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HomeMy WebLinkAbout11/10/2003 FINANCE COMMITTEE November 10, 2003 4:40 p.m. Council Chambers Councilperson Hurley called the meeting to order at 5:02 p.m. Members present: Hurley, Getty. Members absent: Jordan. Moved by Getty, seconded by Hurley that the Agenda, as proposed, be approved. Ayes: Two. Absent: Jordan. Motion carried. Moved by Getty, seconded by Hurley that the Minutes of November 3, 2003, as proposed, be approved. Ayes: Two. Absent: Jordan. Motion carried. The Downtown and East Side Small Business Improvement Program was reviewed. Five downtown banks will make loans to businesses in the Downtown and Logan Plaza areas. The banks include: Union Planters Bank, Wells Fargo Bank, MidWestOne Bank & Trust, Community National Bank and US Bank. As a part of the program, they have asked that the City of Waterloo guarantee up to 50 percent or a maximum of$25,000.00 per project. The city would not actually make loans but be asked to guarantee portions of loans on a case-by-case basis. These projects would be presented to the Finance Committee in the future. Staff is suggesting the city could earmark a portion of the accelerated loan payments that have occurred this year due to the low interest rates, currently over $100,000.00. The ultimate goal of the program is to create new development and redevelopment for Downtown Waterloo and Logan Plaza. The loan program will work to create a positive image for Waterloo through the aesthetic improvement of these areas by encouraging small business development. The program specifies eligible activities, minimum loan of $1,000.00, interest rate at National Prime Rate Floating, approve of design, where applicable, by the Main Street Design Review Board or Highway 218 Design Review Board and the application process. Moved by Hurley, seconded by Getty that the Downtown and East Side Small Business Improvement Program be approved and to earmark the accelerated loan payments for said program and the program be forwarded to the full council for approval. Ayes: Two. Absent: Jordan. Motion carried. Moved by Getty, seconded by Hurley that the travel request for Assistant Superintendent of Waste Management Services to attend CEU classes towards certification in Des Moines, Iowa on November 11-13, 2003, with costs not to exceed $255.00, be approved. Ayes: Two. Absent: Jordan. Motion carried. Moved by Getty, seconded by Hurley that the travel request for Professor, Department of Public Policy at the University of Northern Iowa, to attend Racial Profiling Focus Groups meetings in Dubuque, Iowa on October 11 and October 24, 2003, with costs not to exceed $234.61, be approved. Councilperson Clark objected to paying the mileage cost of $117.80. Ayes: Two. Absent: Jordan. Motion carried. Councilperson Hurley suggested that the city's current Travel Policy be reviewed. Moved by Getty, seconded by Hurley that the request of the Superintendent of Traffic Operations for pre-authorization to expend $2,993.50 to purchase street name signs as part of the street name sign replacement project throughout the city be approved. Ayes: Two. Absent: Jordan. Motion carried. Moved by Getty, seconded by Hurley that the request of the Executive Director of Human Rights Commission for pre-authorization to expend $2,079.00 for services provided by administrative law judge for public hearings be approved. Ayes: Two. Absent: Jordan. Motion carried. Moved by Getty, seconded by Hurley that the request of the Leisure Services Director for pre- authorization to expend $1,295.00 to purchase program tee-shirts for 2nd - 5`h grade youth volleyball program participants be approved. Ayes: Two. Absent: Jordan. 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