The Mercer Island City Council will meet on Monday, Dec. 3 at City Hall to approve the city's biennial 2013-2014 budget at 7 p.m. tonight, setting municipal priorities for next two years.
City Manager Rich Conrad, City Finance Director Chip Corder and other city officials will present the final draft of a general fund budget totalling $49,636,834 for each of the next two years, and a total budget (including all dedicated city funds) of $112,147,672 in 2013 and $110,035,873 in 2014.
The City Council has already approved a series of tax and fee increases and delayed several capital projects for the next two years, and voters have also approved another tax increase for the construction of a new Fire Station 92.
The council will also consider and approve an ordinance that will authorize borrowing $5,218,000 through the issuance of bonds to pay for the new station and fire truck. The council has been asked to also consider consolidating the city's outstanding debt into the bond from the purchase of land for the Mercer Island Community & Event Center, which would raise the debt authorization to $7,018,000 — and save the city money in the long run.
The council will also consider an ordinance to authorize state-mandated changes to local Business & Occupation tax regulation, receive a financial report on the city's third quarter, and discuss tenant relocation issues for the True Value/Legacy site on 76th Ave. SE in Town Center.
Click on the PDF of the agenda (to the right) to review the items up for discussion and decision.
