Finance Committee Agenda and Packet 2021 02 15

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City Council Finance Committee Meeting Minutes 01 /25/20 Page 2 of 4 APPROVAL OF THE MINUTES FROM THE DECEMBER 15, 2020 MEETING The Finance Committee approved the December 15, 2021 minutes as presented. PUBLIC COMMENTS ON ITEMS NOT ON THE AGENDA Nancy Holloway from the Louisville Community Food Bank addressed the Committee regarding the Non -Profit Grant Program. The Louisville Community Food Bank did not receive a grant for the 2021-2022 biennium. Ms. Holloway asked the Committee to reconsider granting the Louisville Community Food Bank the requested amount of $1,000. NEW MEMBER ORIENTATION — WINDY GAP FIRMING PROJECT Kurt Kowar, Public Works Director, and Cory Peterson, Water Resources Engineer, presented an overview of the Windy Gap Firming Project and the proposed financing for the project. Staff recommends using a 20-year group financing provided by Northern Water District. Staff recommends financing the City's entire cost — no down payment. The Utility Committee will discuss this project at their meeting on February 9. Also on February 9, staff expects Northern Water District to "call" on all the participant's commitments for group financing. At that point, all participants have a three-month window to decide on group financing or self-financing. This issue will be brought back to the Finance Committee again in March for further discussion. The reports and corresponding narrative can be located in the packet of the January 25, 2021 Finance Committee Meeting. 2021 INSURANCE RENEWAL Megan Davis, Deputy City Manager, Kathleen Hix, Human Resources Director, and Dawn Burgess, Executive Administrator presented the 2021 Property and Liability insurance renewal and Workers Compensation insurance renewal. The Property and Liability renewal was prepared by Innovise Business Consultants, the City's insurance broker. Travelers, the City's current insurance provider, was the only insurance provider that was willing to quote on all lines of coverage. Staff renewed coverage with Travelers. There were notable increases in premium were seen in property, law enforcement liability, auto, and workers compensation coverages.