HomeMy WebLinkAbout2004-01-15 Council minutesDate: January 22, 2004
To: Mayor and City Council
From: Marian K. Kart, City Clerk
Re: Council Budget Work Session, January 15, 2004, 8:35 AM in Emma J. Harvat Hall
Council: Bailey, Champion, Elliott, Lehman, O'Donnell, Vanderhoef, Wilburn
Staff: Atkins, Helling, Kart, O'MaIley, Healing, Mansfield, Lewis, Winkelhake, Knoche,
Trueblood, Davidson, Fosse, Franklin, Rocca
Tapes: 04-08, Side 2; 04-10, Both Sides; 04-11, Side 1
(A complete transcription and materials distributed are available in the City Clerk's Office)
CAPITAL IMPROVEMENT PROJECTS
City Manager Atkins introduced department representatives for discussion of the projects
(pages Cl-C9 back of budget book).
PROJECT NAME STAFF
64-1A Plaza Towers - Finance Director O'Malley
Burlington Street Bridge at Ralston Creek - City Engr. Knoche
Camp Cardinal Road - Asst. PCD Director Davidson and Public Works
Director Fosse
Capital Outlay - General Fund - City Manager Atkins
Court Street Transportation Center - Asst. PCD Director Davidson
Dodge Street Reconstruction 180 to Governor - City Engr. Knoche, City Manager Atkins, Asst.
PCD Director Davidson (moved to FY06)
Dubuque Street & Foster Road Intersection - City Engr. Knoche, City Manager Atkins, PCD
Director Franklin, Asst. PCD Director Davidson
Economic Development - City Manager Atkins
Emergency Communications Radio System - Police Chief Winkelhake, Fire Chief Rocca
Fire Apparatus - Fire Chief Rocca, City Manager Atkins
Fire Station #4
Gilbert Street/Highway 6: Dual left turn - Asst. PCD Director Davidson
Landfill Cell - Public Works Director Fosse
Lower West Branch Road - PCD Director Franklin
Meadow Street Bridge & Trail Connection - City Engr. Knoche (move to FY05)
Melrose & Grand Avenue Intersection - Asst. PCD Director Davidson (move to FY04)
Miller - Orchard Park - Parks & Rec. Director Trueblood, Asst. PCD
Director Davidson
Missing Link Trail - Parks & Rec. Director Trueblood, Asst. PCD
Director Davidson
Mormon Trek - Hwy I to Hwy 921 City Engr. Knoche, Finance Director O'Malley
Dane Road Area Sewer
Council Work Session
Januaw 15,2004
Page 2
Old Bus Depot Land Acquisition City Manager Atkins
Parking Garage Maintenance City Manager Atkins
Riparian Restoration - Corps of Engineers - PCD Director Franklin (move to FY05)
Peninsula & Waterworks Parks
Runway Extension - City Manager Atkins
Sand Road City Engr. Knoche
Stormwater Permits, Plans - City Manager Atkins, Public Works Director
Fosse
Targeted Areas Housing Rehab Projects - City Manager Atkins, PCD Director Franklin
Transit Capital Outlay - 3 buses & 21 cameras -Asst. PCD Director Davidson
Water Distribution Building - City Manager Atkins, Public Works Director
Fosse, PCD Director Franklin
During discussion Council requested:
· An update of unfunded projects, especially ranking critical bridges for lobbying state
legislature
· Sale of property options relative to water distribution building
· Update from Parking statistics on use of ramps since changes made in permits
SCHEDULE
The City Manager noted the following schedule:
January 20 - 6:15 PM start of special work session, preceding the 7:00 formal
January 21 - 4:00 Joint meeting at County Administration Building
January 22 - 1:00 - 4:00 PM (list of decisions to be prepared by City Manager and distributed
after formal meeting of the 20th); open budget discussion
January 27 - Schedule presentation with Library Board and Parks & Recreation; allow open
budget discussion
Council agreed to set public hearing on the budget February 3 for a special formal on March 1
(same night as the regular work session). This would allow all 7 Council Members to be present
for the public hearing and vote on the budget, provide for not voting on the budget the same
night as the hearing, and require no special meetings. A special meeting could be scheduled if
information was received on March 1 at the hearing and Council requested deferral.
Meeting adjourned ? PM.
ROAD USE TAX FUND
RESERVE STATUS
Assumptions:
· RUT formula will not change
· If so, we can use $1.5 of RUT Reserve
· For what purpose-must be road or right-of-way
related
· Can be used for an additional road project
OR
· Finance another project by substituting RUT
for G.O. Debt
OR
· Reduce debt service levy
OR
· Do nothing - leave reserve as is
· How: Go to unfunded list
Review staff options
City of Iowa City, Iowa
List of Debt $izing/$tructurin9 Assumptions
$7,305,000 Taxable General Obligation Urban Renewal Bonds, Series 2004
1. Sale date of February 3, 2004;
Dated date of March t, 2004;
Maximum principal repayment period (20 years from dated date);
4. Principal repayments to begin on .Tune 1, 2008 with payments to effect a
level debt service structure;
§. Znterest repayments to begin on December :~, 2004;
6. Construction draw downs, in equal monthly amounts, from March 2004
through April 2005;
7. Pro~ect Construction Fund, net funded, to provide $6,000,000 (using an
estimated interest rate of 0?)0% on the draws outlined above);
8. Capitalized interest, net funded, through .Tune :i, 2007 (using an estimated
interest rate of 1.50%);
9. Current market rates for "Aaa" rated taxable, general obligation bonds plus
tO basis points; and
lO. Other expenses of approximately $60,000 cost of issuance and 0.8%
maximum Underwriter Discount.
Prepared by Public Financial Management, Znc.
January 8, ;]004
$7,305,000 Taxable General Obligation Urban Rene~val Bonds, Series 2004
City of Iowa City, Iowa
Preliminary Schedule -January 8, 2004
Current Market Rates + 10 bpls
DEBT SRRV1CE SCHEDULE
Date Principal Coupotl Inleresl Tolal P+I FISCAL TOTAL
3/01/2004
12/01/2004 287,662.50 Z87,662 50
6/01/2005 191,775.00 19t~775.00 479,437.50
YIELD STATISTICS
True Interest Cost (TIC) ............................................................................................... 5527¢036%
Bond Yield lior Arbilra~e ?ur[:oses ............................................................................. 5.437~;087%
City of Iowa City
Special Council Work Session
Radio System Upgrade
January 15, 2004
I. History of the present radio system (R J)
A. Replaced multiple VHF radio systems in 1991 1. One system city-wide with five channels
2. Upgraded to six channels in 1999
3. Capacity for a seventh channel
B. Additional users (approximately 600 users) 1. UI Police, Parking, and Cambus
2. JCAS
3. University Heights PD
II. Condition of the present radio system (Andy)
A. Controllers
1. 6 controllers
2. 4 need to be replaced
a. $20,000 per controller
b. Back-up tower site
B. Radios
1. Mobiles-supported
2. Portables-MTS obsolete (not supported-parts not available)
a. Fire/Police replacement
b. Analog/digital capable
3. Communications Center
a. Console upgrades-$189,000
i. $28,000 City funds
ii. $25,000 911 funds
iii. Balance was law enfomement grants
III. Future radio system needs (RJ)
A. 4 controllers ~ $20,000 each
B. Additional controller to meet system demands
C. Infrastructure
1. Built-in obsolescence
2. CAD upgrades
3. Annual maintenance
4. County-wide expansion
D. Consultant
1. Technology
2. Interoperability issues
3. Complexity
4. System design based on identified needs/demands
IV. Recommendation (Andy)
A. Upgrade existing radio system-S100,000
B. Plan for the replacement of the existing radio system
C. Regional or county-wide approach
D. Based on consultant recommendations
V. Questions