HomeMy WebLinkAbout1998-09-21 Finance Committee MinutesFINANCE COMMITTEE
MEETING MINUTES
SEPTEMBER 21, 1998
Councilors Attending: Jim Tyler, Michael Crowley, Gerry
Palmer, Joe Baldacci
Staff Attending: Mary -Anne Chalila, Debbie Cyr, Edward
Barrett, Norm Belted", Erik Stumpfel,
Rodney McKay, Chief Cammack
1. Executive Session• Hardship Abatement
2. Executiveo_ Workers' Comp
3. Executive Session: Land Disposition
9. Executive Bass ion: Land Acquisition
5. Baldacci Hampden Property
6. Executivesession: Land Acquisition
7. LandAcmuisition - Crestmont Road
8. Executive session: Land Acquisition
9. Executive Sesaion: Land Acquisition
10. Executive session: Land Acquisition
11. Land Accuisition - Tinker
12. Land Acquisition - Anderson
13. wor,y+Ammar gst=`t - Matured Sewer Lien - Walton
mr. Walton has a matured sewer lien and would like to have a
workout agreement to be completeD within 12 months. Approved
workout agreement.
14. Bid@:
a. window Van (Engineering/Motor Departments)
Varney's GMC of Bangor ($4,235.20 (5) yearly payments)
This item was
not in the budget. This lease/purchase
arrangement is over a 5 year period. The Engineering
Department currently pays the motor Pool approximately
$8,700 a year which would easily cover the annual payments.
There would be no maintenance required for at least 3 years
because of the 36,000/3 -year bumper to bumper warranty.
Approved.
b. 4x4 Crew Cab R 4x4 Pickup Truck (Airport Dept.)
Bean and Conquest of Bangor ($55,473.00)
Both of these vehicles were in the Airport's budget. The
recommendation is to go with the low bidder. Both vehicles
will be equipped with plows. Approved. .
C. Computer Paper (City Wide)
Century Robinson of Portland (6,054.40)
The recommendation is to go with the low bidder. Approved.
d. Davis Brook Sewer System Upgrade on Patten Street
(Engineering Department) - Campbell Construction of
Brewer ($355,546.53)
Recommendation to go with low bidder, Campbell Construction.
Approved recommendation. -
e. Garden Tractor (Parke and Recreation)
Hammond 6 Tilton of Fairfield ($9,450.00)
This will be used specifically for ballfield maintenance;
-roto-tilling, shaping, etc. Approved.
f. Zero Turning Radious Hower (Golf Course)
R.D. Faulkner of Brewer ($5,609.40)
Approved.
15. University of Maine Contract for Banner Paint Collgqtign and
Disposition
An oil based paint collection day has been scheduled for October
3 for Bangor residents. Public Works has been working closely
with the University because they deal with this type of waste
frequently and the City has been given the opportunity to piggy-
back on their contract. The City pays for the disposal but none
of the transportation. Approved.
16. Reguest from Dr. Richard Thomas for Refund of Fees for Site
Plan and Conditional nae Approvals.
The Committee, after testimony from Dr. Thomas, approved the
refund of the conditional use permit portion of the fee.
17. 2 Authorizing the Issuance of up to
S2-000.000 Aggregate 1 at
Bonds and/or Notes to ax L
Therefor
The City would be guaranteeing the costs associated with
renovating the bottom three floors of the Presses Building. That
would include exterior renovations and interior renovations to a
"white box" status. This will allow the Realty Resources project
n the upper three floors to go forward. Rod McKay is working on
agreements with Realty Resources that as space became leased,
would buy down this liability. Rod commented that the total cost
of the project for the top three floors and bottom three floors
is approximately $5.9 million. Realty Resources has an equity in
the project in the amount of $3 million. For the residential
portion, the State Housing Authority is contributing $600,000 and
the City would be loaning a little over $200,000. For the bottom
three floors, $1.9 million is necessary to support the top
floors and will bring the space into livable condition. Because
there are no tenants for that space as yet, it is difficult to
get private financing. The City is being asked to provide the
financing for the bottom three floors. The new
residential and
and commel
rcial projects on all six floors will generate
approximately $75,000 in new tax revenue per year to the City,
which would allow the City to borrow a little over $1 million and
Bay the debt off with the new tax revenues. This money would be
borrowed a year from new. Approved recommendation as amended.
18. Appropriatign Qf Restitution Funds Within the
Police Dept.
The court ordered that the Police Department receive $2,500 as a
result of a situation involving a hoax. The recommendation i
that the funs be appropriated to do additional training for the
bomb disposal technician. Approved.
19. Proposed Hardship Abatement Policy
Tabled until next meeting.
20:: 1 Vacant Military Units - Randolph
Drive.
Approved staff recommendation to purchase insurance.
21. Workout Aareements:
--1408 Hammond Bt.
This is property that needs to be torn down and staff feels
has little value to the City. The owner is willing to enter
into a workout agreement with the City. Approved. _
--Cedar Falls Lot 232
Mr. Currie has agreed to enter into a workout agreement for
twelve months. Approved.
22. Hose 5 Agreement
Hose 5 wanted to change the agreement reducing lease payments
and dropping the option to purchase. This amendment has been
reviewed by Hose 5 and they have no objection to it. It does
require them to be open a certain number of days throughout the
year. It also provides that they continue to maintain and
improve the facility. Approved.
23. Discharge of Tax liens
Approved.
With no further business to discuss, the meeting adjourned.
W419P