Minutes-8/4/1998 (3)

TIFFIN CIP PLANNING COMMITTEE AUGUST 4, 1998 Present: Patrick Callahan, Judy Beckler, Mike Ryan, Jim Bartels, Steve Berner, Dan O-Halloran, Martie Reihman, Mike Gericks and Glen Potter. The minutes of the July 7th meeting were approved as written. The Committee reviewed the Project Summary List as prepared by Mike Singer. The Committee made no changes to the List. The Committee did note that the annual street improvement program was for $300,000 total or $60,000 per year. The annual watermain replacement program was $100,000 total or $20,000 per year. The annual sewer replacement programs was $150,000 to $30,000 per year. The Committee agreed that the Wastewater Treatment Plant was a "must project" and that the City has no choice on the completion of the project. Callahan noted that the $260,000 SRF debt retirement was not included in his calculations, because he did not have the annual payment schedule to retire the debt. Singer and Callahan will need to prepare an estimated debt retirement schedule for the wastewater plant SRF loan and include the annual payments in the calculations. The Committee noted that a citizen survey would be conducted in August to determine the level of public support for various capital projects. The Committee felt that the ball and soccer field would receive a high level of support. Therefore, the ball and soccer fields would be given the highest priority. Mayor Potter stated that there was $20,000 in the current budget for land acquisition for the ball and soccer fields. The City Clerk will forward a copy of the results of the survey to Callahan and Singer as soon as it is completed. The Committee agreed that watermain and sewer line replacements could be delayed, if the funds were not available. Callahan presented a draft report of his review of the City's financial condition and estimation of funds available for capital projects. He noted that it did not appear that funds would be available from the general fund for capital projects, unless the City increased the current tax levy of $7.20 per $1,000 of assessed valuation. He also stated that all of the road use tax funds were currently allocated for operations and maintenance costs. He indicated that the only funds available for capital projects were sewer revenues, water revenues, TIF revenues, and any grants for which the City might qualify. Callahan stated that he had made the following assumptions regarding future City revenues: * TIF Revenues - 10% increase per year for three years - then level