Item Coversheet

Regional Railroad Authority Board Action Request
17-HCRRA-0042

Item Description:
Set the 2018 HCRRA maximum property tax levy and 2018 HCRRA proposed budget
Resolution:

BE IT RESOLVED, that the Hennepin County Regional Railroad Authority (HCRRA) sets the maximum property tax levy for year 2018 at $36,000,000 with a proposed budget of $109,136,156 and that the maximum property tax levy be certified to the County Auditor; and

BE IT FURTHER RESOLVED, that pursuant to Minnesota Statutes 275.065, Subd. 3(i), the proposed 2018 levy and budget for the HCRRA shall be discussed at the Hennepin County's Truth-In-Taxation Hearing to be held at 6:00 p.m. on Tuesday, November 28, 2017; and

BE IT FURTHER RESOLVED, that adoption of the HCRRA's final 2018 property tax levy and 2018 budget shall take place at the HCRRA Board Meeting immediately following the 1:30 p.m. Board of Hennepin County Commissioners Meeting to be held on, Tuesday, December 12, 2017, in the Commissioners' Board Room.

Background:

History: The Hennepin County Regional Railroad Authority (HCRRA) has the authority to levy a tax on taxable market value in the county. Pursuant to state statute, the HCRRA must approve a maximum property tax levy and a proposed budget and for 2018 by September 30, 2017.

 

The proposed 2018 HCRRA budget is $109,136,156 and the maximum tax levy is $36,000,000.  While the final approved budget may be higher than the one proposed, the final tax levy adopted in December cannot exceed the proposed tax levy which is adopted today.

 

The proposed 2018 Hennepin County Regional Railroad Authority (HCRRA) budget supports the following activities:

  • Southwest Light Rail Transit (approximately $58.1 million)
  • Bottineau Light Rail Transit (approximately $29.5 million)
  • Orange Line Bus Rapid Transit (approximately $4.1 million)
  • Debt Service (approximately $8.3 million)

 

The 2018 HCRRA budget also includes approximately $6.5 million for maintenance of the 55 miles of corridor, staff support for transitways, and oversight of HCRRA's infrastructure assets and operational needs.

 

It is recommended that the HCRRA levy for 2018 be set at $36 million.


Recommendation from County Administrator: Recommend Approval