City Council Agenda and Packet 1974 02 05

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ti .. .• - .b P. • •FINANCE COMMITTEE MEETING JANUARY 28, 1174 Chairman Hasson opened the meeting at 7:35 p.m. Also present were Mayor Vaschak, Councilmen Del Pizzo, DMieux, and DiCarlo, City Administrator Marl , Attorney Morris, Bill Gans, Dennis Lundberg. and Percy Conarros. Bill Gans, representing the Housing Authority, presented members of the Finance Committee with request for their review and► consider- ation a budget increase in the amount of 56.530.00. - " The request also included a waiver of water and sower tap fees. as • well as water and sewer charges for I dwelling units for the elderly for 6 months amounting to $9,520.60. . Mr. Gans informed the members that Public Service taps had been applied for the S unit dwelling complex to be located between the Old Louisville Inn and Camps Auto body Shop on Front St. and if the complex is not built by July 1 . 1974 they would have to re- apply. After discussion regarding location of the complex, what the reaction of the other departments would be to increasing the budget for Mousing Authority, and the involvement of 4 variances to build, Attorney Morris advised the legal aspect to increase the budget in any way would require the City go before the State Tax Commission asking for the increase. The amount requested by the Housing Commission could not be taken from Contingency as this fund is reserved for cases of dire emergency caused by an act of God, such as flood. earthquake, etc. Administrator Hurl also advised the cash flow as low at this time of year and it would cause a hardship on the City at large to allow this. Councilman Mario made a motion that the Finance Committee recommend to Council that the request be denied until further study by the members and City Council . Seconded by Councilman Del Pizzo. All in favor. Motion carried. • Chairman Hesston advised the members of the CD's on hand and asked approval of the Committee to transfer some of them to First Federal Savings in lieu of First National . as the rate of interest is higher. Councilman DelPizzo made a motion that the Committee recommend to Council that Treasurer Hasson be allowed to transfer the CO's in question from First National Bank to First Federal Savings to obtain the higher rate of interest. Seconded by Councilman DiCarlo. All in favor. Motion carried.