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HomeMy WebLinkAbout1993-09-01 Finance Committee MinutesFfmnce Ca UCo Ssptmdxt' 1, 1993 Committee I4grbera Present: R. Stora, Chaim M. FraNml, J. Sail, D. Soucy C=ca Maot9r9 Prc att: Sohn Br Stdff P1ESent: E. �t, J. Q1aLtdtazo, R. Fa f D. Pellegt , D. 99arianit, K. Gibb, E. SbMTfal, R. D Sbou, T. HaW>xvck (4.W1'P)• T. Duran (Fire)I J. MC u Others P Send Dr. Gillad gal Bsn ymt yoc1 y Carl S Phil p.r4ley, Pudmn 6 Wi eu s SeM" lut Silver, mc. and Ba Silver, parsmally Cary Rorf, , Mcttmn R � repraseti Sean^umall 6 James Parkes m ting was called to order at 7:30 a.m. nde.xLmn: Rxttati S ' - Raxdshi Tax Bbateaant M. Frankel ma i to V i IDm Uve S ion to S a hardship We ab a mnt zepast. Saronded by D. Sou y. Passed. Into Emecutive Session 7:30 an. Out of Rmecu ivs Session 7:53 am. M. Frankel mrsi to dory abatemeiR iequ Y &0 to avflilable assets, hvt M va foreclosure of 1993 tax lien, defer 1994 rooms until abplicant is eiUer able to malm paymmm:s or transfers ownership of the property, and require that circuit breaker pa}msnt from Siato of Masse be apllei to eider rim 1994 taxes of t 1995 taxes as a ptepayment. Se:on a by D. so c . Passed. 1. Barwor Ybuu Rocimv/s Iue:a Dr. Mladogn paveent i xaNest to C t d at Hie Oatstaod� laws paymant of $103,500 due rte Gity of Ramer fromi Bag youth Hockey xssodatfmn be refinarced, after paymnt of $13,500 to oad aaeamge w $90,000, at 6/54 n Quer 10 ya5ts wiN a prepaymP prion at the mid of year 5. Dr. Gillady: clrcalatm nam datad Septmdmc 1, 1993 commertnlmg rayons for s fall in pat including costs in ems of eathoatei for capital unfi pledges and interest de city In exress of estinatae. &gremmm would inebsie payment of $12,263.18 ann y, aM first pay sant world be made [tceober 1993 as prepayment of Eixst . at=H int dm. D. Savvy discussed teflnercfnl option e d Was supPoxtive. Quertararo advised that H is requesting 6.5% A , and the city Wan. i funds at 7.08 until 1996 and then rate awes to 7.18; therefore, rata should be caflecti of the city's cost to boats at the original bond coupon. Also, that $103,500 is an anticipated revenue in the 1994 budget Which Will not be received, and that them are, not other taverna scarce to neck e vp the shortfall at this time. ahenfault sepleinsd that city is negotiating a manage mut agmmmut with H ani With the closing of area ice arena and cu� at Al£ond as well as additional. teare starting V there is a greater opportunity to sell ice rice. Expectation is for impkwed renames beixg generated fon ,..� of area. Harnett advised that an option could be Included with the maa0oent agreement to provide for a sat as dc' of anneal operating profits to pry off the second: due the City m an accelerated schedule. D. Sexy Awed that staff ad & ngor Youth IbClCOy be di Yah to wodaut a rastnwNrian of the lease for pmsematim to the city council. Seconded by M. lranwl. Passed. 2. Off-site — W'^^ Park Parkin* lot fucte t pcaaac d ftau which ie for council approval of an agreement with i for the City to accept viQrv+amfis including amexship ad operation Of traffic light at entrance to Wing Parking int in ashange for annual ,•_/ �i='e�t costs psym being made to the city by iiMs. redia is an indafinite temm agreement subject to one year notification of inodretim, and annual escalation by M. R. Stone qusatiored why, the city should accept at all if benefit is limited to 1 and why if H is subject to man=ioll aeroice fees, this agreament would cease. Staff advised that city has accepted similar fnprovoent from other without being compensated for annual coats, aid that cost of o eratim would be inclded within Taxes of fee structure. D. Soucy toned afpmval of agreamaR pxeaerted. Secodad by J. Sael. Passed 3. Additional PMS +iilitary Service Cadit Fatter presented item which is review of actuarial study of the cost of exteudi g military service tine vides TSPS to those hired a£t¢ 1/1/76. r14+5 study indicates addition to the unfunded pension obligation of $787,000 and an incx ese in the cm2cibution rete of .26% for all erpleyeas. staff hes not recmnmd adoption of provision due to costs. skin Duran, Five Dept.., spoke in support citing equity and fairness for employees. He does not think that ertmkd liability will increase at one tine, apt that as older wodvts retixe the cost to city will balave mt. R. Stone guastlored oat of ahung the pmdsim, arch the open ailed realm of its provision duck allows the zecogiutim of arty future mn£lict oz vulivty service. Sou:Y queetiond ndul' CStY should provide a benefit fox persons who bane service rive but do lad e. cmcactian ho the City as mployae or xesidem prior to that service time. J. sail and M. 13aNv=1 hath spoke to the issue of faimees and equity and that if a benefit is ptwide to some employees it stwld be mule available to all. Fa advised that this It was Placed on Ute table £or mlle:tfw .,g by the Fine 1 M, ani he will need 9uvdence fta4 Council xegaxditxl .e,9 x .x ,ms. D. 6oiuy imval to mf¢ fasiie to t City's barggain^ x gaeaentaTl fon collective mn:ng xineipGiatiwls. M semivl. Barnett advised that his remsaentletion is t xeYer w C it for �tive Swaim labs rlqgt . M. Fxar6ml owed that Use itmi ba xefermd to the City C it fox an Hscutive Session cw=m 4 labor iMgotiatiau. .,ecWed by D. Soucy. Passel. 4. Tax �t -- 1992 Tax Qts.., pneseRerl xequast to aN 1992 tax lien £ilei agavist W Epstein TT 20800-92. Q tan lv tax was $3.65 in ur4 it interest ani lienshould rwt fMva bs°a filed. J. Ssxl aovsi appxwal of tax abat® f 1992 tax lien filed against mith Epstein TD -20800-92 in the m t of $29.07 plus SMexest. Sxvvded by M. FraNiel. Passel. 5. Tax Abatan?nt — Fields F Siery Ouniaram advised tlife iter is tamed fo f prior Finavice farnmittee neetfng. Mit w abate 1990 Perso:al property tams fa Fieldsibeie y of Maine, mc. R1xxe is w mmni that the migxmy is in busies within Maine or Msss. In 1991 t lai+M Sanetany of State mwlmd ai Jty for the cmpanY to do basmess in gine. Wa am enable to locate the cagvary to file legal papers. D. Sway personal property tams for Fields M. ie of PP -50656-90 $335.47 plus mtmaat; and Fields M ieny PP -54209-90 $104.72 plus lmerest. Seco by M. FmN - Passed. 6. BIDS a. F tJ1izew Spmadet ((blf faunae) D. Soucy owed acrd far Przcbaee of se.*vt:.a to Samtelle Brotlnm, Dc., Lawne a, m fox lam �siva bfd of $3,395. Semitled by S. Hail. Passat b. TaN Paroval Phase ll (airport Deparlaslt) D. Srn 3' imvai xe-. .im;,e. the CStY C=il to azard tank ramval cmrt act to sale bidder FIIi90es ffivthens, Lic., Banipx fox price of $246,430. � by M. i2m0v>1. Pawed. c. Battery Conl2acG (Motor Pool) D. Soscy roved acsxd.of connect far pvssebase o£ batteries to law birHer M. H. Bragg esti tog anialal met o£ $5,998.14. He>attled by M. P1E➢lal. Passel. d. Microscope (WasCEvmtec 1lcatment Punt) M. tY� moved award for purchase of mi¢oscope all video system to low �ive bidder 143uiMFxh Optical, {h.Aeon, MA for bid price of $6,120.90. � by D. Soucy. Passel. e. Public Works Building Ught g Aetiofit (Public Service Dept.) M. tt� owed said for purchase of lights and finches on a pec item basis to Sta:tlard Blectrfe, GiLmn Electric andl8:lmes Disiributrna, all of Bangor, Maine for of $6,327.90. Bxrndsd by S. Sail. R. S[mie abstaimd due to conflict. Passed 3:0:1. f. Coopure (ne Bis) M. Brm0m1 moved axexd for pumn.m of cmpn to los bidder Your Ictal &sires Center, Bangor, Mafne for pefce of $4,325. Seconded by D. Soucy. Passai. addeixkvn: g. Pellegr ro inesentzl x pmt for m®me:dation to City Council to a ooft ct for consttn•ticn of co=� audition and the Liswllation of a passenger fling bridga to ] bifid¢ [brtM1err. Mafre Construction, Emgor, Maine for bid Xice of $416,000 uni tan aiP grant. M. � moved Natien to City (burcil to aaeM w:rcracr for const cm of coaifbr add£tion and rte installation of a passenger loading bridge to low bidder tbriltern Maine Construction, Bang=, Mafre for bid price of $416,000 un rgr BM = grant. SecvnFd by J. Sart. D. So ry absTnmvl becemse his repbea is the owner of [»rtrun:n Maine Constnution and a perceivai conflict. Peasai 3:0:1. 7. ]0mL'OPNG SE95IM: l Mecotiation J. Sart moved go i o Mamuti Session to discuss ]and negotiations. Sa on a by M. PrmJml. Passel. =o a uti Session at 8:44 a.m. Out of tee ti Session at 9:25 a.m. *m*'M, adjourned at 9225 a.m. Rsordi:g Secretary John n.a.t Pinarte Dira.Y7r