HomeMy WebLinkAboutMN-CC-2011-08-31COMMON COUNCIL PROCEEDINGS
CITY OF ITHACA, NEW YORK
Special Meeting 5:30 p.m. August 31, 2011
PRESENT:
Mayor Peterson
Alderpersons (10) McGonigal, Dotson, Rosario, Clairborne, McCollister, Zumoff, Rooker,
Myrick, Cogan, Mohlenhoff
OTHERS PRESENT:
City Clerk – Conley Holcomb
City Controller – Thayer
Superintendent of Public Works – Gray
SPECIAL ORDER OF BUSINESS:
Mayor Peterson announced that Item 1.2 – Approval of Easement for Emerson Power
Transmission Vent Stack (re: South Hill Remediation Project) – Resolution has been withdrawn
from the agenda. She explained that due to construction schedules, the project can not be
completed in 2011. She noted that conversations with the neighborhood would be continued.
1.1 Capital Project Budget Presentation
Alderperson Rosario, Chair of the Ad-hoc Capital Project Committee reviewed the work of the
committee in developing a 5-year Capital Project Outlook. One of the goals of this work was to
ensure continuity of projects between mayoral administrations. The committee:
• Identified and formalized criteria used in order for projects to be placed on the approved
capital project list.
• Added a scoring system to the criteria (ie. if a project leverages other funds)
• Revised the capital project request form
Alderperson Rosario noted that the 5-year outlook is a living document that will be evaluated
and improved as needed. He explained that compliance with the new system wasn’t as strong
as had been hoped for in 2011; however, the Department of Public Works and the Engineering
Division embraced the system.
Alderperson Rosario recognized Superintendent of Public Works Bill Gray, City Planner Jennifer
Kusznir, Assistant Civil Engineer Tom West, Planning and Development Director JoAnn
Cornish, City Controller Steve Thayer, former Alderperson Maria Coles, and Mayor Peterson for
their efforts on this important initiative.
Mayor Peterson added that the Capital Review Committee invited applicants to attend meetings
to support their projects during the review process. She further noted that the Capital Review
Committee scoring system is still under discussion.
City Controller Thayer explained that there were many capital project requests but little funding
available. He noted that it is difficult to find the balance between needs and available funding.
He stated that projects with reimbursements to the city were weighted favorably.
City Controller Thayer led a review of the projects on the approved list and answered questions
about several projects. He further provided Council with an update on the City’s debt level:
• 2012 debt service will be $7.5 million
• $4.9 million of debt will be retired in 2012
• The City has a high debt load so Council needs to remain cautious when considering
projects.
• The City has maintained a AA2 Bond Rating
• He is looking at debt refinancing options as it could save the City approximately
$300,000.
• He explained that short-term debt is a 1-year note; long-term debt is a 2-40 year note
1.2 Attorney's Office - Approval of Easement for Emerson Power Transmission Vent
Stack (Re: South Hill Remediation Project) - Resolution
This item was withdrawn from the agenda.
ADJOURNMENT
On a motion the meeting adjourned at 6:55 p.m.
______________________________ _______________________________
Julie Conley Holcomb, CMC Carolyn K. Peterson,
City Clerk Mayor