03-27-17 Utilities - Laserfiche WebLink

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be TIF funding used. What I would like to see is what the total cost would be if we paid for everything today. What percent would be needed to pay for the whole thing at this point? Committeemember Regina Williams-Preston stated, I thought last time we talked, we knew we would have to look to increasing again after year three (3) or beyond. And what's the body that oversees this whole thing?In any case, I thought I heard that every time we go to them, we have to pay $150,000. I want to also look at whether we want to move away from that. Committee Chair Dr. Varner replied, There have been times when the City has come and asked for the Council to approve a petition to remove the City from the IURC. Some communities have done that, and that's not off the table. We must find a way to get the initial resources right away but at the same time obtain a comfort level where we won't look at this for five (5) years. If these capital expenses are that critical,there must be a willingness to step in and allocate TIF dollars. If there isn't a willingness to step in, it seems to me it must not be that critical. TIFs were created for funding of infrastructure. Committeemember Davis asked, When we set up the payment plans for the sewer rates, is there any part funded by that piece of it? Committee Chair Dr. Varner replied,No, we funded bonds and there was cash available for sewer rates.No money from sewer can be used for this. Councilmember White stated, We have not had a public hearing on this particular ordinance. I don't think anyone is disagreeing that we need to have an increase. The question becomes, How do we look beyond the increase through the next three (3) years? We're looking at twenty-two percent (22%) for two (2)years. I have no difficulty using TIF at all. Committeemember Williams-Preston stated, I'm certainly in favor of using TIF. Councilmember Jo M. Broden stated, I don't think it is the wisest to use TIF for infrastructure. Also,we got to this proposal without public input. I have an issue with not sticking to our initial proposal of the five (5) year plan. I'm not wanting to delay this vote,but I think we were presented with a really smart way that has been kicked down the road. Committeemember Davis stated, I do believe the public hearing has to be heard today and I think after we hear the public and hear what they have to say, it will be good. The Administration has responded to us and our discussions. Councilmember White stated, I think there is consensus that we have to raise water rates. I think we need to raise them pretty soon. Councilmember Tim Scott stated, Every time we approach IURC, it is another$150,000. Do we need to get out of that? That issue doesn't solve this issue at hand right now. The can has been kicked far enough down the road and we need to make a decision. The longer we delay,the larger the price gets. 2