10-22-20 Impact Fee Advisory Committee MinutesIMPACT FEE ADVISORY COMMITTEE (IFAC)
MEETING MINUTES
Date: Thursday, October 22, 2020 4:04 — 5:12 P.M.
Location: City Hall Council Chambers
Attendees:
Board members
® Jeff Zauner (Chair)
® Sid Daoud ® Nancy Cunningham (zoom) ® Brandon Theis
Others Present:
® Susie Turner ® Terri Loudermilk ® Rick Wills, Finance Director
Jeff Zauner called the meeting to order at 4:04 PM
Approval of Minutes: Jeff asked for a motion to approve the City's minutes from November 25, 2019. Sid motioned
to approve minutes and Brandon seconded motion. All voted in favor to approve.
Public Comment: None.
Agenda Items: Rick Wills, City Finance Director presented a review of FY 19 & FY20 impact fee revenues,
expenditures, and debt service. Rick explained the City moved the individual impact fees
(police, fire, storm, water, and sewer) into their own funds in the City budget. This allows for
easier tracking of the funds and anyone can go online and review the impact fee budgets.
Discussion included the storage building for Police in the FY21 budget, total project cost and
amount to be financed. Talked about the Stormwater Regional Facilities project in the Storm
impact fee fund. Currently working on Property acquisition and easements, will bid in
January, start construction in the spring. The project will be funded with an SRF bond of
approximately 5.5 million. Reviewed the status of the growth -related projects in the Water
impact fee fund. Sanitary sewer and wastewater treatment impact fees are in the same fund,
but separate cash accounts. Westside interceptor is at substantial completion and came in
under budget. Reviewed all impact fee related debt. Refinanced several bonds in 2012 to
take advantage of the lower interest rates at the time. State Revolving Fund (SRF) will write
off $400,000 of the Westside Interceptor Bond once the project is completed. SRF received
a federal grant for sewer improvements that allowed for the $400,000 forgiveness on the bond.
Rick asked if the IFAC would like to receive quarterly reports on the impact fee funds.
Committee agreed that would be valuable information and would welcome that.
Old Business: None
New Business: January 2021, City will start process of updating the Police and Fire Impact Fee Report.
IFAC will meet after report has been compiled for review, potentially in March/April.
Jeff adjourned the meeting at 5:12 P.M.
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