YOU WERE THAT IS CITY COUNCIL'S SPECIAL CALL ME NEXT WEEK MOVE ON TO A REGULAR SCHEDULE WORK
[00:00:07]
SESSION FOR 2000. 23 JULY 5TH AND THAT THIS TIME, MADAM CLERK YOU PLEASE CALL THE ROBE.[1. Roll Call]
COUNCIL MEMBER CUTHBERT MEMBER JONES. YEAH SMITH LEE, PRESIDENT COUNCIL MEMBER MYERS COUNCIL MEMBER WESTBROOK, VICE MAYOR HILL HERE HERE NEXT VICE MAYOR HILL WILL LEAD US IN OUR OPENING PRAYER. PRAYERS, ALWAYS COMFORTING. DURING TIMES LIKE THIS. THAT IS HOME OR OUR HEARTS AND LET US PRAY. THEY HAVING TWO FATHERS ONCE AGAIN WE COME BEFORE YOU, LORD. THANK YOU FOR ALL THAT MEANING BLESSINGS THAT YOU HAVE BESTOWED UPON US. WE THANK YOU FOR THIS DAY. WE THANK YOU FOR WAKING US UP THIS MORNING STARTING US ON OUR WAY. NOW, LORD, WE ASK THAT BLESSING UPON THIS CITY HAVING A FATHER MOVING IN THE DIRECTION THAT YOU WERE HAVING TO GO HAVING THE FATHER TAKE US TO HIGHER HEIGHTS HAVING A FATHER IN YOU. THE LORD . WE ASK THAT BLESSINGS UPON THIS COUNCIL HAVING A FATHER. WE MAY NOT ALWAYS AGREE, BUT HAVING THE FATHER LET US DO WHAT IS PLEASING TO THE SITE HAVING A FATHER TO HELP MOVE THIS CITY FORWARD. LORD WE ASK A SPECIAL BLESSING UPON OUR ADMINISTRATION. OUR DIRECTORS, CITY MANAGER THEM AND THEIR FAMILIES HAVING A FATHER. WE ACCESS SPECIAL BLESSING UPON OUR FIRST WAS FOUNDERS, FIREFIGHTERS. POLICE OFFICERS. I E. M S HAVING A FATHER BE WITH THEM, STRENGTHEN THEM AND HEARD THEM UP ON EVERY LEANING SIDE. HAVING THE FATHER PROTECT THEM. LORD WE ASK A SPECIAL BLESSING UPON OUR CITIZENS HAVING A FATHER THAT YOU WOULD KEEP ALL HURT HARM AND DANGER AWAY FROM THEM HAVING A FATHER THEY THEY WOULD THAT WE ALL WILL PUT DOWN THE GUNS AND THINGS OF THAT NATURE HAVING A FATHER THAT WE WILL HAVE A SENSIBLE AND DISCUSSION TO OUR DISAGREEMENT, DISAGREEMENTS HAVING A FATHER THAT IT WILL BE NO VIOLENCE. NO SHOOTING, HAVING A FATHER LET US BE THE LIGHT THAT YOU WOULD HAVE US TO BE. WE'LL BE ABLE TO CARE FOR THEIR GIVE YOUR NAME. ALL THE HONOR ALL THE PRAISE AND ALL THE GLORY AND BLESS THIS MEETING IN JESUS' NAME, WE PRAY. AMEN.AMEN. ASKING EVERYONE, PLEASE STAND AND JOIN ME IN THE PLEDGE OF ALLEGIANCE. PLEDGE ALLEGIANCE TO THE FLAG. OF THE UNITED STATES OF AMERICA. FOR WHICH IS SAYING ONE NATION. UNDER GOD.
WITH LIBERTY AND JUSTICE FOR ALL. NEXT EXCITING FORWARD DETERMINATION, PRESENCE OF A
[4. Determination of the Presence of a Quorum]
[5. Public Comments]
QUORUM. WE DO HAVE A QUORUM. NEXT ITEM FIVE IS PUBLIC COMMENT. I DIDN'T HAVE ANYONE[6. Approval of Consent Agenda (to include minutes of previous meetings)]
SIGNED UP TONIGHT FOR PUBLIC COMMENT NEXT MOVE ON TO APPROVE OF THE CONSENT AGENDA TO INCLUDE MINUTES OF PREVIOUS MEETINGS. I AM SIX A MINUTES JUNE 20TH 2023 CLOSED SESSIONS CITY SESSION MEETING MINUTES 20. JUNE 2023 REGULAR MEETING MINUTES. ITEM BEEF FIRST READING OF THE ORDINANCE APPROVING A PETITION FOR SPECIAL USE PERMIT FOR PROPOSED MULTI FAMILY RESIDENTIAL DEVELOPMENT ON THE PROPERTY LOCATED AT 2 35 MEDICAL PARK BOULEVARD ITEMS SEE FIRST READING AN ORDINANCE TO AUTHORIZE THIS CHANGE OF REAL PROPERTY WITH THEIR STATE OF WILLIAM A PATENT. ITEM D FIRST READING AN ORDINANCE TO DIRECT THE CITY MANAGER TO REIMBURSE BOWLING BROOK PROPERTIES L C F K A MASTER PROPERTIES LFC AND WHERE THE G. BECKER THIRD AND KAREN K. BECKER FOR EXPENSES, ENCOURAGING REAL PROPERTY TRANSACTION RECORDED AN INSTRUMENT TO 02. 302112. AND ALSO WE'RE GOING TO HAVE TO ADD A ITEM E, WHICH IS A REQUEST TO CARRY OVER FY 20 TO BALANCE THE FY 2023 AND FY 2023 BALANCE TO FY 2024, INCLUDING THEIR RESPECTIVE FY 2023 PROJECT BUDGET. FOR THE PETERSBURG STATION PARKING RIDE. UM I BELIEVE THOSE ARE ALL THE ITEMS. FOR THE CONSENT AGENDA. ALL RIGHT. VICE MARY HILL. MOVE THAT WE APPROVED THEIR CONSENT AGENDA AS RED COUNCIL MYERS SECOND. MADAM CLERK, YOU PLEASE CALL THE ROLL. FOR MORE COMFORT. HE'S GONE. KALMAN JONES. MY STIFFLY, COUNCILMAN MYERS. COUNCILOR WESTBROOK SMEAR HILL PERN MOTIONS PASSED. NEXT IS ITEM EIGHT MONTHLY REPORTS. THERE ARE NO ITEMS FOR THE NIGHT. NEXUS ITEM. NINE FINANCING BUDGET REPORT ITEM A AND UPDATE ON THE[9. Finance and Budget Report]
FINANCIAL REPORT FOR THE CITY OF PETERSBURG. MR MAYOR AT THIS TIME, IF WE COULD, I'D LIKE TO HAVE MR ROSE PRESENT THE PLANE OF FINANCE FOR THE COURTHOUSE PROJECT. OKAY ALL RIGHT. AT THIS[Additional Item]
TIME, WE WILL ADD TO THIS AGENDA HERE. THE PRESENTATION AND CONSIDERATION OF THE COURTHOUSE[00:05:03]
PROJECT PLAN OF FINANCE. MR MAYOR, MEMBERS OF COUNCIL AGAIN, UM THAT STEPHEN IS ONE OF OUR SUMMER INTERNS. AND SO HE HAS HARD COPIES OF WHAT WE ARE GOING TO PRESENT. THIS EVENING. IT WILL NOT BE A LONG PRESENTATION , SO I KNOW YOU HAVE GOT QUITE A BIT IN FRONT OF YOU. DO YOU ALL HAVE A DRAFT FOR GARRETT. DIGITAL COPY. YEAH. ESPECIALLY. IT WAS, YEAH. SPECIAL PREVIOUS SPECIAL MEETING GARRETT. IT'S THE SECOND ITEM. I'LL JUST WAIT ONE SECOND IS I THINK THIS IS ABOUT TO BE PUT UP. THAT'S FROM THE OKAY? THERE IT IS. OKAY. COURTHOUSE PROJECT PLAN. UM AGAIN, DAVID ROSE WITH DAVENPORT'S GARRET PH. 66. OF THE HANDOUT THAT WE HAD FOR THE SPECIAL MEETING. HE'S GOT IT NOW, MR ALLEN. OKAY AGAIN, UM. AS YOUR FINANCIAL ADVISOR. UM WE PRESENTED BACK IN FEBRUARY. GENERAL FUND REVIEW. UM, AND AT THAT TIME WE TALKED ABOUT CERTAIN CAPITAL PROJECTS THAT, UH, YOU WANTED US TO CONSIDER, UM I POINT OUT FOR THE FOR THE FOLKS THAT ARE WATCHING THIS. WE DON'T RECOMMEND PROJECTS. IT'S Y'ALL THAT RECOMMEND THE PROJECTS. WE JUST TALKED ABOUT WAYS IN WHICH THEY COULD BE FUNDED AND WHAT THE CHALLENGES ARE TO DO SO THINGS WITH THAT SAID THERE ARE TWO MAJOR PROJECTS THAT WERE ON THE HORIZON AND CONTINUE TO BE SO THE FIRST BEING THE COURTHOUSE PROJECT. AND THE SECOND A SCHOOL PROJECT. AS THAT THIRD BULLET POINTS OUT. THE SCHOOL PROJECT APPEARS TO BE IN THE EARLY DEVELOPMENT. THERE HAS BEEN SOME TALK ABOUT GETTING SOME GRANT MONIES TOWARDS A PROJECT LIKE THAT, AND ALL OF THAT IS A TRUE WORK IN PROGRESS. UM WHAT IS FURTHER ALONG, HOWEVER, IS THE COURTHOUSE PROJECT. AND THAT'S WHY THE MAYOR EARLIER ALLUDED TO OUR TALKING TO THE RATING AGENCIES AND JUST A FEW WEEKS ABOUT MOVING FORWARD. SO IF WE GO TO THE NEXT PAGE COURTHOUSE PLANNING FINANCE. UM WHILE INTEREST RATES ARE UP OVER THE LAST 12 TO 18 MONTHS, THEY ARE STILL NEAR HISTORIC ALL TIME LOWS. THEY'RE JUST NOT ROCK BOTTOM, BUT THEY ARE VERY FAVORABLE. THAT SAID, WE ARE RECOMMENDING THAT WHILE INTEREST RATES ARE FAVORABLE AND WHAT WE CALL REINVESTMENT RATES ARE VERY FAVORABLE. AH WE BASICALLY GO OUT AND BORROW WHAT IS ROUGHLY ESTIMATED TO BE ABOUT TWO THIRDS OF THE BORROWING OR THE COST. I SHOULD SAY OF THE PROJECT PROJECT BEING IF IT'S ESTIMATED ABOUT $43 MILLION BORROW ROUGHLY $30 MILLION OF THAT. WE'RE GOING TO CALL THAT THE SUMMER 2023 BONDS. AND THAT WE WOULD BORROW THAT MONEY. AND THEN TURN AROUND AND BE ABLE TO REINVEST THE MONEY'S AT AN INTEREST RATE AT IF NOT HIGHER THAN THE COST OF THE MONEY. WHAT WE'RE ALLOWED TO DO EFFECTIVELY IS KEEP ALL OF THE EARNINGS UP TO THE BORROWING RATE. ANYTHING ABOVE THAT'S CALLED ARBITRAGE, NOT ITSELF A BAD THING, BUT THE POINT IS, WE WOULD BE ABLE TO LOCK IN FOR A LONG PERIOD OF TIME. THE COST OF MONEY, BUT WE'D BE ABLE TO EARN THE INTEREST ON THE MONEY THAT WE BORROW. OUR THINKING IS ONCE WE THEN FINALLY KNOW EXACTLY WHAT THE COST OF THIS PROJECT IS . WE WOULD THEN PROBABLY IN THE SECOND HALF OF CALENDAR YEAR 2024 OR WHATEVER THAT EXACT TIME IS. WE WOULD THEN BORROW THE BALANCE OF THE MONEY. SO WITH THAT SAID, IT'S A TWO PHASE APPROACH. HOWEVER WE WANTED YOU TO SEE AS WE'VE FACTORED IN AN ESTIMATE FOR THE ENTIRE TWO PHASES IN THE NEXT COUPLE OF PAGES, AND YOU'LL SEE WHY WE ARE POSITIVE ABOUT THIS APPROACH. SO IF YOU GO TO THE NEXT PAGE THIS IS YOUR EXISTING TAX SUPPORTED[00:10:04]
DEBT. UM IT CONSISTS OF BASICALLY THREE MAJOR CATEGORIES . IT'S THE GENERAL FUND. IT'S THE GOLF FUND, AND IT'S THE STORM WATER. NOW YOUR WATER AND SEWER. IS SEPARATE, AND THAT'S BECAUSE THAT'S WHAT WE CALL ENTERPRISE FUND AND THAT COMES FROM WATER AND SEWER, ACTUAL USER FEES. THIS THESE DOLLARS ARE WE CALLED TAX SUPPORTED. THEY COME FROM YOUR GENERAL FUND . THEY COME FROM THOSE DOLLARS THAT ARE CITYWIDE. IF YOU WERE SO WITH THAT SAID IF YOU TAKE A LOOK AT 2024 FISCAL YEAR, WHICH WERE ABOUT TO ENTER IN THE NEXT FEW DAYS. WE WILL HAVE AN ANNUAL DEBT SERVICE RIGHT NOW OF SLIGHTLY OVER $3 MILLION THAT IS BAKED INTO YOUR EXISTING BUDGET , THE ONE THAT WILL START EFFECTIVELY. JULY 1. SO THEN, IF YOU GO TO THE NEXT PAGE WHAT WE'VE DONE. IS WE HAVE LAYER DOWN. IN THAT LIGHT GREEN. PHASE ONE AS WE CALL IT, THAT'S GOING TO BE THAT 30 MILLION AND THEN WE'VE LAYERED IN ROUGHLY A YEAR LATER. PHASE TWO, AND THAT'S ROUGHLY THE OTHER 13 MILLION THAT WE'VE ESTIMATED FOR THE MOMENT NOW. I WANT TO MAKE SURE EVERYONE FOLLOWS THAT WILL NOT BE THE ACTUAL EXACT NUMBERS. IT'S AN ORDER OF MAGNITUDE.BECAUSE AGAIN WE DO NOT YET KNOW THAT THE COURTHOUSE WILL BE $43 MILLION. IT COULD BE A LITTLE LOWER. IT COULD BE A LITTLE HIGHER AND MAYBE NOT EVEN LITTLE . BUT AGAIN FOR THE MOMENT THAT WAS PROVIDED TO US BY STAFF AS AN ESTIMATE OF THE COURTHOUSE PROJECT FUNDING SO YOU'LL NOTICE HERE. IT MOVES FROM SOME 3 MILLION DEBT SERVICE UPWARDS TO SOMETHING CLOSE TO ABOUT A LITTLE OVER $5.5 MILLION. SO HOW ARE WE GOING TO PAY FOR THAT? SO NOW LET'S GO TO PAGE SIX. OKAY I'M GONNA WAIT FOR THE MAYBE THE CAMERA TO MAKE THE WHOLE PAGE FIT THERE. OKAY? SO WHAT YOU SEE HERE? YEARS, AS I SAID EARLIER A MOMENT AGO. IF INDEED, WE ADD IN PHASE ONE AND ULTIMATELY PHASE TWO OUR DEBT SERVICE WILL GROW FROM ROUGHLY ABOUT 3 MILLION TO ABOUT 5.4 ABOUT $5.5 MILLION.
IT'S GONNA TAKE A FEW YEARS FOR THAT TO GROW TO THAT LEVEL. BUT THAT WILL EQUAL ABOUT 6.4. OF YOUR GENERAL FUND EXPENDITURES. YOU CAN SEE THERE IN THE IN THE SORT OF THAT. YELLOWISH IF YOU WOULD THE GOLD WHERE PETERSBURG RIGHT NOW. IS BELOW. IF YOU CAN MOVE THAT GRAPHIC UP JUST A LITTLE BIT, I THINK WOULD BE HELPFUL. PERFECT RIGHT NOW. YOU'RE ABOUT A LITTLE OVER 4% OF EXPENDITURES AND YOU'LL MOVE TO ABOUT 6.5% OF EXPENDITURES. I THINK THE TAKEAWAY HERE IS THAT YOUR DEBT SERVICE EVEN WITH BRINGING THIS ON WILL STILL BE LOWER. THEN VIRGINIA, DOUBLE A LOCAL GOVERNMENTS, WHICH WE ASPIRE TO BE, AND CERTAINLY IT WILL BE BETTER THAN THE VIRGINIA AIDS THAT WE ARE IN THERE RIGHT NOW. SO AGAIN, IF YOU THEN MAKE IT SMALLER AND SEE THE BIG PICTURE. YOU CAN SEE THAT RIGHT NOW, EVEN WHEN WE ADD IN THAT ESTIMATED COURTHOUSE DEBT. WE ARE AT THE LOWER END. OF ALL IN DEBT SERVICE RELATIVE TO BASICALLY THE CITY'S BUDGET. NOW WE EXPECT ON TOP OF THAT. TO HAVE SCHOOL DEBT THAT'S GOING TO COME ON. AND SO THE HOPE HERE AND THE EXPECTATION IS THAT EVEN WITH BOTH OF THOSE PROJECTS, INEVITABLY WE'RE GOING TO NOT EXCEED THE CITY POLICY OF 10% AND AGAIN, YOU CAN SEE WHERE 10% IS. THAT SHOULD BE ABOUT THE MOST THAT WE'D LIKE TO SEE YOU HAVE NOW. INTERESTINGLY ENOUGH, WE WORK WITH CHESTERFIELD. THERE WAS A PERIOD OF TIME WHEN THEY DID SCHOOL PROJECTS SOME 20 YEARS AGO, THEY HAD A 10% POLICY. AND THEY WANT ABOVE THAT POLICY FOR A COUPLE OF YEARS KNOWINGLY TO LAYER IN THEIR DEBT . THAT'S POSSIBLE HERE AS WELL. BUT THE POINT WAS, THEY KNEW THAT WAS GOING TO BE FOR A SHORT PERIOD OF TIME. AND TODAY THEY'RE WELL UNDER THAT. 10% I BRING THAT UP BECAUSE AGAIN, THE GOAL IS TO TRY TO USE THAT AS A GUIDE. AND TRY NOT TO BE BEYOND THAT TO BE UNDER IF WE CAN, BUT FOR THE MOMENT WHERE CONSIDERABLY UNDER THAT WE ARE STRONG AS ANYONE IS, UH, AND
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WITH ADDING THE COURTHOUSE, WE STILL REMAIN QUITE STRONG. SO AGAIN, WE FEEL GOOD ABOUT THAT.THE OTHER IMPORTANT THING IS THE WAY YOUR BUDGETS HAVE BEEN SET UP IN THE LAST COUPLE OF YEARS.
YOU HAVE THE CASH FLOW. IF YOU CONTINUE TO WORK THE WAY YOU BE ON TO INCORPORATE THAT DEBT SERVICE THAT INCREASING ROUGHLY 2 $2.5 MILLION INTO THE SUBSEQUENT YEARS, BUDGETS AND BE ABLE TO DO THAT RESPONSIBLY AND SO AGAIN TO WHAT I THINK, COUNCILMAN MYERS SAID EARLIER.
THE KEY IS TO CONTINUE TO FOLLOW THIS PATHWAY. AND IF YOU DO AGAIN, THERE'S NO REASON WHY YOU CAN'T CONTINUE TO TAKE CARE OF THIS PARTICULAR PROJECT, AND THAT'S THE APPROACH. SO MY LAST PAGE IS JUST A TIMETABLE. WE'RE HERE TONIGHT. IT'S JULY. 5TH I'M PRESENTING THIS TO YOU ASKING THAT YOU SCHEDULE A PUBLIC HEARING. FOR JULY 26TH. A PUBLIC HEARING IS REQUIRED TO ISSUE THE BONDS FOR THE COURTHOUSE. ANYTIME A LOCAL GOVERNMENT ISSUES DEBT THAT'S THE FULL FAITH AND CREDIT. THERE IS A REQUIREMENT FOR A PUBLIC HEARING UNLESS IT GOES THROUGH SOME OTHER PATHWAY, SUCH AS, UH, SOME OTHER FORM LIKE AN IDEA, AN IDEA BUT THIS IS BEING DONE. BY YOU, AND AS A RESULT OF PUBLIC HEARING IS REQUIRED. WE ARE LOOKING AT SELLING THESE BONDS SOMETIME LATE AUGUST. UM THAT'S WHEN INTEREST RATES WE GET LOCKED IN AND THEN CLOSING SOMETIME IN MID SEPTEMBER. UNLESS SOMETHING HAPPENS THAT CHANGES THIS SCHEDULE. SO WITH THAT, SAID, MR MAYOR, I'M HAPPY TO ANSWER ANY QUESTIONS. UM APPRECIATE THE OPPORTUNITY COUNCIL UNCOVER THANK YOU, MR MAYOR. UM MR ROSE IN THE BIG SCHEME OF THINGS IN THE LAST FIVE YEARS. HOW DO YOU HOW DO TODAY'S INTEREST RATES COMPARED TO INTEREST RATES AT OTHER POINTS IN THE LAST FIVE YEARS, SO IF WE LOOK BACK JUST 12 OR 18 MONTHS AGO. THE INTEREST RATES WERE AT 60 YEAR LOWS. UM THEY WERE LITERALLY ALMOST CLOSE TO 1.5 2% BUT IF YOU LOOK BACK FIVE YEARS AGO FROM WHERE WE ARE TODAY, INTEREST RATES TODAY ARE AS GOOD IF NOT BETTER THAN THEY WERE FIVE YEARS AGO. SO IT'S WISE. I THINK YOU'RE OUT OF THE OUT OF THE MEETING HERE WHEN I MADE A COMMENT TO START WITH, AND THAT IS THAT INTEREST RATES ARE LITERALLY, UH, AS FAVORABLE WITH THIS SHORT PERIOD OF TIME AS THEY'VE BEEN INTEREST RATES ARE VERY FAVORABLE. IS THERE ANY REASON WHY THIS. THESE BONDS NEED TO BE ISSUED. UH IN AUGUST OF 2023 RATHER THAN WHEN WE ACTUALLY START TO BREAK GROUND ON SOMETHING WHICH COULD BE I DON'T KNOW WHAT 18 MONTHS FROM NOW, TWO YEARS FROM NOW, AT WHICH POINT I DON'T THINK IT'S SERIOUS, BUT THE ANSWER IS THE REASON WE'RE RECOMMENDING MOVING FORWARD RIGHT NOW IS BECAUSE IF YOU LOOK AT HISTORICALLY, INTEREST RATES ARE THEY'RE VERY FAVORABLE. WE'RE ALSO HEARING THAT THE FEDERAL RESERVE IS TALKING ABOUT WANTING TO RAISE RATES SOMETIME LATER ON NOW, MAYBE YOU'VE HEARD SOMETHING DIFFERENT, BUT THAT'S WHAT I'VE HEARD FROM THE FEDERAL RESERVE AND THEY'RE PRONOUNCING. IT SEEMS TO ME THAT YOU'RE DRIVING WAY TOO HARD TO GET THIS DONE IN AUGUST. LET ME FINISH. OH OF THAT, MR CUTHBERT, IF WE BORROW THAT MONEY WE ARE THEN ABLE TO TURN AROUND AND REINVEST THE MONEY. FOR THE NEXT YEAR AND A HALF. I KNOW YOU'RE SHAKING YOUR HEAD, BUT THAT'S WHAT WE'RE ABLE TO DO. WELL, THAT THAT DOESN'T MAKE SENSE TO ME TREMENDOUS SENSE BECAUSE BECAUSE IF INTEREST RATES GO UP BETWEEN NOW AND THEN WE WILL BE LOCKED INTO HIGHER RATES ON THE ENTIRE BORROWER. HOWEVER. TO YOUR POINT IF WE BORROW ROUGHLY HALF OR TWO THIRDS OF IT RIGHT NOW, AND INTEREST RATES GO DOWN, THEN THE SECOND PART OF THE BORROWING WE GET TO BORROW AT THAT MORE FAVORABLE RATE. SO WE'RE BASICALLY GETTING AN OPPORTUNITY TO LOCK IN WHAT IS RIGHT NOW FAVORABLE RATES. BUT IF RATES GO EVEN LOWER A THIRD OF THAT MONEY OR THEREABOUTS, WE CAN BORROW EVEN LOWER. BUT IF RATES GO EVEN HIGHER, WE'VE AT LEAST LOCKED IN TO A GOOD PORTION OF MONEY. NOW THAT SOUNDS LIKE A LOT OF SPECULATION TO ME, MR ROSE, AND THAT'S NOT GOOD FINANCIAL POLICY . I'M SORRY. LET ME GO BACK TO MY QUESTION. WHEN WILL WE ACTUALLY NEED THIS MONEY? I WILL DEFER TO MR ALTMAN ON THAT. SO WE WILL GO TO RFP IN AUGUST FOR DESIGN, ANTICIPATING A NINE
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MONTH 12 MONTH MAXIMUM OF DESIGN TIME, SO NEXT TIME THIS YEAR, WE WILL BE GOING TO BID FOR CONSTRUCTION IN THE AUGUST SEPTEMBER TIME FRAME. AND WE'RE ALREADY INCURRING COSTS TODAY THAT WE COULD USE THE BOND PROCEEDS TO PAY THOSE COSTS AS OPPOSED TO PAYING THEM OUT OF POCKET. MR ROSE. UH WHAT INTEREST RATE DO YOU ANTICIPATE THAT WE WOULD INCUR? IF WE ISSUED THE BONDS IN AUGUST, AND IF WE TURNED AROUND AND IMMEDIATELY PUT THAT MONEY TO WORK BECAUSE WE DON'T HAVE ANY IMMEDIATE NEED FOR IT. UM WHAT INTEREST RATE DO YOU THINK WE WOULD RECEIVE? THINK WE WILL LOOK AT AN INTEREST RATE OF COST OF MONEY, PROBABLY ABOUT 4.5% FOR THE MOMENT RIGHT NOW. AND WE COULD IMMEDIATELY TURN AROUND AND EARN 5.5% ON THAT MONEY GOING THROUGH THE STATE PROGRAM THAT'S RUN BY THE LOCAL GOVERNMENT INVESTMENT POOL, WHICH IS NOTHING MORE THAN UNITED STATES TREASURIES THAT'S BEEN RUN BY THE STATE TREASURER'S OFFICE FOR SOME 45 YEARS, CALLED THAT'S CALLED THE LOCAL GOVERNMENT. INVESTMENT POOL. THEY HAVE SEVERAL BILLION DOLLARS OF LOCAL GOVERNMENT MONEY. THERE IS NO SAFER VEHICLE THAN THAT. WE DO NOT MANAGE THAT AGAIN. IT'S US TREASURIES. SO FROM THAT PERSPECTIVE AND THAT MONEY I WOULD ADD. MR CUTHBERT IS AVAILABLE LITERALLY OVERNIGHT , MEANING IF THE CITY ASKED FOR THAT MONEY AT NINE O'CLOCK IN THE MORNING. IT'S POSSIBLE THAT MONEY COULD BE AVAILABLE AS EARLY AS NINE O'CLOCK THE NEXT DAY. THAT'S WHAT WE MEAN BY IMMEDIATELY. LIQUID MAY TAKE 30 HOURS, BUT EFFECTIVELY THAT'S WHAT WE MEAN BY READILY. LIQUID MONEY'S ALL RIGHT. WELL THAT RAISES TWO INTERESTING QUESTIONS . ONE WHAT IS ALL UNDERSTAND? FUND BALANCE TODAY, APPROXIMATELY 30 MILLION OVER 30 MILLION OVER 30 MILLION HOW MUCH OF THAT IS NOW INVESTED AT 5.5% YOU ASKED ME THAT THE LAST TIME I DON'T WORK WITH THE TREASURE ON THIS, SO I DO NOT KNOW THE ANSWER TO THAT. WELL, I CAN PRETTY WELL YES. BUT LET ME LET ME SUGGEST THIS WHEN YOU DO THIS BORROWING THE RECOMMENDATION FROM YOURS TRULY AS YOUR FINANCIAL ADVISOR. YOUR RECOMMENDATION AS YOUR FINANCIAL ADVISOR TO THE TREASURER. WILL BE ABLE TO INVEST THE BOND PROCEEDS WILL BE TO PUT IT. IS WITH THE STATE, WHICH WE ALL CALL IT'S CALLED CALLED SNAP PROGRAMS. IT'S THE LOCAL GOVERNMENT INVESTMENT POOL FOR BORROWED MONIES STATE NON ARBITRAGE PROGRAM AND ALSO THAT MONEY. THOSE SNAP MONIES ARE IN GOVERNMENT OBLIGATIONS. US GOVERNMENT OBLIGATIONS SO THOSE MONEYS ARE EARNING NORTH OF 5. ALRIGHT FOR HOW MANY YEARS HAVE YOU HAS DAVENPORT'S BEEN OUR FINANCIAL ADVISOR? UM, WE'VE DONE SOME WORK GOING BACK WITH YOU. I MADE A REPORT BACK IN 2012. AH I DID A REPORT IN 2016 , AND WE'VE WORKED SINCE THEN.HMM WHY HAS DAVENPORT'S NOT PREVIOUSLY RECOMMENDED TO US THAT WE TAKE OUR UNDERSTAND FUND BALANCE OR SUBSTANTIAL PART OF IT? AND PUT IT IN THE STATE. PROGRAM THAT. IS PAYING 5.5% YOU'RE PRESUPPOSING DON'T APPRECIATE THAT. WHERE DO YOU COME OFF, SAYING I DID NOT DO THAT. WHAT DID YOU DID YOU COME OFF, SAYING THAT? WELL I THINK ABOUT A YEAR AGO WE HIT MR CUTHBERT. LET ME JUST TELL YOU RIGHT NOW, OKAY? YOU HAD NO MONEY. YOU HAD NEGATIVE MONEY FOR YEARS, SO YOU COULDN'T TURN AROUND AND INVEST THAT MONEY NUMBER ONE NUMBER TWO? NO, NO, NO, NO, IT MY TURN. NUMBER TWO WHEN YOU HAD MONEY. THAT IS THE TREASURER'S PREROGATIVE. WE ARE NOW TALKING ABOUT BORROWING MONEY. THERE'S A DIFFERENCE AND THE BORROWING MONEY THAT WE'RE TALKING ABOUT. YOU'RE SHAKING YOUR HEAD. WE ARE TALKING ABOUT BORROWING MONEY. AND THE BORROWING MONEY THAT WE'RE TALKING ABOUT. WE ARE GOING TO MAKE A SUGGESTION. BUT IT IS NOT IT'S WE CANNOT TELL THE TREASURER WHAT TO DO. HOPEFULLY THE TREASURER WILL AGREE WITH US THAT THAT MONEY SHOULD BE INVESTED WITH THE STATE TO THE STATE NON ARBITRAGE PROGRAM. I'M HOPEFUL IT'LL HAPPEN. SO THAT'S OUR HOPE. NOW AS FOR YOUR UNASSIGNED, FUN, BALANCED MONEY'S. THAT'S WHY WE'RE TALKING ABOUT ON THE PREVIOUS PRESENTATION. FOR THE FINANCIAL POLICIES TO HAVE THE TREASURER SIT AT THE TABLE IN THE FINANCE COMMITTEE THAT WE'RE RECOMMENDING PUTTING TOGETHER THAT IS HOPEFULLY NOW GOING TO HAPPEN, AND THEN WE CAN TALK WITH THE TREASURER ABOUT HOW THOSE MONIES ARE BEING INVESTED. AND POSSIBLY TO RECOMMEND THAT THE LOCAL GOVERNMENT INVESTMENT POOL, WHICH IS DOING VERY WELL WOULD BE PART OF THE INVESTMENTS
[00:25:06]
. UH, FOR THE CITY OF PETERSBURG. I'M SHAKING MY HEAD BECAUSE I REMEMBER TALKING WITH EITHER YOU OR THE OTHER GENTLEMAN WHO'S OFTEN WITH YOU ABOUT INVESTING ARE UNASSIGNED TO FUND BALANCE, AND I WAS TOLD THAT IT COULDN'T BE DONE THAT THERE WERE STATE RESTRICTIONS.UH AND IT NOTHING HAPPENED. AND THEN I'M DELIGHTED THAT YOU FOUND A WAY TO DO IT. BUT UH, IT SHOULD HAVE BEEN DONE A LONG TIME AGO. AGAIN I'M NOT SURE IN FAIRNESS AND I'LL BE HAPPY.
ROLAND COACH I THINK YOU'RE TALKING ABOUT MR CUTHBERT IS ON VACATION THIS WEEK, BUT THERE MAY HAVE BEEN A WE'RE PROBABLY WEREN'T SAYING THE SAME THING. WHEN IT CAME TO SAYING THERE'S RESTRICTIONS. IT COULDN'T BE DONE. NO THIS PROGRAM FOR ELEMENTS OF YOUR UNASSIGNED FUND BALANCE THAT YOU DON'T NEED TO PAY BILLS WITH. UM CAN BE INVESTED ANY NUMBER OF WAYS BUT CERTAINLY THEY CAN BE AND HAVE BEEN ABLE TO BE INVESTED THROUGH , UH, THE STATE TREASURER'S OFFICE STATE. THEY HAVE BEEN ABLE TO BE DOING THAT WAY. WELL, ONE THING THAT GOOD THAT'S COME OUT OF OUR DISCUSSION IS THAT IT'S CLEAR THAT WE CAN. NOW THERE IS A WAY FOR US TO EARN MONEY ON THE UNDERSIDE FUND BALANCE THAT IS NOT NEEDED FOR THE PAYMENT OF BILLS. YES SIR.
ABSOLUTELY THANK YOU. THANK YOU, MR MAYOR. THANK YOU. COUNCILOR MYERS. YES. MR MAYOR. WELL I THINK WHAT I WANTED TO SAY THAT, UM THERE HAVE BEEN SOME RUMBLINGS AROUND AND OF COURSE ON FACEBOOK AND I'M SURE MISS JOINED WILLIAMS CAN CONFIRM IS THAT, UM, WE'RE SPENDING THE CITY'S TAX MONEY BUILDING A NEW COURT BUILDING, WHICH IS UNNECESSARY. BUT I WANT TO MAKE SURE THAT IT IS CLEAR AND FOR THE PUBLIC TO UNDERSTAND THAT THE COUNCIL IS MANDATED TO DO SO BY THE COURTS. AND SO, UM WE HAVE BEEN WORKING DILIGENTLY ALONG WITH THE CITY MANAGER IN ORDER TO MEET THE OBLIGATIONS IN WHICH WE HAVE TO OBLIGE BY SO THANK YOU, MISTER. OKAY? YEAH GOOD. MR. YOU. YES MR MAYOR. THERE IS A PUBLIC HEARING YOU HAVE SCHEDULED FOR THE BOND RESOLUTION. HOWEVER THE MANAGER HAD PLACED A RESOLUTION IN THE SPECIAL MEETING PACKAGE THAT HE'D ASK IF COUNSEL WOULD CONSIDER SUSPENDING THE RULES AND ADOPTING SIMPLY SYMBOLIZING YOUR APPROVAL OF THE OVERALL PLAN FOR A FINANCING. ALRIGHT UNDERSTAND THE MOTION NOW TO SUSPEND THE RULES OF COUNCIL. MOVED VICE MAYOR HILL SECOND ALL IN FAVOR IN A POST. NO ALRIGHT AGAIN. WE NEED TO KNOW WHAT WE'RE DOING BEFORE WE DO IT. THIS HAS COME LIKE A ROCKET SHIP. UH, EVEN APPARENTLY, DEVENPORT DIDN'T EXPECT US TO BE VOTING TONIGHT. ACCORDING TO THIS BONDS, TIMELINE, WE REALLY NEED TO SLOW DOWN. LOOK OUR SALARIES JUST DOUBLED. JUST DOUBLED, EFFECTIVE JULY 1. CLEARLY. WE CAN TAKE THE TIME. THIS HAS NOTHING TO DO WITH THE TIME AND THAT TENDS TO STAND WHAT IT IS. WE'RE DOING BEFORE WE DO IT. AND THE MOTION IS CARRIED. SO IT NOW WE'RE ADDING FROM THOSE SPECIAL CALL MEETING. WE WILL ADD THE PRESENTATION AND CONSIDERATION OF THE RESOLUTION FOR THE COURTHOUSE PROJECT PLAN OF FINANCE. TO THIS CURRENT MEETING. SO MOVED COUNCILOR WESTBROOK. SECOND ALL RIGHT. NEXT. MADAM CLUB. YOU PLEASE CALL THE ROLL. COUNCILOR MECHANICSBURG COUNCIL MEMBER JONES STAYING AND I THINK IT'S IMPORTANT. WHEN ANY COUNCIL MEMBER HAVE SOMETHING TO SAY WE SHOULD TAKE INTO CONSIDERATION BECAUSE HE'S NO DIFFERENT THAN ANYBODY UP HERE. AND I'M LEARNING STILL SO HE MAY HAVE QUESTIONS THAT I CAN LEARN FROM, WITH ALL DUE RESPECT TO MR DAVENPORT INTO THE PEOPLE SO HE'S NO DIFFERENT THAN ANY OTHER. ANY OF YOU GUYS DOWN HERE. SO I THINK IT'S FAIR.
WHETHER WE LIKE IT OR NOT. LET HIM GET IT OFF HIS CHEST. WITH ALL DUE TO MR DAVENPORT'S, BECAUSE I MAY BE THE SAME BOTH, AND THEN YOU MAY BE IN THE SAME BOY. SO I'M GONNA STAIN FROM IT.
COUNCIL MEMBER SMITH LEE I. COUNSEL NUMBER MYERS NUMBER WESTBROOK, VICE MAYOR HILL HIGH PERM. HI PAST AND JUST FOR THE RECORD. THIS IS THE PRESENTATION THAT'S BEEN SCHEDULED AND EVERYBODY KNOWS THAT WE'VE WE HAVE BEEN TALKING ABOUT BUILDING A COURTHOUSE NOW FOR HOW LONG? SO IT'S 2015 TO SIT HERE AND SLOW DOWN THE PROCESS THAT WE KNOW WE HAVE TO DO WHEN WE HAVE OUR BOND COUNCIL HERE WHO IS WHO IS GOING DOWN THE LIST OF THINGS THAT NEED TO HAPPEN TO GET THERE
[00:30:05]
. THIS IS SOMETHING THIS IS SOMETHING TO KILL. KILLED DOING WHAT THE COURTS HAVE. I DO HAVE ORDAINED SO EVERYONE THAT VOTES AGAINST THIS YOU'RE GONNA HAVE THE ANSWER TO THE JUDGES ON WHY YOU CAN'T CAN'T GET THIS MEET THE OBLIGATIONS OF THIS MANDATE AND COSMO COVER REVENUE SAID HERE WE HAD SEVERAL MEETINGS TALKING ABOUT WHAT NEEDS TO HAPPEN AND GET IN THIS COURT COMPLEX DONE. AND NOW TO HAVE AMNESIA UP HERE TALKING TO MR ROSE ABOUT WHAT ARE THE FINANCIAL OBLIGATIONS OF THE CITY. AND WHY ARE WE DOING THIS? AND WHY ARE WE DOING THAT JUST TO NITPICK TO VOTE AGAINST THE CITY, MOVING FORWARD AND GETTING THINGS DONE? WE HAVE UP HERE TO GET THINGS DONE. IF YOU HAVE QUESTIONS YOU MEET AND HAVE YOUR QUESTIONS. YOUR QUESTIONS ANSWERED BEFORE THE MEETING. YOU HAVE A CITY MANAGER THERE THAT HE WAS IN HIS OFFICE THIS MORNING AND YOU COULD HAVE ANSWERED, ASKED ALL THOSE QUESTIONS NEEDED BEFORE THIS MEETING. THERE'S NO NEED TO SIT HERE AND CONTINUE TO GRANDSTAND IN FRONT OF THE PUBLIC DOING NOTHING. BECAUSE DOING NOTHING THAT'S ABSOLUTELY RIDICULOUS THAT WE HAVE A CITY THAT'S JUST COMING OUT OF FINANCIAL TURMOIL . AND THEN HERE IT IS. WE'RE TRYING TO CATCH UP TO GET THINGS DONE. AND WE JUST WANT TO PLAY LIKE OH, THIS IS JUST A GAME HERE. I'M JUST GONNA BE AGAINST EVERYTHING TONIGHT. IT IS ABSOLUTELY ABSURD. SO IF YOU SO EVERYONE IS TALKING ABOUT MOVING THE CITY FORWARD. THIS IS THIS IS THIS IS ONE RIGHT HERE FOR THE NOTEBOOK RIGHT HERE, BILL, AND I'M GLAD I'M GLAD YOU'RE HERE TO SEE THIS. THIS IS TIME AND TIME AGAIN. WHAT GOES ON IN THE CITY OF PETERSBURG MY WHOLE LIFE AND BEING HERE. WE'VE ALWAYS HAD PEOPLE SITTING UP ON CITY COUNCIL TRYING TO SLOW UP AND KILL THINGS AND KILL THINGS JUST BECAUSE I GOT THE RIGHT TO DO IT. I GOT THE RIGHT TO TAKE MY TIME AND MAKE THE CITIZENS SUFFER, AND IT IS ABSOLUTE CRIMINAL. WHAT WHAT THESE COUNCILS HAVE DONE IN PREVIOUS YEARS, AND I'M NOT GONNA SIT HERE AND BE A PART OF THIS FOOLISHNESS AND 2023 WHEN YOU KNOW WHAT LED TO THE WHOLE ECONOMIC COLLAPSE HERE OF THE CITY. IT IS CRAZY. MR I'M SAYING IT'S TIME TO STOP PLAYING GAMES COUNCILMAN COVER WITH WITH THIS THING. THIS IS SERIOUS. THIS IS SERIOUS BUSINESS AND YOU WERE ELECTED HERE TO DO THE WORK OF THE PEOPLE NOT SIT HERE AND TRY TO VOTE AGAINST AND CHALLENGE EVERYBODY WHO'S TRYING TO HELP US IN THE CITY. MR ROSE'S ISN'T HERE JUST TO BE STANDING HERE IN FRONT OF US GUESSING AT THINGS HE'S BEEN DOING THIS FOR DECADES. AND SO MANY YEARS, PETERSBURG CITY COUNCIL HAS ALWAYS BEEN THE CITY COUNCIL THAT I AM THE SMARTEST PERSON UP HERE. I CAN'T. I CAN'T GO ALONG WITH THAT. YOU CAN'T TELL ME NOTHING. BECAUSE BECAUSE I KNOW WHAT ALL MYSELF AND WE'VE HAD PLENTY OF PEOPLE WHO DIDN'T KNOW NOTHING. I DON'T SEE NOBODY UP HERE WHO HAS A DOCTORATE. IF FINANCE HERE. TO BE ABLE TO QUESTION DAVENPORT'S AND WHAT WE NEED TO DO TO BUILD THIS CITY FINANCIAL PORTFOLIO TO GET THINGS DONE HERE, AND IT IS ABSOLUTELY ASHAMED THAT TIME AND TIME AGAIN. THIS MAN DAVID ROSE HAS GOT IT. THE CHESTERFIELDS OF THE WORLD THAT HERE RIGHT GOES OVER WHERE EVERYBODY'S WHO'S WHO HAS PROGRESSING AND WHEN IT'S TIME FOR COUNT FOR COUNCIL PETERSBURG TO COME TOGETHER TO IMPLEMENT ALL NEIGHBORING LOCALITIES THAT ARE MOVING IN THE RIGHT DIRECTION. WE'RE GONNA SIT HERE AND NITPICKING ABSTAIN AND SAY NO, I'M NOT. I DON'T FEEL LIKE WE SHOULD GO ALONG WITH IT. YOU'RE SITTING HERE ON THIS COUNCIL TO DO YOUR HOMEWORK. YOU GOT TO GO AND DO YOUR HOMEWORK BEFORE YOU GET HERE AND NOT MAKE A MOCKERY OF THE CITY'S BUSINESS. IT'S ABSOLUTELY ABSURD. AND FROM THIS DAY ON. I WILL NOT BE HAVING MEETINGS UP HERE JUST TO PLAY GAMES RIGHT HERE IN FRONT OF THE PUBLIC AND NOT GET THINGS DONE. IT IS ABSOLUTELY CHILDISH, AND IT'S ABSOLUTELY IGNORANCE AT HIS HISPANICS. AND I'M TELLING YOU. NEVER AGAIN AND ON THIS POINT IN TIME I WANT I WANT A MOTION FROM[Executive Session]
THIS COUNCIL FOR PERSONNEL ISSUES. WE NEED TO HAVE A TALK RIGHT NOW. IN CLOSED SESSION, I NEED TO GO TO CLOSED SESSION. ABSOLUTELY MOTION OF A SECOND, MADAM CLERK CALL THE ROAD.COUNCIL MEMBER, CUTHBERT. AH! REMEMBER JONES UP MEMBER SMITH LEE HIGH COUNCIL MEMBER MYERS MEMBER WESTBROOK, VICE WILLIAMS. YES THE MAYOR WOULD ENTERTAIN A MOTION TO CONCLUDE THE CLOSED SESSION CALLED TODAY AND CERTIFYING ACCORDANCE WITH 2.2 37 12, DAKOTA, VIRGINIA. THE ONLY THOSE MATTERS FOR WHICH THE CLOSED SESSION WAS PROPERLY MOTION WAS PROPERLY MADE WERE DISCUSSED. ANY MEMBER BELIEVES THAT THERE WAS A DEPARTURE FROM THE FOREGOING HIS SHALL SO STATE FOR THE RECORD IDENTIFYING THE SUBSTANCE OF DEPARTURE, WHICH HE BELIEVES HAS OCCURRED. THIS REQUIRES A ROLE CALLED OUT. COUNCILOR BUYERS. VICE MAYOR HILL SECOND. RIGHT MADAM GLENN, WOULD YOU PLEASE CALL THE ROLL? ROBERT? REMEMBER JONES SMITH LEE COUNCIL MEMBER MYERS NUMBER WESTBROOK, VICE MARY HILL. WE'RE BACK IN OPEN SESSION. NEXT IS, UM ITEM. 10 CAPITAL PROJECTS
[11. Utilities]
[00:35:08]
UPDATE. THERE'S NO ITEMS TONIGHT , UM, ITEM 11 UTILITIES WITH A PRESENTATION UPDATE FROM JMT ON POOR CREEK. THANK YOU. THANK YOU, MAYOR. COUNCIL ALRIGHT. GOOD EVENING. THANK YOU JUST KINDA UPDATE YOU AGAIN ON THE ACTIVITY HAS BEEN GOING ON WITH THE POOR CREEK INFRASTRUCTURE.SOUTH SOUTHEAST INFRASTRUCTURE IMPROVEMENTS PROGRAM. AH SOMETIMES REFERRED TO AS POOR CREEK. JUST TO REFRESH EVERYONE'S MEMORY ABOUT THE PROJECT IS WHERE THEY GOT ABANDON THE ONE NEW ONE SEWAGE FORCE MAIN BUILDING NEW, LARGER FORCE MAIN REHAB. THEY EXPAND THE WASTEWATER PUMPING STATION BUILD A NEW WATER BOOSTER PUMPING STATION. BUILD A NEW WATER TRANSMISSION. MAIN DOWN SOUTH CREATE A ROAD. AND THEY KNEW WATER STORAGE TANK WHICH WILL BE OVER NEAR THE IMPACT SITE. ALL THIS IS TO SUPPORT THE PHARMACEUTICAL INDUSTRY ACTIVITY AS WELL AS FUTURE DEVELOPMENT AND RELIEVE THE EXISTING CONDITIONS THAT ARE IN THE POOR CREEK, PARTICULARLY IN THE SEWER AREA. ALLOWING THAT TO, UH, WE'VE BEEN SOME VIOLATIONS OVER THE YEARS AS YOU KNOW, AND THIS WILL RELIEVE THOSE NEXT SLIDE, PLEASE. SO I KNOW THIS IS DIFFICULT TO READ AGAIN. BUT THE I'VE HIGHLIGHTED THE IMPORTANT THINGS THERE THAT ARE AND YELLOW AND I JUST WANT TO SAY WE HAVE A COUPLE OF REPORTS COMING UP THAT ARE DUE FOR SOME OF OUR GRAND ACTIVITIES. UH ECONOMIC DEVELOPMENT GRANT, WHICH IS ONE THAT'S PAYING FOR THE WATER STORAGE TANK. UH THROUGH IDEA. YEAH. AND THE DEPARTMENT OF COMMERCE. UM WE HAVE A COUPLE OF REPORTS COMING UP THIS WEEK FOR THAT THAT ACTIVITY TO SHOW PROGRESS SHOW THEM OUR PROGRESS THAT'S BEEN MADE ON THE PROJECT SINCE THEIR FUNDING IT AND THEN WE HAVE SOME ONGOING MEETINGS WITH VIRGINIA APARTMENT HEALTH COMING UP AGAIN NEXT WEEKEND WITH THE EQ. JUST TO REEMPHASIZE THAT THEY'RE DOING A GREAT JOB OF HELPING US NEVER SEEN SUCH COOPERATION FROM THE STATE ON THE PROJECT. KUDOS TO ALL THOSE GUYS GIRLS. AND WE'RE STILL WAITING ON HEARING BACK FROM SOME GRANT FUNDING THAT WE SUPPOSEDLY SUBMITTED TO CONGRESSIONAL REDIRECTED FUNDS.
FOR INFILTRATION PROJECTS AND SOME OTHER THINGS OF IMPORT CREEK THAT WILL RELIEVE ARE ALSO RELIEVE SEWER IN POOR CREEK AREA. WHICH WILL BE A GOOD THING. THEN THE. WE'RE TRYING TO CLOSE ON AN E P A GRANT THAT WE'RE WE'RE WE'VE BEEN AWARDED AND THEN PROCESS OF BEING CLOSED WITH MISS WILLIAMS. UH HUH. AND IT AND WE'VE GOT THE BECAUSE OF WATER. MAIN ENFORCEMENT WILL BE WHAT THE SEWER FORCE MAY WILL BE ON. CRATER ROAD BETWEEN THE TWO CEMETERIES WHERE WHERE WORKED ON A BURIAL ABATEMENT PLAN. AH SO THAT CAN BE TAKEN CARE OF IN CASE THEY FIND ANYTHING IN THE ROAD UNLIKELY AS IT MAY BE. AND, UH, AND THERE WILL BE A JOINT PERMIT APPLICATION MADE FOR THAT PART, TOO. FOR ANY WETLANDS, DISTURBANCES AND THINGS SO ALL THOSE ARE IN PROGRESS AND MOVING ALONG. AS YOU CAN SEE, I'VE HIGHLIGHTED SOME DATES THERE. SO JUST IN A IN A MORE NARRATIVE FORM THE, UH DESIGN IS PROGRESSING WHERE WE GOT SOME UPCOMING ACTIVITIES SURVEYING AS IS GOING ON, WE HAVE THE TWO ENGINEERING FIRMS WORKING AMERICAN ENGINEERING IS DOING THE WATER PROJECT AND TIMMINS IS DOING THE WASTEWATER PROJECT. BUT THEY'RE BOTH SURVEYING IS NEARING COMPLETED. THEY GET SOME MINOR CLEANUP THEY'RE STILL DOING BUT THEY'RE WORKING AWAY.
WE'VE ALREADY RECEIVED 30% PLANS AND 60% 0.30% PLANS ON THE WASTEWATER. PUMPING STATION AND THEN 60% OF THE WATER PUMPING STATIONS. 30% TO 60. WE SEE 30% ON THE WATER PUMPING STATIONS 60% ON THE SEWAGE PUMPING STATION. AND, UH, THE OTHER PLANS OF BECOMING IN NEXT WEEK 60% TOTAL. AND WITH THOSE WILL GET NEW ESTIMATES AND FOR CONSTRUCTION, THAT WILL BE MUCH MORE ACCURATE THAN ANYTHING WE'VE HAD TO DATE. BECAUSE THE PLANS WILL BE AT 60% DESIGN WILL BE ABLE TO GET GOOD GOOD NUMBERS , SO SOME OF THE CONTRACT HIGHLIGHTS THAT JUST REMIND YOU OF AS A WE ARE STILL GOING OUT FOR BID IN NOVEMBER OF THIS YEAR . THIS THING IS MOVING FAST AND FURIOUS, AND, UH, AND IT'S GOING TO BE READY FOR BID. UH WE'RE REVIEWING WEEKLY PROGRESS. WE HAVE, UH MEETINGS TO REVIEW WITH ENGINEERING FIRMS AND WHAT CITY STAFF AH, BEING VERY RESPONSIVE TO ALL THE ALL THE ISSUES. UM AND WE'VE GOT LIKE THAT THE PLANS FOR THE WATER MAIN AND FORCED MAIN WE'VE GOT 60% ON BOTH OF THOSE AND THEY'RE MOVING AHEAD. AND SO WE HAVE PRETTY GENERAL ALIGNMENT ABOUT WHERE THE WHERE THE PIPE IS GOING TO BE PROPOSED. AND AS SOON AS
[00:40:04]
WE'RE GOING TO REVIEW THOSE THIS WEEK AND GET THEM BACK AND WILL BE, UH AND REALLY GOOD SHAPE TO KNOW EXACTLY WHERE THE PIPE'S GONNA GO. SO, UH, THE BOTTOM LINE. THERE IS WE'RE ON SCHEDULE AND ON BUDGET STILL AND, UH, THE NEXT SLIDE, AND THIS IS JUST THE GENERAL SLIDE ON THE SCHEDULE.AND IT SHOWS THE VERTICAL LINE THERE BETWEEN THE 2ND AND 3RD QUARTER. IS TODAY. AND SO WE'RE SEEING EVERYTHING IS, UH EVERYTHING IS PROGRESSING. THE NEXT MAJOR MILESTONES ARE GOING TO BID. AND, UH AND IN NOVEMBER. THESE CAN BE AWARDED CONTRACT DATES IN DECEMBER. SO THAT WILL UH HUH. WHERE WE'RE MOVING RIGHT AHEAD. I HAVE A MORE DETAILED SCHEDULE IF ANYONE WOULD LIKE TO SEE IT, BUT I DON'T THINK WE REALLY NEED TO SEE IT. BUT I DO HAVE ONE IF YOU WANT TO. SEE THE DETAILS, BUT ON TIME ON SCHEDULE. AND THINGS ARE LOOKING GOOD. THIS IS DETAILED SCHEDULE WOULD HAVE TO ZOOM IN. IF YOU WANT TO SEE ANY DETAILS. THIS IS THE WASTEWATER PROJECT IN THE SHOWS A LOT MORE DEEP. THIS IS THE SAME SCHEDULE IS JUST THE OTHER ONES ROLLED UP WHAT WE CALL IT SO ALL THE MAJOR CATEGORIES ARE SHOWN. THE MINOR CATEGORIES ARE GONE. BUT THIS IS, UH THE NEXT SLIDE IS THE WATER PROJECT. SO IT SHOWS THE SAME THING. CONSTRUCTION STARTING IN THE EARLY 2024. JANUARY. WITH THE LIGHTS IN THE BIDS AND BIDS WILL BE IN NOVEMBER. OCTOBER. THANK YOU ANY QUESTIONS? REMEMBER THE COUNCIL. UH COUNCILOR JONES? YES, SIR. I JUST WANT TO SAY THANK YOU FOR BEING ON TIME AND ON SCHEDULE. WE TRY AND IT'S BEEN A REALLY GOOD EFFORT BETWEEN THE REGULATORY AGENCY CITY STAFF, THE TWO ENGINEERING FIRMS. WE'RE ALL TRYING TO HOLD IT TOGETHER, BUT IT'S UH IT'S DOING A GOOD JOB. ALRIGHT. UM CAN YOU GIVE GIVE ME ANY BACKGROUND ON THE WATER TOWER? BECAUSE I KNOW THERE WAS A BIG PIECE THAT WE WORKED A LOT ON DO. DO WE HAVE ANY PROJECTIONS ON IS THAT GONNA BE A PART OF THE FIRST PHASE OF THIS LATTER PHASE SINCE THE WATER TOWER AS SOMEWHAT OF AN INDEPENDENT STRUCTURE ON THE EXISTING PIPELINE, IT WILL BE BIT AS A SEPARATE PROJECT. AND IT'S FUNDED SEPARATELY THROUGH THE DEPARTMENT OF COMMERCE THROUGH E D. A GRANT. AND SO WE'RE HANDLING THAT ONE SEPARATELY IN THE 60% PLANS ON THAT WE SHOULD HAVE BY THE END OF THIS WEEK. AND WE WERE THE PROPERTY. UH THE OWNER OF THE PROPERTY HAS SIGNED PLATZ OVER EVERY CITY SIGNED PLANTS. I THINK THEY JUST NEED TO BE RECORDED NOW. CITY STAFF IS MAKING ARRANGEMENTS TO HAVE A FENCE PUT IN RIGHT NOW SO WE CAN FENCE OFF THE NEW PROPERTY THAT THE CITY OWNS. SO THAT THEY CAN HAVE ACCESS TO IT. THAT'S RIGHT. ON THE END OF THE FRONTAGE ROAD ON THE OF NORMANDY BACK TO FRONT EDGE. RIGHT NEAR TO WRITE WITH THEIR 95. AND THAT CALLED THE SACK AND SO IT'S GOING TO BE IT'S MOVING ALONG THE GEO TECHNICAL, UH FIRM THAT WAS GOING TO TAKE. WE HAVE TO TAKE SOIL BOARDINGS ABOUT 100 FT. DEEP. TO GET TO MAKE SURE WE NEVER HAVE A FOUNDATION TO BUILD THIS TANK ON THIS VERY IMPORTANT AND, UH, THERE WAS AN ISSUE THAT WAS THOUGHT TO BE AN ISSUE WITH THE LONG YEARS BACK, BUT WE GOT A LETTER WHILE I WAS SITTING HERE FROM THE DEPARTMENT OF WILDLIFE AND SAY WE'RE WHERE THE LONG YEAR BAD IS NOT AN ISSUE FOR US FOR BASED ON OUR APPLICATION, SO WE'RE DOING, GEO TECH. THIS UH, MAYBE MAYBE THIS WEEK SAYING IS SCHEDULED FOR FRIDAY, BUT IT MAY BE SLIPPED MONDAY. BUT THEY'LL GET OUT THERE AND TAKE YOU TECH BORING SO WE CAN START PLAYING DESIGNING THE FOUNDATION. THE REST OF THE TANK IS PRETTY MUCH COMPLETE. WE JUST NEED TO FINISH THIS. DO YOU TAKE EFFORT? OKAY THANK YOU. UM MR WALDMAN. I JUST WANT TO ADD THE ONE THING THAT WE DON'T REALLY TALK ABOUT. BUT WE'VE HAD SEVERAL MEETINGS WITH D E Q. U AND DEPARTMENT OF HEALTH REGARDING STREAMLINING THE PAYMENT AND REIMBURSEMENT PROCESS WERE REIMBURSED OR AS QUICKLY AS POSSIBLE OR SO WE'RE WORKING ON THAT VERY, VERY DILIGENTLY TO MAKE SURE THAT WE'RE NOT CARRYING A PROJECT FOR A LONG TIME. WE'RE GETTING OUR REIMBURSEMENT BACK TIMELY. SO WE'VE BEEN SPENDING A LOT OF TIME WITH THEM. WE HAVE A WEEKLY PHONE CALL WITH THE Q AND B D. H IN ADDITION TO OUR WEEKLY MEETING. THAT WE HAVE ON THE PROGRESS OF THE PROJECT, SO WE ARE VERY MUCH COMMITTED TO GETTING THIS DONE ON TIME.
ACTUALLY AND ON BUDGET. ABSOLUTELY. OKAY? I MEAN AND NEEDS TO STAY GONE. COUNCILMAN JONES WANNA PUT IN HIS ONE REQUEST FOR THIS, UM FOR THE WATER TOWER WATER TOWER AND THE BIGGEST LETTERS YOU CAN GET. I WANT TO SEE CITY OF PETERSBURG ON THAT THINGS WHERE EVERYBODY CAN SEE IT. IT'S A GOOD PLACE FOR IT RIGHT ON 95. SEE WE'RE WORKING ON IT. YOU'RE RIGHT IN
[00:45:06]
THE QUESTIONS MEMBERS OF COUNCIL FOR J M T. ALL RIGHT. THANK YOU. APPRECIATE THE REPORT. THANK YOU VERY MUCH NEXT ITEM. 12 STREETS . NOTHING FOR STREETS TONIGHT. NEXT IS ITEM 13 FACILITIES.NOTHING FROM FACILITIES TONIGHT . 14 ECONOMIC DEVELOPMENT IS MORE ANYTHING TONIGHT. NOTHING
[15. City Manager's Agenda]
TONIGHT. UM CITY MANAGERS AGENDA, MR ALTMAN. I JUST WANTED TO REMIND COUNCIL WE WERE WORKING ON YOUR COUNCIL ADVANCE AGENDA FOR THE AUGUST 10 AND 11 . SO WE'RE PUTTING TOGETHER THAT I'VE GOT TO GET IN THE GET TOGETHER A DRAFT. SOME OF THE TOPICS THAT WE'RE NOT TALKING ABOUT TONIGHT WILL BE ON THAT AGENDA ECONOMIC DEVELOPMENT CONVERSATIONS. AH, AH AND OTHERS, SO I JUST WANTED. YOU KNOW WE'RE CONTINUING TO WORK ON THAT. AND I APPRECIATE MISS LUCAS SUPPORT ON GETTING ALL THESE THINGS DONE. ALL RIGHT. ANYTHING ELSE WAS SOLOMON.THAT'S ALL. ALRIGHT. NEXT IS THE . BUSINESS REPORTS FROM THE CLERK LUCAS. GOOD EVENING ITEMS TONIGHT. NO ITEMS. NEXT. WE'LL MOVE ON TO THE CITY ATTORNEY, MR WILLIAMS. ANY ITEMS FOR TONIGHT? NO. REPORT, MR MAYOR. ALL RIGHT. NEXT IS ITEM. 18 ADJOURNMENT. MOVED. ALL RIGHT. ALL THE
* This transcript was compiled from uncorrected Closed Captioning.