Commercial property bring in more revenue, is the city focusing on them over residential apartment buildings?

That is not necessarily true. While commercial property does pay a higher tax rate, commercial property does not generally develop at the density of new multifamily housing, so the overall value of commercial property is less than multifamily development, resulting in a lower taxable value. There are exceptions, specifically class A office buildings such as Excelsior Crossings, but the office market is not driving new class A office development today – or in the foreseeable future.

The majority of the City’s redevelopment sites are located near the Green Line Stations and have been guided for a variety of higher density development, including commercial and housing. The City of Hopkins would like to see a mix of jobs and housing available near the stations, but the market has to be there to support development.

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1. How many departments prepare a budget?
2. Where do multi-use paths fall within the budget and can that be shown as its own line item?
3. What opportunities will there be to comment on the preliminary budget after it is approved in September?
4. Why does the Truth in Taxation hearing occur so late in the budget process?
5. Does the city use a top-down or bottom-up budget process?
6. Do departments receive any instructions on how to prepare budgets? Who set the instructions?
7. Did or could you consider a Fiscal Advisory Committee made up of residents?
8. When will the 2020 Budget document be posted online?
9. When do you plan to update the Financial Management plan for the next five years?
10. Does the Hopkins compare itself with other Cities?
11. Why does the City issue debt?
12. Will revenue considerations that affect decisions on the upcoming zoning changes be made?
13. Commercial property bring in more revenue, is the city focusing on them over residential apartment buildings?
14. What is the outcome of the Moline parking ramp settlement? How does it affect the budget? What documents are available online?