City Council Minutes 2015 10 13 SP

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City Council Meeting Minutes October 13, 2015 Page 11 of 18 Council member Loo asked if the Street Faire was trademarked. Mr. Tienken answered it was. Council member Loo noted Street Faire as a brand was successful and if the City wants to partner, resist the temptation to micro - manage. If it can't continue to be done correctly and well, don't do it at all. Council member Lipton agreed with Council member Loo; Street Faire has a unique brand and energy and must continue to be done well. He suggested earmarking $130,000 in the budget for 2016 for Street Faire. Mr. Tienken noted one of the assumptions of previous numbers, the $20,000 received from the City was included, so would make the number closer to $150,000. The cost of a staff person is unknown. DBA does not want to book bands appearing all across the metro area. Street Faire was begun to get people to come downtown and not as a profit generating idea. As businesses grew downtown, so did the revenue and effort needed to provide the Street Faire, lights and flowers. Council member Stolzmann wanted more detail and formalized presentation when special events are discussed at the next Council meeting. She wondered if flowers could perhaps be done internally. She liked the lights but thought the purchasing policy should be followed. She did not see the dollar figure Council member Lipton had mentioned. Mayor Muckle asked staff to come back with numbers and details for a partnership with the DBA and producing the Street Faire. Economic Director Dejong said the proposal would be $50,000 for flowers and lights in 2016, a difference of $30,000 from the 2015 budget and an additional $100,000 for the partnership of the Street Faire for 2016. More information will be available at the next meeting. Fiscal Policies Mayor Muckle inquired if Council was comfortable with the discussion on the Fiscal Policy coming back after Finance Committee Council member Loo stated her understanding there would be payment of monies from other funds to the Combined Utility Fund for the water Parks and Recreation uses. City Manager Fleming remarked that was correct, the percentage has been ramped up in the proposed budget for 2016 to 75 %. Fund Balances Mayor Muckle noted Council member Lipton had expressed a desire for the reserves to grow to above 20% and felt the graph in the packet showed for the next couple of years this was true.