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City weighing cost of country club

City weighing cost of country club

The Germantown Financial Advisory Commission met last week to review the capital improvements plan for the 2020 fiscal year.

During the meeting, City Administrator Patrick Lawton presented the proposed plan which includes 31 projects totaling a $24.4 million investment.

Fiscal year 2020 includes a $7.2 million investment in the Germantown Municipal School District and leverages $6.5 million in state funds for traffic improvements.

The plan, as presented, shows that under current conditions the city can achieve a sixth year out of the fiscal year 2018 tax increase, which was intended to last only five years. Following the presentation, the commission voted to recommend the plan move forward for review by the Board of Mayor and Aldermen.

Following the approval, the commission heard information related to the impact of the proposed purchase of the Germantown Country Club property, which was not included in the approved capital improvements program.

The first alternative included the CIP as presented and simply added the purchase of the country club property at the appraised value of $7.2 million. This alternative results in slight deficit spending beginning in fiscal year 2021.

A second alternative includes the country club purchase and proposes a dedicated parks master plan fee, intended to ensure investment in the recently approved parks master plan.

The proposed dedicated fee would generate approximately $2 million per year to be used specifically for investment in parks development and revitalization. The fee could take the form of an increase to the wheel tax ($60 per year per vehicle), an additional fee on water bills ($11.50 per month) or an 11-cent property tax increase (approximately $81.75 for a home valued at $300,000 or $163.50 for a home valued at $600,000).

The Financial Advisory Commission subcommittee will meet again to further discuss the possibility of purchasing the country club property and imposing a dedicated parks fee.

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