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HomeMy WebLinkAbout03/30/2005 FC minutes FINANCE COMMISSION AMENDEDAMENDED MM INUTES OF THE EETING M30, 2005 ARCH VHB ILLAGE ALL UILDING I. CO ALL TO RDER The meeting was called to order at 7:00 p.m. Those present included Chairman John Korn and Commissioners Vince Grochocinski, Rich Micelli, Tom Pekras, Ann Smilanic and Lee Williams. Also present were Director of Public Works Glen Andler, Deputy Director of Public Works Sean Dorsey, Water Superintendent Matt Overeem, Director of Finance David Erb, Deputy Director of Finance Carol Widmer and Finance Administrative Assistant Lisa Burkemper. Commissioner Charles Bennett was absent. This was the first meeting for the two new members of the Finance Commission Rich Micelli and Lee Williams. Commissioner Rich Micelli and Commissioner Lee Williams replaced Ann Hull and Brian McPartlin who both resigned. II. AM PPROVAL OF INUTES Commissioner Vince Grochocinski motioned to approve the minutes of January 27, 2005. Commissioner Ann Smilanic seconded the motion and the minutes were accepted as presented. III. CDRP2005 WP ONTINUED ISCUSSION EGARDING ROPOSED ORK LAN Chairman John Korn began by stating the discussion on the 2005 work plan would be deferred until after the discussion about the combine sewer repairs. IV. DCSR ISCUSSION ON OMBINE EWER EPAIRS Deputy Director of Public Works Sean Dorsey began with an overview of the process involved in televising the combine sewers throughout the village, gathering the information needed to evaluate the areas that need to be fixed and determining the order in which they will be fixed. Commissioner Tom Pekras asked what the diameter of a typical sewer is. Mr. Dorsey stated that on average the combined sewers are approximately 15 – 18 inches in diameter. Chairman John Korn asked where the sewers were located. Mr. Dorsey stated that the majority of the sewers run down the middle of the streets. Commissioner Tom Pekras asked what the life expectancy of the cured in place process was. Deputy Director Dorsey stated that it is approximately 50 – 70 years. Deputy Director Dorsey further explained the total repairs and the anticipated costs for each of the repair categories. The following is a summary of the total anticipated costs which total an estimated $14,426,000: Category 5 (most urgent) $2,480,000 Category 4 $2,548,000 Category 3 $5,240,000 Category 2 $4,158,000 Category 1 $0 Commissioner Ann Smilanic asked if the village would go out to bid to contract for the work. Director of Public Works Glen Andler stated that the village would go to bid because there are several companies that perform this type of repair work. Mr. Dorsey added that the repair plan would probably run over a period of 10 years, with the categories 5 and 4 being handled in years 1 – 3 and categories 3 and 2 between years 4 – 10. Rich Commissioner Micelli asked if there were any external funds available for this type of repair work. Mr. Andler stated that there is no federal funding or low interest money available. Director of Finance David Erb raised the question of possibly borrowing money to cover the first two years of the project to get a jump-start on the critical areas. Commissioner Ann Smilanic mentioned the option of doubling the sewer rate. Deputy Director of Finance Carol Widmer stated that doubling the sewer rate would generate roughly $500,000 per year. Chairman John Korn asked what the timing was for the Finance Commission in making recommendations on possible financing plans. Mr. Erb stated that the topic would first be addressed in May at the Long Range Financial Plan discussions. Commissioner Ann Smilanic stated that there should be publicity about this project so that the residents are aware of the condition of the combine sewers, what is needed in the coming years for repairs and how critical the repairs are. Commissioner Tom Pekras agrees that with the village’s fiscal position and the urgency for the first three years of the program, issuing debt would be a good idea. Commissioner Vince Grochocinski stated that he opposed borrowing any money to help fund the sewer repairs. Commissioner Lee Williams stated that instead of doubling the sewer rate in year one, maybe the rate could be steadily increased so that it wouldn’t be such a drastic increase at one time. CDRP2005 WP ONTINUED ISCUSSION EGARDING ROPOSED ORK LAN There was a brief discussion regarding the commission’s 2005 work plan. It was decided that the topics originally scheduled for March, which included Revenue Alternatives, Funding for the Sewer Repair Project and the Long-Range Financial Plan II would be moved to April. will All other items on the work plan remain the same. V. C’R HAIRMANS EPORT Chairman John Korn highlighted the topics discussed at the board meetings that have taken place recently. VI. FD’R INANCE IRECTORS EPORT Director of Finance David Erb circulated a copy of the member information list and asked all commissioners to provide updated information. VII. OB THER USINESS There was nothing to discuss. VIII. NM: A28, 2005 EXT EETINGPRIL Rich Commissioner Tom Pekras motioned to adjourn which Commissioner Micelli seconded. The meeting was adjourned at 8:45 p.m. The next meeting will be Thursday, April 28, 2005. Respectfully submitted, Lisa Burkemper Administrative Assistant Finance Department 2