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02-17-1987 - Special t , ..\,1. o Q CITY COUNCIL OF EDGEWATER SPECIAL MEETING FEBRUARY 17, 1987 MINUTES Mayor Baugh called the meeting to order at 6:00 P.M. in the Shuffleboard Building. He stated the purpose of the meeting was to review the capital improvement program. ROLL CALL Mayor Earl Baugh Councilman Louis Rotundo Councilman Russell Prater Councilman Neil Asting Present Present Excused Present Councilman David Mitchum City Attorney Jose'Alvarez City Clerk Connie Martinez Chief Lawrence Schumaker Present Excused Present Present Also present were: Terry A. Wadsworth, Utilities Superintendent; Ron Austin, Public Works Superintendent; David Garrett, Recreation Director/Buildings and Grounds Maintenance Superintendent; Dennis Fischer, Building Official/Code Enforcement Officer; Alex Kish of Brent Millikan & Co. auditing firm; Gerry Hartman and Frank Marshall of the consulting engineering firm of Dyer, Riddle, Mills & Precourt, Inc./ Marshall, Engineers; Gerry Ferrara, City Engineer; and Mr. Bill Sundstrom, of a bond counsel firm. Mayor Baugh stated his concern that a Councilman and the City Attorney were not able to attend this meeting, the Councilman due to a family emergency and the City Attorney due to a hearing. He said he felt it's imperative that they be present to hear this. He suggested they recess this meeting, or call another meeting, so the City Attorney and the other Councilman can be present to hear the entire program. Councilman Rotundo questioned what hardship this would make on some of the out of town gentlemen. Mayor Baugh replied that he'd talked with the engineer and he has no problem with it. Mayor Baugh asked if Mr. Wadsworth had a problem with this. Mr. Frank Marshall asked if they could give a status report of what they've done. Mayor Baugh agreed to the request, but stipulated that it not be too specific or detailed. Councilman Asting agreed they should proceed with the status report. Mr. Gerry Hartman stated they'd worked with Marshall, Engineers and Ferrara Engin- eering on this project. He said on September 29, 1986, they submitted a Florida Shores Master Plan and presented it to Council and it was accepted and approved. He said they looked at the costs associated with it and what would be most cost effective because of tearing up a street for a sewer. He added that Council directed them to look at all the projects and group them in the most cost effective manner that can be financed but be most cost effective to the City and bring this back to Council. He said they've gone through the entire City and listed the items that could have improvements and upgrading. Mr. Hartman said they want to identify the projects and what is most cost effective, then group them and develop a financing strategy, which would be phase 2. He added that implementing a financial plan is phase 3, and phase 4 is to implement it. He pointed out there's a Comprehensive Planning and Development Act that the City has to comply with in 1988 and they have to inventory the City and provide all the capital items the City will need. He noted that a large portion of this is associated with sanitary sewers and they've talked to people in Tallahassee and were advised March 15th is the date for grants to be in. He said they'll be requesting Council to authorize them to submit a form to be considered for grant funds which decreases the capital requirements if it's qualified. He added they have to put it in certain time frames, and they want to be sure they have a tealO pulling together to mold the project in a cost effective manner and to get the lowest possible cost. He said they want Council to determine the team to do this. , . . ~' v. <J Q Mr. Hartman suggested they consider the financial strategies in the market today. He said Bill Sundstrom is here, and a bond counsel from Tallahassee, and an attorney, and they've been involved in about 40 bond transactions in the State. He said they asked him for guidance and information to identify the markets. He added that at the next meeting they'll give more specifics on that. He pointed out that the bond market looks very good and the rates to borrow money would be about 6 to 7%, which is the lowest they've seen in a decade, and the financial people think they'll see the lowest for this decade. He added that they hope to capitalize on this favorable bond market. Mr. Hartman said he's talked to D.E.R. and to people in Tallahassee who will assist in the grant funds. He added that he's been involved in grants for sewers throughout the State. Mr. Hartman stated they've finished phase 1 of the project by listing the projects and then they'll make the decision of which ones will make it. Mr. Marshall pointed out that only a certain percentage of what they're doing is eligible for grants, but not all of it. Mr. Wadsworth suggested they move along as quickly as possible because the financial market will not stay the way it is. There was a discussion of the next available date for a meeting and it was agreed to meet March 4th at 5:00 P.M. in the Community Center. Bill Klein, President of Florida Shores Property Owners Association, offered the facilities of their club house for the meetings because they'll have many more people. Mayor Baugh expressed his appreciation for the offer. Mr. Klein then stated that he was appointed to work on this board and he's never had a meeting yet, and he questioned how this came about. There was discussion about when the project began and when Mr. Klein was appointed. Mr. Klein stated that Bill Chappell's office was called and if there's money available, it should be through the County, and he's called Tom Kelly, the County Manager, regarding the sewer money. Mayor Baugh asked Frank Marshall to advise Mr. Klein the particulars of the project. There was further discussion about when the project began and when Mr. Klein was appointed. Mr. Klein noted that the City Attorney was not involved in this and his office was to call him when there was a meeting. Mr. Harry Ryan introduced himself as the other representative. Mayor Baugh requested a motion to have cation. Councilman Rotundo so moved. Motion CARRIED 4-0. Councilman Asting the interest rates may start going up the engineers proceed with this grant app1i- Councilman Asting seconded the motion. stated it behooves them to get moving because at the third quarter. David Molnar, from the audience, asked about the interest rate and Mr. Hartman clarified that New Smyrna Beach had to pay 12% on 6.9 million in 1982, but today's market is much better than that. Mayor Baugh requested a motion to adjourn. Councilman Asting so moved. Councilman Rotundo seconded the motion. Meeting was adjourned at 6:22 P.M. Minutes submitted by: ATTEST: ~ 7f: ~~A Lura Sue Koser C f/es -2- Council Special Meeting Minutes February 17, 1987