10-14-02 Personnel & Finance - Laserfiche WebLink

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Gommittr Ittport r. onnti ate f inanit toutittittizt The October 14, 2002 meeting of the Personnel and Finance Committee was called to order by its Chairperson, Council Member James Aranowski at 3:55 p.m. in the Council Informal Meeting Room. Persons in attendance included Council Members Aranowski, Pfeifer, King, Kuspa, Varner, Kirsits, Coleman and Kelly;City Controller Rick 011ett, City Clerk Loretta J. Duda, Community& Economic Development Director Jon Hunt, Michael Beitzinger, Ann Kolata, Terry Bland of the oitUJ Oltuti tr ibuut and Kathleen Cekanski-Farrand, Council Attorney. Council Member Aranowski called for a presentation on Bill No. 68-02 which would set the 2003 salaries for the Mayor and the City Clerk. k. City Clerk, Loretta J. Duda, made the presentation. She stated that the proposed salary for the Mayor of$84,096 and for the City Clerk of$45,556 reflect a 4% increase over the 2002 budgeted amount. This percentage increase would be consistent with non-bargaining employee salary increases for 2003. Following discussion, Council Member King made a motion, seconded by Dr. Varner that Bill No. 68-02 be recommended favorably to Council. The motion passed. The Committee then reviewed Substitute Bill No. 76-02 which would authorize the preliminary issuance of bonds to evidence a loan from the Indiana Department of Environmental Management Brownfields Cleanup Revolving Loan Fund which is administered by the Indiana Development Finance Authority. Ann Kolata, Senior Redevelopment Specialist with Community & Economic Development, made the presentation. The ordinance would pledge a portion of the City's COIT revenues to make payments on the bonds to repay the$1 million loan form the Brownfields Cleanup Revolving Loan Fund to cover the costs of remediation at Fredrickson Park. The maximum period for repayment would be twenty (20) years at a maximum interest rate of 3 %. Ms. Kolata noted that discussions are currently addressing a ten (10) year payment period at a maximum rate of 2.5% with a 10% amount of the loan to be forgiven. She noted that she would be back to the Council at the end of November since the State of Indiana will not take action on the measure until November 19th. Following discussion, Dr. Varner made a motion, seconded by Council Member King, that Substitute Bill No. 76-02 be recommended favorably to Council. The motion passed. There being no further business to come before the Committee, Council Member Aranowski adjourned the meeting at 4:00 p.m. Respectfully submitted, Council Member James Aranowski, Chairperson Personnel and Finance Committee KCF:kmf Attachments