08-01-85 Finance Comm MinutesAUGUST 1, 1985 FINANCE COMMITTEE 7:05 AM
Chairman Ruiz called the meeting to order. All councilmen were present
except Councilmen Nystul and Schindler. Also present were Mayor McDowell,
Clerk Halver, Mike Fraser, Ed Gallagher, Ken Hammer, and Roger Hopkins.
Clerk Halver reported he had adjusted the levy requirements to total 103.9
mills. He also said he had added 1,000 in the Comprehensive Insurance Fund
for uninsured losses.
Clerk Halver recommended the Griffin Park budget be put into a Trust Fund
since the property was originally donated to the city.
Councilman Manning presented
allocation:
Seal Coating Tennis Courts
Picnic Tables and Benches
Weed Eater
Lagoon Work
Total
the revised Parks Dept. Revenue Sharing
12,000
1,000
300
20.000
33,500
Chairman Ruiz opened discussion on the Tax Increment
Fund Budget.
The following budgets were approved:
Carryover projects:
Mall offsite improvements
628,000
Decorative street lights
100,000
728,000
Loans:
2nd Avenue West Professional Building
67,000
Haarr Bros.
70,000
137,000
Grants:
Library
12,700
Hockaday Center for the Arts (2 Years)
30,000
Trees
1,000
Fire Dept. Heating System cat walk
10,000
Old Fire Hall remodeling
53,000
City Hall Exterior
15,000
Fifth Avenue West - Center to Idaho
150,000
Westside Park Project
100,000
Parking lot purchase options
50,000
Fifth Ave West Reconstruction
138,525
560,225
Total Allocated
$
1,425,225
The Committee next discussed the Fifth Avenue West Project.
The estimated cost of the project is: $ 2,400,000
Proposed Funding:
Tax Increment Fund Bond
1,000,000
Tax Increment Fund Grant
138,000
Sewer Fund Cash
500,000
Sewer Revenue Bond
600,000
Storm Sewer Bond
354,000
Water Fund Cash
324,000
2,592,000
Mike Fraser is to provide more detail early next week.
Ken Hammer reported the Sewer Budget will also have to fund the Center Street
trunk line for 100,000 and First Alley West for 112,000.
Clerk Halver is to prepare the Storm Sewer Assessment figures.
Adjourned 10:36 am.
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