The Atlantic City Council has a full agenda for their meeting 5:30-p.m., Wednesday, at City Hall. The meeting includes public hearings on various matters, followed by resolutions on those issues. The first hearing is with regard to Adoption of the Fiscal Year 2019 Budget for the City of Atlantic. The budget amounts to nearly $12.5-million, which is a reduction of a little more than $1.8-million over last year. It also calls for an increase in the tax levy of 2.87%, to $16.86 per $1,000 assessed valuation. The levy will then be frozen for the FY 2020 and 2021 tax years. Following the hearing, the Council will act on approving a resolution adopting the FY 2019 Budget.

A Public Hearing is also scheduled with regard to Adopting the Proposed FY 2019 Ten-Year Capital Improvement Plan (CIP). City Administrator John Lund said City Department Heads began in 2016 with a five-year plan. This past Fall, they increased their planning horizon to 10-years, which Lund says is essential as the City reviews its long-term debt issuance, debt capacity and tax rate. The public hearing will also be followed by a Resolution adopting the 10-year plan. Another Resolution before the Council is with regard to setting salaries for City of Atlantic appointed officers and employees, for the fiscal year beginning July 1st, 2018, through June 30th, 2019. City Administrator John Lund says the City will begin negotiations with both of its Unions this fall, but the Council will need to meet to discuss future wage growth for all personnel, because it has a multi-year implication on the city’s budgets.

Action is also expected on a Resolution “Designating Distribution of Sales Tax Revenues to various funds for specific purposes.” Lund says last year, the City made changes to the Local Option Sales Tax (LOST) allocation formula, for the first time in decades. Since then, the State’s sales tax receipts have come in short of forecasts, a situation that occurred in Atlantic, as well. He said in order top keep the budgets whole, an additional change for FY 2018 is required to ensure minimum fund balances are maintained. “FY 2019,” according to Lund, “will see major investment into the Schildberg Recreation Area. Further changes are needed to make this possible. However, this resolution,” he says, “states that we are returning to the original allocation formula with the FY 2020 budget.”

The Atlantic City Council will also act on a Resolution “In support of a Workforce Housing Tax Credit Benefit Application to be submitted to the Iowa Economic Development Authority by Ash Land Development, LLC, for the Atlantic Boose Affordable Housing Project.”  Local developer Marty Boose is pursuing the housing tax credit program, the application for which requires a resolution of support from the City, and a small contribution of $1,000 per unit. Boose anticipates two or three houses will be applied on the credit. The City will be able to absorb $2,000 -to $3,000, according to Lund.  The Council will also act on a Resolution setting the date for a public hearing on a proposal to enter into a General Obligation General Purpose Loan Agreement, and to Borrow money thereunder. The City is issuing $2.68-million in debt, and assuming $304, 181 in general corporate purpose debt. The FY 2018 Bond portion of the CIP would be used for Fire Station improvements, beautification projects, phase 2 of the Library remodel, and an incinerator for the Atlantic Animal Shelter.

The Council is also expected to act on approving an Engineering Agreement with Snyder and Associates, for the Beautification Project. The agreement would be paid for out of budgeted sales tax dollars in the LOST Progress Fund.