HomeMy WebLinkAbout2016-12-05 Finance Committee MinutesFINANCE COMMITTEE MINUTES
December 5, 2016
(Immediately Following Government Operations)
Councilors in Attendance: Tremble, Weston, Faircloth, Baldacci, Nichols, Sprague,
Nealley, Graham, Perry
Staff in Attendance: Cyr, Conlow, Higgins, Nadeau, Rudzinski, Theriault, Swann,
Imbriaco, Nicklas
1. Bids/Purchasing
a. Emergency Medical Billing & Collection — Fire — ComStar
Motion made and seconded to award contract. Motion passed unanimously.
b. Hammond Street Utility Upgrades — Engineering — SE MacMillian -
$1,666,221
Motion made and seconded to recommend award of contract to City Council. Motion
passed unanimously.
c. Request to Waive Bid Process — Sewer — G&G Waterproofing
Motion made and seconded to waive the bid process. Motion passed unanimously.
2. Paid Parking Options at Cross Insurance Center Parking
Joe Imbriaco reviewed the current parking options and charging structure. Skip Black
reviewed his desire that non-residents pay for parking at the facility. Council discussed
the pros and cons of the current operation and potential changes. The Committee was
receptive to exploring parking charges further. This item will be reviewed further by the
Arena Advisory Committee with input from all interested parties and report back to the
Finance Committee with its' findings and any recommendations for the Council to
consider.
3. Agreement to Rehabilitate 262 Fern Street
Staff reviewed a proposal from a home owner and potential buyer to allow for the sale
of 262 Fern Street. As this property has matured tax liens, the City receive payment in
full but would hold the funds in escrow until the terms of the development are
completed. This is similar to other agreements the City has entered into to ensure that
a neglected property is rehabbed properly and in a timely manner. Motion made and
seconded to recommend agreement to City Council. Motion passed unanimously.
4. Sale of 177 Pearl Street
Staff provided additional information regarding the sale of this property, including its
current assessed value, the amount of taxes and charges written off. There was
concern that the offer was contingent upon further investment by the City. It was
requested that the deed include a covenant requiring the property to remain taxable.
Motion made and seconded to recommend sale to City Council. Motion passed.
5. Sale of 3 Charles Street
Staff provided additional information regarding the sale of this property, including the
amount of taxes and charges written off. As this property is owned by the City, the
assessed value is 0, Assessing will provide an estimate of value for the Council. It was
requested that the deed include a covenant requiring the property to remain taxable.
Motion made and seconded to recommend sale to City Council. Motion passed.
6. Update on Process for Disposition of City Acquired Property
Staff provided an overview of the Matured Lien Policy which identifies the criteria
considered when disposing of City acquired property. In addition, staff reviewed the
mean of notice utilized to advertise such opportunities including; QAlert, BDN and
facebook.
7. Approving the Details of the $4,280,000 SRF Bond Issue
Staff reviewed the details of the City's $4,280,000 SRF bond issue. The SRF program
was initially funded by the EPA for specific types of projects. This debt carries a lower
interest rate (approximately 1.5% for this issue) and must meet certain federal
regulations (i.e. Davis Bacon wage rates, Buy America, etc). This debt will fund the Bio
Tower project, Hammond Street Utility Upgrades Phase II and Court Street Phase II and
will be repaid over a 20 year period. Motion made and seconded to approve the details
of the bond issue. Motion passed unanimously.
S. Executive Session — 36 MRSA Section 841 (2) — Hardship Abatement
9. Open Session — Hardship Abatement Decision
Motion made and seconded to approve staff recommendation. Motion passed
unanimously.
Meeting adjourned 6:58 pm