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Home My WebLink About12-27-2010 Regular MeetingPublic Meeting Notice Committee: Fairhope Financial Advisory Committee Date & Time: Monday, December 27, 2010 at 4:45 p.m. Place: Delchamps Room 161 North Section Street Subject: See Posted Agenda Notice must be stamped, dated and initialed before posted on bulletin board. POSTED /43 Ltllt_() __ _ !1 /l A, ,,,,;y ATE . ~ a~ SIGNATURE -. City of Fairhope Financial Advisory Committee Agenda-Monday, December 27, 2010 4:4S p.m. in the Delchamps Room City Ball-161 N. Section St., Fairhope, AL 1. Approval of Minutes for November 22, 2010 . 2 . Review of cost reduction projects, as follow-up from May 17 City Council Workshop. 3. Recreational Trail Grant Schedule Of Future Meetings (Note: Regular meetings are on the 4th Monday of each month at 4:45 p.m. in the Delchamps Room at City Hall, 161 N. Section St., Fairhope, AL.) · • Next regular meeting: Monday, January 24, 2011 STATE OF ALABAMA )( COUNTY OF BALDWIN )( The Financial Advisory Committee met at 4 :45 p.m ., City Hall, Delchamps Room, 161 North Section Street, Fairhope, Alabama 36532, on Monday, 27 December 2010 . Present were : Chuck Zunk, Chairman Members: Stan Grubin, Marvin Wilder, John Brown, and Mayor Kant. Ex-Officio Members: Debbie Quinn, Dan Stank.oski, Lonnie Mixon, Mike Ford, and Rick Kingrea. Mac Mccawley was absent. Chuck Zunk called the meeting to order at 4:45 p.m. He announced that the first item is to approve the minutes from the November 22, 2010 Financial Advisory Committee meeting. Dan Stankoski moved to approve the minutes from the November 22, 2010 Fairhope Financial Advisory Committee meeting. Seconded by Rick Kingrea, motion passed unanimously by voice vote. The next item on the agenda was the review of cost reduction projects, as follow-up from May 17, 2010 City Council Work Session. James Gillespie, General Superintendent, mentioned that Mike Ford and the Public Works Committee will work on the garbage, trash, and recycling issue and report back to the City Council in January. This committee will also discuss the landfill height and closing matter and bring back to the City Council. The custodial bid should be out and available to the public next week. The Recreational Trail Grant was the next item to be discussed. Debbie Quinn recommended for the City of Fairhope to apply for a Recreational Trail Grant through ADECA and the Department of Transportation. This would be for Volanta Avenue from the Eastern Shore Trail to Highway 181 plus the cut through from North Ingleside to Volanta Avenue. The Fairhope Single Tax Corporation has voiced their approval of helping with the grant. This is a $100,000 grant with a 20% match either cash or in-kind services. The grant deadline will be sometime in March and awarded next August. Stan Grubin mentioned being worried about how the grant would be administered. Mayor Kant replied that the City of Fairhope has received approximately $15 million since he has been with the City. Our track record is good and the State of Alabama must spend money that is allocated for specific projects such as trails. After further discussion, John Brown moved to recommend to the City Council the approval of the Trails Grant application. Seconded. by Stan Grubin, motion passed unanimously by voice vote. Financial Advisory Committee Monday, 27 December 2010 Page-2- Mr. Zunk announced there were two items needed to be added to the agenda: Higher return on our savings and the Skateboard Park. Lonnie Mixon moved to add the above mentioned items to the Financial Advisory Committee's agenda. Seconded by Dan Stankoski, motion passed unanimously by voice vote. Debbie Quinn said she spoke with Daphne and they were getting 6% interest on Treasury Bonds; and could get the money back within three days if needed . Mr. Zunk stated he searched for Treasury Bonds and could not find any getting that high of an interest rate. City Treasurer Nancy Wilson also tated she had researched several avenues: Treasury Bills were getting .21 % and Treasury Bonds at the most were getting 4% with a .287% yield to maturity. Ms. Wilson mentioned Mortgage Back Securitie which would tie up the City's money. If there is a short-term liquidity, it would be highly hedged. Debbie Quinn mentioned that the Skateboard Park Grant was extended until June 2011 and there is approximately $30,000 left in the grant. Ms. Quinn stated that she had been in contact with an engineering firm out of Colorado who specializes in skateboard parks. This is a 50/50 grant and the engineering firm could make us a new plan for $10,000. After further discussion, Debbie Quinn moved to recommend to the City Council the approval to go forward with the skateboard park plan and u e the Colorado engineering firm. Seconded by John Brown, motion passed unanimously by voice vote. Marvin Wilder moved to adjourn the meeting. Seconded by Stan Grubin, motion passed unanimously by voice vote. There being no further business to come before the Financial Advisory Committee, the meeting was duly adjourned at 5:10 p.m. Chuck Zunk, C Lisa Hanks From: Sent: To : Subject : debbiewq@gmail.com on behalf of Debbie Quinn (City Council) Tuesday, December 07 , 2010 6:26 PM Lisa Hanks ; Gregg Mims ; Jonathan I Smith trails Please place me on the agenda for a possible Trails grant. .... Thanks! DQ Debbie W . Quinn POB 429 Farrhope,Al 36533 251-928 -63 l 5 HM 251-928 -6329 FAX 251-751-1858 CL I ) : RCVI) Before printing this message, think carefully if it's really necessary. Printing wastes electricity, toner and paper. 1 Lisa Hanks From: Sent : To : Subject: debbiewq@gmail.com on behalf of Debbie Qu inn (City Council) Monday, December 13, 2010 2:49 PM Lisa Hanks ; Gregg Mims; Chuck Zunk Re : trail s Recreational Trail Grants are through ADECA but actually come from DOT through gasoline tax on A TV's .... not that you have to use for A TV Trails! So .... we have gotten 4 grants from them .... South Beach Trail/North Section Street Trail/South Mobile Street Trail/Jill Hall Trail refurbishing. ADECA was down here in the fall and we drove him around showing him ideas ... he thought that Volanta Ave from the ES Trail to Hwy 181.. .. plus the cut through from Ingelside to Volanta would be a good grant. I have spoken to Leslie Stesjkal about Single Tax helping with the grant, they have voiced approval of helping. It's a $100 ,000 grant with a 20% match either in cash or labor ..... we don't have an estimate on the cost, but I figuer it'll take more than $100,000 'to build due to possibly some drainage is sues. So, with out an approximate figuer ... .I asked Single Tax if we get the grant... 80 000 and matched with with in kind labor, would they fund any poss ible overage to get the entire length built. They wer favorable ... we'd have to get a vote from them, but we need a vote from us to ensure we can write the grant. The grant is easy .. .I've written 2 of them. Grants will open possibly in Feb-April...l don't know the deadline, but it wou ld be great to get the grant in early. It will give us a lead in the number of po sible grants that will come m. I'm on the grant committee and review board .. .I think I hav e some pull. We are also designated a National Trail...and thus get priority. Q On Wed , Dec 8, 2010 at 2:42 PM, Li sa Hanks <Lisa.Hanks @c ofairhope.com> wrote : Yes that wiJl be December 27, 2010. Do you have any information that I can send Chuck Zunk? Li a From: debbi ·1.c om (mailto :debbiewg@gmail.com] On Behalf Of Debbi e Quinn (City Council) Sent: Wedn mber 08, 2010 2:27 PM To: Lisa Hanks Subject: Re : trails can you pl ac e it on their agenda ... ? DQ o Wed, Dec 8, 2010 at 9:25 AM, Lisa Hanks <Lis a.H anks @ ofai rho pe.com> wrote : Debbie , 1 This will need to go before the Financial Advisory Committee before going to City Council. You guys passed a resolution stating that any grants must be presented to the F AC. See attached resolution. If you have any questions please call me. Lisa From: debbiewq@gmajl .com [mailto:debbiewq@gmail.com] On Behalf Of Debbie Quinn (City Council) Sent: Tuesday, December 07, 2010 6:26 PM To: Lisa HanJcs; Gregg Mims; Jonathan I Smith Subject: trails Please place me on the agenda for a possible Trails grant.. ... Thanks! DQ Debbie W. Quinn POB 429 Fairhope,Al 36533 251-928-63 l 5 HM 25 l-928-6329 FAX 251-751-1858 CL Before printing this message, think carefully if it's really necessary. Printing wastes electricity, toner and paper. Debbie W. Quinn P0B429 Fairhope, Al 36533 251-928-6315 HM 251-928-6329 FAX 251-751-1858 CL Before printing this message, think carefully if it's really necessary. Printing wastes electricity, toner and paper. 2