HomeMy WebLinkAbout2016-03-21 Finance Committee Minutes11111! 1 =15FTINI IWAIJUIR90044-II&IM4 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 r i 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 I approximateSem The City will maintain the final maturity date of pteb 'I 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. P-3 kro =-