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Personnel and Finance Committee Meeting Minutes of November 6, 2008 <br />Page 4 <br />Dr. Varner stated that often there is "spare cash in various TIF Districts". Uses for that <br />extra money needs to be discussed now, more than ever, especially in light of the police <br />and fire services being provided to each of the TIF Districts. "Porting" is permitted in the <br />state of Illinois, in reference to the Chicago TIF Districts. <br />Dr. Varner further noted that by using TIF monies for capital, such as police and fire <br />capital, it frees up other monies for operating expenses. <br />Council President Rouse stated that he recently attended a workshop and that the <br />information provided by Baker Daniels of TIF differs from the information provided by Mr. <br />Gibney. He stated that in this post 1001 era, a different paradigm is needed. <br />Council Member Puzzello voiced concern that no one from Century Center was present for <br />the meeting. She stated that she has several questions on their proposed budget, actual <br />income, projected income, projects, etc. <br />City Controller Fanello stated that she too has several questions for Century Center, noting <br />that this has been a "bad year" for them. She will follow-up with them. <br />Ms. Fanello stated that she has asked all departments, in response to questions raised <br />earlier by Council Member Puzzello, to prepare a listing of any "cost savings measures" <br />which they have implemented. <br />Council Member LaFountain suggested that all of that information to sent to the Council by <br />next Monday before the Common Council meeting. <br />Ms. Fanello stated that more meetings between the City Administration and the Common <br />Council over the next 4-6 months will be necessary. The baseline budget which the <br />Council will act upon next Monday, wil! preserve the tax levy. She stated that on January <br />1, 2009, the City will basically be looking at their check book without any money in it. <br />Thoughtful discussion needs to take place. She again noted that the assessed value went <br />down from $3,042,193,955 to $2,970,810,930. <br />Council Member Puzzello also suggested further discussion on the Professional Sports <br />Development Fund, noting that that fund can be used for the zoo. <br />Council Member LaFountain thanked everyone present for their input, and then adjourned <br />the meeting at 6:25 p.m. <br />~Cour~l MemlSer`Thomas LaFountain, Chairperson <br />Personnel and Finance Committee <br />Attachments <br />