parade
  • Job Board
  • Best of Grain Valley
  • Support
    • Advertise
    • Become A Sustaining Member
  • Business Directory Submission Form
  • Home
  • About
    • Submit Your News
    • Contact
  • News
    • Voter Resources
    • Online Puzzles
  • Community
    • Events Calendar
    • Kindness Awards
    • 2023 Garage Sale Directory
    • Parade
  • Job Board
  • Best of Grain Valley
  • Support
    • Advertise
    • Become A Sustaining Member
  • Business Directory Submission Form








​news

Board of Aldermen Hears Facilities Funding Plan Options

8/29/2019

 
​     Representatives from Baker Tilly, a tax advisory and assurance firm returned to present to the Grain Valley Board of Alderman upon their request on Monday, August 26th. The purpose was to provide tax analysis on two different scenarios regarding tax rates. The first column presented to the Board was the current flat levy showing the total taxes that were collected for this year at the rate of 1.6294. The second column was an eight-cent rollback of the current tax levy for 2019 that the board had requested more information on during the original presentation by Baker Tilly during their August 12th meeting.
     The two choices were presented to the Board in an effort to determine what route they wanted to take for a debt service payment to be made in 2020. The board would be able to make a payment of $1.3 million if they choose to keep the current flat levy rate. The other option of an eight-cent rollback of the current tax levy would allow for a $1.1 million payment. The escrow payment would be for paying down debt.
     The goal of the Board was to determine how to proceed as financial stewards to best prepare funding for the planned municipal complex at Sni-A-Bar Farms on Buckner-Tarsney Road. Consideration was being given to determine which plan would be best for the determined bonding capacity the city possesses if they approach the community next year with a no tax increase bond to fund the planned Sni-A-Bar Farms facility.
     An eight-cent decrease in the levy rate would reduce projected bonding capacity for the planned facilities to just under five million dollars. Baker Tilly stated that they understood from city staff that funding for the facilities could be between the $40 to $60 million range. The spokesman for Baker Tilly indicated the city would be able to pay for approximately half of the project with current levy rate and less than half with an eight-cent rollback.
     Mayor Mike Todd, Finance Director Steven Craig, and Deputy City Administrator Ken Murphy all participated in discussion with the Board on what action would be feasible. Mayor Todd offered that his opinion was some type of tax decrease would be appropriate. That would allow for city leadership to say to voters that the tax rate had been decreased two years in a row (with a ten-cent tax decrease the prior year).
     Craig asked the Board to weigh the cost of the proposed facilities project being significant if a decrease in rate was proposed. The reasoning being that a decrease in rate would result in less money being available for the facilities project that Craig stated the Board wanted to be the best available for the citizens of Grain Valley.
     Murphy cautioned that if there was not enough bonding capacity then the city would have to start looking at phasing. That the initial phase would be cheaper, but the overall project cost would go up.
     Todd proposed after discussion that a three-cent decrease be considered. City Administrator Ryan Hunt stated the recommendation would be brought before the board at its next regularly scheduled meeting.
     In other news, Hunt was recognized for receiving his ten-year service pin with the City of Grain Valley on his August 17th work anniversary.
     The next Board of Aldermen meeting will be held at 7:00 pm on Monday, September 9th at City Hall.
 
Picture

Comments are closed.

    RSS Feed

    Categories

    All
    Burton Kelso
    Business
    Cathy Allie
    Celebrations & Transitions
    Census
    City Of Grain Valley
    Columnists
    Community Profile
    Covid19
    Covid-19
    Economic-development
    Education
    Elections
    Financial-health
    Fitness
    Food Inspections
    Good News
    Good-news
    Grain-valley-assistance-council
    Grain Valley Fair
    Grain Valley Historical Society
    Grain-valley-partnership
    Grain Valley Schools
    Health And Fitness
    Health-and-fitness
    Home And Garden
    Jackson County
    Kindness Awards
    Ld
    Local News
    Looking Back
    Lorne-meinershagen
    Missouri House Of Representatives
    Missouri Senate
    Musings From The Middle
    Neighborhood View
    On-the-job
    Pets
    Police Blotter
    Quick-news
    Rdn
    Recreation
    Sally-whitaker
    Seniors
    Senior-send-off
    Sports
    State Of Missouri
    Technology
    Tracey-shaffer
    Transportation
    University Of Missouri Extension
    Waynes-world

    RSS Feed

    Archives

    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018

Grain Valley News

Grain Valley News is a free community news source published weekly online. 
(c) 2023 Grain Valley News

Contact Us

PO Box 2972
​Grain Valley MO 64029

Privacy Policy
Picture