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10-05-11 Common Council Meeting Agenda
OFFICIAL NOTICE OF MEETING A Regular meeting of the Corr9�mon Council will be held on Wednesday, October 5, 2011, at 6:00 p.m. in the Confmon Council Chambers at City Hall, 108 East Green Street, Ithaca, New York. Your attendance is requested. AGENDA 1. PLEDGE OF ALLEGIANCE: 2. ADDITIONS TO OR DELETIONS FROM THE AGENDA: 3. PROCLAMATIONS /AWARDS: 4. SPECIAL ORDER OF BUSINESS: 5. SPECIAL PRESENTATIONS BEFORE COUNCIL: 6. PETITIONS AND HEARINGS OF PERSONS BEFORE COUNCIL: 7. PRIVILEGE OF THE FLOOR— COMMON COUNCIL AND THE MAYOR: 8. CONSENT AGENDA ITEMS: City Administration Committee: 8.1 Finance /Controllers Office — Request to Amend 2011 Budget for Various Reimbursements — Resolution New Business: 8.2 Appointment of Marriage Officer — Resolution 9. CITY ADMINISTRATION COMMITTEE: 9.1 Common Council - A Local Law to Override the Tax Levy Limit Established in General Municipal Law 9.2 Refunding Bond Resolution Dated October 5, 2011 - A Resolution Authorizing the Issuance Pursuant to Section 90.10 of the Local Finance Law of Refunding Bonds of the City of Ithaca, Tompkins County, New York, to be Designated Substantially "Public Improvement (Serial) Bonds ", and Providing for Other Matters in Relation Thereto and the Payment of the Bonds to be Refunded Thereby 9.3 City Controllers Report - Mayor Peterson Presentation of Proposed 2012 City of Ithaca Budget Common Council Agenda October 5, 2011 Page 2 10. PLANNING AND ECONOMIC DEVELOPMENT COMMITTEE: 10.1 An Ordinance to Amend the City of Ithaca Municipal Code, Chapter 325, Entitled 'Zoning" to Amend the Waterfront Zoning District and to Change the Zoning Designation of Certain Areas of the City A. Declaration of Lead Agency- Resolution B. Determination of Environmental Significance - Resolution C. Adoption of Ordinance 11. REPORTS OF SPECIAL COMMITTEES: 12. NEW BUSINESS: 13. INDIVIDUAL MEMBER— FILED RESOLUTIONS: 13.1 Alderperson Clairbome - Resolution to Cornell University Administrators Regarding the Change in Status for the African Studies and Research Center 14. MAYOR'S APPOINTMENTS: 14.1 Appointment to Natural Areas Commission — Resolution 14.2 Appointment of City of Ithaca Fire Chief — Resolution (to be distributed under separate cover) 15. REPORTS OF COMMON COUNCIL LIAISONS: 16. REPORT OF CITY CLERK: 17. REPORT OF CITY ATTORNEY: 18. MINUTES FROM PREVIOUS MEETINGS: 18.1 Approval of the August 31, 2011 Special Common Council Meeting Minutes — Resolution 18.2 Approval of the September 7, 2011 Regular Common Council Meeting Minutes — Resolution 19. ADJOURNMENT: Common Council Agenda October 5, 2011 Page 3 If you have a disability that will require special arrangements to be made in order for you to fully participate in the meeting, please contact the City Clerk at 274 -6570 at least 48 hours before the meeting. 1/1 t Ec ulie Conley Holcoi b, CIVIC City Clerk Date: September 29, 2011 9 8.1 WHEREAS, during 2011 City of Ithaca departments have received various reimbursements, sale of scrap metal and Community Celebrations Grants that were unanticipated and need to be accounted for, and WHEREAS, the reimbursements total $13,399 as follows: Sale of Scrap $ 266 Reimbursement of Tree Removal 3,683 Community Celebrations Grants 9.450 $13,399 now, therefore, be it RESOLVED, That Common Council hereby amends the 2011 Authorized Budget as follows to account for said receipt and expenditures of funds: Increase Revenue Accounts A1012 -2379 Celebrations $9,450 A5132 -2665 Garage Sale of Equipment 266 A7111 -1710 Parks & Forestry Services 3,428 A7111 -2655 Parks & Forestry Minor Sales 255 $13,399 Increase Appropriations Accounts: A1012 -5435 Celebrations $9,450 A5132 -5481 Garage Small Tools 266 A7111 -5485 Parks & Forestry Trees 3.683 $13,399 New Business: 8.2 Appointment of Marriage Officer— Resolution RESOLVED, That Michelle Courtney Berry be appointed as a Marriage Officer in the City of Ithaca for the month of November 2011. 9. 9.1 Local Law No. of the year 2011 BE IT ENACTED by the Common Council of the City of Ithaca as follows: Section 1. Legislative Intent It is the intent of this local law to allow the City of Ithaca to adopt a budget for the fiscal year commencing January 1, 2012, that requires a real property tax levy in excess of the "tax levy limit" as defined by General Municipal Law §3 -c. Section 2. Authority This local law is adopted pursuant to subdivision 5 of General Municipal Law §3 -c, which expressly authorizes a local government's governing body to override the property tax cap for the coming fiscal year by the adoption of a local law approved by a vote of sixty percent (60 %) of said governing body. Section 3. Tax Levy Limit Override The Common Council of the City of Ithaca, County of Tompkins, New York, is hereby authorized to adopt a budget for the fiscal year commencing January 1, 2012, that requires a real property tax levy in excess of the amount otherwise prescribed in General Municipal Law §3c. Section 4. Severability If a court determines that any clause, sentence, paragraph, subdivision, or part of this local law or the application thereof to any person, firm or corporation, or circumstance is invalid or unconstitutional, the court's order or judgment shall not affect, impair, or invalidate the remainder of this local law, but shall be confined in its operation to the clause, sentence, paragraph, subdivision, or part of this local law or in its application to the person, individual, firm or corporation or circumstance, directly involved in the controversy in which such judgment or order shall be rendered. Section S. Effective date This local law shall take effect immediately upon filing with the Secretary of State 9.2 WHEREAS, the City of Ithaca, Tompkins County, New York (hereinafter, the "City") heretofore issued an aggregate $5,152,750 Public Improvement (Serial) Bonds, 2001, pursuant to various bond resolutions and a bond certificate dated January 9, 2001 (the "2001 Bond Certificate"), to pay the cost of the various City improvements, as further described therein, such Public Improvement (Serial) Bonds, 2001, being dated January 15, 2001 and maturing or matured on January 15 annually (the "2001 Refunded Bonds "); and WHEREAS, the City heretofore issued an aggregate principal amount of $9,486,681 Public Improvement (Serial) Bonds, 2004, pursuant to various bond resolutions and a bond certificate dated December 18, 2003 (the "2003 Bond Certificate for the 2004 Bonds "), to pay the cost of the various City improvements, as further described therein, such Public Improvement (Serial) Bonds, 2004, being dated January 15, 2004 and maturing or matured on January 15 annually (the "2004 Refunded Bonds "); and WHEREAS, the City heretofore issued an aggregate principal amount of $6,285,947 Public Improvement (Serial) Bonds, 2004 Series B, pursuant to various bond resolutions and a bond certificate dated July 14, 2004, (the "2004B Bond Certificate ", together with the 2001 Bond Certificate and the 2003 Bond Certificate for the 2004 Bonds, the "Respective Bond Certificates "), to pay the cost of the various City improvements, as further described therein, such Public Improvement (Serial) Bonds, 2004 Series B, being dated August 1, 2004 and maturing or matured on August 1 annually (the "20046 Refunded Bonds "); and WHEREAS, the 2001, 2004 and 2004B Refunded Bonds are hereinafter sometimes referred to collectively as the "Refunded Bonds "; and WHEREAS, it would be in the public interest to refund all, or one or more, or a portion of one or more, of the $1,860,000 outstanding principal balance of the 2001 Refunded Bonds maturing in 2012 and thereafter, the $5,455,000 outstanding principal balance of the 2004 Refunded Bonds maturing in 2012 and thereafter, and the $4,035,000 outstanding principal balance of the 20048 Refunded Bonds maturing in 2012 and thereafter, each by the issuance of refunding bonds pursuant to Section 90.10 of the Local Finance Law; and WHEREAS, each of such refundings will individually result in present value savings in debt service as so required by Section 90.10 of the Local Finance Law; now, therefore, be it RESOLVED, by the Common Council of the City of Ithaca, Tompkins County, New York, as follows: Section 1. For the object or purpose of refunding the outstanding aggregate principal balance of the Refunded Bonds, including providing moneys which, together with the interest earned from the investment of certain of the proceeds of the refunding bonds herein authorized, shall be sufficient to pay (i) the principal amount of the Refunded Bonds, (ii) the aggregate amount of unmatured interest payable on the Refunded Bonds to and including the date on which the Refunded Bonds which are callable are to be called prior to their respective maturities in accordance with the refunding financial plan, as hereinafter defined, (iii) the costs and expenses incidental to the issuance of the refunding bonds herein authorized, including the development of the refunding financial plan, as hereinafter defined, compensation to the underwriter or underwriters, as hereinafter defined, costs and expenses of executing and performing the terns and conditions of the escrow contract or contracts, as hereinafter defined, and fees and charges of the escrow holder or holders, as hereinafter mentioned, (iv) the redemption premium to be paid on the Refunded Bonds which are to be called prior to their respective maturities, and (v) the premium or premiums for a policy or policies of municipal bond insurance or cost or costs of other credit enhancement facility or facilities, for the refunding bonds herein authorized, or any portion thereof, there are hereby authorized to be issued not exceeding $12,365,000 refunding bonds of the City pursuant to the provisions of Section 90.10 of the Local Finance Law (the "Public Improvement Refunding Bonds" or the "Refunding Bonds "), it being anticipated that the amount of Refunding Bonds actually to be issued will be approximately $11,245,000, as provided in Section 4 hereof. The Refunding Bonds described herein are hereby authorized to be consolidated for purposes of sale in one or more refunding bond issues. The Public Improvement Refunding Bonds shall each be designated substantially "PUBLIC IMPROVEMENT (SERIAL) BOND" together with such series designation and year as is appropriate on the date of sale thereof, shall be of the denomination of $5,000 or any integral multiple thereof (except for any odd denominations, if necessary) not exceeding the principal amount of each respective maturity, shall be numbered with the prefix R -11 (or R with the last two digits of the year in which the Refunding Bonds are issued as appropriate) followed by a dash and then from 1 upward, shall be dated on such dates, and shall mature annually on such dates in such years, bearing interest semi - annually on such dates, at the rate or rates of interest per annum, as may be necessary to sell the same, all as shall be determined by the City Controller pursuant to Section 4 hereof. It is hereby further determined that (a) such Refunding Bonds may be issued in series, (b) such Refunding Bonds may be sold at a discount in the manner authorized by paragraph a of Section 57.00 of the Local Finance Law pursuant to subdivision 2 of paragraph f of Section 90.10 of the Local Finance Law, and (c) such Refunding Bonds may be issued as a single consolidated issue. It is hereby further determined that such Refunding Bonds may be issued to refund all, or any portion of, the Refunded Bonds, subject to the limitation hereinafter described in Section 10 hereof relating to approval by the State Comptroller. Section 2. The Refunding Bonds may be subject to redemption prior to maturity upon such terms as the City Controller shall prescribe, which terms shall be in compliance with the requirements of Section 53.00 (b) of the Local Finance Law. If less than all of the Refunding Bonds of any maturity are to be redeemed, the particular refunding bonds of such maturity to be redeemed shall be selected by the City by lot in any customary manner of selection as determined by the City Controller. The Refunding Bonds shall be issued in registered form and shall not be registrable to bearer or convertible into bearer coupon form. In the event said Refunding Bonds are issued in non-certificated form, such bonds, when issued, shall be initially issued in registered form in denominations such that one bond shall be issued for each maturity of bonds and shall be registered in the name of Cede & Co., as nominee of The Depository Trust Company, New York, New York ( "DTC "), which will act as securities depository for the bonds in accordance with the Book - Entry-Only system of DTC. In the event that either DTC shall discontinue the Book- Entry-Only system or the City shall terminate its participation in such Book - Entry-Only system, such bonds shall thereafter be issued in certificated form of the denomination of $5,000 each or any integral multiple thereof (except for any odd denominations, if necessary) not exceeding the principal amount of each respective maturity. In the case of non - certificated Refunding Bonds, principal of and interest on the bonds shall be payable by check or draft mailed by the Fiscal Agent (as hereinafter defined) to The Depository Trust Company, New York, New York, or to its nominee, Cede & Co., while the bonds are registered in the name of Cede & Co. in accordance with such Book - Entry-Only System. Principal shall only be payable upon surrender of the bonds at the principal corporate trust office of such Fiscal Agent (or at the office of the City Controller as Fiscal Agent as hereinafter provided). In the event said Refunding Bonds are issued in certificated form, principal of and interest on the Refunding Bonds shall be payable by check or draft mailed by the Fiscal Agent (as hereinafter defined) to the registered owners of the Refunding Bonds as shown on the registration books of the City maintained by the Fiscal Agent (as hereinafter defined), as of the close of business on the fifteenth day of the calendar month or first business day of the calendar month preceding each interest payment date as appropriate and as provided in a certificate of the City Controller providing for the details of the Refunding Bonds. Principal shall only be payable upon surrender of bonds at the principal corporate trust office of a bank or trust company or banks or trust companies located or authorized to do business in the State of New York, as shall hereafter be designated by the City Controller as fiscal agent of the City for the Refunding Bonds (collectively the "Fiscal Agent "). Refunding Bonds in certificated form may be transferred or exchanged at any time prior to maturity at the principal corporate trust office of the Fiscal Agent for bonds of the same maturity of any authorized denomination or denominations in the same aggregate principal amount. Principal and interest on the Refunding Bonds will be payable in lawful money of the United States of America. The City Controller, as chief fiscal officer of the City, is hereby authorized and directed to enter into an agreement or agreements containing such terms and conditions as he shall deem proper with the Fiscal Agent, for the purpose of having such bank or trust company or banks or trust companies act, in connection with the Refunding Bonds, as the Fiscal Agent for said City, to perform the services described in Section 70.00 of the Local Finance Law, and to execute such agreement or agreements on behalf of the City, regardless of whether the Refunding Bonds are initially issued in certificated or non - certificated form; provided, however, that the City Controller is also hereby authorized to act as the Fiscal Agent in connection with the Refunding Bonds if said Refunding Bonds are issued in non- certificated form. The City Controller is hereby further delegated all powers of this Common Council with respect to agreements for credit enhancement, derived from and pursuant to Section 168.00 of the Local Finance Law, for said Refunding Bonds, including, but not limited to the determination of the provider of such credit enhancement facility or facilities and the terms and contents of any agreement or agreements related thereto. The Refunding Bonds shall be executed in the name of the City by the manual or facsimile signature of the City Controller, and a facsimile of its corporate seal shall be imprinted thereon. In the event of facsimile signature, the Refunding Bonds shall be authenticated by the manual signature of an authorized officer or employee of the Fiscal Agent. The Refunding Bonds shall contain the recital required by subdivision 4 of paragraph j of Section 90.10 of the Local Finance Law and the recital of validity clause provided for in Section 52.00 of the Local Finance Law and shall otherwise be in such form and contain such recitals, in addition to those required by Section 51.00 of the Local Finance Law, as the City Controller shall determine. It is hereby determined that it is to the financial advantage of the City not to impose and collect from registered owners of the Refunding Bonds any charges for mailing, shipping and insuring bonds transferred or exchanged by the Fiscal Agent, and, accordingly, pursuant to paragraph c of Section 70.00 of the Local Finance Law, no such charges shall be so collected by the Fiscal Agent. Section 3. It is hereby determined that: (a) the maximum amount of the Refunding Bonds authorized to be issued pursuant to this resolution does not exceed the limitation imposed by subdivision 1 of paragraph b of Section 90.10 of the Local Finance Law; (b) the maximum period of probable usefulness permitted by law at the time of the issuance of the respective Refunded Bonds, for each of the objects or purposes for which such respective Refunded Bonds were issued is as provided in the Respective Bond Certificate, hereby incorporated herein by reference; (c) the last installment of the Refunding Bonds will mature not later than the expiration of the period of probable usefulness of each of the objects or purposes for which said respective Refunded Bonds were issued in accordance with the provisions of subdivision 1 of paragraph c of Section 90.10 of the Local Finance Law; (d) the estimated present value of the total debt service savings anticipated as a result of the issuance of the Refunding Bonds, if any, computed in accordance with the provisions of subdivision 2 of paragraph b of Section 90.10 of the Local Finance Law, with regard to each of the respective series of Refunded Bonds, is as shown in the Refunding Financial Plan described in Section 4 hereof. Section 4. The financial plan for the aggregate of the refundings authorized by this resolution (collectively, the "Refunding Financial Plan "), showing the sources and amounts of all moneys required to accomplish such refundings, the estimated present value of the total debt service savings and the basis for the computation of the aforesaid estimated present value of total debt service savings, are set forth in Exhibit A attached hereto and made a part of this resolution. The Refunding Financial Plan has been prepared based upon the assumption that the Refunding Bonds will be issued in one series to refund all of the Refunded Bonds in the principal amount of $11,245,000, and that the Refunding Bonds will mature, be of such terms, and bear interest as set forth on Exhibit A attached hereto and made a part of this resolution. This Common Council recognizes that the Refunding Bonds may be issued in one or more series, and for only one or more of the Refunded Bonds, or portions thereof, that the amount of the Refunding Bonds, maturities, terms, and interest rate or rates borne by the Refunding Bonds to be issued by the City will most probably be different from such assumptions and that the Refunding Financial Plan will also most probably be different from that attached hereto as Exhibit A. The City Controller is hereby authorized and directed to determine which of the Refunded Bonds will be refunded and at what time, the amount of the Refunding Bonds to be issued, the date or dates of such bonds and the date or dates of issue, maturities and terms thereof, the provisions relating to the redemption of Refunding Bonds prior to maturity, whether the Refunding Bonds will be insured by a policy or policies of municipal bond insurance or otherwise enhanced by a credit enhancement facility or facilities, whether the Refunding Bonds shall be sold at a discount in the manner authorized by paragraph a of Section 57.00 of the Local Finance Law, and the rate or rates of interest to be borne thereby, whether the Refunding Bonds shall be issued having substantially level or declining annual debt service and all matters related thereto, and to prepare, or cause to be provided, a final Refunding Financial Plan for the Refunding Bonds and all powers in connection therewith are hereby delegated to the City Controller; provided, that the terms of the Refunding Bonds to be issued, including the rate or rates of interest borne thereby, shall comply with the requirements of Section 90.10 of the Local Finance Law. The City Controller shall file a copy of his certificates determining the details of the Refunding Bonds and the final Refunding Financial Plan with the City Clerk not later than ten (10) days after the delivery of the Refunding Bonds, as herein provided. Section 5. The City Controller is hereby authorized and directed to enter into an escrow contract or contracts (collectively the "Escrow Contract") with a bank or trust company, or with banks or trust companies, located and authorized to do business in this State as said City Controller shall designate (collectively the "Escrow Holder") for the purpose of having the Escrow Holder act, in connection with the Refunding Bonds, as the escrow holder to perform the services described in Section 90.10 of the Local Finance Law. Section 6. The faith and credit of said City of Ithaca, Tompkins County, New York, are hereby irrevocably pledged to the payment of the principal of and interest on the Refunding Bonds as the same respectively become due and payable. An annual appropriation shall be made in each year sufficient to pay the principal of and interest on such bonds becoming due and payable in such year. There shall be annually levied on all the taxable real property in said City a tax sufficient to pay the principal of and interest on such Refunding Bonds as the same become due and payable. Section 7. All of the proceeds from the sale of the Refunding Bonds, including the premium, if any, but excluding accrued interest thereon, shall immediately upon receipt thereof be placed in escrow with the Escrow Holder for the Refunded Bonds. Accrued interest on the Refunding Bonds shall be paid to the City to be expended to pay interest on the Refunding Bonds. Such proceeds as are deposited in the escrow deposit fund to be created and established pursuant to the Escrow Contract, whether in the form of cash or investments, or both, inclusive of any interest earned from the investment thereof, shall be irrevocably committed and pledged to the payment of the principal of and interest on the Refunded Bonds in accordance with Section 90.10 of the Local Finance Law, and the holders, from time to time, of the Refunded Bonds shall have a lien upon such moneys held by the Escrow Holder. Such pledge and lien shall become valid and binding upon the issuance of the Refunding Bonds and the moneys and investments held by the Escrow Holder for the Refunded Bonds in the escrow deposit fund shall immediately be subject thereto without any further act. Such pledge and lien shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the City irrespective of whether such parties have notice thereof. Section 8. Notwithstanding any other provision of this resolution, so long as any of the Refunding Bonds shall be outstanding, the City shall not use, or permit the use of, any proceeds from the sale of the Refunding Bonds in any manner which would cause the Refunding Bonds to be an "arbitrage bond" as defined in Section 148 of the Internal Revenue Code of 1986, as amended, and, to the extent applicable, the Regulations promulgated by the United States Treasury Department thereunder. Section 9. In accordance with the provisions of Section 53.00 and of paragraph h of Section 90.10 of the Local Finance Law, in the event such bonds are refunded, the City hereby elects to call in and redeem each respective series of Refunded Bonds which the City Controller shall determine to be refunded in accordance with the provisions of Section 4 hereof and with regard to which the right of early redemption exists. The sum to be paid therefor on such redemption date shall be the par value thereof plus the redemption premium, and the accrued interest to such redemption date. The Escrow Agent for the Refunding Bonds is hereby authorized and directed to cause notice of such call for redemption to be given in the name of the City in the manner and within the times provided in the Refunded Bonds. Such notice of redemption shall be in substantially the form attached to the Escrow Contract. Upon the issuance of the Refunding Bonds, the election to call in and redeem the callable Refunded Bonds and the direction to the Escrow Agent to cause notice thereof to be given as provided in this paragraph shall become irrevocable, provided that this paragraph may be amended from time to time as may be necessary in order to comply with the publication requirements of paragraph a of Section 53.00 of the Local Finance Law, or any successor law thereto. Section 10. The Refunding Bonds shall be sold at public competitive sale or private sale to Jefferies & Company (the "Underwriter") for purchase prices to be determined by the City Controller, plus accrued interest from the date or dates of the Refunding Bonds to the date or dates of the delivery of and payment for the Refunding Bonds. Subject to the approval of the terms and conditions of such private sale by the State Comptroller as required by subdivision 2 of paragraph f of Section 90.10 of the Local Finance Law, the City Controller is hereby authorized to execute and deliver a purchase contract for the Refunding Bonds in the name and on behalf of the City providing the terms and conditions for the sale and delivery of the Refunding Bonds. After the Refunding Bonds have been duly executed, they shall be delivered by the City Controller to the purchaser in accordance with said purchase contract upon the receipt by the City of said purchase price, including accrued interest. Section 11. The City Controller and all other officers, employees and agents of the City are hereby authorized and directed for and on behalf of the City to execute and deliver all certificates and other documents, perform all acts and do all things required or contemplated to be executed, performed or done by this resolution or any document or agreement approved hereby. Section 12. All other matters pertaining to the terms and issuance of the Refunding Bonds shall be determined by the City Controller and all powers in connection thereof are hereby delegated to the City Controller. Section 13. The validity of the Refunding Bonds may be contested only if: 1. Such obligations are authorized for an object or purpose for which said City is not authorized to expend money, or 2. The provisions of law which should be complied with at the date of publication of this resolution are not substantially complied with, and an action, suit or proceeding contesting such validity is commenced within twenty days after the date of such publication, or 3. Such obligations are authorized in violation of the provisions of the Constitution. Section 14. A summary of this resolution, which takes effect immediately, shall be published in the official newspapers of said City, together with a notice of the City Clerk in substantially the form provided in Section 81.00 of the Local Finance Law. Dated: October 5, 2011. City of Ithaca Tompkins County, New York Refunding Total Issue Sources And Dated 10120120111 Delivered 10/20/2011 Uses Ref of Series 2001 Ref of Series 2004 Ref of Series 20046 Issue Summary Sources Of Funds Par Amount of Bonds $1,835,000.00 $5,385,000.00 $4,025,000.00 $11,245,000.00 Reoffer —U'um 8945020 432154.90 371,735.00 893340.10 Totel SOerctl 31924,450.20 $5,817,154.90 34396,73500 $12,138340.10 Uses Of Funds ToW Undemritets Deonunt 9,175.00 26,925.00 20,125.00 56,225.00 Cosnoflmuna 11,422.85 33,521.57 25,055.58 70,000.00 ^^posit to Na Cob &M. Ford 190095489 57543856fi 4349570.64 12,004,911.19 Rounding Am mt 289746 2322.67 1,983.78 7,203.91 ToW UM $1,924,45010 35,817,150.90 34396,73500 $12,138,740.10 CM a 1. Rau I W-SU 1 800011 14:43 PM a4 City of Ithaca Tompkins County, New York Refunding Pricing Summary Type of Maturity Bond Coupon Yield Maturity Value Price Dollar Price 01/152012 Serial Coupon 2.500% 0.400% 1,180,000.00 IW.4%% 1,185,829.20 08/012012 Serial Coupon 2.500°6 0.470% 410,000.00 101.579% 416,473.90 011[52013 Serial Coupon 3.000% 0.550% 1,160,000.00 103.013%. 1,194,950.80 081012013 Serial Coupon 3.000% 0.600% 405,000.00 104.243% 422,184.15 01/152014 Serial Coupon 3.250% 0.680°4 1,190,000.00 105.693% 1,257,746.70 081012014 Serial Coupon 3.000%. 0.730%. 400,000.00 106.236% 424,944.00 011152015 Serial Coupon 4.000% 0.890% 1,235,000.00 109.897% 1,357,217.95 08/012015 Serial Coupon 3250% 0.940% 420,000.00 108.559% 455,94710 01/152016 Serial Coupon 4.000% 1.240% 780,000.00 111.354% 868,561.20 08/012016 Serial Coupon 3.500% 1.290% 445,000.00 110.212% 490,443.40 01/152017 Serial Coupon 4.000% 1.580% 825,000.00 112.113% 924,932.25 081012017 Serial Coupon 4.0D0°h 1.630% 460,000.00 113.021% 519,896.60 011152018 Serial Coupon 4.000% 1.940'6 850,000.00 111042% 952,357.00 081012018 Serial Coupon 4.OW% 1.980% 480,000.00 112.755% 541,224.00 081012019 Sena] Coupon 4.000% 2.260% 490,000.00 112.348% 550,505.20 08/012020 Serial Coupon 4.000% 2.510% 515,000.00 111.673% 575,115.95 Total S11,245,W0.00 512,138,340.10 Bid Information Par AaenntofBonds $11,245,000.00 Reoffering Premium or (Discount) 893,34010 Gross Production $12,138,340.10 Total Underwriter's Discount (0.500%) 5(56,225.00) Bid(107.444 ° /.) 12,082.115.10 Total purchase prim 512,082,115.10 Bond Year Dollars $41,41146 Average Li& 3.683 Years Avenge Coupon 3.7967840Y. NalaaaeaCost(NIC) 1.7753263% True low= Can(nc) 1.6728101% Ckol INa' ReNdiq I Iuue Summary I a3b1n11 I t0.l PM Company Municipal Securities Group 2 City of Ithaca Tompkins County, New York Refunding Debt Service Schedule Data Principal Coupon Imneet Total P +I Fiscal Total 01/15/2012 1,180.000.00 2.500% 59,163.54 1.239,163.54 - - - 39,6375] 39,67].5] - V/1512012 - - 110,53750 11,53].50 - o "InO12 08N12012 41000000 350% 7071250 480,71250 - IWIWI2 011152013 1,16,000.00 3,000% 110537.50 1,3]0337.50 - 02/012013 - - 65587.50 6558].50 - 07/152013 - - 93.13730 93,137.50 - OMI2013 405000.00 3.000% 65587.50 470,58].50 - 12212013 - - - - 1,899,850.00 01/152014 1,190,000.00 3.230% 93,137.50 1,283,137.50 - OZA12014 - - 3951230 5951250 - 07/152O14 - - n,80.0 n,80.0 - 08012014 000000 3000% 59512.50 459512.50 12212014 - - - Lw.962.50 01/152015 1,235,000.00 4.000% n.800.00 1,308,800.00 - =12015 - - 53,51mo 53512.50 - OWIMO15 - - 49,100.00 49,100.00 - 0&812015 42000000 3250% 5351250 4n51250 12212015 - - - 1,884,925.0 01/152016 780.o00.o0 4.00% 49,100.00 829,100.00 - MIM16 - - 46.687.50 0,68750 - 07/152016 - - 33,500.00 33,500.00 - OwInO16 445,00.0 3.500% 16.687.50 491,68].50 - IY3 @016 011152017 823,00.00 4.000% 33,50A0 85850.0 - MIM17 - - 38.90.0 38.90.0 - 0/152017 - - 17,00.0 17,00.0 - 080I2OI7 40.000.0 4.00% 38.90.0 498,90.0 12212017 - - - - 1,413,100.00 01II52018 850,00.0 4.00% 17,00.0 867,000.0 - 02/012018 - - 29.]00.0 29,70.0 - owimis 480,00.0 4.00Ya 29,]0.0 50.70.0 - IWI2018 1.4010'0 =12019 - - 20,100.00 20,100.00 - 08012019 40.00.0 4.0034 20,10.0 510,10.0 - 12212019 - - - - $30,20.0 0]/012020 - - 1030.00 10,30.00 - MIM20 515,00.0 4.00% 10,300.0 525,30.N IY312020 - - - - $35,60.0 ToY1 811345.000A0 SI,A83M.61 812,817,10.61 Yield Sta08uw BOMYMDollars 841,411.46 A U& 3.60 Y. Avneg• C 3.7967840% Nd I Coe (MC) 1.n53263% T.1 C Mc) L6M8101% B Y'ldf A16WWP� 15392111% All 1 1 m Coe(AIC) 1. 8405343% IRS Foem 8036 NGlua Cwt 1.483810% W '86kd A Memity 3.n0 Y. V"raroanN I )w Bumiry 18040201114:49Pa Municipal Securities Group Pap 3 City of Ithaca Tompkins County, New York Refunding Debt Service Comparison Dab Tool P•I Net New DIS Old NO DIS Savings Fisal Total 01/15/1011 1,239,16354 1,339,163.54 1,368,838]6 39,6833 - 07115MI1 39,6]]5] 39,677,57 80371.89 4769431 - OWIW2 11753]50 480,53150 11],]8126 9,743.36 - 487]12.50 48071250 453591.85 (25540.62) IMM012 11/312012 - - /129367 000152013 1270,53150 1,270,53150 1,299,78126 3],743.]6 - 07111 6558]50 65,58].50 93,340.63 ],]53.13 - 013 93,58150 93,59].50 95,593.8 3,45635 - WIM13 OW12m3 47058950 1]058]50 490310.63 2933.13 INI2013 - - 10,70639 01115014 1383,13150 1,283,137.50 1.320,59335 39,45635 - MIM14 59,512.50 59,512.50 65,50063 6,328,13 - 07/1500i4 73,800.00 73,800.00 ]1,]8125 (2,018.75) - ON012014 45951250 45951250 465840.63 6,328.13 IMM014 - - 40.093.]6 01115/1015 1,308,800.00 1,308,800.00 1.346,98135 3],98135 - 0]1OV1015 53512.50 53512.50 59,840.63 4.328.13 - mI152015 49,100.00 49,100.00 46,968.75 (2,13135) - MWO15 49351250 47351250 482,81063 9,328.13 1]1312015 - - - - 49,506.26 01/152016 829,100.0 829,100.00 &6,968.]5 17,86835 - Ob812O16 46.68150 46,687.60 49,31763 2,653.13 - OV1520I6 33.500.0 33,500.00 31,968.95 (1,53135) - OMI/1016 491687" 491,68950 499540.63 9,65113 IL312016 - - - - 26,643.76 01 /152017 85850000 858500.00 891,968.75 13,46675 - OMM017 38,900.0 38,900.0 47340.63 I,W.W - 07/152017 19,000.00 17,000.00 16,21835 (981.25) - W)WO19 498,9WW 49890000 51034063 11440.63 12212019 01105/1018 86],000.00 86]800.00 881,218.75 14,71855 - MIMIe 29,700.0 29,700.00 37910.63 1 ,740.63 - ON.12018 507700.W 309,700.00 530,910.63 - IWI2mS 2660.01 ONm2019 W,Imm 20,I00,W 31,140.63 IW.63 - OWIW19 SIO,Imm 510,IW.W 521,140.61 II,OW.63 - 121312on, - - - - I;W1.m 02/012020 173W.W 00500.00 10828.13 528.13 - 0N.12020 52130000 52550DW 535828.13 1053613 1wi1 - - - - 11,05626 Te S128195W.61 S13 VpX13.61 113,109,43162 3291613983 PV Analysis Summary (Nat W Net) G4ops Pymlb a Msara 27S 104.72 N pVCaShB Sa a 1539%(EC) 27&1048 Cwdplme9 d R.p , kx0 7,703.91 Nd Pramt vem eemfi 1285508.63 Ne4PVBm 1$11359040Retwhd Ripdyd 2514% N PV Bmfi/ 110245000 Refuedieg Nimpd 2.537% Refundlna Bond 1,&.agon ReSUndip Dated Dare 10202011 R<fiwdiaa Ddivuv Dale 1720.2011 cpnemo Ra6a44a I Iw45umwy 1.86.605 1 1:40.65 City of Ithaca Tompkins County, New York Refunding Escrow Fund Cashflow Data Principal Rate Interest Receipts Disbursements Cash Balance 10202011 - - 01/152012 2,696,621.00 0.040% 02/012012 76,387.00 0.050% 07/152012 81,673.00 0.120% 081012012 447,887.00 0.130% - 2,216.48 3,984.54 4,21731 7,485.35 119 2,698,837.48 80,371.54 85,890.51 455 ,372.35 - 2,698,838.76 80,371.88 85,890.63 455,371.88 2.19 0.91 0.57 0.45 0.92 01/152013 4,877,045.00 0.170% 02/012013 66,310.00 0.230% 08/012013 3,758,986.00 0.370% 4,145.48 7,030.37 6,954.12 4,881,190.48 73,340.37 3,765,940.12 4,881,190.63 73340.63 3,765,940.63 0.77 0.51 - Tobl 512,004,909.00 536,033.85 $12,040945.04 $12,040,945.04 Investment Parameter Invaiinent Model [PV, GIC or Securities] Securities DeftultinvesOnentyidiltuget Bond Yield Cmh Deposit 2.19 Cori oflevealnsenb Purchased with Bond Proceeds 12,004,909.00 TOW Cost Oflevonesenb $12,004,911.19 Target Cost oflnvestmenb>d bond yield $11,829,969.61 Actual positive or (negative) ubitr g, (174,941.58) Yield to Receipt 0.2596735% Yield for Arbitrage Pug.. 1.5392111% rva bwa 0awme I bruasum I saa2011 14:43M Company Municipal Securities Group P," 5 City of Ithaca Tompkins County, New York Refunding Escrow Summary Cost +Accrued Maturity T pe Coupon Yield Price Par Amount Principal Cost Interest =Total Cost Farrow 01 /152012 SLGSCI 0.040% 0.040% 100-.000000 2,696,621 2,696,621.00 - 2,696,621.00 76,387.00 02/012012 SLGSCI 0.0505/. 0.050-A I00- .000000 76387 76,387.00 - 81,673.00 07/152012 SLGSCI 0.120% 0.1205/. 100- .000000 81,673 81,673.00 - 447,587.00 081012012 SLGSCI 0.1305/. 0.130% 100- .000000 447,887 447,887.00 - 4,877,045.00 01/15/2013 SLGS -NT 0.170% 0.170% 100400000 4,877,045 4,877,045.00 66,310.00 0X012013 SLGS -M 0230% 0130% 100-.000000 66310 66.310.011 - 3156,986.00 06/012013 SLGS -M 0.370% 0.370% 100- .000000 3,756,966 1,758,986.00 - - 51210041909 512,004,909.00 - 812,004,909.00 Sohlolsl - - $12004909 512004909.00 112,004909.00 T.ud Eacm 2.19 Coh it 12,004,909.00 Coss ofl, e.m nls Purchased with Bond P.Oeeds SI2,004,911 +191 Told Cost ofinvestment9 10202011 DeliveryDeh G alNa Relunel,p �swe 5ummary 4 OI114'.43 PM Company Municipal Securities Group City of Ithaca Tompkins County, New York Refunding Total Refunded Debt Service DATE Ithaca 2001 Ithaca 2004 Ithaca 2004B TOTAL P+I Fiscal Total 01115/2012 471,135.63 797,703.13 - 1,268,838.76 - 0MIM12 - - 80,371.88 80,371.88 - 0]/IV2012 31,890.63 85,890.63 - 117,781.26 - OW12012 - - 455,371.88 455 ,371.88 - 12212012 1 922 ,363.]8 01/152013 486,890.63 810,890.63 - 1,297,78116 - 021012013 - - 73,340.63 73,340.63 - 07/152013 21,937.50 73,656.25 - 95,593.75 - OWIM13 - - 473,340.63 473,340.63 - I W IM13 1,940,05617 011152014 496,937.50 823,656.25 - 1,320,59315 - 02/012014 - - 65,840.63 65,840.63 - 071152014 11150.00 60,531.25 - 71,781.25 - 081012014 - - 465,840.3 465,840.63 - IWIM14 1924,056.26 01 /152015 511,250.00 835,53115 - 1,30,78115 - 021O 2015 - - 57,840.63 57,640.63 - 07/152015 - 46,96835 - 4, 968.75 - OWInOI5 - - 462,640.63 462,840.63 - 12212015 1,934,43116 01/152016 - 84,968.75 - 84,968.75 - 02J012016 - - 49,340.63 49}40.63 - 07/IM016 - 31,968.75 - 31,968.75 - 09MIrA16 - - 499,340.63 499,340.63 - 12212016 1,427,618.76 011152017 - 871,968.75 - 871,968.75 - 021012017 - - 40.340.63 40,340.63 - 071152017 - 16,216.75 - 16118.75 - MI2017 - - 510,340.63 510,340.63 - I22@OI7 1,438,868.76 011152018 - 681,218.75 - 881118.75 - 021012018 - - 30,940.63 30,940.63 - WIDi2018 - - 520,940.63 520,940.61 12212018 - - - - 1,433,100.01 02/012019 21,140.63 21,140.63 081012019 - - 521,140.63 521,140.63 - 12212019 - - - - 542181.26 021012020 - - 10,828.13 10,828.13 - OB/012020 - - 535,826.13 535,828.13 - IY512020 546.656.26 Tofal 71.031191.69 66,183,171.69 54,894,968.84 513,109,43163 Yield Statistics Sese dam fa AVg Life @ Me. Coupon CelecM. 10202011 Average Life 3,717 Y. Average COUpo 39132772% W'ghfd Anne Malanty (P Bas') 3.717 Y. Refunding Bond IMolmation ReOmding nand Date _ _ _ 10202011 Refired'. Delivery Dam IMono II a d. w4nan91 we �1 Y 1114na IM Municipal Securities Group Page 7 City of Ithaca Tompkins County, New York Refunding Summary Of Bonds Refunded Of Maturity Issue Maturity Type Bond Coupon Value Call Date Call Price Dated 1/152001 I Delivered 1/162001 Ithac03001 01/152012 Serial Coupon 4.300% 430,000 - - Ithaca2001 011152013 Serial Coupon 4.375% 455,000 011152012 100.000%. Ithaca2001 01/152014 Serial Coupon 4.500°/. 475,000 011152012 100.000% Ithaca2001 011152015 Serial Coupon 4.500% 500,000 01/152012 100.000% Sublotal 51,8601600 Dated 11152004 1 Delivered 1//52004 Itheca2004 01/152012 Serial Coupon 3.375% 700,000 - - Ith.2004 01/152013 Serial Coupon 3.375% 725,000 - - I0moa2004 011152014 Serial Coupon 3.500% 750,000 01/152013 101.000% Ithaca 2004 011152015 Serial Coupon 3.500% 775,000 0VI52013 101.000% Ith... 2004 01/152016 Serial Coupon 3]50% 800,000 011152013 101.000%. Ithaca3004 01/152017 Serial Coupon 3.750'h 840,000 01/1520/3 IOLOOD% Ithaca2004 01 /152018 Serial Coupon 3]50% 865,000 01/152013 101.000% Subtabl $5,455,000 Dated 81012004 1 Delivered BM52004 Ithwa2004B OS /OlnO12 Serial Coupon 3.750% 375,000 - - Ithaca 2004B 08/012013 Serial Coupon 3]50%. 400,000 - - Ithaca2004B 08/012014 Serial Coupon 4.000%. 400,000 08/012013 101.000%. IOuca2004B 08/012015 Serial Coupon 4.000%. 425,000 08/012013 101.OW% Ithaca 20048 08/012016 Serial Coupon 4.000%. 450,000 091012013 101.000% Ithaca2004B 08/012017 Serial Coupon 4.000% 470,000 081012013 101.000% Ithaca 20048 08/012018 Serial Coupon 4.000%. 490,000 091012013 101.000% Ithaca 20048 08/012019 Serial Coupon 4.125% 500,000 08/012013 101,000% Itim. 20048 08/012020 Serial Coupon 4125% 525,000 09/012013 101.000% Subtond - - 54,035,000 - - Tobl $11 ,350,000 CaydlVmeeluMYq I ImmSummar, I ao =2011 1 443PM Company Municipal Securifies Group Page 8 City of Ithaca Tompkins County, New York Refmding of Series 2001 Sources & Uses Dated 10=054 I Denverad 5 012 0120 5 4 sources Of Funds Pv Amowtofaonds $1.835,000.00 RwHedng Premium 8945020 Tom Sources 81,924,45010 Uses Of Funds Total Undemximrs Diswunt (0.500%) 9,175A0 Crow oflmwm 11,422.85 Deposit m Net Cash Escrow Fund 1,900,954.99 Roundin6 Amount 289746 Tom U. 81,924,45010 Dgda Rel.MV I nNWSmks2001 I& 11 14.aPM City of Ithaca Tompkins County, New York Refunding of Series 2001 Pricing Summary Type of Maturity Bond Coupon Yield Maturity Value Price Dollar Price 01/152012 Serial Coupon 01/152013 SerieI COYPOn 01/152014 Serial Coupon 01/152015 Serial Coupon 2.500% 3.0W% 3.250% 4.000% 0.400% 0.550°6 0.680% 0890% 445,000.00 450,000.00 460,000.00 480,000.00 100.494% 103.013% 105.693% 109.897% 447,198.30 463,558.50 486,187.80 527,505.60 Total 51,835,000.00 $1,924,450.20 Bid Information Par AmountofBmds $1,835,000.00 Reoffering Premium or(Diswunt) 8945020 Gross Pmduc ion $1,924,450.20 Toml Underwriters Di rot (0.5001A) 5(917500) Bid(104,375 %) 1915,27520 Total Purdime I m 51,915,27520 Bond Y. Dollars 53,24326 Average Life 1.767 Years Avenge Coulon 3,5420315% No Imenri Cml(NIC) 10668953% TnelnnnstCml (TIC) 1.0275632-/. cayaamnaeMm V I RataBw Ml I89 1114:41PM City of Ithaca Tompkins County, New York Refunding of Series 2001 Debt Service Schedule Data Principal Coupon Interest Total P +I Fiscal Total 10202011 - 0//152012 445,000.00 2.500°/. 13,877.43 458,877.43 - 07n52012 - - 73,825.00 23,825.00 - 12/31/2012 - - - - 482,702.43 01/152 013 450,000.00 000 3.% 23,825.00 47382500 07/152013 - - 17,075.00 17,075.00 - 121312013 - - - - 490,900.00 011152014 46,000.00 3.250% 17,075.00 477,075.00 - 07/152014 - - 9,600.00 9,600.00 - 12(31)2014 496,675.00 01 /152015 480,000.00 4.000% 9,600.00 489,600.00 - 12/312015 - - - - 489,600.00 TOW 51,835,000.0 5114,877.43 81,949,877A3 Yield StaBedm Bond Yen Wigs 83,243.26 Avenge Life 1.767 Ye as AVCnge Coupon 3.5420315-A Net inWe Con(MC) 10668953% Tne In[eren Cast (T1C) 1 0275632% Bond Yield Nt A Wap Proposes 1 5392111% All Inclusive Cast (AIC) 13737104% IRS Form 8038 Net hftm Cog 07321750% W<igM1Ud Avenge MaNrity 1.805 Yan CgdM RduWg I FeldSx M' I & 11 I4 :43PM City of Ithaca Tompkins County, New York Refunding of Series 2001 Debt Service Comparison Fiscal Date Total P +i Net New D/S Old Net D/S Savings Total 10202011 - - - - 01115/2012 458,877.43 458,877.43 471,135.63 12,25820 - 071152012 23,825.00 23,825.00 31,990.63 8,065.63 - 12A12012 - - - 20,323.83 01115=3 473,825.00 473,825.00 486,890.63 13,065.63 07/152013 17,075.00 17,075.00 21,937.50 4,862.50 - 12212013 - - - - 17,928.13 01/152014 477,075.00 477,075.00 496,937.50 19,862.50 - 07/152014 9,600.00 9,600.00 11,250.00 1,650.00 - 17/31/2014 21,512.50 011152015 489,600.00 489,600.00 514250.00 21,650.00 - 12/312015 - - - - 21,650.00 Tatal S1,949,87.43 S1,949,977A3 $2,03la91.89 S81A14A6 PV Analysis Summary (Net to Net) Gmss PV Debt Serviw Savings 80 28094 Net PV CaMoSsvmp ®0.7529a(EIC) 8028094 Cmdnpuy or Rowding Amount 2,89746 Net Present V d. Bewfit $83,178.40 Net PV Benefit/ 51,860 000 Refunded Principal 4.472% Net PV Benefit / 51,835 000 Re6rnding Principal 4.533% Refunding Bond Informagon Refunding Dated Date 10202011 Refimding Delivery Date 10202011 RY&1 Rekgc" I RMOISnl Ml I �11 I4 -4RPM City of Ithaca Tompkins County, New York Refunding of Series 2001 Escrow Fund Cashflow Date Principal Rate Interest Receipts Disbursements Cash Balance 10202011 - - - 01/152012 1,900,954.00 0.040% 180.74 0.89 1,901,134.74 - 1,901,135.63 0.89 - To41 S1,900,954.00 5180.74 51,901,135.63 $1,901,135b3 Investment Pammetela Ines enl Model [PV. GIC, or Secunfial _ Securities nefn It inmMot y'Id twVt Bond Yield Cash Deposit 0.89 Cost oflmaaneas Pmhmd wah Bond Proceeds 1,900,954.00 Taal Cost of In 51,900,954.89 Taga Cot of lneaaents a bond yield 51,894,265.33 Aaua Posh ( gat' ) ub'tng (6,689.56) Yield m Receipt 0.0402707% Yield for Arbimp PwWws 1.5392111% Cilyd Ieua ReMd,q I RMdS =l I 11 I4APM City of Ithaca Tompkins County, New York Refunding of Series 2001 Escrow Summary Cost Par Maturity Type Coupon Yield Price Amount Principal +Accrued Cost Interest =Total Cost Farrow 01/152012 SLGSLI 0.040% 0.040% 100 -.000000 1,900954 190095400 190095400 Su0tobl - - - 51,900,954 TOW 51900,954 5119001954.110 - 51,900,954.00 $1,900,954.00 51900,954.00 Escrow Cash Deposit 0.89 Con oflmes0uenb Purchased with BOnd Noceeda 1 900 954 00 TOW Cost oflavms nb $1,900,954.99 Dclwv D= 10202011 AYdf RM ft I PMd5mk Ml I MJpQp11 1 4:CPM of Ithaca Tompkins County, New York Refunding of Series 2001 Total Refunded Debt Service DATE Ithaca 2001 TOTAL P +1 Fiscal Total 01/152012 471,135.63 071152012 31,890.63 12212012 - 01/OMB 486,890.63 07/152013 21,937.50 471,135.63 31,890.63 - 486,890.63 21,937.50 - - 503,026.26 - 12/312013 - 011152014 496,937.50 07/152014 11,250.00 121312014 - 01/152015 511,250.00 - 496,937.50 11,250.00 - 511,250.00 508,828.13 - - 508,187.50 12/312015 - - 511,250.00 Tohl 52,031,291.89 52,031,291.89 Yield StatlsOw Bm date for Avg. Life & Avg. Coupon Calcdalicn 10202011 Average Life 1.798 Years Avemge Coupon 4.4729056% Weighted Average Wft iry(P. Boia) 1.798 Years Refunding Bond Inf6matlon Refunding Dned Date 10202011 Refunding Delivery Date 10202011 Cl dm Fehnle I M dedMaa191 l 88940111448 Phi City of Ithaca Tompkins County, New York Refunding of Series 2001 Summary Of Bonds Refunded Of Maturity Issue Maturity Type Bond Coupon Value Call Date Call Price Dated 1/15/3001 1 Delivered 1/16200/ IN..2001 01/152012 Serial Coupon 4.300% 430,000 - It .2001 011152013 Send Coupon 4.375% 455,000 01/152012 100.000% 1W 2001 01/152014 Send Coupon 4.500% 475,000 011152012 100.000% Ith. 2001 01/152015 Send Coupon 4500% 500,000 011152012 100000% Subtoal - - 51,860,000 - - Tow - 51.860'008 aydaM®s uu Ieelal5 2001 I 6 01114.43GM City of Ithaca Tompkins County, New York Refunding of Series 2004 Sources & Uses Dated 40/20120111 DOlhreretl 50120I205d Sources Of Funds Pm/ Owtof Bonds 35,385,000.00 Rwffedng P,em um 432,154.90 TOW SOUreea 55,817,154.90 Uses Of Funds Total UndemTkes Di=unt (0.500%) 26,925.00 Cwaoflnmw 33,521.57 Degasit te Net Cast Escrow Fwd 5,754 ,385.66 RowdmgA owt 2322.67 TOW U. S"17,154.90 pya Imx aeNhp I INOtSyba Ylpe l aaN1a1114:43 PM Company Municipal Securities Group Page 17 City of Ithaca Tompkins County, New York Refunding of Series 2004 Pricing Summary Type of Maturity Maturity Bond Coupon Yield Value Price Dollar Price 011152012 Serial Coupon 2.500°5 0.400% 735,000.00 100.494% 73030.90 01/152013 Senal Coupon 3.000% 0.550°5 710,000.00 103.013% 73092.30 01/152014 Serial Coupon 3.250% 0.680°5 730,000.00 105.693% 771,558.90 011152015 Sunni Coupon 4.000% 0.890% 755,000.00 109.89'1% 829 ,722.35 011152016 Serial Coupon 4.000% 1240% 78000000 111354% 86856120 01/152017 Serial Coupon 4.00055 1.580% 825,000.00 112.113% 924,932.25 DI /1512018 Serial Coupon 4.000% 1.940%. 850,000.00 112.042% 952x57.00 T.Ul $5,385,000.00 SSA1715190 Bid Information Pu AmoumofBonds $5,38500000 Reoffering Prenpm u or(Dis t) 43215490 Gross Pmduafion $5,817,154.9D Total Undo riter9 Diswunt (0.500%) S(2692500) Bid (107.525 %) 5,790.229.90 TOW Purchase Pace 55 790$3990 Borul Year Dollm $1805146 Average Life 3.352 Ycm Average Coupon 3.9691395% N_et Inert CO A (NIC) 1.6242799% True lntemn Cost (TIC) 1 5340364% . dl Rok"a Ilefof w M I&30o0111 a:4a PM City of Ithaca Tompkins County, New York Refunding of Series 2004 Debt Service Schedule Date Principal Coupon Interest Total P +I Fiscal Total 10202011 - - - - - 01/152012 735,000.00 2.500% 45,286.11 780,286.11 - 071152012 - - 86,712.50 86,712.50 - 12/312012 - - - - 866,998.61 01/152013 710,000.00 3.000% 86,712.50 796,712.50 07/152013 - - 76,062.50 76,062.50 - 12/312013 - - - - 872,775m 01/152014 730,000.00 3.250% 76,062.50 806,062.50 - 071152014 - - 64,200.00 64200.00 - 12/312014 870262.50 01/152015 755,000.00 4.000% 64200.00 819200.00 - 07/152015 - - 49,100.00 49,100.00 - IV312015 - - - 868,300.00 01/152016 780,000.00 4.000% 49,100.00 829,100.00 - 071152016 33,500.00 33500.00 12212016 - - - 862,60040 01/152017 825,000.00 4.000% 33,500.00 858500.00 - 07/152017 - - 17,000.00 17,000.00 - 12l112017 - - - - 875,500.00 01/152018 850,000.00 4.000% 17,000.00 867,000.00 12212018 - - - 867,000.00 Total 55.365 ,000.00 5698,436.11 86,083,136.11 Yield Statistics send Year Dollars $19,051.46 Awrage Life 3.352 Years Average Coupon 3.8691395% Net Interert Cog (NIC) 1.6242799% True Interest Cost MC) 1.5340364% Bond Yield for Arbitrage Potposes 1.5392111% All Inclusive Cog (AIC) 1.7170263% IRS Fonn 8038 Netlntenst Cast 1.3347282% Weighted Avenge Maturity 3430 Years Cftyd w elumeq 1 nelasere*2 w I 8 1114:47rr4 Municipal Securities Group Pa", 19 City of Ithaca Tompkins County, New York Refunding of Series 2004 Debt Service Comparison Fiscal Date Total P +I Net New DIS Old Net DIS Savings Total 10202011 - - - - _ 011152012 780A6.11 780,286.11 797,703.13 17,417.02 - 07/152012 86,712.50 86,712.50 85,890.63 (821.87) - 12/312012 - - - 16,595.15 01/152013 796,71150 796,712.50 810,890.63 14,178.13 07/152013 76,062.50 76,062.50 73,65625 (2,406,25) - 171312013 - - - - 11,771.88 01/152014 806,062.50 806,062.50 823,656.25 17,593.75 - 07/152014 64, 200.00 613200.00 60,531.25 (3,668.75) - 12/312014 13,925.00 01/152015 819,200.00 819,200.00 835,531.25 16,331.35 - 07/152015 49,100.00 49,100.00 46,969.75 (2,131.25) - 12/3I2015 - - - - 14,200.00 01/152016 829,100.00 829,100.00 846,968.75 17,868.75 - 07/152016 33,500.00 33500.00 31,968.75 (1,531.25) 12212016 - - - - 16,337.50 01/152017 858,500.00 858,500.00 871,968.75 13,468.75 - 07/152017 17,000.00 17,000.00 16,218.75 (781.25) - 12/312017 - - - - 12,687.50 01//52018 867,000.00 867,000.00 881,218.75 14,218.75 12/312018 - - - - 14,218.75 ToW 56453,436.11 56,0831336.11 $6,153,171.89 S99,735.75 PV Analysis Summary (Net to Net) Gross PV Debt Service Savings 95 51991 Net PV C&Wow Swings Cal 1.3grA(EIC) 95 51991 CondogcneymRoundingM rot 2,32267 Net Pment Vdud Benefit 597,842.58 NO PV Benefit/ $5,455,000 Rdi ded Principal 1794% NO PV Benefit/ $5,385,000 RO di gPrincipal 1817% Refunding Bond Information Refunding Dated Date 101202011 Refunding Delivery Dm 102020/1 G &1N RON re I ne1W 5eMaa I& 11 11<3 PM City of Ithaca Tompkins County, New York Refunding of Series 2004 Escrow Fund Cashflow Date Principal Rate Interest Receipts Dlsbumements Cash Balance 10202011 - - 01/152012 795,667.00 0.04 071I52012 81,673.00 0.1209. 01/152013 4,877,045.00 0.1709. - 2,035.74 4,217.51 4,145.48 0.66 797,702.74 85,890.51 4,881,190.48 - 797,703.13 85,890.63 4,881,190.63 0.66 0.27 0.15 - Tattl 55.754385.00 S10398.73 55,764,78!39 55,764,784.19 Investment Pammetem Invcebnent Model [PV, GIC, or Sccmilies) Secmitiea De0w1t invesbnent yield t gd Bond Yield Cash DeMit 066 Cost oflnvesmeats P cbased with Bmd Pm ds 5,754385.00 Total Cm finvesbnenb 55,754385.66 Targn Cost oflnvesmen% a bondyield S5,669,293.17 Actual positive or (negative) arbitrage (95,092.49) Yield w Receipt 01656793% Yield for Arbimee Porpoms 1.5392111% urdne.medw,d,s I ndd54deS a I8=01114:4sra City of Ithaca Tompkins County, New York Refunding of Series 2004 Escrow Summary Cost Par Principal +Accrued Maturity TYPO Coupon Yield Price Amount Cost Interest Total Coat Esraw 01/152012 SLGSCI 0.040% 0.000% 100-.000000 795,667 795,667.00 - 795,667.00 07/1520/2 SLGSCI 0.120% 0.120% 100..000000 81,673 81,673.00 - 81,673.00 011152013 SLGS -M 0.170% 0.170% 100-.000000 4,877,045 4 877 045 00 4,877,D45.00 sabwftl - - - S5,754,385 $5,75085.00 - 55,754,385.00 TOW 55754,385 55754,mm $575438500 Escrow Cub Deposit 0.66 Cog of Inve nt4 Porolused with Bond Proweds 5,754,385.00 Total Cost oflnvcocm nt9 $5,754,385.66 Delivery Date 10202011 :pa more eawmq I n.rasm.wxaa am9n I9:a rm City of Ithaca Tompkins County, New York Refunding of Series 2004 Total Refunded Debt Service DATE Ithaca 2004 TOTAL P+l Fiscal Total 01/152012 797,703.13 797,703.13 - 07/152012 85,890.63 85,890.63 - 12J312012 - - 883,593.76 011152013 810,890.63 810,890.63 - 07/152013 73,656.25 73,656.25 12212013 - - 884,546.88 01/152014 873,65625 823,656.25 - 07115/2014 60,531.25 60,531.25 - 122120I4 - - 884,187.50 011152015 835,531.25 $35,531.25 07/152015 46,968.75 46,968.75 - 17J312015 - - 882,500.00 011152016 846,968.75 846,968.75 - 071152016 31,968.75 31,968.75 - 17J312016 878,937.50 01/152017 871,968.75 871,968.75 - 07/152017 16,218.75 16 ,218.75 - 12212017 - - 888,187.50 01/152019 881,218.75 881,218.75 - 12212018 881218.75 Tar[ 86,183,17199 86,183,17119 Yield Statistics Bau dale fm Avg. Life & Av& Coupon Calculation 10202011 Avenge Life 3378 Yeah Average Coupon 3.6716239% Wei$hWd Avenge Mamdty (Par Basis) 3.378 Yem Refunding Bond Information Refunding Dated Dace 102aaol l Refunding Delivery use 10202011 Gq IXaM®aBM1 N I Ratan aM Iar =2JI1 14a3PM Company Municipal Securities Group Page 23 Summary Of Bonds Refunded of Maturity Issue Maturity Type Bond Coupon Value Call Date Call Price Dated 1/152004 1 Delivered 1//52004 Idm 2004 01/152012 Senal Coupon 3375% 700,000 - - Ilbaca2004 011152013 Serial Coupon 3.375% 725,000 - Itbuca2004 01/152014 Sepal Coupon 3.500% 750,000 01/152013 101.000% Ith.2004 011152015 Serial Coupon 3.500%. 775,000 01/152013 101.000% lth=2004 01/152016 Senal Coupon 3750% 800,000 011152013 101000% Idu 2004 01/152017 Sepal Coupon 3.750°.5 840,000 011152013 101.000% Ida 2004 01/152018 Serial Coupon 3.750% 865000 01/152013 101000% Subtotal - - 85,455,000 - - City of Ithaca Tompkins County, New York Refunding of Series 2004B Sources & Uses Dame 10120=15 I Deuwraa 1012012071 Soumes Of Funds Pu Amowt OfB Inds 540250D0W RwffenO6 Pmamem 371 73500 TOW SOurem 84,19(ti735A Uses Of Funds TOW Undavrtikes Dismount (0.500%) 2012500 Cale Oflssumue 25,055.58 NETT mNa Cnh&emw Fund 4„34957064 aou ina Amount 198378 TOW Uses 54,46735 00 :T/d INw FMUKW FNMSroNS]MIa arlYt011 e:u PM City of Ithaca Tompkins County, New York Refunding of Series 2004B Pricing Summary Type of Maturity Bond Coupon Yield Maturity Value Price Dollar Price 08/012012 Serial Coupon 081012013 Serial Coupon 08/012014 Serial Coupon 0810120/5 Serial Coupon 08/012016 Serial Coupon 2.500% 3.000% 3.000% 1250% 3.500% 0.470% 0.600% 0.730% 0.940% 1290% 410,000.00 405,000.00 400,000.00 420,000.00 44500000 101.579°/. 104.243% 106.236% 108.559% 110212% 416,473.90 422,184.15 424,944.00 455,947.80 49044340 OS/012017 Serial Coupon 08/012018 Serial Coupon 08/012019 Serial Coupon 08/012020 Serial Coupon 4.000°/. 4.000% 4.000% 4.000% 1.630% 1.980% 2.260% 2.510% 460,000.00 480,000.00 490,000.00 515,000.00 113.021% 112.755% 112.348% 111.673% 519,896.60 541,274.00 550,505.20 575,115.95 Taw S4,025,000.00 54;396,735.00 Bid Information Par Amount ofBonds $4 025 000 00 Reoffering Premium or (Discount) 371 73500 Gross Production $4,396,735.00 Total Underwriter's Discount (0.500%) S(20,125.00) Bid(108.736 %) 4,376,610.00 TOW Purchase Price $4,376,610.00 Bond Year DDII m S20,116.74 Average Life 4995 Years Average Coupon 3.7729285% Net interest Con (MC) 2.0250803% Tone Interco Cost (TIC) 1 9032319% prydlaaeaftk 9na I adds X O I a3aQa1114:4a PM City of Ithaca Tompkins County, New York Refunding of Series 2004B Debt Service Schedule Data Pdnclpal Coupon Interest Total PA Fiscal Total 1020/1011 - - 021012012 - - 39,677.57 39,677.57 - - 08/01/2012 410,000.00 2.% 500 70,712.50 480,712.50 - 122If1012 - 520,390.07 02 /0IQAI3 65,587.50 6558750 08/012013 405,00D.00 3.000% 65,587.50 470,587.50 - 12212013 - _ - 536,175.00 021012014 - - 59,512.50 59,812.50 - OM 2014 400,000.00 .0 59,51250 459,512.50 - 12/312014 519 02500 021012015 - - 53,512.50 53,512.50 - 08/012015 420,000.00 3.250°.5 53,512.50 473,512.50 - 12/312015 - - - 527,M5.00 02/012016 - 46,687.50 46,687.50 - OB/012016 445,000.00 3.500% 4668750 49168750 IMIM16 - - - - 538,375.00 02/012017 - - 38,900.00 38,900.00 - OPOM017 460,OODAO 4.000Y 38,900.00 496,900.00 - 12212017 - _ - 537,800.00 071012018 2970000 2970000 081012018 480,000.00 4.000% 29,700.00 509,700.00 12212018 - - - - 539,400.00 02/012019 - - 20,100.00 20,100.00 - 08/M2019 490,000.00 4.000% 20,100.00 510,100.00 - 12212019 530,20000 02/012020 - - 10,300.00 10,300.00 - OB/012020 515,000.00 4.000% 10,300.00 525,300.00 - I2212020 - _ - - 535,600.00 TOW 84,025,000AO 5758,990.07 54,783,99007 Yield ShBstim Bond Year Dollars 82011674 Avenge Life / 998 Yem Avenge Coupon 3.7729285 Net lneteM Con (MC) 2.0250803% Tsue lat Coal(TIC) 1 9032319;6 Bond Yield for A ieage Nq.. 1.5392111% All lnclusrve COSt (AIC) 2.02M375% IRS Form 8038 Ndloterea/COSt 17338582% Waghled Avenge MmunN 5.090 Y C!1'dN FWWbe I gdd94,bs2(e1B 19.ryVp1114:QPM City of Ithaca Tompkins County, New York Refunding of Series 2004B Debt Service Comparison Date Total P+I Net New DIS Old Net D7S Savings Fiscal Total 10202011 - - - - 02/012012 39,677.57 39,677.57 80,371.88 40,694.31 - 091=012 480,712.50 480,712.50 455,371.88 (25,340.62) - 12/312012 - _ 5 353.69 02/012013 65,587.50 65,587.50 73 ,340.63 775313 08/01/1013 470,587.50 470,587.50 473 ,340.63 2,753.13 - 12/31/2013 - - - - 10,506.26 02/012014 59,512.50 59,512.50 65,840.63 6 ,328.13 08/012014 459,512.50 459,512.50 465,840.63 6 ,328.13 12/312014 265626 02!012015 53,512.50 53,512.50 57,840.63 4 ,328.13 - 08/012015 473,512.50 473,512.50 482,840.63 9 ,328.13 - 12/312015 - - - - 13,65626 0210/2016 46,687.50 46,687.50 49 ,340.63 2,653.13 08/012016 491,687.50 491,687.50 499,340.63 765313 12/312016 - - - 10,306.26 02/012017 38,900.00 38,900.00 40 ,340.63 1,440.63 - 08/0112017 498,900.00 498,900.00 510 ,340.63 11,440.63 - 1231/2017 _ 2,881.26 07/012018 29,700.00 29,700.00 30,940.63 1,74063 08/012018 509,700.00 509,700.00 520,940.63 Ilyt0.63 - 12/i12018 - - - - 12,481.26 02/012019 20,100.00 20,100.00 21,140.63 1,040.63 08/012019 510,100.00 510,100.00 521,140.63 11,040.63 - 12/312019 1208126 02/012020 10,300.00 10 ,300.00 10,828.13 528.13 - 0810V2020 525,300.00 525 ,300.00 535,828.13 10,528.13 - 12/312020 - - - - 11,056.26 Tpbl 54,783,990.07 54,783,990.07 54,894868.94 8110978.77 PV Analysis Summary (Net to Nat) Gmss PV Debt Service Savings 102 ,762.79 Net PV Cashfiow Savings Cis 1.803%(EIC) 102,76279 Con6ngmry m Rowding Amount 1,993.79 Na Present Value Benefit 5103 746 57 NU PV Benefit/ $4,035,000 Refunded Principal 2.5%% Net PV Bmfit/ $4,025,000 Refunding Principal 2602% Refunding Bond Information Refunding Dated Date 102012011 Refunding Delivery Dare 102012011 GyNlev®R'—VV I nelNSahaae4B I a 1114.QM City of Ithaca Tompkins County, New York Refunding of Series 2004B Escrow Fund Cashflow Date Principal Rate Interest Receipts Disbursements Cash Balance 1020201/ - - 02/1112012 76,387.00 0.050% 081012012 447,887.00 0.130% 07/012013 66,310.00 0230% 08/0120/3 3,758986.00 0.370% - 3,984.54 7,485.35 7,030.37 6,954.12 0.64 80,371.54 455,372.35 73,340.37 3,765,940.12 - 80,371.88 455,371.88 73,340.63 3,765,940.63 0.64 0.30 077 051 Toni 54,349¢70.00 $25.45438 $4,375,025.02 84,375,025.02 Investment Parameters Invalmenl Madel [PV, GIC or 5ecuritics] securives Default invmm fl yield target Bond Yield C h Dega't 0.64 Cost oflnvesuneny Purchased with Bond Proceeds 4,349,570.00 Taml Cost oflnvesvaenv 54,349,570.64 Target Con of l snems al bond ykId $4,266411.12 AcbW pos 4 ( gal' ) arh'aage (83 159M) Y" Idto Rmipt 0.356050 Yield fo r Arb'vage Purpows 1.5392111% 04dwvmaw.4n0 I aerme.r M8 I er 11la:a rss Company Municipal Securities Grcup 29 City of Ithaca Tompkins County, New York Refunding of Series 2004B Escrow Summary Cost Par Principal +Accrued Maturity Type Coupon Yield Price Amount Cost Interest -Total Cost Farrow 02/012012 SLGSLI 0.050% 0.050% 100- .000000 76 ,387 76,387,2 76,387,00 08/012012 SLGS -CI 0.130% 0.130% 100- .000000 447,897 447,887.00 - 447,887.00 02Po12013 SLGS -NT 0.230%. 0.230% 100 - .000000 66,310 66,310.00 - 66,310.00 08/012013 SLGS -NT 0370% 0.370% 100 - 000000 3,758,996 375898600 375899600 Subtobl - - - S4,349,570 54,349¢70.00 - 54,349570.00 TOW 54,349570 34,34957000 54,34957000 Escrow C=D Pwfi Con oflnvesMenN P=hwed wiW Bone Protteds 064 Torel Cast ofimestments 4,349 57000 $4,349,570.64 Delivery Dare 10202011 ilyalNau Rtlu^nW I FN dSaba aeJe &i II j4 :J PM City of Ithaca Tompkins County, New York Refunding of Series 2O04B Total Refunded Debt Service DATE Ithaca 2004B TOTAL P +I Fiscal Total 02/012012 80,371.88 80,371.88 - O8/OV2012 455,371.88 455,371.88 - 12/312012 - - 535,743.76 021012013 73,340.63 73,340.63 - ORM12013 473,340.63 473,340.63 12n12013 - - 546,681.26 021012014 65,840.63 65,840.63 - 08/01/2014 465,840.63 465,840.63 - 12/312014 - - 531,68126 02/012015 57,840.63 57,840.63 081012015 482,840.63 482,840.63 - 12/312015 - - 540,681.26 07/012016 49,340.63 49,340.63 - OW012016 499,340.63 499 ,340.63 - 12/3laOI6 548,681.26 07/012017 40 ,340.63 40,340.63 - 0810I2017 510,340.63 510 ,340.63 - 12131/2017 - - 550,691.26 02/012018 30,940.63 30,940.63 - 08/01/2018 520,940.63 520,940.63 - 12(31)20I8 - - 551,881.26 021012019 21,140.63 21,140.63 - 081012019 521,140.63 521,140.63 - 12212019 - - 542,281.26 021012020 10,828.13 10,828.13 00112020 535,828.13 535,828.13 - 12/312010 - 546,656.26 TOW 54,894,9" 84994,968.84 - Yield Statisti w Bm date for Avg. Life AA e Coupon Calmladon 10/202011 AyerW Life 5.059 Yens Av mp Cwpon 4.0397405% Weighud Mw M t 'ty (P Buis) 5.059 Yenta Refunding Bond Information ReBmdieg Deed Dm 10202011 Refamd'Rg Delivery DW 10202011 each Rd NI Rdd4rW z00N) I a Dll ICOM Company Municipal Secutifies Group Page 31 City of Ithaca Tompkins County, New York Refunding of Series 2004B Summary Of Bonds Refunded Of Maturity Issue Maturity Type Bond Coupon Value Call Date Call Prise Dated 8/012004 � Delivered 8/052000 Iduca2004B 08/012012 Serial Coupon 3.750% 375,000 Ithaca 20048 08/012013 Serial Coupon 3.750% 400,000 - Ithaza2004B 081012014 Sepal Coupon 4.000%. 400,000 08/012013 101.000° /. Ithaca 2004B 08/012015 Serial Coupon 4.000% 425,000 081012013 101.000% Ithaca200413 08/01/2016 serial Coupon 4000% 450,000 08/012013 101000% Waco 20048 08/012017 Serial Coupon 4.000%. 470,000 081O72013 101.000% Ithaca20048 08/012018 serial Coupon 4.000% 490,000 081072013 101.000% Ithaca 2004B 08/0120/9 Serial Coupon 4.125% 500,000 08/01/2013 101.000% Ithaca 20048 081012020 serial Coupon 4125% 525,000 08/012013 101000% Subtotal - - 54,035,000 Total - $4035.000 :tare uuo 0000,4100 I Betwserer zoola 1 a99rzptt I �4aPM A. Declaration of Lead Agency - Resolution WHEREAS, State Law and Section 176.6 of the City Code require that a lead agency be established for conducting environmental review of projects in accordance with local and state environmental law, and WHEREAS, State Law specifies that for actions governed by local environmental review, the lead agency shall be that local agency which has primary responsibility for approving and funding or carrying out the action, and WHEREAS, the proposed revisions to the Waterfront Zoning District is a'Type I" Action pursuant to the City Environmental Quality Review Ordinance which requires environmental review under CEQR; now, therefore, be it RESOLVED, That Common Council of the City of Ithaca does hereby declare itself lead agency for the environmental review of the proposal to revise the boundaries of the WEDZIla, 1 -1, M-1, WF -1a, WF -1b, WF -1c, and WF -1d zone and to establish a two new Waterfront Zoning Districts, the WFA district and the WF -2 district. B. Determination of Environmental Sianificance - Resolution WHEREAS, the City of Ithaca is considering a proposal to revise the boundaries of the WEDZ1a, 1 -1, M -1, WF -1a, WF -1b, WF -1c, and WF -1d zone and to establish two new Waterfront Zoning Districts, the WFA and the WF -2 district, and WHEREAS, appropriate environmental review has been conducted including the preparation of the Full Environmental Assessment Form (FEAF), and WHEREAS, this rezoning has been reviewed by the Tompkins County Planning Department Pursuant to §239 -1—m of the New York State General Municipal Law, which requires that all actions within 500 feet of a county or state facility, including county and state highways, be reviewed by the County Planning Department, and has also been reviewed by the City of Ithaca Conservation Advisory Council, and the City of Ithaca Planning and Development Board, and WHEREAS, the proposed action is a Type I Action under the City Environmental Quality Review Ordinance (CEQR Sec. 176 -12B), and WHEREAS, the Common Council of the City of Ithaca, acting as Lead Agency, reviewed the Full Environmental Assessment Form prepared by Planning Staff and has determined that the adoption of the proposed zoning change will not have a significant effect on the environment; now, therefore, be it RESOLVED, That this Common Council, as lead agency in this matter, hereby adopts as its own, the finding and conclusions more fully set forth on the Full Environmental Assessment Form as corrected at the Planning and Economic Development Committee meeting on September 21, 2011, and be it further RESOLVED, That this Common Council, as lead agency in this matter, hereby determines that the proposed action at issue will not have a significant effect on the environment, and that further environmental review is unnecessary, and be it further RESOLVED, That this resolution constitutes notice of this negative declaration and that the City Clerk is hereby directed to file a copy of the same, together with any attachments, in the City Clerk's Office, and forward the same to any other parties as required by law. C. Adoption of Ordinance ORDINANCE NO. 2011- BE IT ORDAINED AND ENACTED by the Common Council of the City of Ithaca that Chapter 325, Section 325-4 of the Municipal Code of the City of Ithaca, entitled "Establishment of Zoning Districts ", be amended in order to establish two new consolidated Waterfront Zoning Districts, the WF -1 and the WF -2 Districts. Section 1. Declaration of Legislative Findings and Purpose The Common Council finds that this Ordinance will consolidate the various waterfront zoning districts in order to create two new Waterfront Zoning Districts, WF -1 and WF -2, which will: 1. Maintain public access to the waterfront. 2. Allow the City to create an area on the water for multi -story buildings intended for mixed use. 3. Ensure that new construction along the waterfront be designed in a manner to protect views to and from the waterfront and to enhance the pedestrian experience along the waterfront, wherever possible. 4. Ensure that building facades on the public rights of way contribute to a coherent streetscape, promoting street -level pedestrian uses. Section 2. Chapter 325, Section 325 -3 of the Municipal Code of the City of Ithaca, entitled "Definitions and Word Usage ", is hereby amended to add the following definitions: 1. "Water- dependent facilities" is defined as those structures or works associated with industrial, maritime, recreational, educational, or fisheries activities that require location at or near the shoreline. 2. "Water- dependent activity" is defined as an activity that cannot exist outside of the waterfront area and is dependent on the water by reason of the intrinsic nature of its operation. These activities include, but are not limited to, ports, water -use industries, marinas and other boat docking structures, public beaches and other public water - oriented recreation areas, and fisheries activities. Section 3. Chapter 325, Section 325-41 C.(1) of the Municipal Code of the City of Ithaca, entitled 'Design Review. Applicability. Design Review shall apply to all proposals for" is hereby amended to add the WF -1 and WF -2 districts and should read as follows: New construction, exterior alterations, or additions to any structure within the zones designated B -1b; B -2b; B -2c; B -2d; all CBD zones, including CBD -60, CBD -85, CBD -100, and CBD -120; C -SU, and the WFA and WF -2 districts. Section 4. Chapter 325, Section 325 -5 of the Municipal Code of the City of Ithaca, entitled "Zoning Map" is hereby amended to change the zoning designation of parcels 16.-2-1.1, 17.-1-1.2, 17.-1-2, 21-1-1, 21-2-11, 21-2-2, 37.-1-1, 37. -1 -2, 37.-14.1, 43 :1- 4, , 52.-l-1.1, 52.-l-1.2. 52.-1-1.3, 58.-1-2, 58:1 -3, 58.-1-4, 58.-l-5,58.-l-6, 58:1 -7, 58.-2-1.1. 58.-2-1.2, 58.-2-1.3, 58.-7-1.1, 58.-7-1.2, 58.-7-3, 58.-7-5. 58.-7-8, 73.-1 -10, 73.-l-11, 73.-1-9, 71-8-1, 73. -9 -10, 73.-g-12, 73.-9-4, and 73.-9-9, and a portion of parcels 525. -6 -1, 24.-1-1, 43.-1-1. 41-1-5. 58.-1-1 from M -1 (Marine Commercial District), WF -1a, WFA b, WF -1c, and WF -1d, and 1 -1 to the Waterfront Zoning District-1 (WF -1), and to change the designation of parcels 37.-1-3, 37.-l-4.2, 43. -1 -1, 43.-1-2, 43.-l-3, 41-1-5, 43. -2 -1.42, 59. -8 -1, 52.-2-3, 52.-24, 58.-3-1, 58.-3-2, 58. -3 -3, 58.-34, 58. -3 -7, 58.4-1.13, 58.4-1.2, 58.4 -10.2, 58.4-2.2, 58.-5-1, 58. -6 -1, 59. -1 -2, 72. -6 -2, 73.-2-1, 73.-2-3, 73.-3-1, 73.-3-2, 73.-3-3, 73.-5-2.1, 73.-5-3, 73. -6 -1, 79. -1 -1, 79.-l-2.1, 79.-1-2.2, 79.-1-3, 79.-14, 79.-10-1,79.-2-1.2 and a portion of parcels 525. -6-1, 72.-7- 10, 52.-3-1.12, from WFA a, WFA b, WF -1 c, WEDZ -1 a, SW -2, and M -1 to the Waterfront Zoning District - 2(WF -2), and to change the designation of parcel 73.4-1, and a portion of parcel 58.-1-1 from WF -1a and WF -1 c to P -1, as shown on the attached map entitled "Proposed Waterfront Rezoning- August 2011 ". Section 5. Section 325 -8 of the Municipal Code of the City of Ithaca is hereby amended to establish district regulations for the new WFA and WF -2 districts as follows: Permitted Primary Uses 1. Any use permitted in B-2 except establishments where food or beverages are intended to be served or consumed by persons in automobiles. 2. Recreational or cultural facility such as a park, playground, art museum, fishing pier or yacht club. 3. Public Recreation. 4. Boatel. 5. Sale, rental, repair or storage of marine related recreation equipment such as boats, marine engines, sails, cabin equipment. 6. Light manufacture of marine recreation related products involving substantial hand fabrication such as sails, boat hulls, cabin fittings. By Special Permit of the Board of Appeals 7. Parking Lot 8. Parking Garage Permitted Accessory Uses 1. Any accessory use permitted in the B -2 zone. 2. Boat fuel dispensing. 3. Snowmobile sales, service, rental in conjunction with boat sales, rental or service. 4. Storage of marine related recreation equipment such as boats, marine engines, sails, cabin equipment as it relates to permitted primary uses under zoning 5. Parking Lot Off- Street Parking Requirements — None Off- Street Loading Requirements— None Area in Square Feet — 3,000 Minimum lot width — 30 Maximum Building Heights: 1. Maximum 5 stories, A minimum of 12 feet for the first story measured from finished grade, and a maximum of 12 feet for each additional story, for a maximum of 63 feet, with an additional 5 feet for cornice. All new construction is subject to a mandatory design review process. (Refer to Code of the City of Ithaca, Chapter 325, Zoning, Section 325 -3.B., Definitions and Word Usage, HEIGHT OF BUILDING) Maximum percent lot coverage by buildings 100% lot coverage allowed except as may be required by the Planning and Development Board during Site Plan Review, for provision of pedestrian ways and protection of view corridors. Yard Dimensions 1. Front Yard — None 2. Side Yards — None 3. Rear Yard — None Minimum Height 1. W F -1 — Minimum of 3 stories and 36 feet, except for water dependent facilities, which have no minimum story or building height limit. Accessory structures up to 400 square feet in size have no minimum building height limit. 2. W F -2 — Minimum of 2 stories and 24 feet, except for water dependent facilities, which have no minimum story or building height limit. Accessory structures up to 400 square feet in size have no minimum building height limit. Additional Restrictions 1. Lookout Point Restrictions - The first 100 feet south from the northern tip of Inlet Island is to remain a no build area. In addition, in the first 300 feet south from the northern tip of Inlet Island no building may be constructed that is greater than 1 story in height. Lookout Point 2. Flood Control Channel Restrictions — For all properties that are located along the Flood Control Channel as shown on the City of Ithaca Zoning Map, or properties that directly abut the Department of Environmental Conservation twenty five foot permanent easement, no construction is permitted within the first 25 feet along the Flood Control Channel, measured from the top of the existing bank. The first 15 feet of the no build area is to be unobstructed space, but may have removable vertical elements, so that maintenance equipment can access the Flood Control Channel. Outdoor furnishings, such as benches may be placed in the remaining 10 feet adjacent to the building but must be kept to no more than 25 feet in length with 50 feet of clear spaces between to allow for vehicular access. 3. Step Back Requirement Step Back Requirement 45 stories max height 63' 10, Building 15' 2 3 stories min height 24' max height 36' _ Land Water a. For all properties within the WF -1 zoning district that have frontage on the waterfront, the first 10 feet of any new construction facing the waterfront, is restricted to be at least 2 stories and not more than 3 stories in height. As an incentive, buildings that provide a public walkway along the waterfront shall be exempt from the step back requirement. In addition, any properties that are located along a public waterfront walkway or an easement for a public waterfront walkway are exempt from the stepback requirement. 4 -5 stotlas maz height 83- Incentive Building Option Public Walkway 15, Land to 4. Setback Requirement All properties within the WF -1 zoning district that are located along the waterfront are to maintain a 15 foot no build area measured from the shoreline or from the inner boundary of the easement for the Cayuga Waterfront Trail where such easement exists. (Refer to Code of the City of Ithaca, Chapter 325, Zoning, Section 325 -3.B., Definitions and Word Usage, HABITABLE SPACE, NONHABITABLE SPACE, STORY, PUBLIC SPACE) Section 6. Chapter 325, Section 325 -9(C) of the Municipal Code of the City of Ithaca entitled "Special Permits" is hereby amended to add a new subsection to be known as (4.)(i) Parking in the Waterfront Zane to read as follows: "Parking areas will be permitted as a primary use in the Waterfront Zone WF -1 and W F -2 districts by special permit and only if they are open to the public or if they are intended to serve the needs of multiple businesses" Section 7. Chapter 325, Section 325 -20 of the Municipal Code of the City of Ithaca entitled "Off- Street Parking" is hereby amended to add the WFA and WF -2 Districts to Section 325- 20(C)(3)(a) to read as follows: "(1) Notwithstanding anything contained herein to the contrary, there are no requirements as to the minimum number of off - street parking spaces in the following zoning districts: WEDZ -1 a, CBD -60, CBD -85, CBD -100, CBD -120, B -1 b, B -2c, WF -1 and WF -2" Section 8. The City Planning and Development Board, the City Clerk and the Planning Department shall amend the zoning map and the district regulations chart in accordance with the amendments made herewith. Section 9. Severability. Severability is intended throughout and within the provisions of this local law. If any section, subsection, sentence, clause, phrase or portion of this local law is held to be invalid or unconstitutional by a court of competent jurisdiction, then that decision shall not affect the validity of the remaining portion. Section 10. Effective date. This ordinance shall take affect immediately and in accordance with law upon publication of notices as provided in the Ithaca City Charter. &C't 00 J+m to. I t�.., NY State Plane, Central GRS 80 Datum Map Source: Tompkins County Digital Planimetnc Map 1991 Map Prepared by: GIS Planning, City of Ithaca, NY, 9 August ,Bo,ct op Ib► [a i CITY OF ITHACA FULL ENVIRONMENTAL ASSESSMENT FORM (FEAF) Purpose: The Full Environmental Assessment Form (FEAF) is designed to help applicants and agencies determine, in an orderly manner, whether a project or action may be significant. The question of whether an action may he significant is not always easy to answer. Frequently there are aspects of a proposed action that are subjective or immeasurable. It is also understood that those who determine significance may have little or no formal knowledge of the environment or may not be aware of the broader concerns affecting the question of significance. The FEAF is intended to provide a method whereby applicants and agencies can be assured that the determination process has been orderly, comprehensive in nature, yet flexible enough to allow introduction of information to fit a project or action. FEAF Components: Part 1: Provide objective data and information about a given action and its site. By identifying basic project data, it assists in a review of the analysis that takes place in Parts 2 and 3. Part 2: Focus on identifying the range of possible impacts that may occur from a project or action. It provides guidance as to whether an impact is likely to be considered small to moderate or whether it is a potentially large impact. The form also identifies whether an impact can be mitigated or reduced. Part 3: If any impact in Part 2 is identified as potentially large, then Part 3 is used to evaluate whether or not the impact is actually important. THIS AREA IS FOR LEAD AGENCY USE ONLY DETERMINATION OF SIGNIFICANCE —TYPE I AND UNLISTED ACTIONS Identify the Portions of FEAF completed for this action: ®Part 1 NPert 2 Part 3 Upon review of the information recorded on this FEAF (Parts, 2, and 3, ifapproprlate), and any other supporting information, and considering both the magnitude and importance of each impact, it is reasonably determined by the Lead Agency that: NA. The Proposed Action will not result in any large and important impact(s) an is one that will not have a significant impact on the environment; therefore, A NEGATIVE DECLARATION WILL BE PREPARED. []B. Although the proposed action could have a significant impact on the environment, there will not be a significant effect for this Unlisted Action because the mitigation measures described in PART 3 have been required; therefore, A CONDITIONED NEGATIVE DECLARATION WILL BE PREPARED. �C. The proposed action may result in one or more large and important impacts that may have a significant impact on the Name of Action: Amendments to the Waterfront Zoning Districts Name of Lead Agency: Name and Title of Responsible Officer in Lead Agency: Signature of Responsible Officer in Lead Agency: Signature of Preparer: Date: Page 1 of 19 Proposed Amendments to the Waterfront Zoning District - 1/15/2011 Full Environmental Assessment Form FULL ENVIRONMENTAL ASSESSMENT FORM PART 1— PROJECT INFORMATION Prepared by Project Sponsor NOTICE: This document is designed to assist in determining whether the action proposed may have a significant effect on the environment. Please complete the entire form, Parts A through E. Answers to these questions will be considered as part of the application for approval and may be subject to further verification and public review. Provide any additional information you believe will be needed to complete Parts 2 and 3. It is expected that completion of the Full Environmental Assessment Form (FEAF) will be dependent on information currently available and will not involve new studies, research or investigation. If information re uirin such additional work is unavailable so indicate and s ecifi, each instance Name of Action: Amendments to the Waterfront Zoning Districts Location of Action: City of Ithaca Name of Applicant/Sponsor: City of Ithaca Address: ity/fown/Village: State: ZIP: Business Phone: Name of Owner(If Different): Address: City/Town/Village: State: ZIP: Business Phone: j:lgroupslplanning and own dev commit ee12011 planning and economic development committeekommon counci0waterfrontlwf -2011 feaf09-213.doc Page 2 of 19 Proposed Amendments to the Waterfront Zoning District -111512011 Full Environmental Assessment Form tescription of Action: The proposed action is an amendment to the City of Ithaca Zoning Code in order to stablish two consolidated waterfront zoning districts, the WF -I and the WF -2 district. The following roperties are proposed to be rezoned from their current zoning designation to WF -1: 6.-2-1.1, 17.-1-1.2, 17.4-2, 23.4-1, 21-2-1, 21-2-2, 24.4-1, 37.4-1, 37.-1-2, 37.-1-3, 37.44.1, 37.44.2, 3.4-4, 41-1-5, 52.-1-1.1, 52.4-1.2, 52.4-13, 525. -6 -1, 58.4-1, 58.4-2, 58.4-3, 58:1 -4, 58.-1-5, 58.4-6 8.4-7, 58.-2-1.1, 58.-2-1.2, 58.-2-1.3, 58.-7-1.1, 58.-7-1.2, 58.-7-3, 58.-7-5, 58.-7-8, 73.4-10, 73.-1-11, 73: -9, 73.-8-1, 71-9-10, 71-9-12, 73:9 -4, and 71-9-9 to following properties are proposed to be rezoned from their current zoning designation to WF -2: .-1-3, 37: 14.2, 43: 1 -1, 43.4-2,41-1-3, 41-2-1.42, 59.-8-1, 52.-2.3, 52.-2-4, 52.-3-1.12, 58.-3-1, 58. -3 -2 .-3-3,58.-3-4, 58.-3-7, 58.4-1.13, 58.4-1.2, 58.4-10.2, 58.-4-21,58.-5-1, 58. -6 -1, 59.4-2, 72.-6-2, 73.-2- 71- 2 -3, 71-3-1, 71-3-2, 73 -3 -3, 71-5-2.1, 71-5-3, 73.-6-1, 79.4-1, 79.-l-2.1, 79.-1-2.2, 79. -1 -3, 79.-1-4, .40-1, and 79.-2-1.2 jagroupstplammng and econ dev committ" 011 planning and economic development committe elcommon councillwaterfrontlwf-2011- feafo9- 28.doc Page 3 of 19 Proposed Amendments to the Waterfront Zoning District - 111512011 Fat] Environmental Assessment Form Please Complete Each Question- dndicate N/A if not applicable A. SITE DESCRIPTION (Physical setting of overall project, both developed and undeveloped areas.) 1. Present Land Use: Urban Olndustrial � Commercial � Public ❑Q Forest ❑❑ Agricultural M Other:_ 2. Total area of project area: —.118 Acres square feet Chosen units a l t0 following section also Approximate Area Units in qggsfiin 1 a l to this section a. Meadow or Brushland (non-agricultural) Presentl After Com letion b. Forested c. Agricultural d. Wetland [az per Articles 24 of Environmental Conservation L (ECL)] Pe. Water Surface Area 11 f. Public 25 25 Water Surface Area �lh. Unvegetated (rock earth or fill i. Roads, buildin sand other aved surfaces qL 0� qp '. Other indicate e a. What is predominant soil type(s) on project site (e.g. HdB, silty loam, etc.): Howard - Valois b. Soil Drainage: Well Drained 100 %of Site ❑ Moderately Well Drained %of Site Poorly Drained % of Site Its. Are there bedrock outcroppings on project sites Ures X o /A _ 4b. What is depth of bedrock? NA (feet) c. What is depth to the water table? NA (feet) 5. Approximate percentage of proposed project site with slopes: 0 -10% 100 % 10 -I S %_% :115% or greater % I a. Is project substantially contiguous to, or does it contain a building, site or district, listed on or eligible for the National or State Register of Historic Places? Alyes []No ❑N /A- Chemung Canal Trust Company b. Or designated a local landmark or in a local landmark district? Com Tyes ❑No ❑N /A — Chemung Canal Trust an j:lgroupslplanning and ecan dev comminee12011 planning and economic development committWcommon councillwalertron6wf -2011 feaM.2adoc Page 4 of 19 proposed Amendments to the Waterfront Zoning District -111512011 Full Environmental Assessment Form Do hunting or fishing opportunities presently exist in the project area? es []No QtJ /A If yes, identify each species: j:lgroupstplanning and man dev committee @011 planning and economic development committeel:ommon round Rwatedrontlwf -2011 feafD9- 28.doc Page 5 of 19 Proposed Amendments to the Waterfront Zoning District - 1/15/2011 Full Environmental Assessment Form SITE DESCRIPTION (Concluded) 8. Does project site contain any species of plant or yes X�IV'o �I /A animal life that is identified as threatened or endangered? According to: Identify each Species: 9. Are there any unique or unusual landforms on the es �lo ❑ N/A project site? (i.e., cliffs, other geological ]scribe: formations) 10. Is the project site presently used by the es []No �1 /A recreation area? community neighborhood as an open space or If yes, explain: Farmer's Market and Inlet Island omenade 11. Does the present site offer or include scenic views 0, es QNo ❑N /A known to be important to the community? ]scribe: Waterfront views 12. Is project within or contiguous to a site es �X No �N /A designated a Unique Natural Area (UNA) or critical environmental area by a local or state Describe: agency? 13. Streams within or contiguous to project area: a. Names of stream or name of river to which it is a tributary: Ca u a Inlet and Flood Control Channel, 14. Lakes, ponds, wetland areas within or contiguous Name: Cayuga Lake to project area: b. Size in acres 15. Has the site been used for land disposal of solid es X]lo QN /A or hazardous wastes? Describe: 16. Is the site served by existing public utilities? QNo QIJ /A a. If Yes, does sufficient capacity exist to allow connection? []No ❑N /A Lres b. If Yes, will improvements be necessary to ®No Q N /A allow connection? y1groupslplanning and econ dev committeel20l l planning and economic development commitleelcommon councillwatedronllwf -2011. feaf09-28.doc Page 6 of 19 Proposed Amendments to the Waterfront Zoning District - 1115/2011 Full Environmental Assessment Form B. PROJECT DESCRIPTION 1. Physical dimensions and scale of project fill in dimensions asjppr cpriate Ia. Total contiguous area owned by roject sponsor in acres: NA lb. Project acreage developed: 78 Acres initial) 78 Acres ultimate) Ic. Project acreage to remain undeveloped: NA Id. Length of project in miles: if appropriate) NA or feet: NA le. If project is an expansion, indicate Percent of chap a ro osed: NA If. Number of off-street parking spaces existing: NA proposed:_ NA Ig. Maximum vehicular trips generated (upon completion of project) per day: NA and per hour: NA lb. Height of tallest proposed structure: feet. 68 feet and 5 stories-proposed maximum allowable height I'. Linear feet of frontage along a public street or thoroughfare that the pnject will occupy? NA 2. Specify what type of natural material (i.e. rock, earth, etc.) and how much will be removed from the site: NA or added to the site: NA Specify what type of vegetation (trees, shrubs, ground cover) and how much will be removed from the site: acres: NA type of vegetation: NA 4. Will any mature trees or other locally important vegetation be removed by this project? NA 5. Are there any plans for re- vegetation to replace that removed during construction? NA �6. If single phase project anticipated period of construction NA months (including demolition) 7. If multi-phase ro'ect antici aced period of construction NA months (including demolition) �7a. Total number of phases anticipated: NA 7b. Anticipated date of commencement for firs[ phase NA month NA ear, includin demolition 7e. Approximate completion date of final phas month NA ear. d. Is phase one financially dependent on subsequent phases? Mes [❑]No ❑X /A I8. Will blasting occur during construction? ®Yes ONO ® /A; if yes, explain: 9. Number of'obs generated: during construction NA after project is completed 10. Number ofjobs eliminated by this project: NA Explain: 11. Will project require relocation of any projects or facilities9oyes MNo [Q]N/A; if yes, explain: 12a. Is surface or subsurface liquid waste disposal involved`>DYes ONO �N /A; if yes, explain: 12b. If 412a is yes, indicate ly a ofwaste (sewage, industrial, etc): NA 12c. If surface disposal, where specifically will effluent be discharged? NA 13. Will surface area of existing lakes, ponds, streams, or other surface watetwa s be increased or decreased j:lgroupslplannmg and econ dev committee12011 planning and economic development committeedommon councillwatedrontlwt-2011- feaf09- 28.doc Page 7 of 19 Proposed Amendments to Me Waterfront Zoning District -111512011 Full Environmental Assessment Form j:kdroups{planning and econ dev committee12011 planning and economic development commhleekommon counci1lwetedronu%d.2011- feaf08- 28.doc Page 8 of 19 by proposal9oyes ❑nN'o &/A; if yes, explain: 14a. Will project plain? or any portion of project occur wholly or partially within or contiguous to the 100 year Flood ❑X Yes [-]No ON /A PROJECT DESCRIPTION Concluded 14b. Does project or an onion of pro -ect occur whop or artiall within or contiguous to: a u a Iale Fall Creek, ascadilla Creek a u a La ix Mile Cree Silver Creek? Circle all [hat a ply) 14c. Does project or any portion of project occur wholly described in Article 24 Of the ECL90yes [&o or partially within or contiguous to wetlands as [EI]N/A; 14d. If #14a, b or c is yes, explain: NA 15a. Does project involve disposal or solid wasteloyes ® o ON /A; 15b. If # 15a is yes, will an existing solid waste disposal facility be used? Dyes ONO ® 15c. If #15b is yes, give name ofdisposal facility: NA and its location: 15d. Will there be any wastes that will not go into a sewage disposal system or into a sanitary landfill Q ayes ❑Mo ❑X /A; if yes, explain: 15e. Will any solid waste be disposed of on site? ' Yes ONo a/A; if yes, explain: 16. Will project use herbicides or pesticides? ayes []No © /A; if yes, specify: 17. Will project affect a building or site listed on or eligible for the National or State Register of Historic Places or a local landmark or in a landmark district? ❑X es [❑�Jo ON/A; if yes, explain: Chernmill Trust Building is located within bounds of area to be rezoned 18. Will project produce odors? [1fYes U]]No © /A; if yes, explain: 19. Will project product operating noise exceed the local ambient noise level during construction? ❑O l'es ❑ONo M /A; After construction9[E]]Yes ❑MNo ® /A 0. Will project result in an increase of energy use.es [No ® /A; if yes, indicate type(s) 1. Total antici ated water usage per day: aWda . NA Source of water NA j:kdroups{planning and econ dev committee12011 planning and economic development commhleekommon counci1lwetedronu%d.2011- feaf08- 28.doc Page 8 of 19 Proposed Amendments to the Watertmnl Zoning District - 111512011 Full Environmental Assessment Form C. ZONING AND PLANNING INFORMATION 1. Does the proposed action involve a planning or zoning decision? ® es o LE_IJNUA; if yes, indicate the decision required: ®Zoning Amendment ozoning Variance Mew /revision of master plan FOISubdivision Site Plan Upecial Use Permit ❑ esource Mana ement Plan ther: 2. What is the current zoning classification of site9 WF -la, WF -lb, WF lc,WF- ld,WEDZ- Ia,M -1,I -I 3. If the site is developed as permitted by the present zoning, what is the maximum potential development? Under existing zoning the maximum allowable height for WEDZ -la is 5 stories with 1000% lot coverage for parcels50' or less in size and 90% for larger parcels, the maximum allowable height for 1 -1 is 4 stories with 50% lot coverage, WF -la is a no build zone, WF -la allows 1 story buildings, WF -lc has a maximum height of 3 stories and WF -Id has a maximum allowable height of 5 stories. All of the WF properties currently allow for 100% lot coverage for arcels50' or less in size and 90% for larger parcels, 4. Is proposed use consistent with present zoning? ❑❑Yes ® o ❑❑N /A 5. If #4 is no, indicate desired zoning: A consolidated zone to be called the WF -I zone. 6. If the site is developed by the proposed zoning, what is the maximum potential development of the site? The proposed WF -I and WF -2 zones would have a maximum allowable height of 5 stories. 7. Is the proposed action consistent with the recommended uses in adopted local land -use plans? ® es Mo Q /A; If no, explain: 8. What is the dominant land use and zoning classification within a Y. mile radius of the project? (e.g. R -la or R -16) WF -la, WF -lb, WF -]q WF -ld, WEDZ -la, WEDZ -1b, SW -2, R -3aa, R -36, R -3a, R- 2c, R -2b, R -2a, R -la, P -1, M -1, 1 -I, B-4, B -2d, B -2e, B -2a, Adult Uses Is the proposed action compatible with adjacent land usesv es �No ❑�IV /A Explain: 10a. If the proposed action is the subdivision of land, how many lots are proposed? NA 106. What is the minimum lot size proposed? NA 11. Will the proposed action create a demand for any community- provided services? (recreation, education, police, fire protection, etc.) ? Dyes [@Vo ❑N/A Explain: If yes, is existing capacity sufficient to handle projected demand? r3Yes ®No WN /A Explain: 12. Will the proposed action result in the generation of traffic significantly above present levels? Dyes JERNo M/A If yes, is the existing road network adequate to handle the additional traffic? Dyes PNo ® /A Explain: p1groupslplanning and econ dev comminee12011 planning and economic development commitleelcommon councillwaterfronlW4011- feaf09-29.dac Page 9 of 19 Proposed Amendments to the Waterfront Zoning District - 111512011 Full Environmental Assessment Form D. APPROVALS 1. Approvals: a. Is any Federal permit required? Dyes © o M /A; Specify: b. Does project involve State or Federal funding or financing9oYes ® o � /A; If Yes, Specify: c. Local and Regional approvals: Agency Yes or No Approval Type of Required Submittal Approval Date Date Common Council Yes Adoption Board of Zoning Appeals BZA No Planning & Development Board No Ithaca Landmarks Preservation Commission LPC No Board of Public Works BP No Fire Department No Police Department No Building Commissioner No Ithaca Urban Renewal Agency IURA No yagroupslplanning and econ dev comm0lee12o11 planning and economic development commilteelcommon councillwaterfronl4f.2011- feaf09 -2adoc Page 10 of 19 Proposed Amendments to the Waterfront Zoning District - 111512011 Full Environmental Assessment Form E. INFORMATIONAL DETAILS Attach any additional information as may be needed to clarify your project. If there are or may be any adverse impacts associated with your proposal, please discuss such impacts and the measures which you propose to mitigate or avoid them. F. VERIFICATION 1 certify that the information provided above is true to the best of my knowledge. Applicant/Sponsor Name: Citvoflthaca Signature: Jennifer Kuunir Title: Economic Development Planner j:lgroupslplanning and econ dev committee12011 planning and economic development committcelcommon councillwatedrontlwf-2011- feaf09-28.doc Page 11 of 19 Proposed Amendments to the Waterfront Zoning District - 1/1512011 Full Environmental Assessment Form City of Ithaca Full Environmental Assessment Form PART 2 — PROJECT IMPACTS AND THEIR MAGNITUDES Proposed Amendments to the Waterfront Zoning Districts IMPACT ON LAND Small to Potential Can Impact be 1. Will there be an effect as a result of a physical change to project site? aX Yes E] No Moderate Large Reduced by Impact Impact Project Change? Any construction on slopes of 15% or greater, (15 foot rise per 100 foot of �� Dyes ❑ No length), or where the general slope in the project exceeds 10 %. Construction on land where the depth to the water table is less than 3 feet. F ❑Yes ❑No ❑yes ❑ No Dredging more than 100 cubic yards of material from channel of a Construction of parking facility/area for 50 or more vehicles. F—T— ❑Yes ❑ No Construction on land where bedrock is exposed or generally within 3 feet ❑yes ❑ No of existing ground surface. Extension of utility distribution facilities through a protected water F� Construction that will continue for more than 1 year or involve more than ❑Yes ❑No []Yes ❑ No one phase or stage. Evacuation for mining purposes that would remove more than 1,000 tons F ❑Yes [I No of natural material (i.e. rock or soil) per year. Construction of any new sanitary landfill. ❑Yes []No Construction in a designated floodway. —F-- []Yes []No Other impacts: Protect requires a SWPPP & A Recreational River Permit F X F ❑Yes ❑ No 2. Will there be an effect on any unique landfomts found on the site? (i.e. Small to Potential Can Impact be cliffs, go es, geological formations, etc.) ❑Yes Moderate Large Reduced by XMNo Impact Impact Project Change? Specific land forms: F—F— []Yes ❑No IMPACT ON WATER 3. Will project affect any water body designated as protected? (Under ll t M Potential Smao Moderate Can Impact be article 15 or 24 of the Environmental Conservation Law, E.C.L.) ❑Yes QX No Large Impact Impact Reduced by Project Change? Developable area of site contains a protected water body ❑yes ❑ No Dredging more than 100 cubic yards of material from channel of a �� ❑Yes ❑ No protected strea. Extension of utility distribution facilities through a protected water F� ❑Yes ❑No body. y: groupslplanning and econ dev committee12011 planning and economic development committeelcommon counciftwatedromW-2011- feaf0921fdoc Page 12 of 19 Proposed Amendments to the Waterfront Zoning District - 111512011 Full Environmental Assessment Form Other impacts: I ❑Yes []No 4. Will project affect any non - protected existing or new body of water? Proposed action is a zoning change. The boundaries of the zoning change are contiguous to Six Mile Creek, Casacadilla Creek, Cayuga Lake, and the Cayuga Inlet and Flood Control Channel. The Small to Moderate Potential Can Impact be proposed action is not expected to have a direct impact on any of these Impact Large Reduced by bodies of water. However, any future project proposals that result Impact Project Change? from this zoning change will undergo a full environmental assessment. Qx Yes ❑Nc A 100/6 increase or decrease in the surface area of any body of waterer more than a 10,000 sq. ft. of surface area. ❑Yes []No Construction, al or conversion of a body of water that exceeds 1Q000 ❑Yes []No sq s. . of surface area. Fall Creek, ix Mlle Cree Cascadilla Cree Silver Creek, a a ® Lake r the Ca Inlet? R F Dyes ❑No Other impacts: Zoning Boundary is contiguous to Six Mile Creek, X Cascadilla Creek, Cayuga Lake, and the Cayuga Inlet. F ❑Yes ❑No 5. Will ro ec affect surface or groundwater quality? Small to Moderate Potential Can Impact be -X ❑Yes No Imp Large Reduced by Impact Project Change? Project will require a discharge permit. ❑yes []No -F—F— Project requires use of a source of water that does not have approval to serve proposed project. �F- Yes L] No Construction or operation causing any contamination of a public water supply system. yes []No Project will adversely affect groundwater. ❑yes []No Liquid effluent will be conveyed off the site to facilities which presently do not exist or have inadequate capacity. F ❑Yes []No Project requiring a facility that would use water in excess of 20,000 gallons per day or 500 gallons per minute. ❑Yes ❑No Project will likely cause siltation or other discharge into an existing body of water to the extent that there will be an obvious visual contrast ❑Yes ❑ No Ito natural conditions. Proposed Action will require the storage of petroleum or chemical produc�gto . than 1, 100 gallons. �� ❑yes ❑No Other impacts: [Dyes []No 6. Will project alter drainage flow, drainage patterns or surface water ru ❑Yes QX No Small Small to Moderate Potential Large Impact Can Impact be Reduced b j:kyoupslplanning and econ dev committee12011 planning and economic development committeelcommon councillwaterholi twf -2011- feaf09- 29.doc Page 13 of 19 Proposed Amendments to the Waterfront Zoning District- 111512011 Full Environmental Assessment Form Impact I Project Change? Project would impede floodwater flows. [--F ❑Yes []No Project is likely to cause substantial erosion. F—F ❑Yes []No Project is inwmpatible with existing drainage patterns. F--F— ❑Yes []No Other impacts: Other impacts: [--F— ❑Yes ❑No 11IMPACT ON AIR 7. Will ro act affect air quality? ❑Yes t No Small to Moderate Impact Potential Large Impact Can Impact be Reduced by Project Change? (Project will induce 500 or mom vehicle trips in any 8 -hour period per day.( ace ❑ No Project will result in the incineration of (more than 2.5 tons of refuse per 24 -hour []Yes L] day. c of contaminants will exceed 5 Ibs per hour or a heat source m �� ❑Yes L] No prod producing m than million BTs p producing more than 10 million BTUs per hour. Other impacts: j— ❑Yes ❑No IMPACTS ON PLANTS AND ANIMALS 8. Will project affect any threatened or endangered s ecies? ❑Yes XX No Small to Moderate Impact Potential Large Impact Can Impact be Reduced by Project Change? Reduction any species listed on the New York or Federal list, using the site, found ❑Yes ❑ No over, on, or near site. Removal of any portion of a critical or acs []Na significant wildlife habitat. Application of pesticide or herbicide more than twice a year other than for agricultural ❑Yes []No purposes. Other impacts: ❑Yes []No 9. Will proposed action substantially affect non - threatened or non - endangered species? ❑Yes MX No Small to Moderate Impact Potential Large Impact Can Impact be Reduced by Project Change ?? ❑yes []No Proposed action would substantially I_ interfere with any resident or migratory fish jigroupslplammng and econ dev committee12011 planning and economic development cmno itteelcommon counci0waledrontlwf-2011- feaf09- 2B.doc Page 14 of 19 Proposed Amendments to the Waterfront Zoning District - 11158011 Full Environmental Assessment Form or wildlife species. Proposed action requires the removal or more than 1/2 acre of mature woods or []Yes ❑ No other locally important vegetation. Other impacts: ❑Yes QX No IMPACT ON AESTHETIC RESOURCE 10. Will the proposed action affect views, vistas or the visual character of the neighborhood or Small m lVi0 tl Potential Large t Can Impact be Reduced by Project Change? community? XD Yes I]No Impact Impact Proposed land uses, or proposed action components obviously different from ❑Yes ❑No sharp contrast to current surrounding land use a patterns, whether man -made or natural. Proposed land use, or proposed action components visible to users of aesthetic resources which will eliminate or significantly []Yes []NO reduce their enjoyment of aesthetic qualities of that resource. Proposed action will result in the elimination or major screening of scenic views known to be []Yes ❑ No important to the area Other impacts: The Proposed action is a zoning change. The boundaries of the zoning change include areas that contain scenic views of the waterfront. While the zoning change will not have a direct impact on the X I ]Yes []No views, it could allow for taller buildings than are currently allowed. Any future projects will have to undergo a complete environmental assessment to determine any impacts on views. IMPACT ON HISTORIC AND ARCHAEOLOGICAL RESOURCES 11. Will proposed action impact any site or structure of historic, prehistoric or Small to _ PIm Potential Large Can Impact be Reduced by Project aleonmlo real importance? �X MNo- p act Impact Change? We Proposed action occurring wholly or partially within or contiguous to any St site listed No ❑yes []No on or eligible for the National or State Register al or to impact of Historic Places. Any impact to an archaeological site or fossil I ❑Yes ❑No jagroupslplanning and econ dev committec12011 planning and economic development committeelcommen counci8waterfron0wf -20w feaf09- 28.doc Page 15 of 19 Proposed Amendments to the Waterfront Zoning District - 111512011 full Environmental Assessment farm bed located within the project site. J Proposed action occurring wholly or partially within or contiguous to any site designated as a local landmark or in a landmark district. - Zoning Boundary includes the Chairman, No ❑yes []No Canal Trust building. a locally and Impact nationally designated landmark The Zonm' change is not expected to have an impact on this buildiag. Other impacts: Proposed action is a zoning change. The zoning change does not have a direct impact on historic resources. Any X ❑yes []No projects that are proposed as a result of this zoning change will undergo a separate environmental review. jigroupslplanning and non dev committea12011 planning and economic development committeelcommon councillwatelfroriftf -2011 feaf09- 28,doc Page 16 of 19 Proposed Amendments to the Waterfront Zoning Ui5tncl- 111512011 Full Environmental Assessment Form IMPACT ON OPEN SPACE AND RECREATION 12. Will the proposed action affect the quantity or quality of existing or future open spaces or recreational opportunities? ❑Yes X]No Small to Impact Large Impact Can Impact be Reduced by Project Change? The permanent foreclosure of a future recreational opportunity. I�� ❑Yes []No A major reduction of an open space important to the com munity. �.es []No Other impacts: Impacts on Planned Cayuga Waterfront Trail ❑Yes ❑ No IMPACT ON UNIQUE NATURAL AREAS AND CRITICAL ENVIRONMENTAL AREAS 13. Will the proposed action impact the exceptional or unique characteristics of a site designated as a unique natural area (TINA) or a critical environmental area (CEA) by a local or state agenc ? ❑Yes No Small to Moderate Impact potential Large [mpaa Can Impact be Reduced by Project Change? Proposed Action to locate within a UNA or CEA? I� I []Yes []No Proposed Acton will result in a reduction in the quality of (�� the resource ❑Yes ❑No Proposed Action will impact the use, function or enjoyment of the resource []Yes []No Other impacts: ❑Yes ❑No IMPACT ON TRANSPORTATION 14. Will there be an effect to existing transportation s stems? Yes MX No Small to Moderate Impact Can Ira Potential Large Impact pact be Reduced by Project Change? and/or odds. present patterns of movement of people and/or goods. �� []No Proposed action will result in major traffic problems. I []Yes []No Other impacts: Dyes ❑No IMPACT ON ENERGY 15. Will proposed action affect the community's sources of fuel or energy supply? ❑Yes XD No Small to Potential Moderate Impact Large Impact Can Impact be Reduced by Project Change? Proposed action causing greater than 5% increase in any []Yes []No y4oups1planning and econ dev committeeB011 planning and economic development committeelcommmn councillwaterfrontlwf -2011. feaf09- 28.doc Page 17 of 19 Proposed Amendments to the Waterfront Zoning District -111512011 Full Environmental Assessment Form form of energy used in municipality. Proposed action requiring the creation or extension of an energy transmission or supply system to serve more than ❑Yes []No 50 single or two family residences. Other impacts: QYes []No IMPACT ON NOISE AND ODORS 16. Will there be objectionable odors, noise, glare, vibration or electrical disturbance during onstruction offer after B Small to Moderate Potential Large Can Impact Reduced by completion of this proposed action? ❑Yes a] No Impact Impact C project Change? Blasting within 1,500 feet of a hospital, school, or other sensitive facility? es No ❑ Odors will occur routinely (more than one hour per day) —� []Yes No Proposed action will produce operating noise exceeding the Dyes local ambient noise levels for noise outside of structure. � ❑ No Proposed action will remove natural barriers that would as as a noise screen. ❑Yes []No Other impacts: []Yes []No IMPACT ON PUBLIC HEALTH 17. W ill ro osed action affect ublic health and safety? P P Ty ❑Yes X No Small to Moderate Impact Potential Large Impact Can Impact be Reduced by Project Change? Proposed action will cause a risk of explosion or release of hazardous substances (i.e. oil, pesticides, chemicals, ❑Yes ❑ Nc radiation, etc.) in the event of accident or upset conditions, or there will be a chronic low -level discharge or emission. Proposed action may result in the burial of "hazardous wastes" in any form (i.e. Toxic, poisonous, highly reactive, ❑Yes ❑ No radioactive, irritating, infectious, etc.) Proposed action may result in the excavation or other disturbance within 2,000 feet of a site used for the disposal of []Yes []No solid or hazardous wastes. Proposed action will result in the handling or disposal or hazardous wastes n toxic, poisonous, highly reactive, �� Dyes ONO radioactive, irritating, g, infectious, etc., including wastes that are solid, semi - solid, liquid or contain gases.) Storage facilities for 50,000 or more gallons of any liquid fuel. es D No Use of any chemical for de- icing, soil stabilization or the I ❑Yes []No jagtoupslplammng and econ dev commitlee12011 planning and economic development commineekommon munciftwatedrontlwf-2011- fe3f09- 28.doc Page 18 of 19 Proposed Amendments to the Waterfront Zoning District - 1115121111 Full Environmental Assessment Form feet. Other impacts: insects or animal life on the premises ercial or industrial property in excess GROWTH AND CHARACTER OF 18. Will proposed action affect the character of the existing common: .9 MX Yes hNo The population of the City in which the proposed action is located is likely to grow by more than 5% of resident human Dyes ❑No OR NEIGHBORHOOD Small to Potential Can Impact be Reduced by Moderate Large Impact Project Change? Impact []Yes []No The municipal budgets for capital expenditures or operating services will increase by more than 5% per year as a result of ❑Yes []No this proposed action. Proposed action will conflict with officially adopted plans or ❑yes ❑ No ¢pals: action will cause a change in the density of land use. ❑Yes [I NO The proposed action will replace or eliminate existing facilities, structures, or saves of historic importance to the ❑Yes []No community. Development will create li demand for additional community services (e.g. schools, police, and lire, etc. ❑Yes []No Proposed action will set an important precedent for future actions. �� ❑Yes ❑ No Proposed action will relocate 15 or more employees in one or more businesses. I� ❑Yes [IN. - Other impacts: The proposed action is a rezoning, which R []Yes []No could lead to increased density in appropriate areas. If any action in part 2 is identified as a potential large impact, or if you cannot determine the magnitude of impact, proceed to part 3. jagroupstplanning and econ dev committee12011 planning and economic development commiltme common counciliwaterfrorAW -20116 feaf09- 28.doc Page 19 of 19 13. INDIVIDUAL MEMBER— FILED RESOLUTIONS: 13.1 Alderoerson Clairborne - Resolution to Cornell University Administrators Reaarding the Change in Status for the Africans Studies and Research Center WHEREAS, the founding of the Cornell University's Africana Studies and Research Center (ASRC) in 1969 was barn from the proclaimed and generally agreed -upon terms of providing a safe intellectual, physical, and social space for Black students during a period of overt hostility towards the university's students of color, and WHEREAS, the original institutional structure of ASRC as a cross - disciplinary and intercollegiate unit has been intentionally designed by the university administration to help it advance its unique intellectual, cultural, and scholar - activist goals, and WHEREAS, for over 42 years, and as this nation's first such institution, ASRC's unique intercollegiate status has stood as a model to other Africans ethnic studies programs across the nation and the globe yet its faculty, students, and staff have said publicly that they feel denied in having any meaningful say in ASRC's continued destiny, and WHEREAS, a part of that model has been the building of bridges and bonds during those 42 years between ASRC's faculty, staff, and students with communities within and around the City of Ithaca that has helped further enhance the names of both ASRC and Cornell across our local community, and WHEREAS, the stellar reputations of Cornell and many institutions within it, including ASRC, attract scores of people to the university and the City of Ithaca — be they students, their families, faculty, or staff — stimulating our local economy repeatedly during any year, and WHEREAS, a number of said people decide whether to live in Ithaca year round, some permanently, based on their Comell -in- Ithaca experience, and WHEREAS, the City of Ithaca Common Council recognizes the very difficult choices facing Cornell's administration as it continues to deal with the current negative budget climate, and WHEREAS, while acknowledging that Cornell's top administration, its Board of Trustees, and the City's Mayor and Common Council are separate entities, Common Council also recognizes that decisions made by one body may have ramifications on areas of responsibility of the other, and WHEREAS, the Office of Cornell Provost Ken Fuchs announced on June 2, 2011, that the administration would move forward with implementing its plan to align ASRC, administratively, under the College of Arts and Sciences; and that on August 29, 2011, the Dean of Arts and Sciences announced the appointment of interim leadership at Africana, leadership different from the recommendation by a majority of the faculty at Africans, and WHEREAS, people potentially affected by the restructuring have asked repeatedly to have input in the concept and not be limited to discussing the proposal's implementation, and WHEREAS, Cornell's administration has met with several groups in recent months to discuss the realignment, limitations of the current structure, and the merits of the proposal for ASRC and other aspects of Cornell's academic entities, and WHEREAS, the Common Council is concerned that the progression of said realignment has the potential to diminish long- standing relationships with communities within and around the city, and WHEREAS, Cornell has built a great reputation as a developer of leadership through empowerment and has stated that its restructuring would be done in collaboration with those directly involved in any change, now, therefore be it RESOLVED, That the City of Ithaca Common Council respectfully requests that the top administration of Cornell University consider all of the implications of its realignment of the Africans Studies and Research Center, and be it further RESOLVED, That given the decision to move ahead with implementation, Common Council still encourages Cornell's administration to commit itself to an open dialogue and process with the support of the majority of ASRC's faculty in selecting its permanent leadership and strongly recommends that the Cornell administration treat the Africans faculty with the respect they have earned and include them fully in the process of restructuring Africans as they would with any other academic department, and be it further RESOLVED, That a copy of this resolution be sent to Cornell University President David J. Skorton, Provost W. Kent Fuchs, ASRC directors, and the members of Cornell's Board of Trustees. 14. MAYOR'S APPOINTMENTS: 14.1 A000intment to Natural Areas Commission —Resolution RESOLVED, That Aaron Donato be appointed to the Natural Areas Commission to fill a vacancy with a term to expire December 31, 2014.