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Councilmember White referenced the $3-$4 million in cuts outlined in a handout form <br />the Controller dated May 6, 2009. Councilmember Rouse said the good work done since <br />200 needs to be promoted. They Mayor then advocated support for the three tax <br />increases to address the shortfall. Council President Dieter asked when the taxes would <br />go into effect. The Mayor said that if adopted by the income tax council by July 31, the <br />tax would be levied beginning October 1, 2009 with distribution starting January 1, 2010. <br />Further emphasizing the search for efficiencies the Mayor has solicited expertise from <br />Memorial and Notre Dame Managemerit teams. Gary Gilot interjected the city was <br />looking for innovative solutions not just cuts. Henry Davis questioned what tangible was <br />being done and could TIF and "Rainy Day" funds be used. The Mayor recounted the <br />already used TIF funds for bonding of the police and fire headquarters. Further, the <br />Mayor defended the need for keeping a "rainy day" fund balance. This would help cash <br />flow, the bond rating, and readiness in case of emergencies. Councilmember Varner <br />while acknowledging the shortfall suggested a better response would be an appeal to the <br />State Distressed Property Tax Board. This would allow more gradual property tax over <br />the next 5-10 years. Job creation would stimulate revenues from taxes already levied in a <br />recovering economy. Tim Rouse disputed the validity of the approach claiming the city's <br />credit rating needed to be protected. Councilmember Henry Davis questioned whether <br />the city was asleep at the switch, wondering if efforts to fill the shortfall should have <br />started years earlier. Councilmember Rouse coming to the Mayor's defense, reminded <br />Councilmember Henry Davis of the Mayor's advocacy for Hometown Maters. <br />Councilmember White wondered if the Council should consider an accompanying <br />resolution that stated the Council would revisit the tax in the future. Councilmember <br />Kirsits felt as through another resolution would "muddy" the water for tonight's hearing. <br />HE suggested the advisability of a resolution could be considered at a later date. <br />Councilmember Oliver Davis wondered if privatizing has been considered. The Mayor <br />said it had. <br />There being no further business to come before the committee, Vice-Chairperson White <br />adjourned the meeting at 4:00 p.m. <br />Respectfully Submitted, <br />Karen L. White, Vice-Chairperson <br />Personnel & Finance Committee <br />