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TUESDAY, JANUARY 24, 1989 <br /> <br />Commissioner of the Revenue J. Ronnie Minter informed Council that, as the <br />result of the 1988 reassessment of taxable real estate in the City, the taxable <br />value thereof is now $415,543,250.00, representing an average increase of 9.5% <br />over the 1986 valuation of $379,399,050.00, or a valuation increase'of <br />$36,144,200.00 which, at the City's current real estate tax rate of 76 cents <br />(per $100.00'of taxable valuation), will yield an additional $27,469.59'in <br />local real estate taxes in 1989-90, subject to any adjustments that might be <br />made by the City's Equalization Board. The Commissioner noted, too, that the <br />amount of increase (as reported), if the present tax rate remains in effect, <br />will not require the City Council to hold a public hearing thereon. <br /> <br />Pending receipt of the findings by City Manager Brown as to the possibility of <br />the City's allowing double-width "mobile" homes to be located in the City, <br />Council deferred consideration of "input" received by Council at its special <br />meeting held January 17, 1989, on ways and means of making affordable housing <br />available in the City. <br /> <br />Council acknowledged receipt of the following staff reports: <br /> <br />Receipt of a check in the amount of $17,219.00, from the <br />Commonwealth Of Virginia and its Health Department, <br />representing a refund against the City's budgeted share of <br />the cost of operating the Henry-Martinsville Health <br />Department for 1987-88; <br /> <br />B. Financial report for the period ended December 31, 1988; and <br /> <br />Status of an Order issued' by the Federal Energy Regulatory <br />Commission which, on the assertion that the City's <br />hydro-power facility (dam) on Smith River has a high hazard <br />potential and that the Smith River is a navigable stream, <br />will require the City to obtain a license from the Energy ' <br />Commission to continue operating the facility and, in <br />connection therefor, to conduct a full-fledged Environmental <br />Impact Study (estimated to cost the City between $200,000.00 <br />and $300,000.00) and to develop and file an Emergency Action <br /> <br />* Tax.yield should read "$274,695.92". <br /> <br /> <br />