HomeMy WebLinkAbout2024-02-05 Finance Committee Minutes �
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Finance Committee Minutes
February 5, 2024
Council Chambers, 262 Harlow St.
Councilors in Attendance (Committee Members): Tremble, Fournier, Yacoubagha,
Leonard
Other Councilors in Attendance: Hawes, Pelletier, Fish
Staff in Attendance — Little, Huotari, Laurie, Hayman, Tager, Pelletier, Theriault,
Krieg, Drew, A. Huotari
1. Bids/Purchasing
a. Vehicle — Fire— McGovern Auto - $49,708
Motion made and seconded to approve purchase; motion passed unanimously
b. Kenduskeag Stream Retaining Wall Engineering Services— Engineering —
Dubois & King Inc. - $79,565
Motion made and seconded to approve contract; motion passed unanimously
c. Pre-approved Architectural Designs — Community & Economic Development
— Gawron Turgeon Architects - $100,000
Motion made and seconded to approve contract; motion passed unanimously
d. Short-Term Rental Monitoring - Community & Economic Development—
Deckard Technologies - $15,375
Motion made and seconded to approve contract; motion passed unanimously
e. Front End Loader— Public Works — United Construction and Forestry -
$159,900 (Life Cycle Cost)
Motion made and seconded to recommend purchase; motion passed unanimously
2. Assessor's Update
The City Assessor, Phil Drew provided an update on the projected assessing valuation changes
for the upcoming FY25 tax year. He explained that adjustments to value were required to
bring Bangor's assessment ratio to approximately 94% of market value. Also discussed was
the approved revaluation project. That project is getting underway and take approximately 2
years to complete. Valuation changes made by staff related to market are anticipated to
mitigate the final results of the revaluation.
3. School Revolving Renovation Fund Application Discussion
The Committee was updated on seven School Revolving Renovation Fund (SRRF) applications
submitted by the School Department for various projects. The SRRF updated the maximum
loan limit per project from $1,000,000 to $2,000,000 allowing additional funding to be
available. At the meeting, Jerry Hayman, the School Director of Business Services, informed
the Committee that four of the seven applications had been preliminarily approved. Later in
the process, a bond order will be brought before the Council for final approval.
Upcoming Items(subject to change)
(Anticipated dates are subject to change)
• Procurement Policy Recommendations (TBA)
• Matured Lien Policy (February 21, 2024)
• Brownfields Project—Airport Alerts Building (February 21, 2024)