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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. 0