Many of the items on tonight’s agenda were discussed at the workshop on November 10th – that summary is located here https://www.citizensforfoster.com/post/november-10th-2020-workshop
All the items on consent remain the same. On Legislation we had third readings for 20-125 – a resolution allowing for extension of VoIP agreements for Velocity (and an expense reduction) 20-126 – a resolution to not implement the residential development allocation system during calendar 2021.
20-144 – A resolution authorizing the city manager to enter into a job creation grant agreement with Diebold Nixdorf, inc, and declaring an emergency.
Those items passed 6-0.
Most of our evening was taken up with an early start to interview candidates for various boards and commissions. We started at 6pm tonight and will for the next couple weeks.
Council received a financial update as we have regularly this year, monitoring financial health during Covid. Our revenues have remained strong as a city despite many problems experienced in larger cities such as Cleveland, which is looking at a $25 million revenue shortfall this fiscal year.
Council reviewed the recently revised connectivity plan and discussed funding options as it relates to the 5 year plan. Council has largely agreed that we want to move on connectivity aggressively. It has been an area the community has wanted to see completed, yet only partially funded here or there without a clear plan to drive the entire project home. We reviewed debt falling off in years to come, available money in Parks and the General Fund, trimmed back where we could (such as $110k reduction in City Hall window replacement over the years – every cent counts!). This plan shows almost all of the connectivity plan could be completed by 2025, and some of the most significant areas done by or before 2022 such as Middleton road (from 91 to Highpoint Park), portions of Stow Road, and Herrick Park Dr. In Ward 2 we would see connections from Terex H&B Path near Barlow all the way to 91 (along Terex, connecting to Barlow mid-way, sidewalks continuing east to 91). We will see Valley View Road from Hines Hill to Hunting Hollow Dr. Sidewalk. A connection from Hines Hill & Prospect to a Metropark trail behind Maple Grove / Ashbrooke. Coming from the Parks Capital Fund we would also see a completed Boston Mills connection from Executive Parkway to Lake Forest Drive. Sidewalks connecting Boston Mill to Atterbury are accounted for as well.
For a quick look – the connections and their specific costs and schedules are located here http://hudson.legistar.com/gateway.aspx?M=F&ID=01838ff2-ce8a-4bf7-b44f-8011cffa23af.pdf
The updated 5 year plan pages specific to some of these items are here, with our balance carry forward ratio on page 3, and debt loan on page 2.
Of the $20 million for the entire connectivity plan we would issue $9 million in notes to be converted to bonds once the entire plan is complete. By doing this we would be able to maintain a 40% Ratio ending balance year over year (actually 39.97% in 2025… pretty close). Council agreed that we would like to see the 5 year plan amended to include these items so the amended version could be passed on its 3rd reading.