HomeMy WebLinkAbout2016-03-21 Finance Committee Minutes11111! 1
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Councilors in Attendance: Durgin, Sprague, Nealley, Perry, Baldacci,
Faircloth, Nichols, Graham
1. Greater Bangor Solarize Program
Karen Marysclaughter reviewed a proposal to have the City of Bangor join a
Greater Bangor Solarize program. This program is modeled after others from
around the country that is a collective purchasing program for homes, small
businesses, farms and community projects. The goal being to promote the
installation of distributed solar power by bringing together interested home and
business owners to contract for solar installation at a reduced rate. She is in
similar discussions with the City of Brewer, Towns of Hampden, Veazie and
Orono as well as Eastern Maine Development Corporation. Her request being
that Bangor would utilize its means of contact to communicate the opportunity
to interested citizens, involvement in the RFP issuance process and one or more
informational meetings.
Councilors expressed interest in this type of program but showed concerns
about current and proposed changes to PUC regulations that may impact solar
users as well as those tied to the grid.
Councilors indicated their desire to learn more and moved that this item be
revisited at the next Finance Committee meeting. The motion was seconded
and passed unanimously.
2. Bangor Efficiency Program
Council Chair Faircloth reviewed a program he developed based on feedback
from prior Committee meetings and additional information provided by staff.
The proposal is to utilize $140,000 in FY 16 savings to fund an efficiency
program that would provide incentives in addition to those provided by
Efficiency Maine with the goal being to increase participation. Thereby
achieving the following goals; help Bangor residents lower their winter heating
bills; modernize Bangor's old housing stock thus making Bangor a more
attractive place to live; help decrease Bangor's carbon footprint in the face of
global warming.
Councilors discussed the program and proposed language at length. There
were a variety of questions and most were supportive of such a program.
Councilor Nealley expressed concern as to whether or not this was an
appropriate use of public funds and noted his desire to consider this as part of
the upcoming budget process.
A motion was made to direct staff to draft a Council Order to Transfer $140,000
to a non -lapsing account to fund this program and to return with the order at
the next Finance Committee meeting. The motion was doubted. The motion
passed by a vote of 4-1, with Councilors Durgin, Sprague, Perry, Balclacci in
favor and Councilor Nealley opposed.
Staff indicated that a draft of the proposal as well as list of questions raised
would be distributed to the Council in order to make any necessary revisions to
the program language.
3. Ordinance Amendment — Schedule of Fees
This proposed Ordinance Amendment would assemble all fees of any sorts in
one section of the Code. The Amendment does not change any fees and is
merely a housekeeping action. 11
Motion made and seconded to recommend passage to City Council. Motion
passed unanimously.
4. Request to Write off Taxes
When the use of the waterfront triggered an assessment for taxes, the Assess
assessed the City for taxes. As there was no provision within the existin
agreement with Waterfront Concerts, the Assessor could not assess that enti
as party in possession. The City Solicitor has determined that under Sta
statute, when no provision exists within the agreement that the parties are
split the taxes 50/50. Waterfront Concerts was unaware of the 2015 and 2011D
tax bills. Staff recommendation is to waive the interest and fees and acce
50% as payment in full of Waterfront Concerts share and to write the City
share off to the overlay account. 11
Motion made and seconded to approve staff recommendation. Motion passed
unanimously.
S. Council Order 16-104Authorizing the Issuance of $1,050,000 in
General Obligation Bonds
The attached Order would authorize the issuance of up to $1,050,000 in
general obligation bonds to fund improvements to the City's building at 689
Maine Avenue that Wayfair is leasing from the City. Building improvements
include; roof replacement, relocation of and repairs to sewer service, parking
lot improvements, window sealing, heating controls and a tenant improvemen!
allowance.
Motion made and seconded to recommend passage to City Council. Motion
passed unanimously.
6. Council Order 16-105,, Authorizing the Refinancing of $1,555,000 in
General Obligation Bonds
The attached Order would authorize the issuance of $1,555,000 in gener
obligation bonds to refinance outstanding bonds from 2007. The City's gener
obligation bonds typically include a call feature 10 years into their life. The Ci
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will issue bonds in April to "call" $1,555,000 in outstanding 2007 bonds with a
interest rate of 4%. The anticipated interest rate for the new debt will b
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approximateSem
The City will maintain the final maturity date of pteb
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2026, but overall interest costs will decrease by an estimated $169,000 ov
the next 10 years.
Motion made and seconded to recommend passage to City Council. Motion
passed unanimously.
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