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City Council Minutes 1987 08-27-87 (public hearing) MINUTES OF THE PUBLIC HEARING BEFORE THE CITY COUNCIL OF THE UNITED CITY OF THE VILLAGE OF YORKVILLE, KENDALL COUNTY, ILLINOIS, HELD AT CITY HALL ON AUGUST 27, 1987. RE: Truth & Taxation - 1987-88 City of Yorkville Tax Levy Mayor Davidson called the public hearing to order at 7:36 P.M. Present were: Mayor Davidson City Treasurer Huston Clerk Erickson Alderman PFister Alderman Small Alderman Jahp Alderman Hayden Alderman Radke Attorney Kramer Roberta Peterson Beacon News Rep. Kathy Farren (Kendall Co. Record) Alderman Small stated there is an increas of 29.68% in the current levy, which requires a public hearing, that was posted 3 weeks in the Kendall County Record. The 86-87 levy amount was $218,429.00, and the 87/88 levy is $283.250.00. Reasons behind the increase are decreased revenues to the city resulting from a loss of approximately $32.000 from the cut Revenue Sharing program; sales tax dropping, as well as refunding a monthly amount to Kendall County due to over payment to the City of Yorkville, resulting in an approximate $20,000 reduction in a 12 month period; City health & liability insurances increased dramatically. Alderman Small stated that the change in the asses valuation should cushion the losses somewhat. Alderman Small stated that the average homeowners tax bill for City tax was down in 1987. Mrs. Peterson expressed concern of what will happen if the assessed valuation does increase, regarding the increase to homeowners on their tax bill. Mrs. Peterson also asked if the City Council felt the Beecher Building was an albatross? Alderman Haydent responded that costs have been cut back regarding the Beecher Building. Mayor Davidson responded that any government building is going to cost the taxpayers, and although the Beecher Building is not an asset dollarwise in expense, it is definitely a community asset. Alderman Fahrlander arrived at 7:47 p.m. Alderman Radke brought up the subject of the possiblilty of purchasing power outside of Commonwealth Edison. Mayor Davidson reported at that time that he And Alderman Pfister have already met with City of Geneva officials regarding that very matter. Their electrical operator will be getting more details to Mayor Davidson, but the estimate of electrical costs to the residents of Yorkville would be about half, altho the City would have the initial outlay of equipment, and changover. Alderman PFister stated the city could actually own their own utility when completed. Representative from the Aurora Beacon News asked of the increase of 20 new homes in Yorkville over the past year would increase the assessed valuation of the City. Mayor Davidson responded that it would, and it would also increase the assessed valuation of the homes adjacent to the new homes. Alderman Pfister moved to close the Public Hearing, seconded by Alderman Small. 7:59 P.M. City Clerk