Minneapolis Mayor R.T. Rybak this week proposed a 2012 budget that cuts spending and jobs to hold the city’s property tax levy steady while increasing debt issuance for street improvements.

Spending would rise by about 1% over the 2011 budget while 90 positions would be cut. To address the “slow deterioration of our streets,” Rybak proposed a 40% increase in the five-year capital plan that would bolster project spending by $57 million with a focus on arterial street improvements. The city would borrow to cover the projects.

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