HomeMy WebLinkAbout2022-02-23 Finance Committee Minutes
FINANCE COMMITTEE MINUTES
February 23, 2022
Councilors in Attendance: Fournier, Sprague, Yacoubagha
Staff in Attendance: Laurie, O’Donnell, Hamilton, Huotari, Drew, Caruso, Smith,
Theriault, Tager
1. Consent Agenda
a. Emergency Repair – Loader – Public Works - $16,100
b. Emergency Repair – HVAC C&L – Airport - $27,049
Motion made and seconded to accept the consent agenda, motion passed unanimously.
2. Bids/Purchasing
a. Fuel Truck – Airport – SkyMark - $250,000
Motion made and seconded to recommend purchase to the City Council, motion passed
unanimously.
b. Sewer System Maintenance and Repair – Water Quality – C&C Lynch Excavation –
Estimated 2 Year Cost - $1,240,025
Motion made and seconded to recommend contract award to the City Council, motion
passed unanimously
3. School Bond Order – Vine Street
Superintendent Tager shared the significant issues with the Vine Street school steam
heating system. The school was built in 1954, the useful life of steam piping is 40-50
years. The existing system has instances of scaling within the interior and exterior of
the steam piping, corroded hangers which compromise the pipe system, and leaking
water into trenches that could foster an unhealthy environment.
The School department recently solicited bids to replace the aging system. In order for
the contract to be executed, the City Council must authorize a bond issue in the amount
of $2,569,000.
Motion made and seconded to recommend a Bond Order in support of this project to the
City Council, motion passed unanimously.
4. Assessing Update
The City Assessor provided an update on the sales ratio analysis that will be the basis
for market based assessed value adjustments effective April 1, 2022. The housing
market continues to be volatile, with limited supply and low mortgage rates. The
process that we utilize will be focused on a sales period through 2020, which mitigates
the impacts we are seeing in the current market place, where properties are selling for
significantly more in a one year period. Initial estimates are that the total assessed
value for the City will likely increase 13%-15% due to market based adjustments.
5. Council Priority – Monthly Update Discussion
Staff reviewed the process that will be undertaken at the staff level to identify and bring
forward critical background information. The metrics for determining priorities for use of
this funding was reviewed. Councilor Sprague referenced that an additional metric to be
considered should be one-time projects versus on-going costs. He also shared that this
will be a transparent and comprehensive approach to how the funds will be allocated.
Council Chair Fournier shared that we are likely to see the beginning of this during the
City’s upcoming budget process. Staff shared that the goal is to have fully developed
and mostly complete the process by November.
Meeting adjourned at 6:36 pm