HomeMy WebLinkAbout01-04-17 Common Council Meeting Agenda1019914V11a01150914Mel aLTA 1:1 :1110110
A Regular meeting of the Common Council will be held on Wednesday, January 4, 2017, at 6:00
p.m. in the Common 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:
5.1 Presentation to Common Council Regarding an Invasive Species Project Completed by
the Parks and Forestry Department of the City of Ithaca —Jeanne Grace, City Forester
6. PETITIONS AND HEARINGS OF PERSONS BEFORE COUNCIL:
7. PRIVILEGE OF THE FLOOR — COMMON COUNCIL AND THE MAYOR:
8. CONSENT AGENDA ITEMS:
Department of Public Information and Technology:
8.1 Annual Request of Downtown Ithaca Alliance to Permit Wine, Beer, and Hard Cider
Tasting and Sale of Bottled Wine, Beer, and Hard Cider at Their 2017 Events — Resolution
City Administration Committee:
8.2 Ithaca Police Department (IPD) - Reclassification of Financial Assistant Position to
Administrative Coordinator - Resolution
8.3 Ithaca Police Department (IPD) - Reclassification of One Data Entry Specialist to Financial
Clerk - Resolution
8.4 Finance/Controller's Office —Adoption of Municipal Finance Disclosure and Continuing
Disclosure Policies and Procedures - Resolution
8.5 Finance/Controller - Designation of Official Newspaper- Resolution
8.6 Finance/Controller — Collateral to Secure Deposits — Resolution
8.7 Finance/Controller - Public Employee's Blanket Bond — Resolution
8.8 Finance/Controller - Designation of Common Council Meetings — Resolution
8.9 Finance/Controller - Designation of Official Depositories — Resolution
8.10 Common Council - Approval of 2017 Travel Policy — Resolution
Common Council Meeting Agenda
January 4, 2017
Page 2
9. CITY ADMINISTRATION COMMITTEE:
9.1 Finance - Approval of 2015 City Single Audit - Resolution
9.2 A Resolution Authorizing the Issuance Pursuant to Section 90.00 and/or 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 Refunding (serial) Bonds",
and Providing for Other Matters in Relation Thereto and the Payment of the Bonds to be
Refunded Thereby
9.3 A Resolution Authorizing the Issuance of $6,464,450 Bonds of the City of Ithaca,
Tompkins County, New York, to Pay the Cost of Certain Capital Improvements in and for
Said City
9.4 A Resolution Authorizing the Issuance of an Additional $950,000 Bonds of the City of
Ithaca, Tompkins County, New York, to Pay Part of the Cost of the Stewart Avenue
Bridge painting and reconstruction project, in and for said city.
9.5 Approval of Amendment to the City of Ithaca Anti -Discrimination and Anti -Harassment
Policy - Resolution
9.6 An Ordinance to Amend Various Sections of the City of Ithaca Municipal Code Regarding
Discrimination
9.7 A Local Law to Amend Chapter 215 of the City of Ithaca Municipal Code entitled "Human
Rights Protection" Article V Entitled "Bias -Motivated Crimes"
9.8 Approval and Authorization to Execute CSEA DPW Unit Contract - (Proposed Motion to
Enter into Executive Session to Discuss Matters Relating to Collective Negotiations with
Bargaining Units) - Resolution
9.9 City Controller's Report
10. PLANNING AND ECONOMIC DEVELOPMENT COMMITTEE:
10.1 An Ordinance to Amend the City of Ithaca Municipal Code Chapter 325, Entitled
"Zoning" To Revise Entry and Building Length Requirements for the Collegetown Area
Form Districts
A. Declaration of Lead Agency for Environmental Review — Resolution
B. Determination of Environmental Significance — Resolution
C. Adoption of Ordinance
10.2 Authorization for Exemption from Real Property Taxes and Provision for In -Lieu of
Payments, with Regard to the Ithaca Neighborhood Housing Services, Inc. ("INHS")
Affordable Housing Scattered Site Preservation Project — Resolution
11. REPORTS OF SPECIAL COMMITTEES:
12. NEW BUSINESS:
12.1 Mayor's Appointment of Acting Mayor and Alternate Acting Mayor — Oath of Office
12.2 Appointment of Marriage Officers — Resolution
Common Council Meeting Agenda
January 4, 2017
Page 3
13. INDIVIDUAL MEMBER — FILED RESOLUTIONS:
14. MAYOR'S APPOINTMENTS:
14.1 Reappointments to Cable Access Oversight Committee — Resolution
14.2 Appointment to the Program Oversight Committee [POC] for the Community Housing
Development Fund - Resolution
15. REPORTS OF COMMON COUNCIL LIAISONS:
16. REPORT OF CITY CLERK:
17. REPORT OF CITY ATTORNEY:
18.
18.1
MINUTES FROM PREVIOUS MEETINGS:
Approval of the December 7, 2016 Common Council Meeting Minutes — Resolution
19. ADJOURNMENT:
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.
Julie Conley Holcomb, CMC
City Clerk
Date: December 29, 2016
►i,1A0111&[d:1►1BL\111ALTA 1.1
Department of Public Information and Technology:
8.1 Annual Request of Downtown Ithaca Alliance to Permit Wine, Beer, and Hard Cider
Tasting and Sale of Bottled Wine, Beer, and Hard Cider at Their 2017 Events — Resolution
WHEREAS, the Downtown Ithaca Alliance has requested permission for wine, beer, and hard
cider tasting and sales as part of their sponsored events for 2017, including, but not limited to,
the Chili -Cook Off, Apple Harvest Festival, Oktoberfest, and Chowder Cook -Off, now, therefore,
be it
RESOLVED, That the Downtown Ithaca Alliance be authorized to arrange for wine, beer, and
hard cider tasting and sale of bottled wine, beer, and hard cider at booths during their
sponsored events between January 1 and December 31, 2017; and, be it further
RESOLVED, That the Downtown Ithaca Alliance and participating wineries shall comply with all
applicable state and local laws and ordinances, and shall enter into an agreement providing that
it will hold the City harmless and indemnify the City on account of any claims made as the result
of the sale or tasting of wine, beer and hard cider on the Ithaca Commons; and, be it further
RESOLVED, That the Downtown Ithaca Alliance or the participating winery or cider company
shall agree to maintain liability insurance in the amount of $1,000,000.00 and Dram Shop Act
coverage in the minimum amount of $1,000,000.00 naming the City of Ithaca as an additional
insured, and shall provide evidence of such insurance to the City Clerk prior to the events.
City Administration Committee:
8.2 Ithaca Police Department (IPD) - Reclassification of Financial Assistant Position to
Administrative Coordinator - Resolution
WHEREAS, the Ithaca Police Department currently has one Financial Management Assistant
who directly oversees all accounting practices at the IPD; and
WHEREAS, the current role of Financial Management Assistant is not properly in line with the
actual job duties and more appropriately falls under the duties of Administrative Coordinator;
and
WHEREAS, the IPD seeks to reclassify the position of Financial Management Assistant to that of
Administrative Coordinator; and
WHEREAS, the local Civil Service Commission approved the reclassification on December 14,
2016; and
WHEREAS, the current salary for the IPD Financial Management Assistant is $46,368 and top
pay for the Administrative Coordinator is $58,826, a difference of $12,458. Funds for the salary
increase will be derived from the IPD 2017 budget as allocated via: the 1% municipal budget
increase; now, therefore be it
RESOLVED, That Common Council hereby approves of the addition of the position of
Administrative Coordinator, effective January 1, 2017, utilizing funds allocated from the 2017
IPD Budget.
BACK-UP ITEM 8.2
Civil Service Law, Section 22: Certification for positions. Before any new
City of Ithaca Civil Service Commission
position in the service of a civil division shall be created or any existing
position in such service shall be reclassified, the proposal therefore,
108 East Green Street - Ithaca, NY 14850
including a statement of the duties of the position, shall be referred to the
New Position Duties Statement
municipal commission having jurisdiction and such commission shall
Department head or other authority requesting the creation of a new position,
furnish a certificate stating the appropriate civil service title for the
prepare a separate description for each new position to be created except that one
proposed position Or the position to be reclassified. Any such new
description may cover two or more identical positions in the same organizational unit.
position shall be created or any such existing position reclassified only
Forward one typed copy to this Commission.
with the title approved and certified by the commission. Effective 1978.
1. Department Bureau, Division, Unit or Section Location of Position
Police 120 E. Clinton
2. Description of Duties: Describe the work in sufficient detail to give a clear word picture of the job. Use a separate paragraph for each kind
of work and describe the more important or time-consuming duties first. In the left column, estimate how the total working time is divided.
Job Title: Administrative Coordinator
Percent of
Accounts payable: Review invoices for accuracy and proper authorization, prepare vouchers and submit to City Hall.
Work
Verify submission of proper travel authorizations and handle employee reimbursements and travel expenses. Maintain
Time
vendor files and voucher back up records, audit payments, and report accordingly. Balance accreditation budget
30%
spreadsheet back to MUMS. Audit credit card purchases and report appropriate accounts and back up documentation to
Finance. Manage vendor contracts and documentation requirements.
15%
Payroll: Update and prepare weekly payroll spreadsheet for submission to City Hall. Review time -keeper entries for
accuracy. Calculate step increases and contractual payments; prepare necessary pink sheets. Maintain employee records
for retirement or separation calculations, and inquiries from other departments. Provide audit support.
10%
Accounts receivable: Collect front desk cash receipts, police auction funds and records payments for deposit at City
Hall. Audit transactions against incident reports. Submit time -sheets and reimbursement requests to the US Marshals
Services for Task Force participants. Oversee donations to K9 and Explorer accounts; manage expenditures under
donation guidelines. Assist IPD training in billing for hosted classes. Collect funds from county SWAT members for
uniform and equipment purchases.
10%
Grant reporting: Prepare financial reports, vouchers and maintain records for private, state and federal grants. Meet
quarterly deadlines for reimbursement requests.
10%
Workers Compensation Coordination: Report injury cases to insurance company. Collect and maintain confidential
records pertaining to 207c filings. Resolve billing issues. Prepare all necessary follow up reports and requests for
compensation. Manage 207c payroll tax exemptions. Maintain database of injury cases and prepare annual reports per
state mandate.
5%
Department Budget: Preparation of proposal including salary projections, account distributions, analysis of previous
years' spending, compilation of reports and supporting documentation.
5%
Supplies: Oversee purchases and maintain inventory levels of office supplies, first aid, and safety equipment for
department.
5%
Clothing Allowance: Create and maintain database for tracking all clothing allowance accounts for PBA members.
Deduct purchases and payouts, review for accuracy and appropriate purchases. Report individual balances quarterly to
all members.
Liaison to other departments such as HR, Payroll, Finance, IT, DPW and Parking. Active in city-wide efforts to
5%
implement best -practices. Assist employees with paperwork, questions or resolving issues. Assist with Fleet
maintenance records and printer maintenance requests.
3%
Facilitate new hire paperwork for permanent employees. Supervise hiring process of seasonal School Crossing Guards.
2%
Increase departmental efficiency and meet accreditation standards by working with senior staff to improve department
procedures. Examples include improvements to the payroll process, cash receipts protocols, and consolidation of grant
duties.
(Attach additional sheets if more space is needed)
3. Names and Titles of Persons Supervising this position (General, Direct, Administrative, etc.)
Name
Title
Type of Supervision
John Barber
Chief of Police
4. Names and Titles of Persons Supervised by Employee in this position
Name
Title
Type of Supervision
5. Names and Titles of Persons doing substantially the same kind and level of work as will be done by the incumbent of this new
position
Name
Title
Location of Position
June Overslaugh
Administrative Coordinator
IFD
JoAnne Phillips
Administrative Coordinator
IAWWTF
6. What minimum qualifications do you think should be required for this position?
Education: High School Years
College Years, with specialization in
College Years, with specialization in
Experience: (list amount and type)
Essential knowledges, skills and abilities:
Type of license or certificate required:
7. The above statements are accurate and complete.
Date: Title: Signature:
Certificate of Civil Service Commission
8. In accordance with the provisions of Civil Service Law Section 22, the City of Ithaca Civil Service Commission certifies that the
appropriate civil service title for the position described is:
Title:
Jurisdictional Classification:
Date: Signature:
Action by Legislative Body or Other Approving Authority
9. Creation of described position
❑ Approved
❑ Disapproved
Date: Sig nature:
Return One Completed Copy to Civil Service Commission
8.3 Ithaca Police Department {IPD] - Reclassification of One Data Entry Specialist to
Financial Clerk - Resolution
WHEREAS, the Ithaca Police Department currently has five Data Entry Specialists, however one
of the specialist is directly responsible for the complex time -keeping and the associated
financials that come along with shift work and collective bargaining requirements; and
WHEREAS, the current role of this particular Data Entry Specialist is not properly in line with the
actual job duties and more appropriately falls under the duties of Financial Clerk; and
WHEREAS, IPD seeks to reclassify one Data Entry position to that of Financial Clerk; and
WHEREAS, the local Civil Service Commission approved the reclassification on December 14,
2016; and
WHEREAS, the current salary for the IPD Data Entry Specialist is $38,064 and top pay for the
Financial clerk is $40,140, a difference of $2,076. Funds for the salary increase will be derived
from the IPD 2017 budget as allocated via: the 1% municipal budget increase; now, therefore
be it
RESOLVED, That one of the IPD Data Entry Specialist positions shall be reclassified as a Financial
Clerk; and, be it further
RESOLVED, That Common Council hereby approves of the addition of Financial Clerk effective
January 1, 2017, utilizing funds allocated for this purpose from the 2017 IPD Budget.
BACK-UP ITEM 8.3
Civil Service Law, Section 22: Certification for positions. Before any
City of Ithaca Civil Service Commission
new position in the service of a civil division shall be created or any
existing position in such service shall be reclassified, the proposal
108 East Green Street - Ithaca, NY 14850
therefore, including a statement of the duties of the position, shall be
New Position Duties Statement
referred to the municipal commission having jurisdiction and such
Department head or other authority requesting the creation of a new position,
commission shall furnish a certificate stating the appropriate civil
prepare a separate description for each new position to be created except that one
service title for the proposed position Or the position to be reclassified.
description may cover two or more identical positions in the same organizational unit.
Any such new position shall be created or any such existing position
Forward one typed copy to this Commission.
reclassified only with the title approved and certified by the commission.
Effective 1978.
1. Department Bureau, Division, Unit or Section Location of Position
Police 120 E. Clinton
2. Description of Duties: Describe the work in sufficient detail to give a clear word picture of the job. Use a separate paragraph for each kind
of work and describe the more important or time-consuming duties first. In the left column, estimate how the total working time is divided.
Job Title: Financial Clerk
Percent
Job Duty
of Work
Time
35%
Management of 10 comp distinct time banks for the PBA members, including entries of time earned
and time used, cashed out or forfeited. Includes verifying appropriate authorization on OT cards and
correct classification of time used (for example injury, 207c, training, etc).
15%
Process red cards from PBA members to request weekly deductions from their time banks for
payment through payroll or transfer into retirement accounts. Verify balances and report appropriate
categories to FMA for weekly payroll. Log, verify and request payment of Third Party Overtime to
officers in payroll spreadsheet. Entry of seasonal employees' time each week.
5%
Prepare Blue Book pages (monthly schedules of patrol staff) and City Court schedules for officers.
Scan completed pages with weekly blotter for permanent retention.
15%
Compilation of weekly time reports for PBA and CSEA members to be turned into Controllers
office. Research and resolve variances.
10%
Monthly analysis for FLSA payments to PBA members and notification of leave -time statistics and
schedule adjustments to senior staff. Monthly entries for earned accruals for PBA and CSEA
members. Semiannual reporting of Comp Time Paydown to 160 hours, Shift Differential payments,
annual cash out of Days Owed and payout calculations for retirements and separations. End of year
conversion of time as appropriate. Compile reports as needed for use in budget preparation and
workers' compensation cases.
5%
Maintain OSL Timekeeping system including employee set up, rate validations, schedule entry,
purging data, and training other employees.
5%
Provide assistance to officers and employees concerning payroll and time -keeping concerns.
5%
Maintain organized records for leave time related payouts; research historical records when
requested by retirement system or to fulfill FOIL requests.
Assist and provide coverage to Financial Management Assistant and Executive Assistant. Distribute
5%
mail and paystubs, prepare AP vouchers, review credit card statements, answer phones, accept
deliveries, deposits, and prepare payroll or other duties as requested. Front desk coverage as needed.
3. Names and Titles of Persons Supervising this position (General, Direct, Administrative, etc.)
Name
Title
Type of Supervision
Barry Banfield
Police Sergeant
Direct
4. Names and Titles of Persons Supervised by Employee in this position
Name
Title
Type of Supervision
5. Names and Titles of Persons doing substantially the same kind and level of work as will be done by the incumbent of this new
position
Name
Title
Location of Position
Diane Sweet
Financial Clerk
DPW
6. What minimum qualifications do you think should be required for this position?
Education: High School Years
College Years, with specialization in
College Years, with specialization in
Experience: (list amount and type)
Essential knowledges, skills and abilities:
Ability to operate a personal computer and utilize common office software programs.
Basic arithmetic computations involving fractions, decimals and percentages.
Ability to perform close, detailed work accurately.
Type of license or certificate required:
he above statements are accurate and complete.
EDaTitle: Signature:
Certificate of Civil Service Commission
8. In accordance with the provisions of Civil Service Law Section 22, the City of Ithaca Civil Service Commission certifies that the
appropriate civil service title for the position described is:
Title:
Jurisdictional Classification:
Date: Sig natu re:
Action by Legislative Body or Other Approving Authority
9. Creation of described position
❑ Approved
❑ Disapproved
Date: Sig natu re:
Return One Completed Copy to Civil Service Commission
8.4 Finance/Controller's Office —Adoption of Municipal Finance Disclosure and Continuing
Disclosure Policies and Procedures - Resolution
WHEREAS, the City of Ithaca is required to adopt disclosure and continuing disclosure policies
and procedures to ensure proper compliance with various securities law; now, therefore be it
RESOLVED, That Common Council hereby adopts the attached Municipal Finance Disclosure
and Continuing Disclosure Policies and Procedures for the City of Ithaca dated January 4, 2017.
BACK-UP ITEM 8.4
CITY OF ITHACA
Municipal Finance Disclosure
and
Continuing Disclosure Policies and Procedures
Dated , 2016
OHSUSA:765998702.1
Municipal Finance Disclosure
and
Continuing Disclosure Policies And Procedures
TABLE OF CONTENTS
Page
ARTICLEI General............................................................................................................. 1
Section1.1.
Purpose................................................................................................. 1
Section 1.2.
Disclosure Practices Working Group ................................................... 1
Section1.3.
Definitions............................................................................................ 1
Section 1.4.
Activities of the Disclosure Practices Working Group ........................ 2
Section 1.5.
Required Parties for Release of Official Statements ............................ 2
Section 1.6.
Required Parties for Other Disclosure Document Review .................. 2
ARTICLE II
Disclosure Documents..................................................................................... 2
Section 2.1.
Disclosure Documents......................................................................... 3
Section 2.2.
Other Potential Disclosure Documents ................................................ 3
ARTICLE III
Review Process................................................................................................ 3
Section 3.1.
Determination of "Disclosure Document" ........................................... 3
Section 3.2.
Review of Form and Content of Disclosure Documents ..................... 3
Section 3.3.
Review of Disclosure Documents other than Official
Statements and Continuing Disclosure Filings .................................... 5
ARTICLE IV
Training Policy................................................................................................. 5
Section4.1.
Training................................................................................................ 5
ARTICLE V
Document Retention Policies........................................................................... 6
Section 5.1.
Official Statements............................................................................... 6
Section 5.2.
Disclosure Documents other than Official Statements ........................ 7
ARTICLE VI
Annual Review................................................................................................. 7
Section 6.1.
Annual Review..................................................................................... 7
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OHSUSA:765998702.1
ARTICLE I
General
Section 1.1. Purpose. The purpose of the City of Ithaca Municipal Finance Disclosure and
Continuing Disclosure Policies and Procedures (these "Procedures") is to establish processes and
controls to (i) ensure that the financial disclosures that the City of Ithaca (the "City") makes are
accurate and comply with all applicable federal and state securities laws, and (ii) promote best
practices regarding disclosures relating to securities issued by the City.
These Procedures are being adopted by the Common Council as debt issuance disclosure best
practices.
The failure of the Common Council to comply with any provision of these Procedures shall not
affect the authorization or the validity or enforceability of any bonds, notes or other forms of
indebtedness that are otherwise issued by the City in accordance with law.
Section 1.2. Disclosure Practices Working Group. To better carry out the purposes set forth in
Section 1.1 of these Procedures, a Disclosure Practices Working Group (from time to time referred to
below as the "DPWG") is established. Membership of the DPWG shall consist of (1) the City
Controller (the "Controller"),and (2) the responsible representative of the financial advisory firm of
the City (the "Financial Advisor"). The City Mayor or a designee thereof may participate at will.
The City Attorney, together with the City's bond counsel ("Bond Counsel"), shall be legal advisors
to the DPWG. The City Attorney and the City's Bond Counsel shall assist the DPWG by review of
City Preliminary and Final Official Statements and other Disclosure Documents to advise the DPWG
on requirements of the federal securities laws.
Section 1.3. Definitions. Unless otherwise defined in this document, initially capitalized terms
used in these Procedures shall have the meanings set forth below:
"City" means the City of Ithaca, New York.
"City Financial Statements" means that portion of the IAR that are the audited financial
statements.
"Disclosure Coordinator" means the City official designated by the Common Council from
time to time to administer these Procedures. The Disclosure Coordinator shall be the City Controller.
The Disclosure Coordinator may designate any other responsible staff member of the City to act as
Deputy Disclosure Coordinator to participate in preparation of Disclosure Documents.
"Disclosure Documents" means those documents defined as such in Article II.
"Disclosure Practice Working Group" or "DPWG" means the Disclosure Practice Working
Group as identified under Section 1.2 of these Procedures.
"IAR" means the Independent Auditor's Report of the City including Notes to the Financial
Statements.
"MSRB" shall mean the Municipal Securities Rulemaking Board or any other entity
designated or authorized by the Securities and Exchange Commission (the "SEC") to receive filings
pursuant to Rule 15c2-12 under the federal Securities Exchange Act of 1934 ("Rule 15c2-12"), as the
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OHSUSA:765998702.1
same may be amended and modified from time to time, and includes the Electronic Municipal
Market Access System of the MSRB ("EMMA").
"0cial Statement" means those Disclosure Documents described in Section 2.1(A) hereof.
"Preparer" means those persons defined as such in Section 3.3(A).
"Procedures" means these Municipal Finance Disclosure and Continuing Disclosure Policies
and Procedures, as the same may be supplemented and amended from time to time.
Section 1.4. Activities of the Disclosure Practices Working Group. The DPWG shall consult as
often as necessary to fulfill its obligations for purposes specified in Section 1.1 hereof, including its
disclosure obligations in connection with the issuance of debt and its continuing disclosure
obligations thereafter. A bond or note due diligence session with the Controller, the City Attorney,
the City's Bond Counsel and Financial Advisor in attendance at such session or by tele -conference or
a series of tele -conferences or a combination thereof, of all, or a portion of the DPWG may serve this
purpose as to obligations in connection with the issuance of debt and production of any Official
Statement in connection therewith. Post -issuance annual continuing disclosure obligations may be
met by similar DPWG meetings or teleconferences. Physical meetings of the DPWG, if any, are
intended to be internal meetings of City staff, and shall not be deemed to be public meetings for
purposes of the Open Meetings Law of the State of New York.
Members of the DPWG and counsel to the DPWG may attend meetings in person or may participate
in meetings by telephone teleconference. The Disclosure Coordinator shall be required to keep a
record of such meetings and teleconferences, and a brief summary of the matters discussed.
Section 1.5. Required Parties for Release of Official Statements. The participation of the City
Controller, the City Attorney, the Bond Counsel and the Financial Advisor is required prior to the
time any City Official Statement is finalized and the Controller, must give final written approval
thereof to the Financial Advisor, retaining a copy thereof before public release thereof.
Section 1.6. Required Parties for Other Disclosure Documents Review. For all other
Disclosure Document review the Controller and the Financial Advisor are required parties.
ARTICLE 11
Disclosure Documents
Section 2.1. Disclosure Documents. For purposes of these Procedures, the term "Disclosure
Documents" shall mean (i) the City's documents and materials prepared or distributed in connection
with the City's disclosure obligations under applicable federal and state securities laws relating to its
securities and (ii) other disclosure that the DPWG shall determine to review and approve. Disclosure
Documents shall include, but not be limited to, the following:
(A) Preliminary and Final Official Statements, and Preliminary and Final Private
Placement Memoranda, including but not limited to any City financial information included therein,
relating to the City's debt securities, together with any supplements;
(B) (1) the City's Financial Statements, including but not limited to the Notes to the
Financial Statements thereto;
3
OHSUSA:765998702.1
(2) the City's Annual Financial Report Update Document ("AUD") filed
annually with the Office of the State Controller.
(C) any filing made by the City with the MSRB, whether made under a continuing
disclosure agreement to which the City is a party or made voluntarily, including annual financial
information and operating data information, and material events notices as defined in Rule 15c2-12;
Section 2.2. Other Potential Disclosure Documents. The term "Disclosure Documents" shall also
include any other disclosure that the DPWG shall determine is reasonably likely to reach the
investors or the securities markets and may be material to investors, including but not limited to press
releases, web site postings, and other communications required to be reviewed by the Controller as
potential representations of the City's financial condition to investors or the securities markets. See
Section 3.1 below.
ARTICLE III
Review Process
Section 3.1. Determination of "Disclosure Document". Whether a particular document or written,
posted or other form of communication is a Disclosure Document shall be determined by the DPWG,
including but not limited to, the determination whether a document should be filed voluntarily with
the MSRB (as provided in Section 2.1(C) above) or whether a communication is reasonably likely to
reach investors or the securities markets and may be material to investors. The Controller may seek
the advice of Bond Counsel to determine whether any document should be treated as a Disclosure
Document. For purposes of these Procedures, it shall be assumed that each document specifically
listed in Section 2.1, hereof is a "Disclosure Document" subject to the review process specified in
Section 3.2 hereof.
Section 3.2. Review of Form and Content of Disclosure Documents. The DPWG shall critically
review the form and content of each Disclosure Document. The DPWG may request a meeting or
tele -conference of all persons responsible for the preparation or review of the Disclosure Document.
Each bond resolution, tax anticipation note resolution and revenue anticipation note resolution will
include a delegation to the Mayor of the City as chief fiscal officer to finalize any offering document
to, among other things, include the most recent City financial information or other material
information relevant to investors, and to otherwise make corrections and clarifications to ensure that
such offering document complies with federal securities laws, and such delegation as to the offering
document may be further delegated to the City Disclosure Coordinator in accordance with these
Procedures.
(A) Disclosure Coordinator. The Disclosure Coordinator shall work with the bond
financing team (i.e., bond counsel , underwriter(s), underwriter's counsel, financial advisor, and
appropriate City staff), and such other individuals as appropriate given the nature of the financing, to
ensure that these Procedures are followed with respect to the preparation and/or dissemination of any
Disclosure Document.
(1) The Disclosure Coordinator shall be responsible for soliciting material
information from City personnel as and if needed.
4
OHSUSA:765998702.1
(2) The Disclosure Coordinator shall contact the individuals as soon as possible
to provide adequate time for such individuals to perform a thoughtful and critical review or
draft of those portions of the Disclosure Document assigned to them, if any.
(3) The Disclosure Coordinator shall maintain or cause to be maintained a
general log of all individuals or departments that were requested to review or draft in
connection with a Disclosure Document, including what sections such individuals or
department prepared or reviewed.
(4) The Disclosure Coordinator shall critically review each section of and all
financial and operating information contained in the Disclosure Document to the extent any
information provided therein is provided by a party other than the Disclosure Coordinator.
To the extent practicable, the Disclosure Coordinator shall endeavor to establish an "audit
trail" with respect to the preparation of any Disclosure Document. Of paramount importance
is that information concerning the City's financial condition is thoroughly and critically
compared for accuracy against the City's Financial Statements, including the notes of said
financial statements, and the other financial reports prepared and released by the City.
(5) The Disclosure Coordinator shall report any significant disclosure issues, and
concerns, if any, to the City Attorney and Bond Counsel. The City Attorney and the Bond
Counsel shall critically review the material submitted and undertake to assist the City to
develop appropriate disclosure.
Section 3.3. Review of Disclosure Documents other than Official Statements and Continuing
Disclosure Filings. The following procedures shall apply to those Disclosure Documents that are not
addressed in Section 2.1:
(A) Determination of Disclosure Document. Any City employee preparing (the
"Preparer") any information for release to the public that could be considered a Disclosure Document
shall notify the Controller of such information. The Controller shall timely make a determination
whether such information is a Disclosure Document under Section 2.1 with the assistance of the City
Attorney and Bond Counsel.
(B) Notify Controller. If the Controller determines that a document is a Disclosure
Document, the Preparer shall inform the Controller of the (i) expected completion date of the
Disclosure Document and (ii) the expected dissemination date of the Disclosure Document to the
Controller. The Controller shall be provided with a reasonable opportunity to review such Disclosure
Document.
(C) Involvement of City Attorney. The City Attorney , in consultation with Bond
Counsel, shall assist the Preparer to:
(1) identify material information that should be disclosed;
(2) identify other persons that may have material information or knowledge of
any information omitted from such Disclosure Document; and
(3) determine when the Disclosure Document is final and ready for release by the
Controller.
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(D) Prepare Source List. The Preparer shall keep a list of individuals or groups that have
contributed to the preparation of the Disclosure Document and a list of sources from which the
information summarized or updated in the Disclosure Document was derived. These lists shall be
submitted to the Controller along with the Disclosure Document.
ARTICLE IV
Training Policy
Section 4.1. Training.
(A) City officials or employees with responsibility for collecting or analyzing information
that may be material to the preparation of a Disclosure Document, as designated under Paragraph (B)
below, shall attend regular disclosure training sessions or educational forums necessary to stay up to
date with federal municipal bond disclosure requirements. Such training shall include information on
the City's disclosure obligations under applicable federal and state securities laws and such
individual's responsibilities and potential liability regarding such obligations. The Citv shall maintain
a record of such training which indicates the attendance thereof by City officials or employees.
(B) The determination as to whether an employee shall receive such training shall be
made by the Controller, in consultation (if necessary) with the City Attorney or Bond Counsel.
(C) The City Controller will consult with Bond Counsel as to new developments under
federal securities laws, or otherwise, to ensure that the City maintains the best practices regarding its
disclosure obligations.
(D) At the request of the Controller, the Bond Counsel shall conduct separate training
sessions for the City Controller and the members of the Common Council.
ARTICLE V
Document Retention Policies
Section 5.1. Official Statements.
(A) Materials Retained. For a Disclosure Document that is an Official Statement or
placement memorandum as referenced in Section 2.1(A), the Common Council, shall maintain a
central depository with the following materials, for a period of five years from the date of delivery of
the securities referenced in such Disclosure Document.
(1) the printed copy of the preliminary and final Official Statement (or
preliminary and final Offering Memoranda);
(2) the "deemed final" certification provided by a City official to the underwriter
of the securities in accordance with paragraph (b)(1) of Rule 15c2-12;
(3) any executed copies of the letters, requests, and certifications prepared and/or
delivered in connection the offering;
(4) the information and related sources referenced in the materials described in
(3) above;
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(5) the bond purchase agreement or official notice of sale, as applicable; and
(6) any written certification or opinions executed by a City official relating to
disclosure matters, delivered at the time of delivery of the related securities.
(B) Materials not Retained. These Procedures shall not require the DPWG to retain after
the date of delivery of the related securities the drafts of any of the materials referenced in subsection
(A) above.
Section 5.2. Disclosure Documents other than Official Statements. For Disclosure Documents
other than those described in Section 5.1(A) above, the Controller, shall maintain a central
depository, for a period of five years from the date the respective Disclosure Document is published,
posted, or otherwise made publicly available:
(1) the final version of the Disclosure Document,
(2) final versions of all transmittal letters, requests, and certifications relating to
information in the Disclosure Document,
(3) the information and related sources referenced in the materials described in
(2) above.
The Controller shall not retain the drafts of any such materials.
ARTICLE VI
Annual Review
Section 6.1. Annual Review. The Controller shall conduct an annual review and evaluation of
these Disclosure Policies and Procedures with Bond Counsel. As appropriate, the Common Council
shall amend these Disclosure Policies and Procedures to be consistent with changes in the federal and
state securities laws, pronouncements of the Securities and Exchange Commission and such other
matters as the Controller deems necessary or desirable, upon advice of the City Attorney and Bond
Counsel.
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8.5 Finance/Controller- Designation of Official Newspaper- Resolution
RESOLVED, That pursuant to Section C-113 of the City Charter, the Ithaca Journal be and is
hereby designated as the official newspaper of the City of Ithaca for the year 2017.
8.6 Finance/Controller —Collateral to Secure Deposits - Resolution
RESOLVED, That the collateral deposited by the Tompkins Trust Company, JP Morgan Chase and
M & T Bank as reported be approved as to form and sufficiency.
8.7 Finance/Controller- Public Employee's Blanket Bond - Resolution
RESOLVED, That pursuant to Section 11 of the Public Officers Law, the following Bond, which is
on file in the Office of the City Clerk, be, and is hereby approved in all respects for the year
2017.
Faithful Performance Blanket Bond Coverage by
Travelers Insurance Company $1,000,000
8.8 Finance/Controller- Designation of Common Council Meetings - Resolution
RESOLVED, That the regular meetings of the Common Council, for the year 2017, be held at
6:00 P.M., on the first Wednesday of each month, in the Common Council Chambers, at City
Hall, 108 East Green Street, Ithaca, New York, unless otherwise determined by Common
Council.
8.9 Finance/Controller - Designation of Official Depositories - Resolution
RESOLVED, That pursuant to Section C-34 of the City Charter, the Tompkins Trust Company, the
JP Morgan Chase Bank and the M & T Bank be, and they are, hereby designated as the official
depositories of all City Funds for the year 2017.
8.10 Common Council - Approval of 2017 Travel Policy - Resolution
WHEREAS, there is to be held during the coming official year a] the New York State Conference
of Mayors Annual Meeting and Training School; bj the New York State Conference of Mayors
Fall Training School for Fiscal Officers and Municipal Clerks, and other national and regional
conferences as applicable; and
WHEREAS, it is determined by the Mayor and Common Council that attendance by certain
municipal officials and City employees at one or more of these meetings, conferences or
schools benefits the municipality; now, therefore, be it
RESOLVED, That Common Council, the Mayor and City employees are hereby authorized to
attend said conferences or other applicable training events during 2017; and, be it further
RESOLVED, That the cost for all events must be derived from existing 2017 Departmental
Budgets with appropriate approvals obtained as applicable; and, be it further
RESOLVED, That this resolution shall take effect immediately.
llv1_l1]LTA 11►11.11.7e1%1MkiE e]►T►I►T►11111A:F
9.1 Finance - Approval of 2015 City Single Audit - Resolution
RESOLVED, That the Independent Auditor's Report for the period January 1, 2015 through
December 31, 2015, prepared by the accounting firm of Inserno & Company, formerly Ciaschi,
Dietershagen, Little and Mickelson & Company, LLP, be accepted to comply with all the City's
applicable Government Accounting Standards Board (GSB) Statement 34 and other related
audit and single -audit requirements.
Wayne Schon, Insero & Co. CPAs, LLP, reviewed the following non-compliance comments
identified during the 2015 Audit:
• Late filing of Single Audit Report
• Capital Project Accounting
• Fixed Asset Accounting
• Physical Inventory of Capital Assets
• Purchasing Policy
• Held Checks
9.2 A Resolution Authorizing the Issuance Pursuant to Section 90.00 and/or 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 Refunding (serial) Bonds", and
Providing for Other Matters in Relation Thereto and the Payment of the Bonds to be
Refunded Thereby
WHEREAS, the City of Ithaca, Tompkins County, New York (hereinafter, the "City") heretofore
issued an aggregate $5,803,167 Public Improvement (Serial) Bonds, 2008 Series A, pursuant to
various bond resolutions to pay the cost of various City purposes, such Public Improvement
(Serial) Bonds, 2008 Series A, being dated August 1, 2008 and maturing or matured on August 1
annually (the "2008A Bonds"); and
WHEREAS, the City heretofore issued an aggregate principal amount of $3,823,277 Public
Improvement (Serial) Bonds, 2008 Series B (Federally Taxable), pursuant to various bond
resolutions to pay the cost of various parking garage City purposes, such Public Improvement
(Serial) Bonds, 2008 Series B (Federally Taxable), being dated August 1, 2008 and maturing or
matured on August 1 annually (the "2008B Bonds"); and
WHEREAS, the City heretofore issued an aggregate principal amount of $1,090,084 Public
Improvement (Serial) Bonds, 2009 (Federally Taxable), pursuant to various bond resolutions to
pay the cost of various parking garage City purposes, such Public Improvement (Serial) Bonds,
2009 (Federally Taxable), being dated January 15, 2009 and maturing or matured on January 15
annually (the "2009 Bonds"); and
WHEREAS, the City heretofore issued an aggregate principal amount of $11,283,389 Public
Improvement (Serial) Bonds, 2010 Series A, pursuant to various bond resolutions to pay the
cost of various City purposes, such Public Improvement (Serial) Bonds, 2010 Series A, being
dated January 15, 2010 and maturing or matured on January 15 annually (the "2010A Bonds");
and
WHEREAS, the City heretofore issued an aggregate principal amount of $7,662,000 Public
Improvement (Serial) Bonds, 2010 Series B (Federally Taxable), pursuant to various bond
resolutions to pay the cost of various parking garage City purposes, such Public Improvement
(Serial) Bonds, 2010 Series B (Federally Taxable), being dated January 15, 2010 and maturing or
matured on January 15 annually (the "2010B 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 $2,735,000 outstanding principal balance of the 2008A Bonds maturing in 2018
and thereafter (the "2008A Refunded Bonds"), the $3,005,000 outstanding principal balance of
the 2008B Bonds maturing in 2018 and thereafter (the "2008B Refunded Bonds"), the $555,000
outstanding principal balance of the 2009 Bonds maturing in 2019 and thereafter (the "2009
Refunded Bonds"), the $6,450,000 outstanding principal balance of the 2010A Bonds maturing
in 2020 and thereafter, and the $5,885,000 outstanding principal balance of the 2010B Bonds
maturing in 2020 and thereafter (the "2010B Refunded Bonds", together with the 2008A,
2008B, 2009 and 2010A Refunded Bonds, the "Refunded Bonds"), each by the issuance of
refunding bonds pursuant to Section 90.00 or 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 $18,630,000
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 terms 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 $20,750,000 refunding bonds of the City pursuant to the provisions of
Section 90.00 or Section 90.10 of the Local Finance Law (the "City Refunding Bonds" or the
"Refunding Bonds"), it being anticipated that the amount of Refunding Bonds actually to be
issued will be approximately $18,980,000, 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 City Refunding Bonds shall each be designated substantially
"PUBLIC IMPROVEMENT REFUNDING 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-17 (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 and 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 as to Refunding Bonds refunding the 2008A
Refunded Bonds and the 2010A Refunded Bonds and as a separate single consolidated issue as
to Refunding Bonds refunding the 2008B Refunded Bonds, the 2009 Refunded Bonds, and the
2010B Refunded Bonds. 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 Clerk 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 name the City Clerk 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 g of Section 90.00 of the Local
Finance Law or subdivision 4 of paragraph j of Section 90.10 of the Local Finance Law, as
applicable, 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 the objects or purposes for which such
respective Refunded Bonds were issued is as described in Exhibit A attached hereto and hereby
made a part hereof;
(c) the last installment of the Refunding Bonds will mature not later than the expiration of
the period of probable usefulness of the objects or purposes for which said respective
Refunded Bonds were issued in accordance with the provisions of subdivision 1 of paragraph a
of Section 90.00 of the Local Finance Law or subdivision 1 of paragraph c of Section 90.10 of the
Local Finance Law, as applicable;
(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 B attached hereto and hereby made a part
hereof. 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 $18,980,000, and that the Refunding Bonds will mature, be of such terms, and bear
interest as set forth in said Exhibit B. 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 B. 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 90.00 or Section 90.10 of the Local Finance Law, as
applicable. 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 President
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 at private sale to
an underwriter to be determined by the City Controller (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 to the Underwriter. After the Refunding Bonds
have been duly executed, they shall be delivered by the City Controller to the Underwriter in
accordance with said purchase contract or to the winning purchaser by competitive bid 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. The City Controller shall be further authorized to issue said
Refunding Bonds pursuant to Section 90.00 or Section 90.10 of the Local Finance Law as said
officer shall determine necessary, in consultation with bond counsel to the City.
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.
EXHIBIT A
REFUNDED BOND ISSUES
OBJECTS OR PURPOSES
AND PERIODS OF PROBABLE USEFULNESS
$5,803,167 Public Improvement (Serial) Bonds, 2008 Series A
Objects or purposes, periods of probable usefulness, Section 11.00 Local Finance Law
subdivisions and bond resolution adoption dates all per Bond Determinations Certificate dated
August 1, 2008 incorporated herein by reference.
AND
$3,823,277 Public Improvement (Serial) Bonds, 2008 Series B (Federally Taxable)
Objects or purposes, periods of probable usefulness, Section 11.00 Local Finance Law
subdivisions and bond resolution adoption dates all per Bond Determinations Certificate dated
August 1, 2008 incorporated herein by reference.
AND
$1,090,084 Public Improvement (Serial) Bonds, 2009 (Federally Taxable)
Objects or purposes, periods of probable usefulness, Section 11.00 Local Finance Law
subdivisions and bond resolution adoption dates all per Bond Determinations Certificate dated
January 15, 2009 incorporated herein by reference.
AND
$11,283,389 Public Improvement (Serial) Bonds, 2010 Series A
Objects or purposes, periods of probable usefulness, Section 11.00 Local Finance Law
subdivisions and bond resolution adoption dates all per Bond Determinations Certificate dated
January 15, 2010 incorporated herein by reference.
AND
$7,662,000 Public Improvement (Serial) Bonds, 2010 Series B (Federally Taxable)
Objects or purposes, periods of probable usefulness, Section 11.00 Local Finance Law
subdivisions and bond resolution adoption dates all per Bond Determinations Certificate dated
January 15, 2010 incorporated herein by reference.
Each of the above -referenced objects or purposes shall be refunded by a pro -rata allocation of the Refunding
Bonds and amortized on a substantially level or declining debt service basis in accordance with paragraph d of
Section 21.00 and paragraph c of Section 90.10 of the Local Finance Law based upon presently outstanding
principal balances for each objector purpose.
0:I:I1:1k9.1
PRELIMINARY REFUNDING FINANCIAL PLAN
CITY OF ITHACA,
TOMPKINS COUNTY, NEW YORK
BACK-UP ITEM 9.2
Dec 15, 2016 11:04 am Prepared by RBC Capital Markets
Page 1
SOURCES AND USES OF FUNDS
City
of Ithaca
Refunding
of 2008 Series AB, 2009 and 2010
Series AB
Dated Date
03/01/2017
Delivery Date
03/01/2017
Refunding of
Refunding of
Refunding of
2008 Series B
2009
2010 Series B
Refunding of
Refunding of
(Federally
(Federally
(Federally
Sources:
2008 Series A
2010 Series A
Taxable)
Taxable)
Taxable)
Total
Bond Proceeds:
Par Amount
2,635,000.00
6,120,000.00
3,120,000.00
590,000.00
6,515,000.00
18,980,000.00
Premium
169,727.35
750,393.55
920,120.90
2,804,727.35
6,870,393.55
3,120,000.00
590,000.00
6,515,000.00
19,900,120.90
Refunding of
Refunding of
Refunding of
2008 Series B
2009
2010 Series B
Refunding of
Refunding of
(Federally
(Federally
(Federally
Uses:
2008 Series A
2010 Series A
Taxable)
Taxable)
Taxable)
Total
Refunding Escrow Deposits:
Cash Deposit
0.33
0.72
0.66
0.47
0.08
2.26
SLGS Purchases
2,783,766.00
6,827,864.00
3,097,481.00
583,426.00
6,465,461.00
19,757,998.00
2,783,766.33
6,827,864.72
3,097,481.66
583,426.47
6,465,461.08
19,758,000.26
Delivery Date Expenses:
Cost of Issuance
10,412.28
24,183.35
12,328.77
2,331.40
25,744.20
75,000.00
Underwriter's Discount
7,321.18
17,004.02
9,286.22
1,639.28
19,721.50
54,972.20
17,733.46
41,187.37
21,614.99
3,970.68
45,465.70
129,972.20
Other Uses of Funds:
Additional Proceeds
3,227.56
1,341.46
903.35
2,602.85
4,073.22
12,148.44
2,804,727.35
6,870,393.55
3,120,000.00
590,000.00
6,515,000.00
19,900,120.90
Page 1
Dec 15, 2016 11:04 am Prepared by RBC Capital Markets
SAVINGS
City of Ithaca
Refunding of 2008 Series AB, 2009 and 2010 Series AB
Date
Prior
Debt Service
Refunding
Debt Service
Savings
Present Value
to 03/01/2017
@ 3.2899665%
12/31/2017
485,476.89
327,461.02
158,015.87
155,884.40
12/31/2018
1,500,953.78
1,359,317.00
141,636.78
126,031.68
12/31/2019
1,584,353.78
1,451,056.50
133,297.28
113,743.69
12/31/2020
2,526,850.66
2,366,827.25
160,023.41
134,252.92
12/31/2021
2,529,091.28
2,361,352.25
167,739.03
136,429.87
12/31/2022
2,527,335.04
2,366,673.50
160,661.54
125,708.98
12/31/2023
2,516,628.78
2,357,986.25
158,642.53
119,788.73
12/31/2024
1,996,925.65
1,860,618.50
136,307.15
105,265.27
12/31/2025
1,882,735.02
1,756,669.75
126,065.27
93,925.50
12/31/2026
1,882,578.77
1,752,405.50
130,173.27
93,847.41
12/31/2027
1,876,553.76
1,750,742.25
125,811.51
87,555.85
12/31/2028
921,935.63
833,520.75
88,414.88
58,424.08
12/31/2029
915,771.88
826,614.00
89,157.88
56,965.48
12/31/2030
906,975.01
817,870.75
89,104.26
55,023.56
12/31/2031
900,650.01
807,409.75
93,240.26
55,760.38
12/31/2032
891,725.01
805,397.00
86,328.01
49,599.42
12/31/2033
560,043.76
523,153.50
36,890.26
21,920.28
12/31/2034
552,053.13
511,150.00
40,903.13
23,585.50
26,958,637.84
24,836,225.52
2,122,412.32
1,613,713.01
Savings Summary
PV of savings from cash flow 1,613,713.01
Plus: Refunding funds on hand 12,148.44
Net PV Savings 1,625,861.45
Page 2
Dec 15, 2016 11:04 am Prepared by RBC Capital Markets
SUMMARY OF REFUNDING RESULTS
City of Ithaca
Refunding of 2008 Series AB, 2009 and 2010 Series AB
Page 3
Refunding of
Refunding of
2008 Series B
Refunding of
2010 Series B
Refunding of
Refunding of
(Federally
2009 (Federally
(Federally
2008 Series A
2010 Series A
Taxable)
Taxable)
Taxable)
Total
Dated Date
03/01/2017
03/01/2017
03/01/2017
03/01/2017
03/01/2017
03/01/2017
Delivery Date
03/01/2017
03/01/2017
03/01/2017
03/01/2017
03/01/2017
03/01/2017
Arbitrage Yield
2.221208%
2.221208%
3.863013%
3.021084%
4.001229%
2.221208%
Escrow Yield
0.613833%
1.216121%
0.613834%
0.829691%
1.212043%
1.164567%
Value of Negative Arbitrage
18,451.45
122,331.88
41,194.82
10,767.46
310,576.85
503,322.46
Bond Par Amount
2,635,000.00
6,120,000.00
3,120,000.00
590,000.00
6,515,000.00
18,980,000.00
True Interest Cost
1.885448%
2.358285%
3.905562%
3.090024%
4.039241%
3.333138%
Net Interest Cost
1.971105%
2.542371%
3.931232%
3.092659%
4.066021%
3.463265%
All -In TIC
1.999321%
2.419147%
3.962335%
3.188507%
4.089104%
3.392320%
Average Coupon
3.742492%
4.357557%
3.896349%
3.029111%
4.035839%
4.063584%
Average Life
3.479
6.602
8.532
4.372
10.030
7.593
Weighted Average Maturity
3.532
6.698
8.532
4.372
10.030
7.561
Par amount of refunded bonds
2,735,000.00
6,450,000.00
3,005,000.00
555,000.00
5,885,000.00
18,630,000.00
Average coupon of refunded bonds
4.106640%
4.154557%
6.704845%
5.942466%
6.180740%
5.543105%
Average life of refunded bonds
4.033
6.596
9.615
4.530
10.753
7.958
Remaining weighted average maturity of refunded bonds
4.017
6.587
9.574
4.520
10.665
7.922
PV of prior debt
2,826,961.86
6,806,113.62
3,838,946.22
619,933.16
7,421,879.04
21,513,833.91
Net PV Savings
157,449.50
312,616.23
590,830.19
38,895.82
526,069.71
1,625,861.45
Percentage savings of refunded bonds
5.756837%
4.846763%
19.661570%
7.008256%
8.939162%
8.727115%
Percentage savings of refunding bonds
5.975313%
5.108108%
18.936865%
6.592512%
8.074746%
8.566183%
Page 3
Dec 15, 2016 11:04 am Prepared by RBC Capital Markets Page 4
SUMMARY OF BONDS REFUNDED
City of Ithaca
Refunding of 2008 Series AB, 2009 and 2010 Series AB
Maturity Interest Par Call Call
Bond Date Rate Amount Date Price
2008 Series A, 2008:
SERIAL 08/0112018
4.0009/6
410,000.00
08101/2017
100.000
08!01/2019
4.0009/6
430,000.00
08/01/2017
100.000
08/01/2020
4.125%
445,000.00
08/01/2017
100.000
08!01/2021
4.125%
465,000.00
08/01/2017
100.000
08!01/2022
4.125%
485,000.00
08/01/2017
100.000
08/01/2023
4.125%
500,000.00
08/01/2017
100.000
08!01/2024
6.625%
2,735,000.00
08/01/2017
100.000
2008 Series B (Federally Taxable), 200BB:
SERIAL 08/0112018
6.625%
120,000.00
08101/2017
100.000
08!01/2019
6.625%
130,000.00
08/01/2017
100.000
08/01/2020
6.625%
140,000.00
08/01/2017
100.000
08!01/2021
6.625%
150,000.00
08/01/2017
100.000
08/01/2022
6.625%
160,000.00
08/01/2017
100.000
08/01/2023
6.625%
170,000.00
08/01/2017
100.000
08!01/2024
6.625%
180,000.00
08/01/2017
100.000
0810112025
6.625%
190,000.00
08/01/2017
100.000
08!01/2026
6.625%
205,000.00
08/01/2017
100.000
08/01/2027
6.7009/6
220,000.00
08/01/2017
100.000
08!01/2028
6.7009/6
235,000.00
08/01/2017
100.000
08!01/2029
6.750%
250,000.00
08/01/2017
100.000
08/01/2030
6.750%
265,000.00
08/01/2017
100.000
08!01/2031
6.750%
285,000.00
08/01/2017
100.000
08/01/2032
6.750%
305,000.00
08/01/2017
100.000
3,005,000.00
2009 (Federally Taxable), 2009:
18,630,000.00
SERIAL 01/1512019
5.625%
80,000.00
01/15/2018
100.000
01/15/2020
5.625%
85,000.00
01/15/2018
100.000
0111512021
5.750%
90,000.00
01/15/2018
100.000
0111512022
6.0009/6
95,000.00
01/15/2018
100.000
01/15/2023
6.0009/6
100,000.00
01/15/2018
100.000
0111512024
6.125%
105,000.00
01/15/2018
100.000
555,000.00
2010 Series A, 2010A:
SERIAL 01/1512020
4.0009/6
690,000.00
01115/2019
100.000
01/15/2021
4.0009/6
720,000.00
01/15/2019
100.000
0111512022
4.0009/6
755,000.00
01/15/2019
100.000
01/15/2023
4.0009/6
785,000.00
01/15/2019
100.000
01/15/2024
4.0009/6
820,000.00
01/15/2019
100.000
0111512025
4.0009/6
855,000.00
01/15/2019
100.000
01/15/2026
4.250%
895,000.00
01/15/2019
100.000
0111512027
4500%
930,000.00
01/15/2019
100.000
6,450,000.00
2010 Series B (Federally Taxable), 2010B:
SERIAL 01/1512020
6.0009/6
275,000.00
01115/2019
100.000
01/15/2021
6.0009/6
290,000.00
01/15/2019
100.000
0111512022
6.0009/6
300,000.00
01/15/2019
100.000
0111512023
6.0009/6
315,000.00
01/15/2019
100.000
01/15/2024
6.0009/6
335,000.00
01/15/2019
100.000
0111512025
6.0009/6
350,000.00
01/15/2019
100.000
01/15/2026
6.0009/6
365,000.00
01/15/2019
100.000
0111512027
6.0009/6
385,000.00
01/15/2019
100.000
01/15/2028
6.125%
405,000.00
01/15/2019
100.000
01/15/2029
6.125%
425,000.00
01/15/2019
100.000
0111512030
6.250%
445,000.00
01/15/2019
100.000
01/15/2031
6.250%
465,000.00
01/15/2019
100.000
0111512032
6.250%
485,000.00
01/15/2019
100.000
01/15/2033
6.250%
510,000.00
01/15/2019
100.000
0111512034
6.375%
535,000.00
01/15/2019
100.000
5,885,000.00
18,630,000.00
Dec 15, 2016 11:04 am Prepared by RBC Capital Markets
BOND PRICING
City of Ithaca
Refunding of 2008 Series AB, 2009 and 2010 Series AB
Maturity
Bond Component Date
Amount
Rate
Yield
Price
Premium
(-Discount)
Takedown
Serial Bonds:
01/15/2018
400,000
3.000%
1.030%
101.705
6,820.00
2.500
01/15/2019
415,000
3.000%
1.300%
103.133
13,001.95
2.500
01/15/2020
1,085,000
3.000%
1.530%
104.114
44,636.90
2.500
01/15/2021
1,125,000
4.000%
1.740%
108.425
94,781.25
2.500
01/15/2022
1,180,000
4.000%
1.940%
109.531
112,465.80
2.500
01/15/2023
1,225,000
4.000%
2.090%
110.501
128,637.25
2.500
01/15/2024
775,000
4.000%
2.250%
111.083
85,893.25
2.500
01/15/2025
810,000
4.000%
2.390%
111.488
93,052.80
2.500
01/15/2026
850,000
5.000%
2.560%
119.253
163,650.50
2.500
01/15/2027
890,000
5.000%
2.690%
119.908
177,181.20
2.500
8,755,000
920,120.90
Serial Bonds (Federally Taxable):
07/15/2017
60,000
1.600%
1.600%
100.000
2.500
01/15/2018
250,000
1.820%
1.820%
100.000
2.500
01/15/2019
345,000
2.180%
2.180%
100.000
2.500
01/15/2020
625,000
2.550%
2.550%
100.000
2.500
01/15/2021
635,000
2.750%
2.750%
100.000
2.500
01/15/2022
650,000
3.030%
3.030%
100.000
2.500
01/15/2023
665,000
3.230%
3.230%
100.000
2.500
01/15/2024
680,000
3.420%
3.420%
100.000
2.500
01/15/2025
595,000
3.570%
3.570%
100.000
2.500
01/15/2026
610,000
3.670%
3.670%
100.000
2.500
01/15/2027
635,000
3.770%
3.770%
100.000
2.500
01/15/2028
655,000
3.970%
3.970%
100.000
3.000
01/15/2029
675,000
4.120%
4.120%
100.000
3.000
01/15/2030
695,000
4.270%
4.270%
100.000
3.000
01/15/2031
715,000
4.370%
4.370%
100.000
3.000
01/15/2032
745,000
4.400%
4.400%
100.000
3.000
01/15/2033
490,000
4.430%
4.430%
100.000
3.000
01/15/2034
500,000
4.460%
4.460%
100.000
3.000
10,225,000
18,980,000
920,120.90
Dated Date
Delivery Date
First Coupon
Par Amount
Premium
Production
Underwriter's Discount
Purchase Price
Accrued Interest
Net Proceeds
03/01/2017
03/01/2017
07/15/2017
18,980,000.00
920,120.90
19,900,120.90
104.847845%
(54,972.20)
(0.289632%)
19,845,148.70
104.558212%
19,845,148.70
Page 5
Dec 15, 2016 11:04 am Prepared by RBC Capital Markets
BOND SUMMARY STATISTICS
City of Ithaca
Average
Refunding of 2008 Series AB, 2009 and 2010 Series AB
Dated Date
03/01/2017
Delivery Date
03/01/2017
Last Maturity
01/15/2034
Arbitrage Yield
2.221208%
True Interest Cost (TIC)
3.333138%
Net Interest Cost (NIC)
3.463265%
All -In TIC
3.392320%
Average Coupon
4.063584%
Average Life (years)
7.593
Weighted Average Maturity (years)
7.561
Duration of Issue (years)
6.510
Par Amount
18,980,000.00
Bond Proceeds
19,900,120.90
Total Interest
5,856,225.52
Net Interest
4,991,076.82
Total Debt Service
24,836,225.52
Maximum Annual Debt Service
2,366,827.25
Average Annual Debt Service
1,472,018.63
Underwriter's Fees (per $1000)
(54,972.20)
Average Takedown
2.617887
Other Fee
0.278435
Total Underwriter's Discount 2.896322
Bid Price 104.558212
Page 6
Par
Average
Average
Bond Component
Value
Price Coupon
Life
Serial Bonds
8,755,000.00
110.510 4.244%
5.662
Serial Bonds (Federally Taxable)
10,225,000.00
100.000 3.969%
9.246
18,980,000.00
7.593
All -In
Arbitrage
TIC
TIC
Yield
Par Value
18,980,000.00
18,980,000.00
8,755,000.00
+ Accrued Interest
+ Premium (Discount)
920,120.90
920,120.90
920,120.90
Underwriter's Discount
(54,972.20)
(54,972.20)
Cost of Issuance Expense
(75,000.00)
Other Amounts
Target Value
19,845,148.70
19,770,148.70
9,675,120.90
Target Date
03/01/2017
03/01/2017
03/01/2017
Yield
3.333138%
3.392320%
2.221208%
Page 6
Dec 15, 2016 11:04 am Prepared by RBC Capital Markets
BOND DEBT SERVICE
Period
Ending
City of Ithaca
Refunding of 2008 Series AB, 2009 and 2010
Principal Interest Debt Service
Series AB
Bond
Balance
Total
Bond Value
12/31/2017
60,000
267,461.02
327,461.02
18,920,000
18,920,000
12/31/2018
650,000
709,317.00
1,359,317.00
18,270,000
18,270,000
12/31/2019
760,000
691,056.50
1,451,056.50
17,510,000
17,510,000
12/31/2020
1,710,000
656,827.25
2,366,827.25
15,800,000
15,800,000
12/31/2021
1,760,000
601,352.25
2,361,352.25
14,040,000
14,040,000
12/31/2022
1,830,000
536,673.50
2,366,673.50
12,210,000
12,210,000
12/31/2023
1,890,000
467,986.25
2,357,986.25
10,320,000
10,320,000
12/31/2024
1,455,000
405,618.50
1,860,618.50
8,865,000
8,865,000
12/31/2025
1,405,000
351,669.75
1,756,669.75
7,460,000
7,460,000
12/31/2026
1,460,000
292,405.50
1,752,405.50
6,000,000
6,000,000
12/31/2027
1,525,000
225,742.25
1,750,742.25
4,475,000
4,475,000
12/31/2028
655,000
178,520.75
833,520.75
3,820,000
3,820,000
12/31/2029
675,000
151,614.00
826,614.00
3,145,000
3,145,000
12/31/2030
695,000
122,870.75
817,870.75
2,450,000
2,450,000
12/31/2031
715,000
92,409.75
807,409.75
1,735,000
1,735,000
12/31/2032
745,000
60,397.00
805,397.00
990,000
990,000
12/31/2033
490,000
33,153.50
523,153.50
500,000
500,000
12/31/2034
500,000
11,150.00
511,150.00
18,980,000
5,856,225.52
24,836,225.52
Page 7
Dec 15, 2016 11:04 am Prepared by RBC Capital Markets
ESCROW REQUIREMENTS
Page 8
City of Ithaca
Refunding
of 2008 Series AB, 2009 and 2010
Series AB
Period
Principal
Ending
Interest
Redeemed
Total
07/15/2017
329,190.63
329,190.63
08/01/2017
156,286.26
5,740,000.00
5,896,286.26
01/15/2018
329,190.63
555,000.00
884,190.63
07/15/2018
312,896.88
312,896.88
01/15/2019
312,896.88
12,335,000.00
12,647,896.88
1,440,461.28
18,630,000.00
20,070,461.28
Page 8
Dec 15, 2016 11:04 am Prepared by RBC Capital Markets
SLGS Summary
SLGS Rates File
15DEC16
ESCROW DESCRIPTIONS
6,951,796.00
Total Notes
12,806,202.00
Total original SLGS
19,757,998.00
City of Ithaca
Refunding
of 2008 Series AB, 2009 and 2010 Series AB
Type of
Type of
Maturity First Int
Par
Max
Security
SLGS
Date Pmt Date
Amount
Rate
Rate
Mar 1, 2017:
SLGS
Certificate
07/15/2017 07/15/2017
270,090
0.560%
0.560%
SLGS
Certificate
08/01/2017 08/01/2017
5,881,247
0.610%
0.610%
SLGS
Certificate
01/15/2018 01/15/2018
800,459
0.830%
0.830%
SLGS
Note
07/15/2018 07/15/2017
234,990
1.040%
1.040%
SLGS
Note
01/15/2019 07/15/2017
12,571,212
1.220%
1.220%
19,757,998
SLGS Summary
SLGS Rates File
15DEC16
Total Certificates of Indebtedness
6,951,796.00
Total Notes
12,806,202.00
Total original SLGS
19,757,998.00
Page 9
Dec 15, 2016 11:04 am Prepared by RBC Capital Markets
ESCROW SUFFICIENCY
City of Ithaca
Refunding of 2008 Series AB, 2009 and 2010 Series AB
Date
Escrow
Requirement
Net Escrow
Receipts
Excess
Receipts
Excess
Balance
03/01/2017
2.26
2.26
2.26
07/15/2017
329,190.63
329,190.94
0.31
2.57
08/01/2017
5,896,286.26
5,896,285.27
(0.99)
1.58
01/15/2018
884,190.63
884,190.06
(0.57)
1.01
07/15/2018
312,896.88
312,896.35
(0.53)
0.48
01/15/2019
12,647,896.88
12,647,896.40
(0.48)
20,070,461.28
20,070,461.28
0.00
Page 10
Dec 15, 2016 11:04 am Prepared by RBC Capital Markets
ESCROW CASH FLOW
City of Ithaca
Refunding of 2008 Series AB, 2009 and 2010 Series AB
Date
Principal
Interest
Net Escrow
Receipts
07/15/2017
270,090.00
59,100.94
329,190.94
08/01/2017
5,881,247.00
15,038.27
5,896,285.27
01/15/2018
800,459.00
83,731.06
884,190.06
07/15/2018
234,990.00
77,906.35
312,896.35
01/15/2019
12,571,212.00
76,684.40
12,647,896.40
19,757,998.00
312,461.02
20,070,459.02
Escrow Cost Summary
Purchase date 03/01/2017
Purchase cost of securities 19,757,998.00
Page 11
Dec 15, 2016 11:04 am Prepared by RBC Capital Markets
PROOF OF NEW YORK STATE EFFECTIVE INTEREST COST
City of Ithaca
Refunding of 2008 Series AB, 2009 and 2010 Series AB
Effective Interest Cost 3.28996648%
Par 18,980,000.00
Accrued Interest
-OID / +OIP 920,120.90
Proceeds 19,900,120.90
NPV of Debt Service at EIC
Date
Debt Service
to Final
Maturity
Total EIC Debt
Service
PV factor
at EIC of
3.290%
PV of Cashflow
07/15/2017
327,461.02
327,461.02
0.9879271140
323,507.62
01/15/2018
1,008,796.00
1,008,796.00
0.9719388822
980,488.06
07/15/2018
350,521.00
350,521.00
0.9562093979
335,171.47
01/15/2019
1,110,521.00
1,110,521.00
0.9407344735
1,044,705.39
07/15/2019
340,535.50
340,535.50
0.9255099893
315,169.01
01/15/2020
2,050,535.50
2,050,535.50
0.9105318923
1,867,077.97
07/15/2020
316,291.75
316,291.75
0.8957961950
283,332.95
01/15/2021
2,076,291.75
2,076,291.75
0.8812989746
1,829,833.79
07/15/2021
285,060.50
285,060.50
0.8670363716
247,157.82
01/15/2022
2,115,060.50
2,115,060.50
0.8530045891
1,804,156.31
07/15/2022
251,613.00
251,613.00
0.8391998915
211,153.60
01/15/2023
2,141,613.00
2,141,613.00
0.8256186038
1,768,155.54
07/15/2023
216,373.25
216,373.25
0.8122571105
175,750.71
01/15/2024
1,671,373.25
1,671,373.25
0.7991118544
1,335,614.18
07/15/2024
189,245.25
189,245.25
0.7861793361
148,780.71
01/15/2025
1,594,245.25
1,594,245.25
0.7734561127
1,233,078.73
07/15/2025
162,424.50
162,424.50
0.7609387970
123,595.10
01/15/2026
1,622,424.50
1,622,424.50
0.7486240568
1,214,586.01
07/15/2026
129,981.00
129,981.00
0.7365086135
95,732.13
01/15/2027
1,654,981.00
1,654,981.00
0.7245892419
1,199,181.43
07/15/2027
95,761.25
95,761.25
0.7128627689
68,264.63
01/15/2028
750,761.25
750,761.25
0.7013260725
526,528.44
07/15/2028
82,759.50
82,759.50
0.6899760816
57,102.08
01/15/2029
757,759.50
757,759.50
0.6788097746
514,374.56
07/15/2029
68,854.50
68,854.50
0.6678241788
45,982.70
01/15/2030
763,854.50
763,854.50
0.6570163696
501,864.91
07/15/2030
54,016.25
54,016.25
0.6463834699
34,915.21
01/15/2031
769,016.25
769,016.25
0.6359226489
489,034.85
07/15/2031
38,393.50
38,393.50
0.6256311218
24,020.17
01/15/2032
783,393.50
783,393.50
0.6155061488
482,183.52
07/15/2032
22,003.50
22,003.50
0.6055450345
13,324.11
01/15/2033
512,003.50
512,003.50
0.5957451270
305,023.59
07/15/2033
11,150.00
11,150.00
0.5861038174
6,535.06
01/15/2034
511,150.00
511,150.00
0.5766185391
294,738.57
24,836,225.52
24,836,225.52
19,900,120.90
Page 12
Dec 15, 2016 11:04 am Prepared by RBC Capital Markets
PROOF OF ARBITRAGE YIELD
Date
City of Ithaca
Refunding of 2008 Series AB, 2009 and 2010 Series AB
Present Value
to 03/01/2017
Debt Service Total @ 2.2212084507%
07/15/2017
129,756.67
129,756.67
128,694.15
01/15/2018
574,300.00
574,300.00
563,340.83
07/15/2018
168,300.00
168,300.00
163,275.05
01/15/2019
583,300.00
583,300.00
559,668.65
07/15/2019
162,075.00
162,075.00
153,800.71
01/15/2020
1,247,075.00
1,247,075.00
1,170,410.38
07/15/2020
145,800.00
145,800.00
135,333.84
01/15/2021
1,270,800.00
1,270,800.00
1,166,619.91
07/15/2021
123,300.00
123,300.00
111,948.57
01/15/2022
1,303,300.00
1,303,300.00
1,170,316.06
07/15/2022
99,700.00
99,700.00
88,543.61
01/15/2023
1,324,700.00
1,324,700.00
1,163,544.22
07/15/2023
75,200.00
75,200.00
65,326.06
01/15/2024
850,200.00
850,200.00
730,454.29
07/15/2024
59,700.00
59,700.00
50,728.21
01/15/2025
869,700.00
869,700.00
730,883.24
07/15/2025
43,500.00
43,500.00
36,155.23
01/15/2026
893,500.00
893,500.00
734,479.50
07/15/2026
22,250.00
22,250.00
18,089.16
01/15/2027
912,250.00
912,250.00
733,509.23
10,858,706.67
10,858,706.67
9,675,120.90
Proceeds Summary
Delivery date 03/01/2017
Par Value 8,755,000.00
Premium (Discount) 920,120.90
Target for yield calculation 9,675,120.90
Page 13
Dec 15, 2016 11:04 am Prepared by RBC Capital Markets
FORM 8038 STATISTICS
City of Ithaca
Refunding of 2008 Series AB, 2009 and 2010 Series AB
Dated Date 03/01/2017
Delivery Date 03/01/2017
Redemption
Bond Component
Date
Principal
Coupon
Price
Issue Price
at Maturity
Serial Bonds:
Proceeds used to currently refund prior issues
0.00
Proceeds used to advance refund prior issues
9,611,631.05
Remaining weighted average maturity of the bonds to be currently refunded
0.0000
Remaining weighted average maturity of the bonds to be advance refunded
01/15/2018
400,000.00
3.000%
101.705
406,820.00
400,000.00
01/15/2019
415,000.00
3.000%
103.133
428,001.95
415,000.00
01/15/2020
1,085,000.00
3.000%
104.114
1,129,636.90
1,085,000.00
01/15/2021
1,125,000.00
4.000%
108.425
1,219,781.25
1,125,000.00
01/15/2022
1,180,000.00
4.000%
109.531
1,292,465.80
1,180,000.00
01/15/2023
1,225,000.00
4.000%
110.501
1,353,637.25
1,225,000.00
01/15/2024
775,000.00
4.000%
111.083
860,893.25
775,000.00
01/15/2025
810,000.00
4.000%
111.488
903,052.80
810,000.00
01/15/2026
850,000.00
5.000%
119.253
1,013,650.50
850,000.00
01/15/2027
890,000.00
5.000%
119.908
1,067,181.20
890,000.00
8,755,000.00
9,675,120.90
8,755,000.00
Stated
Weighted
Maturity
Interest
Issue
Redemption
Average
Date
Rate
Price
at Maturity
Maturity
Yield
Final Maturity
01/15/2027
5.000%
1,067,181.20
890,000.00
Entire Issue
9,675,120.90
8,755,000.00
5.7802
2.2212%
Proceeds used for accrued interest
0.00
Proceeds used for bond issuance costs (including underwriters' discount)
58,920.83
Proceeds used for credit enhancement
0.00
Proceeds allocated to reasonably required reserve or replacement fund
0.00
Proceeds used to currently refund prior issues
0.00
Proceeds used to advance refund prior issues
9,611,631.05
Remaining weighted average maturity of the bonds to be currently refunded
0.0000
Remaining weighted average maturity of the bonds to be advance refunded
5.8196
Page 14
Dec 15, 2016 11:04 am Prepared by RBC Capital Markets
FORM 8038 STATISTICS
City of Ithaca
Refunding of 2008 Series AB, 2009 and 2010 Series AB
Refunded Bonds
Bond
Component Date Principal Coupon Price Issue Price
2008 Series A:
SERIAL
SERIAL
SERIAL
SERIAL
SERIAL
SERIAL
2010 Series A:
SERIAL
SERIAL
SERIAL
SERIAL
SERIAL
SERIAL
SERIAL
SERIAL
08/01/2018
410,000.00
08/01/2019
430,000.00
08/01/2020
445,000.00
08/01/2021
465,000.00
08/01/2022
485,000.00
08/01/2023
500,000.00
2,735,000.00
01/15/2020
690,000.00
01/15/2021
720,000.00
01/15/2022
755,000.00
01/15/2023
785,000.00
01/15/2024
820,000.00
01/15/2025
855,000.00
01/15/2026
895,000.00
01/15/2027
930,000.00
99.171
6,450,000.00
4.000%
102.121
418,696.10
4.000%
101.129
434,854.70
4.125%
100.934
449,156.30
4.125%
100.185
465,860.25
4.125%
99.736
483,719.60
4.125%
99.171
495,855.00
2,748,141.95
4.000%
101.894
703,068.60
4.000%
101.131
728,143.20
4.000%
100.752
760,677.60
4.000%
100.000
785,000.00
4.000%
98.680
809,176.00
4.000%
97.790
836,104.50
4.250%
100.000
895,000.00
4.500%
101.479
943,754.70
6,460,924.60
9,185,000.00
9,209,066.55
Remaining
Last
Weighted
Call
Issue
Average
Date
Date
Maturity
2008 Series A 08/01/2017
08/07/2008
4.0166
2010 Series A 01/15/2019
01/15/2010
6.5866
All Refunded Issues 01/15/2019
5.8196
Page 15
9.3 A Resolution Authorizing the Issuance of $6,464,450 Bonds of the City of Ithaca,
Tompkins County, New York, to Pay the Cost of Certain Capital Improvements in and for Said
c1tv
WHEREAS, all conditions precedent to the financing of the capital projects hereinafter
described, including compliance with the provisions of the State Environmental Quality Review
Act, have been performed; and
WHEREAS, it is now desired to authorize the financing of such capital projects; now, therefore
be it
RESOLVED, by the affirmative vote of not less than two-thirds of the total voting strength of the
Common Council of the City of Ithaca, Tompkins County, New York, as follows:
Section 1. For the object or purpose of paying the cost of certain capital improvements in
and for the City of Ithaca, Tompkins County, New York, there are hereby authorized to be
issued $6,464,450 bonds of said City pursuant to the provisions of the Local Finance Law,
apportioned among such capital improvements in accordance with the maximum estimated
cost of each. The capital improvements to be financed pursuant to this bond resolution, the
maximum estimated cost of each, the amount of bonds to be authorized therefore, the period
of probable usefulness of each, and whether said capital improvements are each a specific
object or purpose or a class of objects or purposes, including in each case incidental
improvements, equipment, machinery, apparatus, appurtenances, furnishings and expenses in
connection therewith, are as follows:
a) Construction and reconstruction of various streets throughout and in and for said City,
at a maximum estimated cost of $500,000. It is hereby determined that the plan for the
financing of such class of objects or purposes shall consist of the issuance of $500,000 of the
$6,464,450 bonds of said City authorized to be issued pursuant to this bond resolution. It is
hereby determined that the period of probable usefulness of the aforesaid class of objects or
purposes is 15 years, pursuant to subdivision 20(c) of paragraph a of Section 11.00 of the Local
Finance Law;
b) Construction of improvements to various City buildings, in and for said City, at a
maximum estimated cost of $367,000. It is hereby determined that the plan for the financing
of such class of objects or purposes shall consist of the issuance of $367,000 bonds of the
$6,464,450 bonds of said City authorized to be issued pursuant to this bond resolution. It is
hereby determined that the period of probable usefulness of the aforesaid class of objects or
purposes is 15 years, pursuant to subdivision 91, based upon subdivisions 12(a)(1) and 12(a)(2)
of paragraph a of Section 11.00 of the Local Finance Law;
C) Purchase and installation of street lights, in and for said City, at a maximum estimated
cost of $653,000. It is hereby determined that the plan for the financing of such class of objects
or purposes shall consist of the issuance of $653,000 bonds of the $6,464,450 bonds of said City
authorized to be issued pursuant to this bond resolution; provided, however, that to the extent
that any Federal or State grants-in-aid are received for such specific object or purpose, the
ultimate amount of bonds to be issued pursuant to this resolution shall be reduced dollar for
dollar. It is hereby determined that the period of probable usefulness of the aforesaid class of
objects or purposes is 30 years, pursuant to subdivision 5 of paragraph a of Section 11.00 of the
Local Finance Law;
d) Site improvements to the Hangar Theatre Building, in and for said City, including site
demolition, at a maximum estimated cost of $51,000. It is hereby determined that the plan for
the financing of such specific object or purpose shall consist of the issuance of $51,000 bonds of
the $6,464,450 bonds of said City authorized to be issued pursuant to this bond resolution. It is
hereby determined that the period of probable usefulness of the aforesaid specific object or
purpose is 10 years, pursuant to subdivision 20(f) of paragraph a of Section 11.00 of the Local
Finance Law;
e) Planning costs for bridge inspection program, in and for said City, at a maximum
estimated cost of $101,000. It is hereby determined that the plan for the financing of such
specific object or purpose shall consist of the issuance of $101,000 bonds of the $6,464,450
bonds of said City authorized to be issued pursuant to this bond resolution. It is hereby
determined that the period of probable usefulness of the aforesaid specific object or purpose is
5 years, pursuant to subdivision 62(2nd) of paragraph a of Section 11.00 of the Local Finance
Law;
f) Design and scoping costs for the replacement of the Brindley Street Bridge (Phase II), in
and for said City, at a maximum estimated cost of $134,000. It is hereby determined that the
plan for the financing of such specific object or purpose shall consist of the issuance of
$134,000 bonds of the $6,464,450 bonds of said City authorized to be issued pursuant to this
bond resolution; provided, however, that to the extent that any Federal or State grants-in-aid
are received for such specific object or purpose, the ultimate amount of bonds to be issued
pursuant to this resolution shall be reduced dollar for dollar. It is hereby determined that the
period of probable usefulness of the aforesaid specific object or purpose is 5 years, pursuant to
subdivision 62(2nd) of paragraph a of Section 11.00 of the Local Finance Law;
g) Transportation improvements for the Cascadilla Creekway Project, including
replacement of Sears Street Pedestrian Bridge, replacing and enhancing the railing along
Cascadilla Creek, and making pedestrian and bicycle improvements at various City intersections
thereat, in and for said City, at a maximum estimated cost of $340,000. It is hereby determined
that the plan for the financing of such class of objects or purposes shall consist of the issuance
of $340,000 bonds of the $6,464,450 bonds of said City authorized to be issued pursuant to this
bond resolution; provided, however, that to the extent that any Federal or State grants-in-aid
are received for such class of objects or purposes, the ultimate amount of bonds to be issued
pursuant to this resolution shall be reduced dollar for dollar. It is hereby determined that the
period of probable usefulness of the aforesaid class of objects or purposes is 10 years, pursuant
to subdivision 90, based upon subdivisions 10 and 24 of paragraph a of Section 11.00 of the
Local Finance Law;
h) Reconstruction of and construction of improvements to the Dryden Road Parking
Garage, in and for said City, at a maximum estimated cost of $51,000. It is hereby determined
that the plan for the financing of such specific object or purpose shall consist of the issuance of
$51,000 bonds of the $6,464,450 bonds of said City authorized to be issued pursuant to this
bond resolution. It is hereby determined that the period of probable usefulness of the
aforesaid specific object or purpose is 25 years, pursuant to subdivision 12(a)(1) of paragraph a
of Section 11.00 of the Local Finance Law;
i) Design and construction of new traffic control improvements at the five corners
intersection of Ithaca Road, Dryden Road, Maple Avenue, Cornell Street, and Oak Avenue, in
and for said City, at a maximum estimated cost of $76,000. It is hereby determined that the
plan for the financing of such specific object or purpose shall consist of the issuance of $76,000
bonds of the $6,464,450 bonds of said City authorized to be issued pursuant to this bond
resolution. It is hereby determined that the period of probable usefulness of the aforesaid
specific object or purpose is 15 years, pursuant to subdivision 91, based on 20(c) and 72(2nd) of
paragraph a of Section 11.00 of the Local Finance Law;
j) Spencer Street and Quarry Street intersection improvement study (Phase II), in and for
said City, including incidental equipment, at a maximum estimated cost of $150,000. It is
hereby determined that the plan for the financing of such specific object or purpose shall
consist of the issuance of $50,000 bonds of the $6,464,450 bonds of said City authorized to be
issued pursuant to this bond resolution. It is hereby determined that the period of probable
usefulness of the aforesaid specific object or purpose is 5 years, pursuant to subdivision 62(2nd)
of paragraph a of Section 11.00 of the Local Finance Law;
k) Roof replacement of the Stewart Park Pavilion, in and for said City, at a maximum
estimated cost of $181,000. It is hereby determined that the plan for the financing of such
specific object or purpose shall consist of the issuance of $181,000 bonds of the $6,464,450
bonds of said City authorized to be issued pursuant to this bond resolution. It is hereby
determined that the period of probable usefulness of the aforesaid specific object or purpose is
15 years, pursuant to subdivision 19(c) of paragraph a of Section 11.00 of the Local Finance
Law;
1) Traffic calming improvements at various City streets, in and said City, at a maximum
estimated cost of $51,000. It is hereby determined that the plan for the financing of such class
of objects or purposes shall consist of the issuance of $51,000 bonds of the $6,464,450 bonds
of said City authorized to be issued pursuant to this bond resolution. It is hereby determined
that the period of probable usefulness of the aforesaid class of objects or purposes is 10 years,
pursuant to subdivision 90, based upon subdivisions 20(c) and 72(2nd) of paragraph a of
Section 11.00 of the Local Finance Law;
m) Greater Ithaca Activities Center pool improvements, consisting of the construction and
installation of an ADA compliant chair lift and other minor structural improvements, in and for
said City, at a maximum estimated cost of $32,000. It is hereby determined that the plan for
the financing of such specific object or purpose shall consist of the issuance of $32,000 bonds of
the $6,464,450 bonds of said City authorized to be issued pursuant to this bond resolution. It is
hereby determined that the period of probable usefulness of the aforesaid specific object or
purpose is 5 years, pursuant to subdivision 32 of paragraph a of Section 11.00 of the Local
Finance Law;
n) Construction of improvements to the Cass Park Pool deck, in and for said City, at a
maximum estimated cost of $23,500. It is hereby determined that the plan for the financing of
such specific object or purpose shall consist of the issuance of $23,500 bonds of the $6,464,450
bonds of said City authorized to be issued pursuant to this bond resolution. It is hereby
determined that the period of probable usefulness of the aforesaid specific object or purpose is
15 years, pursuant to subdivision 19(c) of paragraph a of Section 11.00 of the Local Finance
Law;
o] Cayuga Street lighting improvements, in and for said City, at a maximum estimated cost
of $126,000. It is hereby determined that the plan for the financing of such specific object or
purpose shall consist of the issuance of $126,000 bonds of the $6,464,450 bonds of said City
authorized to be issued pursuant to this bond resolution. It is hereby determined that the
period of probable usefulness of the aforesaid specific object or purpose is 30 years, pursuant
to subdivision 5 of paragraph a of Section 11.00 of the Local Finance Law;
P) Construction of play area improvements to the Commons, consisting of the removal of
the deck on the play structure, redesign of the entrances on the play structure to allow for
improved ADA compliance and additional activity panels installation, in and for said City, at a
maximum estimated cost of $51,000. It is hereby determined that the plan for the financing of
such specific object or purpose shall consist of the issuance of $51,000 bonds of the $6,464,450
bonds of said City authorized to be issued pursuant to this bond resolution. It is hereby
determined that the period of probable usefulness of the aforesaid specific object or purpose is
15 years, pursuant to subdivision 19(c) of paragraph a of Section 11.00 of the Local Finance
Law;
q) Improvements to the roof of the City Court facility, in and for said City, at a maximum
estimated cost of $30,500. It is hereby determined that the plan for the financing of such
specific object or purpose shall consist of the issuance of $30,500 bonds of the $6,464,450
bonds of said City authorized to be issued pursuant to this bond resolution. It is hereby
determined that the period of probable usefulness of the aforesaid specific object or purpose is
10 years, pursuant to subdivision 90, based upon subdivisions 12(a)(1) and 13 of paragraph a of
Section 11.00 of the Local Finance Law;
r) The purchase, installation and improvement of transit facilities and equipment, for said
City, consisting of bus replacement and passenger facilities, including transit software and
hardware, at a maximum estimated cost of $153,700. It is hereby determined that the plan for
the financing of such class of objects or purposes shall consist of the issuance of $153,700
bonds of the $6,464,450 bonds of said City authorized to be issued pursuant to this bond
resolution. It is hereby determined that the period of probable usefulness of the aforesaid class
of objects or purposes is 5 years, pursuant to subdivision 89, based upon subdivisions 12, 29
and 106 of paragraph a of Section 11.00 of the Local Finance Law;
S) The purchase of equipment for various departments, at an aggregate maximum
estimated cost of $534,440, allocated as follows:
(i) Purchase of equipment for maintenance purposes, each item of which costs $30,000 or
more, for said City, at an aggregate maximum estimated cost of $383,000. It is hereby
determined that the plan for the financing of such class of objects or purposes shall consist of
the issuance of $383,000 bonds of the $6,464,450 bonds of said City authorized to be issued
pursuant to this bond resolution. It is hereby determined that the period of probable
usefulness of the aforesaid class of objects or purposes is 15 years, pursuant to subdivision 28
of paragraph a of Section 11.00 of the Local Finance Law; and
(ii) Purchase of police cars to replace those in service for one year or more, for said City, at
a maximum estimated cost of $201,000. It is hereby determined that the plan for the financing
of such class of objects or purposes shall consist of the issuance of $201,000 bonds of the
$6,464,450 bonds of said City authorized to be issued pursuant to this bond resolution. It is
hereby determined that the period of probable usefulness of the aforesaid class of objects or
purposes is 3 years, pursuant to subdivision 77(1st) of paragraph a of Section 11.00 of the Local
Finance Law
t) Purchase and installation of parking meters and related equipment, in and for said City,
at a maximum estimated cost of $252,000. It is hereby determined that the plan for the
financing of such class of objects or purposes shall consist of the issuance of $252,000 bonds of
the $6,464,450 bonds of said City authorized to be issued pursuant to this bond resolution. It is
hereby determined that the period of probable usefulness of the aforesaid class of objects or
purposes is 5 years, pursuant to subdivision 50 of paragraph a of Section 11.00 of the Local
Finance Law;
U) Replacement of the Coddington Road water tank dome, in and for said City, at a
maximum estimated cost of $599,500. It is hereby determined that the plan for the financing
of such specific object or purpose shall consist of the issuance of $599,500 bonds of the
$6,464,450 bonds of said City authorized to be issued pursuant to this bond resolution. It is
hereby determined that the period of probable usefulness of the aforesaid specific object or
purpose is 40 years, pursuant to subdivision 1 of paragraph a of Section 11.00 of the Local
Finance Law;
V) Replacement of 6 and 12 -inch water mains at the intersection of Ithaca Road, Dryden
Road, Maple Avenue, Cornell Street, and Oak Avenue, in and for said City, at a maximum
estimated cost of $56,100. It is hereby determined that the plan for the financing of such
specific object or purpose shall consist of the issuance of $56,100 bonds of the $6,464,450
bonds of said City authorized to be issued pursuant to this bond resolution. It is hereby
determined that the period of probable usefulness of the aforesaid specific object or purpose is
40 years, pursuant to subdivision 1 of paragraph a of Section 11.00 of the Local Finance Law;
W) Replacement of 6 and 12 -inch sewer mains at the intersection of Ithaca Road, Dryden
Road, Maple Avenue, Cornell Street, and Oak Avenue, in and for said City, at a maximum
estimated cost of $84,150. It is hereby determined that the plan for the financing of such
specific object or purpose shall consist of the issuance of $84,150 bonds of the $6,464,450
bonds of said City authorized to be issued pursuant to this bond resolution. It is hereby
determined that the period of probable usefulness of the aforesaid specific object or purpose is
40 years, pursuant to subdivision 4 of paragraph a of Section 11.00 of the Local Finance Law;
X) Water connection improvements, consisting of improvements to water connections at
the City line on Cliff Street and Trumansburg Road, in and for said City, at a maximum estimated
cost of $80,000. It is hereby determined that the plan for the financing of such specific object
or purpose shall consist of the issuance of $80,000 bonds of the $6,464,450 bonds of said City
authorized to be issued pursuant to this bond resolution. It is hereby determined that the
period of probable usefulness of the aforesaid specific object or purpose is 40 years, pursuant
to subdivision 1 of paragraph a of Section 11.00 of the Local Finance Law;
Y) University Avenue water main replacement, in and for said City, at a maximum
estimated cost of $22,000. It is hereby determined that the plan for the financing of such
specific object or purpose shall consist of the issuance of $22,000 bonds of the $6,464,450
bonds of said City authorized to be issued pursuant to this bond resolution. It is hereby
determined that the period of probable usefulness of the aforesaid specific object or purpose is
40 years, pursuant to subdivision 1 of paragraph a of Section 11.00 of the Local Finance Law;
Z) University Avenue sewer main replacement, in and for said City, at a maximum
estimated cost of $33,000. It is hereby determined that the plan for the financing of such
specific object or purpose shall consist of the issuance of $33,000 bonds of the $6,464,450
bonds of said City authorized to be issued pursuant to this bond resolution. It is hereby
determined that the period of probable usefulness of the aforesaid specific object or purpose is
40 years, pursuant to subdivision 4 of paragraph a of Section 11.00 of the Local Finance Law;
aa) Refurbishment of a fire -fighting heavy rescue vehicle, for said City, at a maximum
estimated cost of $100,000. It is hereby determined that the plan for the financing of such
specific object or purpose shall consist of the issuance of $100,000 bonds of the $6,464,450
bonds of said City authorized to be issued pursuant to this bond resolution. It is hereby
determined that the period of probable usefulness of the aforesaid specific object or purpose is
20 years, pursuant to subdivision 27 of paragraph a of Section 11.00 of the Local Finance Law;
bb) Design and construction of ADA ramps and pedestrian improvements, consisting of curb
bulb -outs, together with equipment, signage and striping for various sites, in and for said City,
at a maximum estimated cost of $250,000. It is hereby determined that the plan for the
financing of such class of objects or purposes shall consist of the issuance of $250,000 bonds of
the $6,464,450 bonds of said City authorized to be issued pursuant to this bond resolution;
provided, however, that to the extent that any Federal or State grants-in-aid are received for
such specific object or purpose, the ultimate amount of bonds to be issued pursuant to this
resolution shall be reduced dollar for dollar. It is hereby determined that the period of
probable usefulness of the aforesaid class of objects or purposes is 10 years, pursuant to
subdivision 24 of paragraph a of Section 11.00 of the Local Finance Law;
cc) Design costs in connection with the construction of the Elmira Road overlay and traffic
signal replacement, in and for said City, at a maximum estimated cost of $210,600. It is hereby
determined that the plan for the financing of such class of objects or purposes shall consist of
the issuance of $210,600 bonds of the $6,464,450 bonds of said City authorized to be issued
pursuant to this bond resolution. It is hereby determined that the period of probable
usefulness of the aforesaid class of objects or purposes is 5 years, pursuant to subdivision
62nd(2nd) of paragraph a of Section 11.00 of the Local Finance Law;
dd) Design costs for the reconstruction of the East State Street/MLK Retaining Wall, in and
for said City, at a maximum estimated cost of $816,400. It is hereby determined that the plan
for the financing of such specific object or purpose shall consist of the issuance of $816,400
bonds of the $6,464,450 bonds of said City authorized to be issued pursuant to this bond
resolution; provided, however, that to the extent that any Federal or State grants-in-aid are
received for such specific object or purpose, the ultimate amount of bonds to be issued
pursuant to this resolution shall be reduced dollar for dollar. It is hereby determined that the
period of probable usefulness of the aforesaid specific object or purpose is 5 years, pursuant to
subdivision 62nd(2nd) of paragraph a of Section 11.00 of the Local Finance Law;
ee) Expansion costs to the Greater Ithaca Activities Center wading pool, in and for said City,
at a maximum estimated cost of $305,000. It is hereby determined that the plan for the
financing of such specific object or purpose shall consist of the issuance of $305,000 bonds of
the $6,464,450 bonds of said City authorized to be issued pursuant to this bond resolution;
provided, however, that to the extent that any Federal or State grants-in-aid are received for
such specific object or purpose, the ultimate amount of bonds to be issued pursuant to this
resolution shall be reduced dollar for dollar. It is hereby determined that the period of
probable usefulness of the aforesaid specific object or purpose is 15 years, pursuant to
subdivision 19(c) of paragraph a of Section 11.00 of the Local Finance Law;
Section 2. The aggregate maximum estimated cost of the aforesaid objects or purposes is
$6,464,450, and the plan for the financing thereof is by the issuance of the $6,464,450 serial
bonds authorized by Section 1 hereof, allocated to each of the objects or purposes in
accordance with the maximum estimated cost of each stated in Section 1 hereof.
Section 3. The faith and credit of said City of Ithaca, Tompkins County, New York, are
hereby irrevocably pledged for the payment of the principal of and interest on such obligations
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 obligations becoming due and
payable in such year. There shall annually be levied on all the taxable real property of said City,
a tax sufficient to pay the principal of and interest on such obligations as the same become due
and payable.
Section 4. Subject to the provisions of the Local Finance Law, the power to authorize the
issuance of and to sell bond anticipation notes in anticipation of the issuance and sale of the
bonds herein authorized, including renewals of such notes, is hereby delegated to the City
Controller, the chief fiscal officer. Such notes shall be of such terms, form and contents, and
shall be sold in such manner, as may be prescribed by said City Controller, consistent with the
provisions of the Local Finance Law.
Section 5. All other matters, except as provided herein relating to such bonds, including
determining whether to issue such bonds having substantially level or declining debt service
and all matters related thereto, prescribing whether manual or facsimile signatures shall appear
on said bonds, prescribing the method for the recording of ownership of said bonds, appointing
the fiscal agent or agents for said bonds, providing for the printing and delivery of said bonds
(and if said bonds are to be executed in the name of the City by the facsimile signature of the
City Controller, providing for the manual countersignature of a fiscal agent or of a designated
official of the City), the date, denominations, maturities and interest payment dates, place or
places of payment, and also including the consolidation with other issues, shall be determined
by the City Controller. It is hereby determined that it is to the financial advantage of the City
not to impose and collect from registered owners of such serial 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. Such bonds shall contain substantially 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 52.00 of the Local Finance Law, as
the City Controller shall determine.
Section 6. The powers and duties of advertising such bonds for sale, conducting the sale
and awarding the bonds, are hereby delegated to the City Controller, who shall advertise such
bonds for sale, conduct the sale, and award the bonds in such manner as he shall deem best for
the interests of the City; provided, however, that in the exercise of these delegated powers, he
shall comply fully with the provisions of the Local Finance Law and any order or rule of the State
Treasurer applicable to the sale of municipal bonds. The receipt of the City Controller shall be a
full acquittance to the purchaser of such bonds, who shall not be obliged to see to the
application of the purchase money.
Section 7. The validity of such bonds and bond anticipation notes 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 8. This resolution shall constitute a statement of official intent for purposes of
Treasury Regulations Section 1.150-2. Other than as specified in this resolution, no monies are,
or are reasonably expected to be, reserved, allocated on a long term basis, or otherwise set
aside with respect to the permanent funding of the object or purpose described herein.
Section 9. This resolution, which takes effect immediately, shall be published in summary
form in the Ithaca Journal, the official newspaper, together with a notice of the City Clerk in
substantially the form provided in Section 81.00 of the Local Finance Law.
9.4 A Resolution Authorizing the Issuance of an Additional $950,000 Bonds of the City of
Ithaca, Tompkins County, New York, to Pay Part of the Cost of the Stewart Avenue Bridge
Painting and Reconstruction Project, in and for Said City
WHEREAS, all conditions precedent to the financing of the capital project hereinafter described,
including compliance with the provisions of the State Environmental Quality Review Act, have
been performed; and
WHEREAS, it is now desired to authorize additional bonds for the financing thereof, now,
therefore be it
RESOLVED, by the affirmative vote of not less than two-thirds of the total voting strength of the
Common Council of the City of Ithaca, Tompkins County, New York, as follows:
Section 1. For the specific object or purpose of paying part of the cost of painting of the
Stewart Avenue Bridge over Cascadilla Creek, in and for the City of Ithaca, Tompkins County,
New York, including incidental railing and deck reconstruction, there are hereby authorized to
be issued an additional $950,000 bonds pursuant to the provisions of the Local Finance Law.
Said specific object or purpose is hereby authorized at the new maximum estimated cost of
$1,030,000.
Section 2. The plan for the financing of such $1,030,000 maximum estimated cost is as
follows:
a) By the issuance of the $80,000 bonds of said City heretofore authorized to be issued
therefor pursuant to a bond resolution dated July 15, 2015; and
b) By the issuance of the additional $950,000 bonds of said City herein authorized;
provided, however, that the amount of obligations ultimately to be issued will be reduced by
any State and/or Federal grants-in-aid to be received by said City for said purpose.
Section 3. It is hereby determined that the period of probable usefulness of the aforesaid
specific object or purpose is 10 years, pursuant to subdivision 10 of paragraph a of Section
11.00 of the Local Finance Law, computed from July 31, 2015, the date of the first bond
anticipation note issued therefor.
Section 4. The faith and credit of said City of Ithaca, Tompkins County, New York, are
hereby irrevocably pledged for the payment of the principal of and interest on such obligations
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 obligations becoming due and
payable in such year. There shall annually be levied on all the taxable real property of said City,
a tax sufficient to pay the principal of and interest on such obligations as the same become due
and payable.
Section 5. Subject to the provisions of the Local Finance Law, the power to authorize the issuance
of and to sell bond anticipation notes in anticipation of the issuance and sale of the bonds herein
authorized, including renewals of such notes, is hereby delegated to the City Controller, the chief fiscal
officer. Such notes shall be of such terms, form and contents, and shall be sold in such manner, as may
be prescribed by said City Controller, consistent with the provisions of the Local Finance Law.
Section 6. Such bonds shall be in fully registered form and shall be signed in the name of the City
of Ithaca, Tompkins County, New York, by the manual or facsimile signature of the City Controller and a
facsimile of its corporate seal shall be imprinted or impressed thereon and may be attested by the
manual or facsimile signature of the City Clerk.
Section 7. All other matters, except as provided herein relating to such bonds, including
determining whether to issue such bonds having substantially level or declining debt service and all
matters related thereto, prescribing whether manual or facsimile signatures shall appear on said bonds,
prescribing the method for the recording of ownership of said bonds, appointing the fiscal agent or
agents for said bonds, providing for the printing and delivery of said bonds (and if said bonds are to be
executed in the name of the City by the facsimile signature of the City Controller, providing for the
manual countersignature of a fiscal agent or of a designated official of the City), the date,
denominations, maturities and interest payment dates, place or places of payment, and also including
the consolidation with other issues, shall be determined by the City Controller. It is hereby determined
that it is to the financial advantage of the City not to impose and collect from registered owners of such
serial 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. Such bonds shall contain substantially 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 52.00 of the Local Finance Law, as the
City Controller shall determine.
Section 8. The validity of such bonds and bond anticipation notes 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 9. This resolution shall constitute a statement of official intent for purposes of Treasury
Regulations Section 1.150-2. Other than as specified in this resolution, no monies are, or are reasonably
expected to be, reserved, allocated on a long term basis, or otherwise set aside with respect to the
permanent funding of the object or purpose described herein.
Section 10. This resolution, which takes effect immediately, shall be published in summary form in
the official newspaper, together with a notice of the City Clerk in substantially the form provided in
Section 81.00 of the Local Finance Law.
Bond Resolution
BACK-UP ITEMS 9.3 AND 9.4
CITY OF ITHACA
108 East Green Street, Ithaca, New York 14850-5690
Office of City Controller
Telephone: 6071274-6576 Fax: 607 1 274-6415
City of Ithaca
Bond Resolution Information
CA Meeting 12/21/16
The City normally borrows funds twice a year, January or February and then again in August.
To borrow funds Council must first authorize the issuance of the bonds.
This request is to approve the authorization of Capital Projects approved by Council since our last authorization
in July 2016. The projects needed for authorization include projects approved as part of the 2017 Budget and
any Council authorized projects from August. All projects are issued on a cash flow need basis, meaning
that enough funds will be issued to cover costs over the next six months as cash is needed.
Attached you will find the projects needed for authorization in the amount of $7,414,450. My concerns for a
HEAVY City debt load continue and we need to find ways to reduce the high amount of debt we have.
Going forward the high annual debt costs will restrict use of city funds for other uses. We are required to pay
our debt first. Our current debt outstanding including this issue is $131,843,652. While, $62,957,039 of our
outstanding debt is related to water, sewer, storm water, installment debt, ILIRA or wastewater and is exempt
from the debt limit, we still have a significant amount of outstanding debt, $68,886,613. In addition, some or our
debt will be reimbursed from Federal and State aid.
We have not received the resolutions from the bonding atttorney, but we will send them out as soon as they
are received. A two-thirds vote of the entire voting strength of CC is needed for approval in January.
In some cases, we will borrow an amount greater than what is needed due to the fact we have to upfront the
costs. Several of the projects will have future reimbursements from State, Federal or other funding
sources that will be used to pay down on the issuance of BANS needed upfront. The largest project in this
authorization is for the Stewart Ave Bridge Painting project at $950,000. Also included, is the East State St/
MILK Retaining Wall project for $816,400.
The total issuance for January 2017 will be $8,493,750 plus renewal of the BANS coming due.
Of the new money, $5,539,000 is General Fund bonds. The other $2,757,600 is for water and sewer activity
bonds. The largest amount relates to the Water Treatment Plant project for $2,000,000. This will be the last
issue for that project as it will be completed in mid -2017.
Interest rates are starting to inch up since our last issue in August. Our rate in August was .84%.
The market is currently in a somewhat volatile condition, and the economy remains uncertain at this time. We
expect to borrow these funds through Bond Anticipation Notes at interest rates between .70% and 1.50%.
The investment rate is lower and is currently around .13%. Rates are changing daily. We will continue to look
at the possibility of going long-term with some of our debt as long-term rates are still favorable at this time,
around the 3.909/6 mark. Issuing funds now will allow us to take advantage of the historically low interest rates.
Because of the large amount of this issuance we need to be even more stringent on the future funding of projects.
We will have to be re -rated as part of our issuance and there is always a possibility of a lower rating which
would increase our interest rates for the future.
"An Equal Opportunity Employer with a commitment to workforce diversification."
City of Ithaca
Summary of Bond Authorizations
2017 issue
12!21!2016
New issues: 2017
Council
Authorization Project_ _
Date a Description
1112/2016 Capital Projects Authorized with 2017 Budget General Fund
11 i2,12016. 835 2017 DPW Street and Road Construction
To fund construction of various streets in the City during 2017 New money New project
11/272016 836 City Facilities Improvements
To fund various building improvements to City facilities /hat may come up in 2017. New money. New project
_ The improvements will generally be of a short-term repair or improvement nature to City buildings that in the long may be
consolidated or moved.
1112/2016_ 837 Street Light Acquisjtion and Uuprade
To fund the purchase of City Street lights from NYSEG and allow for and updrade in lighting to LED Payback expected to be
short as we will see savings from NYSEG Street Light lease and electricity savings. New money. New project. Funds may
also require street Lighting equipment purchase The City has approximately 1800 Street Lights. Grant funds may be available
to Dffsett some of the cost
11/212016 754 Hangar Theatre Building Site t_mproyements
To fund new construction site costs to city owned building. Costs to include site demolition, builchma improvements_
parking lot improvements and storm drainage improvements Amended project. Previously total authorization was $300,0D0,
New money. Amended Project
1172I2016 838 Bridge Inspection Program
To fund a preventative Bridge Inspection program for City Bridges It is expected that a consultant would be hired to inventory
and inspect various City Bridges New money New project
1112/2016, 764 Brindley Street Bridge Replacement
To amend funding of the design for the replacement of the one -lane Brindley Street Bridge_ The reconstruction of the bridge
will rel current bridge with a IwoAane bridge These funds will be expended on scopine and
design Full construct on will lake place in 2018 Possible Federal and State funding up to 85%.
New money and amended project. The original authorization was in the 2011 Budget for $205,000. This will give a total
Authonzat of $339,000
i i 1
11/212016 802 Transportation Alternatives Pro pram 1Cascadilta Creel _
121712016 To fund transportation improvements in the City including replacing the Sears Street Pedestrian Bridge. replacing and
enhancing the railing along Cascadilla Creek and making pedestrian and bicycle improvements at various city intersections-
The original project was authorized in the amount of $750,000- This will amend the project by $340,000 for a new
authorization of $1,090,000- We previously issued $150,000 on 7/31115- This is an upfront costs with Federal and State
reimbursement of $850,000 Final City costs to be $240.000-
11020.16 8391Dryden RoadlPar iinaGarage Improvements
To fund improvements to the Dryden Road Parking Garage. Improvements will include design staircases, structural slaps,
post tesion_ed tendons,, deck coatings, storm drains and standpipes. This will be a 3 year phased project. New money. New
project
i
111212016, 840 Five Corners Intersection Traffic Control Improvements
To fund the design and construction of new traffic control at the five corners intersection of fthaca Road, Dryden Road. Maple
Ave, Cornell Street and Oak Ave. During the design, a decision will be made to either replace the existinic traffic signal or
construct a roundabout New money New Project
797.Spencer Street/Quarry Street Intersection Improvement Study
To fund a study to make improvements at the imtersecWn of Spencer Street and Quant' Street in the City. This will amend
the original project of $41,000 by $150,000 for a lata! authorization of $191,000. We will also be receiving Cl funds acid
sidewalk funds to add to the authorization. Construriion w_ ill include sidewalks. curbing and some street improvements.
The last issue was 206114 for $41,000.
City of Ithaca Page 2
Bond Resolution Amount Status
$ 500,000 ssue
S
500,0001
$ 367,000 issue
$
367,000
$ 653,000 issue
S
653,000
S
51,000 issue
$
51,000
5
101,000 Issue
I
S
i
101,000
S
134,000 ssue
i$
134,000
340,000 issue
$ 550,000 1
51,0001 Tissue $ 51,0001
76,000 issue $ 76,000 1
$ 150,000 issue $ 150,0001
New Issues:
Ccuncfl
Aulhori7ation
cLate
71/21201 G
121712016
1102016
1112!2010 Iii
1 f1212D16
1 1!2!2016
11i212016
1112!2016
1112/2016
1102416
11/212016
City of Ithaca
Summary of Bond Authorizations
2017 issue
1 212 1 120 1 6
2017
Project
Description
818 Stewart Avenue Bridge.Painting
To amend the bridge painting for the Stewart Avenue Bridge over Cascadiva Creek in the City The project would be funded
upfront with City funds with rater repayment by federallstate aid of $952.850 Total City funding is $77,150. Amend project
New money. Original authorization was $80,000, the new authorization is $1,030,000 Issued $50,000 on 7131115 The
project will include painting, railing work and some deck repairs.
800 ii Stewart Park Pavilion. Roof_Replacemenls
This will fund the stewart park maintenance building roof. This amends the project by $181,000 to a total authorizati_on_of
$436,000. This is new money The original project was issued on 2119114 for $255.000
F —
841 Traffic Calming
To fund traffic calming on various City streets. These funds wiii be used to construct various types of traffic calming measures
in the City including bulb outs, speed bumps and speed signs, New project and money
755 GIAC Pool ImproVe_ments
_ This would fund the construchon and installation of an ADA compliant chair lift and some other minor structural improvements
to the GIAC Pool This will amend a project established in 2010 and 2014 for $96 500 New money and amended project
814_Cass Park Pool Pool Peck Improve-ments
To amend the current project to include pool deck repairs to the Cass Pool. The improvements will be to replace the current
failing corcrele back system New money and amended project The original project was issue on 2119115 for $85,_200. The
new authonzed amount will be $108.700.
842 CaLugaStreet Li�hting_ImprOvments _
To install improved street lighting and improve pedestrian access by removing concrete planters en Cayuga Street in the
City of Ithaca, Current lighting is not functional and unsafe. The concrete planters will be removed to improve pedestrian
movement on Cayuga Street New money and project I
i i
724 Commons Improvements
To amend the project to include removal of the deck on the play structure, redesign the entrances on the play structure to
_ allow for improved ADA compliance for the structure The project will also include added activity panels for Wheelchair
__access New money and amended project. This would in -crease_ the current authorization by $51.000 to $13,901.0__0.0, The
last issue was 81104 in the amount of $4,000,000.
843 City Court fiacifity Roof Top Unit and Roof Improveme_ nts
Te fund the replacement of the City Court roof top unit heat exchanger and improve the Court roof due to failing flashing
New money and project We may receive 251k state aid for this project from NYS Court aid
753_ _Ira_ nsit Imp_ rovements _
To fund transit improvements such as bus replacement passenger facilities and transit software and hardware. This is new
maney, but will amend the current transit project by $153,7D0.
Bond Resolution Amount_ Status Amo_u_n_t to issue
$ 950,000 partial issue $ 550,000
84. 5,2017 Equipment Ac- uisitions
issue
_ $
To fund 2017 egmpmeTlt acquisitions for various department including the following
i
51,000
1 Ton Dump Truck - Parks
$
55,500.00
_
Utility Vehicle - Electricians
$
45,500.00
Lift Gate - Sign shop
$
35,200.00
Pick Up - Parks
584,000
$
30,200.00 I
Backhoe - Highway
252,000
$
111,000,00
Liftgate - Garage
$
35,200.00
Tee Mower - Golf Course
$
35,200-00
Self Propelled Sprayer - Golf Course
$
35,200.00
Police Department Patrol Vehicles/Equipment
$
201,000.00
777
City of Ithaca Page 3
181,000
issue
$
181,000
i
51,000
issue
$
51,000
32,000
issue
$
32,000
23,500
issue
S
23,500
126,000 Issue $ 126,000
51,000
issue
$
51,1
30,500
issue
$
30,500
153,700
partial issue
$
50,000
584,000
issue
S
584,000
252,000
issue
$
252,000
City of Ithaca
Summary of Bond Authorizations
2017 issue
12!2112016
New Issues:
2017
Council
Authorization
Project'
Date_
_ .f! Descri tion
Bond Resolution Amount) ,status Amount to issue
To acquire additronal pay stations, parking equipment and/or electronic meter heads Io replace or supplement
City parking garages equipmentlmeters. Revenue increase will produce a short payback of the cost New money
- -
and amended project Last issued $407.000 on 2119116. Total authorization $1,111,000
11f2120i5'
532 Cuddington Road Water Tank DomeReplacement
$ 599,500 - issue S 599,5(10
To fund the replacement of the dome on the Coddington Road Tank in the City. New money and new project. Includes dome
replacementnew hatch, ventilator and interior elastomeric coaling
11!212018
533 Five Corners Intersection Improvements Water R, ¢placement
S 56,100 issue $ 56,100
To fund the replacement of 6 and 12 -inch water main during Improvement to the five corner traffic control improvement project
at the intersection of Ithaca Road, Dryden Road, Maple Ave, Cornell Street and Oak Ave New money aryl project
11!212016
632 Five Corners Intersection Improvements Sewer Replacement
$ 84,150 issue 5 84,150
- To fund the replacement of 6 and 12 -inch sewer main during improvement to the five earner traffic control improvement project
at the intersection of Ithaca Road, Dryden Road, Maple Ave, Cornell Street and Oak Ave New money and project
11,'2120_1.6-
535 TrumansburglCitV Water Connection Improvements
E 8Q,000 - ssue 5 80,000
To fund the improvments to water connections at the City line on Cliff Street and Tr imansburg Road This work will be done
in conjunchon with the Town of Ithaca. This will change the connection point with the Town's water main New money and
and project
1112_12616
536 University Ave Water Main Replacement
E 22,000 issue S 22,000
- To fund the replacement of water mains on Lfniversity Ave in the City. New money and project
1 112!2016
633 University Ave Sewer Main Replacement
E 33,000 issue S 33,0(10
To fund the replacement of sewer mains on University Ave in the City New money and project
P1512016
821 Fire -Heavy Rescue AcpuisitionfRefurbishment
$ 100.000 issue $ 100.000
_
To fund the refurbishment of the body of a 1999 frock and to replace the chassis. New money Amended project
- -
The refurbishment will recycle/recondition the existing body and install a new chassis and motor The cost increased and
this will amend the project by $100,040 to a total authorization of $555,000 Last issue was 2119116 for $455,000
8!312.016
831 ADA Ramps and Pedestrian Enhancements City Streets
$ 250.000 partial issue $ 10.0.00.0
To fund the design and construction of American with Disabilities (ADA) ramps and pedestrian improvements including
curb bulbouls. equipment. signage and striping for various sites in the City. The funds wi0 be 100'7, reimbursed by NYS aid
Total city cost will be $0 We have to upfront the expense New project and money
91712016
532 Elmira Road Overlay and Traffic 5ional_Replacement
$ 210,600 partial issue $ 50,000
To fund the design costs for the Elmira Read overlay and Traffic signal replacement of two signals The two traffic signai
replacernents are at the intersection of Commercial Ave and Spencer street on Elmira Road We will upfront the cost and be
_
reimbursed 88% of the cost The city's share will be $24,420. New project and money
9+7!2016
833 East State Street1MLK Retaininn Wall Reconstruction
$ 816.400 partial $ 300,000
To fund the design costs for the reconstruction of the East State StreellMLK Retaining Wall The wall is 100 years old and
-
300 feet long and varying in height from 8 feel to 20 feet. The wall appears to be in serious deterioration. The project could be
costly depending on the reconstruction need The city will need to upfront the cost with later reimbursement of 95% from
federal grid state funding The city cost will be 5% of the total project New project and money
917/2016
834 GIAC Wading Pool_E_xpansion
-
To fund the casts to expand the Greater Ithaca Activities Cenler {GIAC) wading pool expansion. These funds will be for design
$ 305.000 ,partial issue $ 175,000
and construction We have to upfront the costs with later reimbursement of $280,000 from C0BG funds and private donations
The City cost will be $25.000 New money and project.
1114!2016
822 Fire -East Hill Fire Station Design
$ partial issue $ 150,000
City of Ithaca Paige 4
City of Ithaca
Summary of fiend Authorizations
2017 issue
1 212 1 12 01 6
New Issues:
2017
Council
Authorization
Protect
l
Datel
#.,Description
Bond Resolution_ Amount:
j Status
Amount to. issue
1'o fund the design study to determine new sites and construction of new Fire Station in the City/Town This would fund
design of a new Fire Station and the sale of existing the Fire Station on East Hill. _Previously authorized. NYS funds are
_
available for the relocation of the Fire Station. Will also include looking at improvements to Central and East Hili Stations.
Will also look at other city facibles in relation to the Fre Station to determine if consolidation and improvements are needed
Last issued $30,600 on 7126116 Total issued to -date is $80,600
11512000_
510 Water Treatment Plant Imp rov_amentslRenlacement
$
-
partial issue $
2,000,000
402013
Project was established to improve or replace the current Crty Water Treatment Plant.
_
514!2016
This protect was only a portion of the costs of full construction of new plant or hooking
up to the exrsting Town of Ithaca Water Treatment Plant $33,300,000 has been issued
to date Orrick file 43119-2-2 n) (2-13). This protect was originally authorized at $6,000,000 Costs will
include Studies, planning, design and construction. The decision for the City water source has
now been made to rebuild our own Water Treatment Plant. Last issue was 2119115. The project was
l amended on 5!4!16 by $1,200,000 for a total authorization of $37,900,000. The plant construction is expected
_
to be complete by the mid -2017 The city does have some capital reserves in place to help offset a portion
1
of the construction costs The project will be bid in stages with several portions already bid.
Totals
$ 7,434,450
$
8,41V50
General Fund_
$
6,_5_39,700
$
5,539,000
Solid Waste
$
-
$
Water
I $
757,600
$
2,757,600
Waste Water plant
$
-
f $
-
Sewer
$-
117,150
$_
_ 117,150
$
7,414,450
$
8413750
City of Ithaca Page 5
9.5 Approval of Amendment to the City of Ithaca Anti -Discrimination and Anti -
Harassment Policy- Resolution
WHEREAS, Common Council adopted an Anti -Discrimination and Anti -Harassment Policy in
2011, which identified protected classes as were listed in the City of Ithaca Human Rights
Protection law; and
WHEREAS, in 2003 Common Council included the protection oftransgender persons by
modifying the definition of Gender in its Human Rights Protection law; and
WHEREAS, Common Council desires to use inclusive and consistent language throughout the
City's policies and code; and
WHEREAS, Common Council wishes to revise the Anti -Discrimination and Anti -Harassment
Policy to add "Gender Identity or Expression" specifically as a listed protected class; and
WHEREAS, several other changes are needed to the Anti -Discrimination and Anti -Harassment
Policy, including the addition of the word "Sex," to make the language consistent with other
language in the City Code; now, therefore be it
RESOLVED, That Common Council hereby amends the City of Ithaca Anti -Discrimination and
Anti -Harassment Policy to include "Gender Identity or Expression" and "Sex" and to make other
changes needed to make the language consistent with language in the City Code.
I:TIT01 ROJ a 111:1 LVA & I
City of Ithaca
Anti -Discrimination and Anti -Harassment Policy
Statement of Policy
The City of Ithaca is committed to maintaining a work environment in which all individuals are
treated with respect and dignity. Each individual has the right to work in a professional
atmosphere that promotes equal employment opportunities and prohibits discriminatory
practices, including harassment and hostile behaviors. Therefore, the Mayor and Common
Council expect that all relationships and interactions among persons in the City work
environment will be professional; respectful; and free from bias, prejudice, hostility, and
harassment.
The State of New York and the City of Ithaca prohibit discrimination based on the actual or
perceived age; creed; color; disability; domestic violence victim status; ethnicity; familial status;
gender; gender identity or expression; height; weight; immigration or citizenship status;
marital status; military status; national origin; predisposing genetic characteristics; race;
religion; sex; sexual orientation; eF socioeconomic status; or weight of an individual. All such
discrimination is unlawful and will not be tolerated. Additionally, the City does not allow bias -
based harassment, or harassment of any other kind, in its workplace. The City of Ithaca is
committed to taking all reasonable steps to prevent discrimination and harassment from
occurring in its workplace.
Definitions
Discrimination: Treating an individual differently because of the individual's membership in the
above mentioned categories. Discrimination based on membership in these categories (other
than providing reasonable accommodation for differently-abled persons) is prohibited by
federal, state, or local laws.
Harassment: Unwanted, unreasonable verbal or physical conduct directed toward or affecting
another person that annoys, disturbs, frightens, insults or offends that other person, that
continues or is repeated after a request to cease, and that: 1) has the purpose or effect of
creating an intimidating, hostile, or offensive work environment; 2] has the purpose or effect of
unreasonably interfering with an individual's work performance; or 3] otherwise adversely
affects an individual's employment opportunities. Harassment includes bias -based harassment
and sexual harassment.
Bias -Based Harassment: Harassment that denigrates, offends or shows hostility or aversion
toward an individual because of his/her actual or perceived age; creed; color; disability;
domestic violence victim status; ethnicity; familial status; gender; gender identity or
expression; height; weight; immigration or citizenship status; marital status; military status;
national origin; predisposing genetic characteristics; race; religion; sex; sexual orientation; of
socioeconomic status; or weight or that of his/her relatives, friends, or associates. Bias -based
harassment includes, but is not limited to: epithets, slurs or negative stereotyping; threatening,
intimidating, or hostile acts; denigrating jokes; and written or graphic material that denigrates,
ridicules, objectifies, or shows hostility, aversion or contempt toward an individual or group and
that is placed on walls, bulletin boards, lockers or elsewhere on or in the employer's premises,
vehicles, or equipment, or is circulated in the workplace, including through electronic means.
Scope of Polio
This policy applies to all City officers and employees. This policy applies to all aspects of the
relationship between the City and its employees, including but not limited to: recruitment,
employment, promotion, training, working conditions, and benefits. Also, employees of the City
shall not discriminate against independent contractors, volunteers, personnel employed by
temporary agencies, applicants, customers, the general public, and any other persons or
agencies doing business for or with the City. It is the expectation that independent contractors
shall not discriminate against City employees. If any contractor violates this policy, appropriate
action will betaken.
Department heads and supervisory personnel are responsible for ensuring a work environment
free from unlawful discrimination or harassment. These individuals must take immediate and,
if authorized, appropriate corrective action when allegations of discrimination or harassment
come to their attention to assure compliance with this policy. Should a department head or
supervisor not be authorized to take corrective action, the matter shall be referred to the
individual or body, as the case may be, having the authority to take corrective action.
Reporting and Investigating
Any City officer or employee who witnesses or experiences an incident of suspected
discrimination or harassment shall report the incident to the appropriate department head or
to the Human Resources Director, or their designees, as soon as possible after an alleged
incident.
Complaint Procedure
Informal Procedure
Some situations may be resolved in an informal manner by the Department Head
or supervisor without the need for a formal complaint and investigation.
Disciplinary action may not be imposed without a formal complaint being filed,
and a finding, after investigation, that there is probable cause to believe
discrimination or harassment occurred.
An individual reporting harassment, discrimination, or retaliation should be
aware; however, that the City of Ithaca may decide it is necessary to take action
to address such conduct beyond an informal discussion. This decision will be
discussed with the individual making the complaint.
Formal Procedure
A formal complaint must be in writing and must include the act(s), complained
about, identify the person or persons alleged to have committed such act(s), and
indicate the approximate dates, if known, when the act(s) occurred. Employees
and officers can fill out the form themselves, or ask for help from their
supervisor, Department Head, or the Human Resources Director. A formal
complaint shall be filed with the Department of Human Resources.
Investigation Procedure
Once a formal complaint has been received, the Human Resources Director or the Director's
designee will commence a prompt investigation of the allegations in the complaint and will
report the results of the investigation to the complainant's Department Head or to the Mayor,
as appropriate. The investigation should be concluded within sixty (60) days of the filing of the
formal complaint. The investigation may be expanded if additional allegations are uncovered
during the investigation.
The investigation may include but is not limited to: identifying the alleged harasser, separately
interviewing witnesses, meeting with the person accused to inform her/him of the complaint
and informing her/him that retaliation is prohibited, interviewing the accused person regarding
the allegations, interviewing witnesses, and determining whether or not there is probable
cause to believe that the allegations are true.
Prompt reporting of a complaint is strongly encouraged as it allows for rapid response to and
resolution of objectionable behavior. Complaints should be filed within one year of the alleged
harassment.
Post -Investigation and Appeal Procedure
Unfounded Complaints
If, after an investigation, a complaint is determined to be unfounded, the Human
Resources Director will inform the complainant(s) and the accused that the
complaint is unfounded. The Human Resources Department will maintain a
confidential record of the investigation.
Founded Complaints
If a complaint is founded, the Human Resources Director and the Department
Head or Mayor will meet with the person accused and his/her union
representative, if the accused is represented, and explain the findings of the
investigation. The accused will have an opportunity to accept the findings and
any corrective and/or disciplinary action, or to oppose the findings and file a
grievance through his/her collective bargaining unit. The Human Resources
Department will maintain a confidential record of the investigation.
In the event that either the employee alleging discrimination or harassment, or
the employee being charged with discrimination or harassment, is not covered
by a labor contract, the employee may exercise the employee's appeal rights
provided for by Civil Service Law, Section C-26.1 of the City Charter, or Article 1
of Chapter 90 of the Code of the City of Ithaca, as appropriate.
Corrective and Disciplinary Action
Corrective and disciplinary action for discrimination or harassment may include,
but is not limited to, any of the following: attending individualized training;
verbal warning; written reprimand; work restrictions; monetary fine; salary
reduction or limitation; demotion; suspension; dismissal.
Confidentiality
The City wishes to create a safe and comfortable environment in which employees are not
afraid to discuss concerns and complaints, or to seek general information about discrimination,
harassment, or retaliation. The City recognizes that employees may be concerned about the
confidentiality of information they share and will strive to preserve confidentiality to the fullest
extent possible.
Employees must understand that their anonymity cannot always be maintained, especially if
disciplinary action is warranted.
Filing Complaints with Outside Agents
This internal complaint and investigation process does not substitute for or remove the rights of
employees or officers to bring charges of discrimination or harassment with local, federal, and
state agencies. Those agencies have specific time limits within which complaints can be
brought, and employees or officers should consult each agency as to the proper procedure or
time limit.
Support Services
Individuals involved in discrimination or harassment complaints are encouraged to seek
assistance through the Employee Assistance Program or the Human Resources Department.
Responsibilities of Managers and Supervisors
All managerial and supervisory staff of the City of Ithaca shall be responsible for enforcing this
policy and shall have particular responsibility for ensuring that the work environment under
their supervision is free from harassment and discrimination and its effects.
All managerial and supervisory staff who receives harassment or discrimination complaints will
be responsible for immediately forwarding such complaints to either their Department Head or
the Director of Human Resources for investigation.
The City shall conduct training for managerial and supervisory staff in each department on the
issues surrounding harassment and discrimination, its effects and its appearances, and the role
and responsibility of supervisory personnel in preventing incidents of harassment or
discrimination and resolving complaints.
The City shall also distribute this policy to all City employees and conspicuously post this policy
at all City work sites. Copies of this policy will also be distributed to new employees as they are
hired. Employees will be required to sign a statement that they have read and understood the
policy. The City shall also conduct training for all City employees on the concept and definition
of harassment and discrimination, the issues surrounding it, and ways in which to deal with it
appropriately.
Violation of Policy
Violations of this policy, regardless of whether or not an actual law has been violated, will not
be tolerated. The City of Ithaca will investigate every issue that is brought to its attention in
this area and will take appropriate action.
Retaliation
Retaliation against an individual for reporting harassment or discrimination or for participating
in an investigation of a claim of harassment or discrimination is a serious violation of this policy
and, like harassment or discrimination itself, will be subject to disciplinary action. Acts of
retaliation should be reported immediately to the Human Resources Director and will be
promptly investigated and addressed.
Related Laws and Policies:
City Code - Human Rights Protection — Chapter 215
Sexual Harassment Policy
Workplace Violence Prevention Policy
Employee Standards of Conduct
Adopted by Common Council on 11/2/11
Revised by Common Council on XX/XX/XX
9.6 An Ordinance to Amend Various Sections of the City of Ithaca Municipal Code
Regarding Discrimination
ORDINANCE 2017 -
WHEREAS, the City Code has long included specific protections for the transgender community,
including reference to gender identity or expression; and
WHEREAS, reference to gender identity or expression, and other protected classes, has been
inconsistent throughout the City Code; and
WHEREAS, reference to gender identity or expression is included in Chapter 215 only as part of
the definition of gender for that Chapter; and
WHEREAS, the Common Council now desires to define and protect "gender identity or
expression" separately from "gender" within Chapter 215 and to make consistent throughout
the City Code the references to various protected classes; now, therefore
BE IT ORDAINED AND ENACTED by the Common Council of the City of Ithaca as follows:
Section 1. Chapter 39, Section 39-1, is hereby amended to read as follows:
Chapter 39: Contracts
Article I: Nondiscrimination
§39-1 Nondiscrimination Clause.
The following clause shall be included in any City contract: "The contractor will not discriminate
against any employee, applicant for employment, subcontractor, supplier of materials or
services or program participant because of actual or perceived age; creed; color; disability;
domestic violence victim status; ethnicity; familial status; gender; gender identity or
expression; height; immigration or citizenship status; marital status; military status; national
origin; predisposing genetic characteristics; race; religion; sex; sexual orientation;
socioeconomic status; or weight."
Section 2. Chapter 152, Section 152-8, Subsection VV (1), is hereby amended to read as
follows:
Chapter 152: Communications Technology
§152-8 Consumer protection standards.
VV. Rights of individuals.
(1) Nondiscrimination required. The grantee shall not deny service, deny access, or otherwise
discriminate against subscribers or channel users on the basis of actual or perceived age;
creed; color; disability; domestic violence victim status; ethnicity; familial status; gender;
gender identity or expression; height;- immigration or citizenship status; marital status;
military status; national origin; predisposing genetic characteristics; race; religion; sex;
sexual orientation; socioeconomic status; or weight of such person or group of people.
Section 3. Chapter 152, Section 152-11, Subsection B, is hereby amended to read as follows:
Chapter 152: Communications Technology
§152-11 Employment practices.
B. Nondiscrimination required. The grantee shall not discriminate against any employee or
applicant for employment, subcontractor, supplier of materials or services, or other person
by reason of actual or perceived age; creed; color; disability; domestic violence victim
status; ethnicity; familial status; gender; gender identity or expression ;
height; immigration or citizenship status; marital status; military status; national origin;
predisposing genetic characteristics; race; religion; sex; sexual orientation --a+
socioeconomic status; or weight of such person or group of people. The grantee shall
comply at all times with all other generally applicable federal and state laws and
regulations, which are hereby incorporated and made part of this article by reference.
Section 4. Chapter 157, Article II, Section 157-6, Subsection B, is hereby amended to read as
follows:
Chapter 157: Commons
Article II: Use of the Commons
§157-6 Responsibilities of permit holder.
B. A permit holder or vendor shall not discriminate against the people attending his or her
event or patronizing his or her business because of actual or perceived age;- creed -,,L- color;-
disability, -domestic violence victim status; ethnicity; -familial status; -gender,- gender
identity or expression; height;- immigration or citizenship status;- marital status;- military
status; national origin;, predisposing genetic characteristics; race,- religion;,- sex; sexual
orientation;- socioeconomic status,- or weight.
Section 5. Chapter 157, Article III, Section 157-21, Subsection B (15), is hereby amended to
read as follows:
Chapter 157: Commons
Article III: Outdoor Dining
§157-21 Application; rules of operation; permits; appeals.
B. Rules of operation.
(15) The applicant shall not discriminate against any employee, applicant for employment,
subcontractor, supplier of materials or services, or program participant because of actual or
perceived age;- creed;, color;- disability;- domestic violence victim status; ethnicity; -familial
status;- gender;- gender identity or expression; height;- immigration or citizenship status;-
marital status;, military status; national origin;- predisposing genetic characteristics; race;-
religion;, sex; sexual orientation;, socioeconomic status;, or weight.
Section 6. Chapter 157, Article IV, Section 157-26, Subsection B, is hereby amended to read as
follows:
Chapter 157: Commons
Article IV: Mobile Vending
§157-26 Vendor responsibility.
B. The vendor will not discriminate against any employee, applicant for employment,
subcontractor, supplier of materials or services, or program participant because of actual or
perceived age;, creed;- color;, disability; domestic violence victim status; ethnicity;, familial
status,, gender; -gender identity or expression; height;, immigration or citizenship status,,
marital status;, military status; national origin;- predisposing genetic characteristics; race;-
religion;, sex, sexual orientation;, socioeconomic status;, or weight.
Section 7. Chapter 215, Article I, Section 215-2, is hereby amended to add a definition as
follows:
Chapter 215: Human Rights Protection
Article I: Antidiscrimination
§215-2 Definitions.
GENDER IDENTITY OR EXPRESSION
When one's perception of self is different from their assiened sex at birth. External
appearance of one's gender identity, usually expressed through behavior, clothing,
haircut or voice, and which may or may not conform to socially defined behaviors and
characteristics typically associated with being either masculine or feminine.
Section 8. All provisions of Chapter 215, Article I are hereby amended to replace every instance
of a[DJC1] phrase that begins with "actual or perceived age" and ends with "weight" with the
following phrase:
"actual or perceived age; creed; color; disability; domestic violence victim status;
ethnicity; familial status; gender; gender identity or expression; height; immigration or
citizenship status; marital status; military status; national origin; predisposing genetic
characteristics; race; religion; sex; sexual orientation; socioeconomic status; or weight"
Section 9. Chapter 232, Article VI, Section 232-69, Subsection A (1), is hereby amended to read
as follows:
Chapter 232: Licensing of Businesses and Occupations
Aritcle VI: Taxicabs
§232-69 Operating Regulations.
A.(1) Nondiscrimination: not refuse or neglect to convey any orderly person upon request in
the City unless previously engaged or unable or forbidden by the provisions of this
article or any other applicable law. Notwithstanding the foregoing, no driver licensed
under this chapter shall discriminate on the basis of actual or perceived age; creed;
color; disability; domestic violence victim status; ethnicity; familial status; gender;
gender identity or expression; height; immigration or citizenship status; marital status;
military status; national origin; predisposing genetic characteristics; race; religion; sex;
sexual orientation; socioeconomic status; weight; or location within the City of Ithaca
Section 10. In Chapter 325, Article V, Section 325-29-1, Subsection C, the definition for "Adult
Physical Contact Establishment" is amended as follows:
ADULT PHYSICAL CONTACT ESTABLISHMENT
Any establishment which offers or purports to offer massage or other physical contact
to patrons . Medical offices,
offices of persons licensed or authorized under the Education Law to practice massage
therapy, offices of persons licensed or otherwise authorized by the Education Law as
physical therapists or physical therapist assistants and electrolysis, karate, judo and
dance studios are not to be considered adult physical contact establishments under this
section.
Section 11.
Severability. If any section, subsection, sentence, clause, phrase or portion of this ordinance is
held to be invalid or unconstitutional by a court of competent jurisdiction, then that decision
shall not affect the validity of the remaining portions of this ordinance.
Section 12.
Effective date. This ordinance shall take effect immediately and in accordance with law upon
publication of notices as provided in the Ithaca City Charter.
9.7 A Local Law to Amend Chapter 215 of the City of Ithaca Municipal Code entitled
"Human Rights Protection" Article V Entitled "Bias -Motivated Crimes"
LOCAL LAW NO. 2017 -
BE IT ENACTED by the Common Council of the City of Ithaca as follows:
Section 1. Legislative Findings, Intent, and Purpose.
It is the intent of this local law to make Chapter 215's references to gender identity or
expression, and other protected classes, consistent with other provisions of the City Code.
The Common Council makes the following findings of fact:
A. "Gender" and "gender identity or expression" are separate concepts, each
deserving of protection from discrimination under the City Code.
Section 2. Chapter 215, Section 215-29, Subsection A of the City of Ithaca Municipal Code is
hereby amended to read as follows:
§ 215-29 Purpose.
A. The Common Council of the City of Ithaca is concerned about violent and intimidating
actions based upon bias, prejudice and hatred which are prevalent in our society and have
been recognized as a serious problem in the City of Ithaca and the State of New York.
Violent and intimidating actions which are intended to hurt or intimidate individuals based
upon age, creed, color, disability, domestic violence victim status, ethnicity, familial
status, gender, gender identity orexpression, height, immigration or
citizenship status, marital status, military status, national origin, predisposing genetic
characteristics, race, religion, sex, sexual orientation, socioeconomic status, or weight send
out a powerful message of intolerance not only to the victims of those acts but also to the
members of groups to which the victims belong.
Section 3. The definition for "Gender Identity or Presentation" in Section 215-30 is hereby
amended to read as follows:
§ 215-30 Definitions.
GENDER IDENTITY OR PRESENT -144-1 EXPRESSION
SJh'lari-FrTc , e a-Perse;Ts-geRdeF ideRt+tySelf iWage, appea aRGe, •, F hehay. �,
When one's perception of self is different from their assigned sex at birth. External
appearance of one's gender identity, usually expressed through behavior, clothing, haircut or
voice, and which may or may not conform to socially defined behaviors and characteristics
typically associated with being either masculine or feminine.
Section 4. Section 215-31, Subsection A(2) is hereby amended to read as follows:
§ 215-31 Bias -motivated harassment.
A. A person commits the crime of bias -motivated harassment when:
(2) He or she intentionally selects the person or group of people against whom the act under
Subsection A(1) is committed because of the actual or perceived age; creed; color; disability;
domestic violence victim status; ethnicity; familial status; gender; gender identity or
xpression; height; immigration or citizenship status; marital status; military
status; national origin; predisposing genetic characteristics; race; religion; sex; sexual
orientation; socioeconomic status; or weight of such other person or group of people; or .
Section 5. Section 215-32, Subsection A(2) is hereby amended to read as follows:
§ 215-32 Bias -motivated intentional criminal mischief.
A. A person commits the crime of bias -motivated intentional criminal mischief when, having
no right to do so nor any reasonable ground to believe that he or she has such right:
(2) He or she intentionally selects the person or group of people against whom the act under
Subsection A(1) is committed or selects the property damaged or otherwise affected by the act
under Subsection A(1) because of the actual or perceived age; creed; color; disability; domestic
violence victim status; ethnicity; familial status; gender; gender identity or_pFesentati n
expression; height; immigration or citizenship status; marital status; military status; national
origin; predisposing genetic characteristics; race; religion; sex; sexual orientation;
socioeconomic status; or weight of such other person or group of people or the owner or
occupant of that property; or
Section 6. Section 215-33, Subsection A(2) is hereby amended to read as follows:
§ 215-33 Bias -motivated reckless criminal mischief.
A. A person commits the crime of bias -motivated reckless criminal mischief when, having no
right to do so nor any reasonable ground to believe that he or she has such right:
(2) He or she intentionally selects the person or group of people against whom the act under
Subsection A(1) is committed or selects the property damaged or otherwise affected by the act
under Subsection A(1) because of the actual or perceived age; creed; color; disability; domestic
violence victim status; ethnicity; familial status; gender; gender identity or_PF@F'eRtati n
expression; height; immigration or citizenship status; marital status; military status; national
origin; predisposing genetic characteristics; race; religion; sex; sexual orientation;
socioeconomic status; or weight of such other person or group of people or the owner or
occupant of that property; or
Section 7. Section 215-34, Subsection A(2) is hereby amended to read as follows:
§ 215-34 Bias -related graffiti -making.
A. A person commits the crime of bias -motivated graffiti -making when, without the express
permission of the owner or operator of said property:
(2) He or she intentionally selects the person or group of people against whom the act under
Subsection A(1) is committed or selects the property damaged or otherwise affected by the act
under Subsection A(1) because of the actual or perceived age; creed; color; disability; domestic
violence victim status; ethnicity; familial status; gender; gender identity or_pFesentatieR
expression; height; immigration or citizenship status; marital status; military status; national
origin; predisposing genetic characteristics; race; religion; sex; sexual orientation;
socioeconomic status; or weight of such other person or group of people or the owner or
occupant of that property; or
Section 8.
Severability. If any section, subsection, sentence, clause, phrase or portion of this ordinance is
held to be invalid or unconstitutional by a court of competent jurisdiction, then that decision
shall not affect the validity of the remaining portions of this ordinance.
Section 9.
Effective Date. This law will take effect immediately upon filing with the Secretary of State of
the State of New York
9.8 Approval and Authorization to Execute CSEA DPW Unit Contract - (Proposed Motion to
Enter into Executive Session to Discuss Matters Relating to Collective Negotiations with
Bargaining Units) - Resolution
RESOLVED, That Common Council approves the agreement between the City of Ithaca and the
CSEA DPW Unit for a six-year term commencing January 1, 2015 and expiring December 31,
2020; and, be it further
RESOLVED, That the Mayor is authorized to fully execute the agreement on behalf of the City.
»_1►1►IILINMI 01111Mo]►Ee]►T►I1X 01MA :IM MLTA 1:►h%Ie]LTA ILYAIkIIAA
10.1 An Ordinance to Amend the Municipal Code of the City Of Ithaca, Chapter 325,
Entitled "Zoning" To Revise Entry and Building Length Requirements for the Collegetown Area
Form Districts
A. Declaration of Lead Agency for Environmental Review - 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 zoning amendment is an "Unlisted" Action pursuant to the City
Environmental Quality Review (CEQR) Ordinance, which requires environmental review under
CEQR; now, therefore be it
RESOLVED, That the Common Council of the City of Ithaca does hereby declare itself lead
agency for the environmental review of the adoption of an ordinance to amend §325-45.2,
"District Standards," of the Collegetown Area Form Districts.
B. Determination of Environmental Significance — Resolution
WHEREAS, the City of Ithaca is considering an amendment to Chapter 325 of the Municipal
Code in order to revise the recessed entry and building length requirements for the
Collegetown Area Form Districts; and
WHEREAS, appropriate environmental review has been conducted including the preparation of
a Short Environmental Assessment Form (SEAF), dated November 15, 2016; and
WHEREAS, these zoning amendments have 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 have also been distributed for
review by the City of Ithaca Conservation Advisory Council and the City of Ithaca Planning and
Development Board; and
WHEREAS, the proposed action is an "Unlisted" Action under the City Environmental Quality
Review Ordinance; and
WHEREAS, the Common Council of the City of Ithaca, acting as lead agency, has reviewed the
SEAF prepared by planning staff; now, therefore, be it
RESOLVED, That this Common Council, as lead agency in this matter, hereby adopts as its own
the findings and conclusions more fully set forth in the Short Environmental Assessment Form,
dated November 15, 2016; 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
WHEREAS, there has been confusion over the application of the facade length requirement of
the Collegetown Area Form Districts, as adopted in 2014; and
WHEREAS, the proposed revisions would clarify the intent and application of various
regulations; now, therefore be it
ORDINANCE NO. 2017 -
BE IT ORDAINED AND ENACTED by the Common Council of the City of Ithaca that Chapter 325
of the Municipal Code of the City of Ithaca be amended as follows:
Section 1.
Chapter 325, Section 325-45.26(10) of the Municipal Code of the City of Ithaca is hereby
amended to read as follows:
(10) Recessed Entry
(a) Definition: A functioning entry that is set back a minimum of 5' from the
front facade of the building.
Section 2.
The CR -1 Activation Table shown in Chapter 325, Section 325-45.2E(1) of the Municipal Code of
the City of Ithaca is hereby amended to read as follows:
NATO IIVeN113001
DOORS AND ENTRIES
B) Functioning entry on the street -facing facade, min.
For corner lots, one functioning entry is required on therip •mars street -facing
facade
Section 3.
The CR -2 Activation Table shown in Chapter 325, Section 325-45.2E(2) of the Municipal Code of
the City of Ithaca is hereby amended to read as follows:
►e[4111IIVe1I113001
DOORS AND ENTRIES
B) Functioning entry on the street -facing fagade, min. 1
For corner lots, one functioning entry is required on therip •mars street -facing fagade
Section 4.
The CR -3 Activation Table shown in Chapter 325, Section 325-45.2E(3) of the Municipal Code of
the City of Ithaca is hereby amended to read as follows:
ACTIVATION
STREET FACADE
A) Building [fa@ade] length, all streets, max 45'
B) Length of blank wall, max 8'
DOORS AND ENTRIES
C) Functioning entry on the street -facing fagade, min. 1
For corner lots, one functioning entry is required on {a4the primary street -facing
fagade
Section 5.
The CR -4 Activation Table shown in Chapter 325, Section 325-45.2F(1) of the Municipal Code of
the City of Ithaca is hereby amended to read as follows:
ACTIVATION STREET FACADE
A) Building [fa§ade] length, primary street, max
1. Row house 100'
2. All other structures 45'
B) Length of blank wall, max 8'
I 0 "W-11011D7a►11SIx►1
C) Functioning entry on the street -facing facade, min 1
For corner lots, one functioning entry is required on {a4the primary street -facing
facade
Section 6.
The MU -1 Activation Table shown in Chapter 325, Section 325-45.2G(1) of the Municipal Code
of the City of Ithaca is hereby amended to read as follows:
ACTIVATION STREET FACADE
D) Building [fa@ade] length, primary street, max
3. Row house 150'
4. All other structures 75'
Section 7.
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 8.
Effective date. This ordinance shall take effect immediately and in accordance with law upon
publication of notices as provided in the Ithaca City Charter.
10.2 Authorization for Exemption from Real Property Taxes and Provision for In -Lieu of
Payments, with Regard to the Ithaca Neighborhood Housing Services, Inc. ["INNS"] Affordable
Housing Scattered Site Preservation Prosect — Resolution
WHEREAS, there is a demonstrable and critical shortage of affordable housing within the City of
Ithaca and Tompkins County; and
WHEREAS, Pursuant to Section 577 of the New York State Private Housing Finance Law (PH FL),
the Council hereby exempts from real property taxes, for a period of thirty (30) years, the
following properties, to be owned by a housing development fund company formed under
Article XI of PHFL and sponsored by the Ithaca Neighborhood Housing Services, Inc. ("INNS")
and beneficially owned by a to -be -formed partnership affiliate of INHS formed for the purpose
of developing the Project (hereinafter the "Owner"), and to be used for the provision of
affordable rental housing to qualified persons or families of low income as a part of the
Scattered Site Rental Preservation Project (the "Project"); and
WHEREAS, the Project includes renovation of 98 residential units in 44 buildings as follows:
Address:
Tax Parcel #:
105 Fourth Street
44.-6-15
107A Fourth Street
44.-6-16
107 Fourth Street
44.-6-16
108 N. Corn Street
72.-3-14
110 Esty Street
50.4-21
112 Esty Street
50.4-21
113 Fourth Street
44.-6-1
216 Cascadilla Street
45.-5-11
316-18 S. Corn Street
79.-5-15
356 Floral Ave.
97.-1-6.2
380-90 Floral Ave.
97.-1-7.2
402 Center Street
79.-6-10
402 W. Seneca Street
60.-6-12
417 Cascadilla Street
51.-3-2
418-20 Cascadilla Street
44.-6-14
602 W. Green Street
72.-4-12
Cascadilla Green 1
25.-3-1.1
308 Adams Street
310 Adams Street
509 First Street
511 First Street
507 First Street
505 First Street
513 First Street
515 First Street
517 First Street
BACK-UP ITEM 10.1
V4 i A'
CITY OF ITHACA SHORT ENVIRONMENTAL ASSESSMENT FORM (SEAF)
�9IORAROtea.
Project Information
(to be completed by applicant or project sponsor)
1. Applicant/Sponsor:
2. Project Name:
City of Ithaca
Proposal to Amend §325-45,
Collegetown Area Form Districts, to
Revise Entry and Building Length
Requirements
3. Project Location: Collegetown, City of Ithaca
4. Is Proposed Action:
O New O Expansion X Modification/Alteration
5. Describe project briefly: The proposed action would amend the Collegetown Area
Form Districts as follows:
• Increase the required depth of a recessed entry from 12" to 5';
• Clarify that the one required entry on corner lots must be located on the
primary street -facing faVade of the building;
• Change the maximum faVade length requirement to a maximum building
length requirement in the CR -3, CR -4, and MU -1 districts;
• Apply the maximum building length requirement to all street -facing sides of a
building in the CR -3 district; and
• Clarify that the maximum building length requirement applies only to the
primary street -facing side of a building in the CR -4 and MU -1 districts.
6. Precise Location (road intersections, prominent landmarks, etc., or provide map):
All parcels located within the Collegetown Area Form Districts
7. Amount of Land Affected:
Initially: 40 Acres Ultimately: 40 Acres
8. Will proposed action comply with existing zoning or other existing land use
restrictions?
O Yes X No If no, describe briefly: The proposed action is a zoning
amendment
9. What is present land use in vicinity of project:
X Residential O Industrial O Agricultural X Parkland/Open Space
X Commercial O Other
Describe:
10. Does action involve a permit/approval or funding, now or ultimately, from
governmental agency (federal/state/local): O Yes X No
If yes, list agency name and permit/approval type:
11. Does any aspect of the action have a currently valid permit or approval?
O Yes X No
If yes, list agency name and permit/approval type:
12. As a result of proposed action, will existing permit/approval require modification?
O Yes X No
I certify the information provided above is true to the best of my knowledge.
PREPARER'S SIGNATURE:
PREPARER'S TITLE: Senior Planner
REPRESENTING: City of Ithaca
DATE: 11/15/16
SHORT ENVIRONMENTAL ASSESSMENT FORM
T)- TT
To Be Completed By Staff
In order to answer the questions in this Short Environmental Assessment Form (SERF), the preparer is to use
;urrently available information concerning the project and the likely impacts of the action.
lame of Project: Proposal to Amend §325-45, Collegetown Area Form Districts,
o Revise Entry and Building Length Requirements
1. Will project result in a large physical change to the project site or physically alter
more than one acre of land?
2. Will there be a change to any unique or unusual land form found on the site or to any
site designated a unique natural area or critical environmental area by a local or state
agency?
3. Will the project alter or have any effect on an existing waterway?
4. Will the project have an impact on groundwater quality?
5. Will the project affect drainage flow on adjacent sites?
6. Will the project affect any threatened or endangered plant or animal species?
7. Will the project result in an adverse effect on air quality?
8. Will the project have an effect on visual character of the community or scenic views
or vistas known to be important to the community:
9. Will the project adversely impact any site or structure of historic, pre -historic, or
paleontological importance or any site designated a local landmark or in a landmark
district?
10. Will the project have an effect on existing or future recreational opportunities?
11. Will the project result in traffic problems or cause a major effect to existing
transportation systems?
12. Will the project cause objectionable odors, noise, glare, vibration, or electrical
disturbance as a result of the project's operation during construction or after
completion?
13. Will the project have any impact on public health or safety?
14. Will the project affect the existing community by directly causing a growth in
permanent populations of more than 5 percent over a one-year period OR have a
negative effect on the character of the community or neighborhood?
15. Is there
the
Yes No
❑ X
❑ X
❑ X
❑ X
❑ X
❑ X
❑ X
❑ X
❑ X
❑ X
❑ X
❑ X
❑ X
❑ X
If any question has been answered YES, a completed Full Environmental Assessment Form (FEAF) is
necessary.
PREPARER'S SIGNATURE: DATE: 11/15/16
PREPARER'S TITLE: Senior Planner
REPRESENTING: City of Ithaca
j:\projects\collegetown\2012\collegetown area form districts\revisions\building length & recessed entry_november 9
2016\seaf part ii.docx
10.2 Authorization for Exemption from Real Property Taxes and Provision for In -Lieu of
Payments, with Regard to the Ithaca Neighborhood Housing Services, Inc. ["INNS"] Affordable
Housing Scattered Site Preservation Prosect — Resolution
WHEREAS, there is a demonstrable and critical shortage of affordable housing within the City of
Ithaca and Tompkins County; and
WHEREAS, Pursuant to Section 577 of the New York State Private Housing Finance Law (PH FL),
the Council hereby exempts from real property taxes, for a period of thirty (30) years, the
following properties, to be owned by a housing development fund company formed under
Article XI of PHFL and sponsored by the Ithaca Neighborhood Housing Services, Inc. ("INNS")
and beneficially owned by a to -be -formed partnership affiliate of INHS formed for the purpose
of developing the Project (hereinafter the "Owner"), and to be used for the provision of
affordable rental housing to qualified persons or families of low income as a part of the
Scattered Site Rental Preservation Project (the "Project"); and
WHEREAS, the Project includes renovation of 98 residential units in 44 buildings as follows:
Address:
Tax Parcel #:
105 Fourth Street
44.-6-15
107A Fourth Street
44.-6-16
107 Fourth Street
44.-6-16
108 N. Corn Street
72.-3-14
110 Esty Street
50.4-21
112 Esty Street
50.4-21
113 Fourth Street
44.-6-1
216 Cascadilla Street
45.-5-11
316-18 S. Corn Street
79.-5-15
356 Floral Ave.
97.-1-6.2
380-90 Floral Ave.
97.-1-7.2
402 Center Street
79.-6-10
402 W. Seneca Street
60.-6-12
417 Cascadilla Street
51.-3-2
418-20 Cascadilla Street
44.-6-14
602 W. Green Street
72.-4-12
Cascadilla Green 1
25.-3-1.1
308 Adams Street
310 Adams Street
509 First Street
511 First Street
507 First Street
505 First Street
513 First Street
515 First Street
517 First Street
519 First Street
521 First Street
523 First Street
307 Franklin Street
309 Franklin Street
Cascadilla Green II 25.-3-1.21
301 Franklin Street
522 Alice Miller Way
303 Franklin Street
305 Franklin Street
512 Alice Miller Way
514 Alice Miller Way
516 Alice Miller Way
504 Alice Miller Way
506 Alice Miller Way
508 Alice Miller Way
510 Alice Miller Way
518 Alice Miller Way
304 Adams Street
306 Adams Street
WHEREAS, the City of Ithaca has determined that the continued provision of affordable rental
housing to qualified persons or families of low income by INHS is beneficial to and in the long
term best interests of the public, and in connection with the City of Ithaca Common Council's
endorsement of the INHS Affordable Housing Scattered Site Preservation project at its regular
meeting held on the 2nd day of November, 2016; now, therefore be it
RESOLVED, That the Common Council of the City of Ithaca pursuant to §577 of the Private
Housing Finance Law of the State of New York hereby grants to the properties listed herein a
tax exemption from real property taxes levied by the City of Ithaca and other local taxing
authorities for a period of thirty (30) years, and Owner shall make annual in -lieu -of -tax
payments (hereinafter referred to as "PILOT") to the City of Ithaca equal to 12% of its annual
"net operating income", but in no event to be less than $58,837, plus additional negotiated
annual amounts after fifteen (15) years when Project payment obligations are projected to
decline. "Net operating income" shall equal gross rents received by the Owner less operating
costs, as determined by an annual audit, paid by the Owner for the duration of the exemption
period. The PILOT shall be shared by the City of Ithaca with Tompkins County and the Ithaca
City School District in the same ratio as total school, city and county taxes would have been
paid with respect to the Project without taking into account the exemption provided for herein;
and, be it further
RESOLVED, That the PILOT agreement shall include provisions requiring the construction
contract for the Project to include specific provisions that require (1) outreach to local
subcontractors in construction trades requesting bids, to the greatest extent feasible, and (2)
outreach to local vendors requesting quotes for construction materials to the greatest extent
feasible; and
RESOLVED, That the Mayor upon the advice of the City Attorney and the City Controller and on
behalf of the City of Ithaca is hereby authorized and requested to execute and deliver to any
pertinent party an agreement between the City of Ithaca and Owner, setting forth as necessary
the details of the PILOT, and to take any and all action necessary and/or required to effectuate
or verify such payments or tax exemption, the PILOT agreement shall contain such additional
terms and conditions as the Mayor deems to be appropriate; and, be it further
RESOLVED, That this resolution shall take effect immediately.
r
P
MN1,11QIJ2k9:4 M ffi11W
Ithaca Neighborhood111. 1
HOUSING SERVICES � �v R
Initially Provided to City of Ithaca on: December 2, 2016
Revised "Property Tax Difference Chart" on December 8, 2016 [page 4]
Mayor Myrick
City of Ithaca 108
East Green Street
Ithaca, NY 14850
RE: Request forthe City of Ithaca to enterinto a Payment In Lieu of
Tax Agreement for the INHS Scattered Site Rental Preservation
Project
Dear Mr. Mayor:
This letter is to request that the City of Ithaca enter into a Payment In Lieu of Tax
Agreement (PILOT) for the Ithaca Neighborhood Housing Services Scattered Site
Rental Preservation Project ('the Project'). The Project is eligible for a PILOT
Pursuant to Section 577 of the New York State Private Housing Finance Law (PH FL),
which allows the municipality in which the project is located to grant an exemption
of property taxes and PILOT if the Project is owned by a Housing Development Fund
Corporation (HDFC) and the Project is providing low income housing.
The Project meets both of the Section 577 tests; it will be owned by an HDFC and
provide regulated affordable housing for 50 years. The I N H S Scattered Site Rental
Preservation project is a mixed -income, multi -family rental project, involving the
refinancing and renovation of 98 residential units in 44 buildings on 17 tax parcels.
These units make up the majority of the scattered site rental portfolio acquired by
I N H S over the past 30 years. The project is 100% residential; there is no
commercial space.
The buildings are located in Census Tracts 1, 8, and 10 in the City of Ithaca. There
are 16 studio apartments, 23 one bedrooms, 28 two bedrooms, 28 three
bedrooms, and 3 four bedroom apartments.
The INHS Scattered Site Portfolio is affordable because INHS's mission is to provide
affordable housing. To accomplish this mission rents have been set below market
rates. Only a small fraction of the units have any type of housing regulatory
agreement requiring affordability even though the portfolio represents one of the
largest affordable housing portfolios in the City and provides housing for more than
70 Housing Choice Voucher holders.
Approximately 80% of the families living in these apartments earn less than 60% of the Area
Median Income (AMI). While this housing serves those most in need it also is home to 17
more moderate income families. The scattered site makeup of the project contributes to a
more diverse income mix in residential neighborhoods. INHS will retain this income mix and
work to ensure that no tenants are permanently displaced as part of the project.
A consequence of maintaining low rents and keeping the Portfolio affordable is that there is
often not enough money to do the repairs that are needed. Over the years, as the Scattered
Site portfolio has grown and the structures have aged, the buildings have become difficult to
manage. In many cases only the most pressing maintenance needs are addressed while the
more critical large capital expenditures like roofs, siding, and energy efficiency upgrades
delayed.
Renovating and refinancingthe Portfolio provides a unique opportunity to:
(10) improve the quality of life for 98 low and moderate income families,
(11) restrict the units as affordable housing for 50 years,
(12) improve the energy efficiency of the portfolio to reduce greenhouse gases
and cost of utilities,
(13) improve the curb appeal of the buildings and as a result the blocks and
neighborhoods where they are located,
(14) capitalize reserves to mitigate ongoing maintenance and operating risk, and
(15) invest equity from the sale of the portfolio into the development of new
affordable housing.
The refinance would include renovating each building based on a recently completed Capital
Needs Assessment that evaluated roofs, windows, insulation, siding, kitchens, baths,
carpeting, flooring, heating systems, and cosmetics. Floor plans, elevations, and a detailed
scope of work have been created for each building and unit. The total renovation budget is
over $6,000,000 to bring these units up to "like new" condition.
There are additional expenses involved in acquiring the buildings, legal work, insurance,
architecture and other soft costs as well as setting aside reserve funds to ensure that the units
continue to be maintained over the next 30 years. The total development budget for the
project is over $19,000,000.
The financing to cover the cost of this work includes 4% Low Income Housing Tax Credit
Equity, Tax Exempt Bonds issued by the NYS Housing Finance Agency, a subsidy loan from
the NYS Housing Finance Agency's Multi Family Preservation Program and Tompkins
County's Community Housing Development Funds.
In addition to these sources INHS has the opportunity to take advantage of grant dollars from
a settlement agreement between Morgan Stanley and the New York State Attorney General.
These funds must be accepted by the municipality in which the project is located and the
Council approved this acceptance at its October Meeting.
INHS will also contribute equity to the project in the form of a Seller's note. As part of the
Project INHS will sell the 98 units to the HDFC as record titleholder of the project and to a
newly formed limited liability company established to own the beneficial interest in the
project. INHS has agreed to use the funds from the sale for three purposes:
A) Pay any outstanding debt obligations including loans to the IURA.
B) Invest the funds back into the Scattered Site Project in the form of a Seller's Note.
C) Invest any remaining proceeds in the creation of new affordable housing.
Attached is a MEMO drafted by the INHS Real Estate Development Committee for board
approval. This MEMO details how the use of equity from the Project will go toward the
three purposes outlined above and could significantly increase the organization's ability to
create new affordable housing in the future.
Unlike many of the new construction affordable housing complexes INHS has developed over
the past 10 years, the financing scenario outlined above requires significant hard debt service;
as a result, if the project is to be financially feasible and rents are to be maintained at current
affordable levels, INHS must reduce expenses. This letter is requesting that the City of Ithaca
utilize the option of providing a real property tax exemption for the project, other than
assessments for local improvements, and enter into a PILOT Agreement as outlined below.
INHS is requesting that the properties be exempt from taxes and instead make an annual
payment based on 12% of Net Operating Income (NOI) for a period of thirty
(30) years. "Net operating income" is the amount of income equal to gross rents received less
operating costs, as determined by an annual audit. The operating costs will not include
depreciation or debt service payments.
This is the formula that the County Industrial Development Agency (IDA) utilized for the PILOT
agreement at 210 Hancock. While INHS could request this same PILOT agreement for the
Scattered Site Project through the IDA, it would be less costly to the Project in both legal
expenses and fees to have the City of Ithaca enter into the PILOT instead. Our attorneys inform
us that the most common form of affordable housing real property tax exemption in Upstate
New York municipalities (including Buffalo, Rochester and Syracuse, among others) is through
the provisions we are seeking to utilize here. Below is an analysis of the difference between the
PILOT payment and the payment of taxes if the property were assessed by the County after the
refinancing— labeled "581A Assessment." 581A is a NYS Real Property Tax Law that directs the
assessment department to use the actual income and expenses of the project to calculate the
value rather than using hypothetical income or expenses. These numbers are based on current
projections of income and expenses and tax rates.
To ensure that INHS does not pay less than the proposed PILOT payment in year one the
attached resolution includes an annual "floor" so that the PILOT Payment could never be
less than $58,837. If the income of the Project were to increase then the annual payment to
the City would also increase. The same is true if expenses go down; for example, by
improving the energy efficiency of the portfolio and reducing annual utility expenses INHS is
improving the chances of the Project paying a higher annual PILOT Payment. In addition to
the annual 12% Payment INHS is willing to consider an increased payment at the end of the
15 year tax credit compliance period.
INHS is also including language in the attached PILOT resolution that the Payment be shared
by the City of Ithaca with Tompkins County and the Ithaca City School District in the same
ratio as total school, city and county taxes would have been paid with respect to the
Project.
While the PILOT does result in lost tax revenue it does provide the City with an
opportunity to implement the stated goal in Section 5.1 of the comprehensive plan; that
"The existing stock of affordable housing will be preserved and well- maintained."
Without a PILOT Agreement the Project cannot move forward as currently designed; INHS
cannot apply for over $12,000,000 in private and State funding; and the $4,000,000 of
Morgan Stanley funding that the Council has accepted on behalf of the project will be lost.
Thank you and the Council for taking the time to consider this request. Attached you
will find supporting documentation. Please feel free to contact me with any questions.
Sincerely,
Joseph L. Bowes
Director of Real Estate Development
i011A►►►1:11-LIIkiI:M 1
12.2 Appointment of Marriage Officers —Resolution
RESOLVED, That the following Alderpersons be designated as Marriage Officers for the year
2017:
Alderperson Brock
Alderperson Murtagh
Alderperson Fleming
Alderperson Kerslick
Alderperson Martell
Alderperson McGonigal
Alderperson Nguyen
Alderperson Gearhart
Alderperson Smith
Alderperson Mohlenhoff
14. MAYOR'S APPOINTMENTS:
14.1 Reappointments to Cable Access Oversight Committee — Resolution
RESOLVED, That Wayles Browne be reappointed to the Cable Access Oversight Committee with
a term to expire December 31, 2019; and be it further
RESOLVED, That Sue Perlgut be reappointed to the Cable Access Oversight Committee with a
term to expire December 31, 2019.
14.2 Appointment to the Program Oversight Committee (POC) for the Community Housing
Development Fund - Resolution
RESOLVED, That J. R. Clairborne's appointment be modified to become a full member to the
Program Oversight Committee for the Community Housing Development Fund; and, be it
further
RESOLVED, That Josephine Martell be appointed as an alternate member to the Program
Oversight Committee for the Community Housing Development Fund.
:T_[y:QlJaIIAAEEWA
HF 2015-1-8695
MEMORANDUM OF UNDERSTANDING AMONG THE COUNTY OF TOMPKINS, THE CITY
OF ITHACA, AND CORNELL UNIVERSITY WITH REGARD TO THE COMMUNITY
HOUSING DEVELOPMENT FUND
WHEREAS, the signatories of this Memorandum of Understanding (MOU) established the Tompkins
County Housing Fund in 2009 and have successfully administered it through 2015, assisting the
construction of 124 affordable housing units to date and with an additional 80 units expected to proceed to
construction, and
WHEREAS, the signatories wish to further develop this program as the Community Housing
Development Fund ("the Fund") to be used to meet affordable housing needs throughout Tompkins
County, the goal of the Fund being to assist communities, organizations, and housing developers
throughout Tompkins County to respond to the diverse affordable housing needs of its residents, and
WHEREAS, the signatories recognize the value of producing and retaining mixed -income housing that is
available to a diversity of residents with a range of incomes, and that mixed -income housing projects that
include affordable units should be encouraged and eligible for program assistance, particularly to support
projects complying with local inclusionary zoning ordinances,
WHEREAS, in administering the Community Housing Development Fund, the signatories recognize the
benefits of providing funds to experienced for-profit and not-for-profit developers for the cost of land and
other costs associated with the development, rehabilitation, and retention of affordable housing units,
provided that the housing units assisted with those funds remain permanently affordable for those earning
up to 80% of Area Median Income (AMI) or up to 120% of AMI provided a project also contains a
significant proportion of housing units for households earning 80% or less of AMI, and
WHEREAS, the signatories further recognize that the understanding of the challenges to affordable
housing development and preservation, and best practices to improve and expand the supply of affordable
housing, continue to evolve as both Tompkins County and communities throughout the nation continue to
face complex and persistent affordable housing challenges, NOW, THEREFORE, the signatories agree as
follows:
A. The signatories are the COUNTY OF TOMPKINS (hereinafter "County"), the CITY OF ITHACA
(hereinafter "City"), and CORNELL UNIVERSITY (hereinafter "Cornell"), with all signatories
hereinafter jointly referred to as "the participating entities".
B. The Community Housing Development Fund is a locally funded and administered program that assists
with the development costs associated with residential and mixed-use real estate development
projects. The Fund is intended to ensure that newly constructed or rehabilitated homes, as well as
existing affordable housing units, remain permanently affordable to future generations of renters and
buyers.
C. In accordance with the objectives set forth in the whereas clauses above, a Notice of Funding
Availability (NOFA) will be drafted for each funding round released under the Community Housing
Development Fund to describe available funding opportunities and application procedures. Applicants
for funding consideration will be required to submit detailed evidence of their qualifications and
capabilities in completing similar projects and successfully delivering new or adaptive -reuse housing,
or preserving existing affordable units that conform to the affordability objectives described in the
Notice of Funding Availability. Funds shall be awarded as described below in Section G. Applicants
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will be required to comply with certain measurements and performance criteria intended to ensure that
disbursed funds fulfill the objectives set forth by the signatories.
D. The participating entities shall form a Program Oversight Committee made up of three representatives
appointed by each signatory to this Memorandum of Understanding, for a total of nine members. It is
suggested that at least one representative be a member of the elected body or senior administration of
each signatory. The remaining City and County seats should be drawn from community members
with relevant expertise such as those representing a financial institution with housing lending
experience; a real estate development firm or organization; a representative from an economic
development firm or organization or in the case of Cornell University, a Cornell representative with
housing lending, real estate, or economic development experience. Each participating entity shall
appoint one alternate member, and may also appoint one staff member as an ex -officio non-voting
member.
E. The Program Oversight Committee will be responsible for (1) administering the Fund (including but
not limited to finalizing and administering the NOFA document and process) with assistance from
staff of the Tompkins County Planning Department; (2) appointing members to and reviewing
recommendations from the Application Review Committee; and (3) making final funding
recommendations to the participating entities. In addition, the Program Oversight Committee will be
responsible for (4) monitoring the use of funds, (5) overseeing the funds any additional entities may
choose to contribute, and (6) identifying and proposing other opportunities to advance affordable
housing within Tompkins County, subject to the approval of the participating entities.
F. An Application Review Committee shall consist of members appointed by the Program Oversight
Committee to evaluate and rate applications for funding and provide recommendations to the Program
Oversight Committee on such funding applications. The Application Review Committee members
may include an appointed member representing housing professionals from outside the County and
should include appointed local professionals with experience in relevant fields such as real estate
development, housing, the building industry, planning, sustainable development, human service
needs, or real estate finance.
G. Participating entities agree to enter into the MOU with the understanding that funds will be provided
based on the recommendations of the Program Oversight Committee, and to enter into grant
agreements with funding recipients in a timely fashion. However, notwithstanding the above, each
participating entity shall have the right to decline use of its own funds for an application
recommended for approval by the Program Oversight Committee that does not, at its sole discretion,
match its housing initiative priorities. In recognition that City residents pay property taxes to the
County, the County agrees not to decline an application for funding solely because the housing project
is located within the City, to the extent permitted by applicable laws and regulations governing use of
County funds paid toward the funding of the NOFA. The decision of the participating entity to decline
support of a project cannot be overruled by the Program Oversight Committee.
H. Each participating entity shall contribute funds in the amounts specified below to be used to capitalize
the Community Housing Development Fund. Each participating entity will have custody of and
manage its individual contributions, at its own expense.
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Table 1: Sources of Funds for the NOFA.
Term of MOU
Tompkins County
City of Ithaca
Cornell
University
Total
Year 1
$100,000
$100,000
$200,000
$400,000
Year 2
$100,000
$100,000
$200,000
$400,000
Year 3
$100,000
$100,000
$200,000
$400,000
Year 4
$100,000
$100,000
$200,000
$400,000
Year 5
$100,000
$100,000
$200,000
$400,000
Year 6
$100,000
$100,000
$200,000
$400,000
Total Contribution
$600,000
$600,000
$1,200,000
$2,400,000
I. The COUNTY agrees to:
1. Contribute $600,000 ($100,000 annually per Table 1 during the term of the MOU) toward the
funding of the NOFA and any affordable housing related efforts approved by the participating
entities.
2. Participate in the Program Oversight Committee to prepare a Notice of Funding Availability
(NOFA).
3. Make such contribution on the condition that all disbursements of funding made from its
contributions are used on proposed housing projects or related efforts approved by the
participating entities, consistent with the municipal program requirements for the sources of
funding.
4. Participate on the Program Oversight Committee throughout the NOFA process.
5. Provide assistance from staff of the Tompkins County Planning Department to support the
administration of the Fund.
6. Provide assistance from staff of the Tompkins County Planning Department to support the
Program Oversight Committee and the Applications Review Committee.
7. Enter into agreements for disbursement of funds to approved recipients.
8. Track all funds contributed to the Community Housing Development Fund, invoice
participating entities for the funds awarded from their contributions to particular proposals,
and disburse the funding awards as appropriate for proposals awarded funding.
9. Account on a regular basis to the other participating entities for disbursement of funds from
the Community Housing Development Fund.
10. Determine a process by which the COUNTY will determine whether or not it grants approval
of using the Community Housing Development Fund to support additional affordable housing -
related activities suggested by the Program Oversight Committee. No COUNTY contributions
to the Fund will be used for these additional activities without COUNTY approval.
J. The CITY agrees to:
1. Contribute $600,000 ($100,000 annually per Table 1 during the term of the MOU) toward the
funding of the NOFA.
2. Participate in the Program Oversight Committee to prepare a Notice of Funding Availability
(NOFA).
3. Make such contribution on the condition that all disbursements of funding made from its
contributions are used on proposed housing projects or related efforts approved by the
participating entities, consistent with the municipal program requirements for the sources of
funding.
4. Participate on the Program Oversight Committee throughout the NOFA process.
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5. Enter into fiscal agreement(s) with the COUNTY and make funds available for disbursement
to approved recipients receiving support from the City's contribution to the Fund.
6. Track City funds committed to the Community Housing Development Fund.
7. Determine a process by which the CITY will determine whether or not it grants approval of
using the Community Housing Development Fund to support additional affordable housing -
related activities suggested by the Program Oversight Committee. No CITY contributions to
the Fund will be used for these additional activities without CITY approval.
K. CORNELL agrees to:
1. Contribute $1,200,000 ($200,000 annually per Table 1 during the term of the MOU) toward
the funding of the NOFA.
2. Participate in the Program Oversight Committee to prepare a Notice of Funding Availability
(NOFA) consistent with Cornell University's workforce development and housing goals.
3. Make such contribution on the condition all disbursements of funding made from its
contributions are used on proposed housing projects or related efforts approved by the
participating entities, consistent with Cornell University's workforce development and housing
goals.
4. Participate on the Program Oversight Committee throughout the NOFA process.
5. Make funds available for disbursement to approved recipients receiving support from
Cornell's contribution to the Fund.
6. Track Cornell funds committed to the Community Housing Development Fund.
7. Determine a process by which the Cornell will determine whether or not it grants approval of
using the Community Housing Development Fund to support additional affordable housing -
related activities suggested by the Program Oversight Committee. No CORNELL
contributions to the Fund will be used for these additional activities without CORNELL
approval.
L. Additional municipalities, major employers, charitable foundations, or private entities are encouraged
to contribute funding to the Community Housing Development Fund. It is the responsibility of the
Program Oversight Committee to oversee the contributions of additional entities. The Program
Oversight Committee may accept or reject contributions at its sole discretion. The Program Oversight
Committee will at its sole discretion determine how funds from additional entities are to be disbursed.
In the event an additional municipality, major employer or charitable foundation who commits to
contribute funding also seeks representation on the Program Oversight Committee, such
representation shall be permitted as follows:
1. A contribution of $50,000 or more to the Community Housing Development Fund by an
interested municipality, major employer or charitable foundation will make it eligible to
appoint one associate member to the Program Oversight Committee for the program year in
which the contribution is made. Associate members will have voting privileges but will not be
counted towards quorum.
2. The contributors will agree to disburse funding awards for proposal(s) receiving funding as
directed by the Program Oversight Committee.
M. Funds not expended in one year by any of the participating entities will be rolled over to the following
year and will be available in addition to the participating entity's annual contribution.
N. This MOU shall be effective upon execution by all the participating entities and shall have a term of
six -years or until such time as funds encumbered by each of the participating entities for the
Community Housing Development Fund are committed and fully expended, whichever is later.
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HF 2015-1-8695
O. Each participating entity may terminate this MOU for any reason upon thirty (30) days written notice
to the other participating entities. Upon termination, the terminating entity shall honor the funding
obligations from any agreements made by it with funding recipients prior to the date of termination.
Any contributions committed to the Community Housing Development Fund by the terminating entity
for the year within which the written notice of termination was issued will remain available for use on
Community Housing Development Fund projects.
P. Modification: This Memorandum of Understanding may be modified at any time by mutual
agreement of all three signatories.
Q. The Program Oversight Committee will review the Notice of Funding Availability, Program
Oversight Committee bylaws, and the Memorandum of Understanding as needed. When the POC has
discussed a particular programmatic change, final approval of language can be obtained by email with
all committee members. If an objection is raised by any voting member within 10 business days, said
change must be brought to the next Program Oversight Committee meeting for a final decision.
Should no objections be raised within 10 business days, the change will take effect.
R. To the extent permitted by law, each participating entity hereby agrees to indemnify, hold harmless
and defend the other participating entities and their respective officers, employees, agents and elected
officials from and against any and all claims and actions brought against the other participating
entities and their respective officers, employees, agents or elected officials, for injury or death to any
person or persons, or for damage to property, arising out of the performance of this Memorandum of
Understanding by the participating entity, its employees, subcontractors, or agents.
S. Participating entities will not discriminate against any employee, applicant for employment, sub-
contractor, supplier of materials or services, or program participant because of actual or perceived:
age, creed, color, disability, ethnicity, familial status, gender, height, immigration or citizenship status,
marital status, national origin, race, religion, sexual orientation, socio-economic status, or weight.
T. The Program Oversight Committee shall adopt, by agreement of at least seven committee members,
bylaws that minimally define a quorum as 6 members including at least 2 voting members from each
participating entity, and specify the minimum number of votes required to take action. Amendments
to the bylaws shall require agreement of at least seven duly appointed committee members.
Tompkins County
Name:
JACQUELINE KIPPOLA
RISK MANAGER
Title: COUNTY OF TOMPKINS
Signature:_;
i
Date: /' ' (
City of Ithaca
Name:- 1
Title:
Signature:
.Date:
Cornell University
Name:
Title:
Signature: -�
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Date: L/ $
M
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