z - Retired - Finance Committee

draft Finance Committee Meeting Minutes - Aug. 3 , 2017 Westmont Village Hall Call to Order: 4:00 pm - Trustee Guzzo Pledge of Allegiance Roll Call: Committee Staff Trustee Guzzo (Chair) Director Parker Trustee Liddle Dave Weiss Trustee Addington Alicja Richards Trustee Barker Ruth Olsson Trustee Barry Jill Ziegler (4:08) Trustee Nero (4:11) Chief Riley (4:19) Mayor Gunter Carolyn Kossman (4:24) Clerk Szymski Cathy Crane (4:24) Manager May Larry McIntyre (4:24) Visitors None Minutes approved: There were no minutes to approve this mee ng. Two sets of minutes will be approved at the next mee ng. UNFINISHED BUSINESS: Director Parker reviewed the op ons for funding a new Public Works Facility. The op ons include Places for Ea ng Tax increase, Sales Tax increase (only if Westmont goes back to Home Rule), Personnel Vacancy Budget, Water Rate increase, Move Salt fund to MFT. There are seven different combina ons with the previously stated op ons. Op on A: Cost would be $5.5 million ● Rebuild Street Division Only - fuel pumps, remediate soil, replace building, ● Does not combine Water & Street departments ● Much will be wasted if we ever decide to combine ● Will need to iden fy a way to handle the Street Department while building new facility Op on B: Cost would be $17 million  ● New building on Burlington Ave ● Building could be added on to in a future phase ● Includes facili es that will benefit both Water & Streets Departments ● May provide opportuni es for regional stormwater deten on Op on C: Cost would be $23 million ● New building on Burlington Ave ● Full building for both Water and Street Department ● May provide opportuni es for regional stormwater deten on Op on D: Raise Places for Ea ng Tax by 1% The main ques on with this op on is are we willing to raise places for ea ng tax 1%? This would make the tax a total of 3% . If not, we can eliminate op on D. Trustee Barker indicated he thought a 1% raise to Places for Ea ng is too high. Trustee Barker is hesitant to raise water rates due to not knowing if the City of Chicago or Water Commission will raise. Trustee Barry asked why we would build on Burlington Ave. when we have new residen al buildings proposed for the future. Director Parker said that Burlington Ave. is the best loca on for the combined facility. Manager May commented that Burlington Ave. has residen al property across the street and a new facility would not be something new to them. Manager May also said that we cannot move the Water Plant. Trustee Barry has concerns that the new residen al property proposed may not get renters with a new facility right next door. Manager May said there is already a building, yard and water tower, etc. and the builder of the new property knows these facili es are already there. Manager May spoke of the EPA report that conveys we need to rec fy the contamina on or ensue viola ons. The only way to postpone viola ons with the EPA is the assurance that we are working on a solu on. Trustee Addington prefers raising the Places for Ea ng Tax because he does not know what the state of Illinois will do next. Trustee Barker would like to let the public see the state of the facility to help them accept the reason for whatever increases, water rates or taxes. Trustee Guzzo agreed an open house at the Public Works Facility would be a good idea. Mayor Gunter stated the Street Facility has been rated by the Village’s insurance pool to be safe enough to work in. Trustee Barry asked Director Parker what we have in the reserve fund. Director Parker said there is $ 2.5 mIllion above the required reserve amount. That money is available to possibly be used for infrastructure. If we were to use 1 million of this money, it would lower the amount needed from the op ons listed above. Trustee Barker said the money in our reserve is also needed for other things. And would prefer to not deplete the reserve. Director Parker stated there will be $700,000 uncommi ed monies will be in the stormwater fund at the end of the year. Trustee Guzzo mo oned for Places for Ea ng and Public Works Facility discussion to be con nued at the next Finance Commi ee mee ng and on Sept. 14, 2017. Mo on seconded by Trustee Addington. NEW BUSINESS: None at this me. REPORTS: None at this me. The next Finance mee ng is August 3, 2017. Adjourn: 5:02 pm, a mo on to adjourn was made by Trustee Addington, seconded by Trustee Liddle, all approved with all ayes.