Budget and Finance Subcommittee

By City Clerk at 8:23 am, Dec 16, 2022 City of Amesbury Office of the City Clerk 62 Friend St. Amesbury, MA 01913 MEETING NOTICE POSTED IN ACCORDANCE WITH THE PROVISIONS OF M.G.L. CHAPTER 30A §§18-25 Version 7.1.10 City Council Budget & Finance Committee Meeting Tuesday, December 20, 2022, at 7:30 PM City Hall Auditorium- 62 Friend Street Topics for Discussion / Agenda: Roll Call Minutes for Approval: None at this time Approval of 2023 Schedule Communications & Updates · Monthly Financial Reports from CFO Public Comment 2022-162 An Order to decertify the Tax Increment Financing Incentive Agreement entered into by the City with Global Property Developers Inc. as described herein and incorporated herein by reference. - Mayor and Councilor Rinaldi Sponsor Summary: This Order will serve to rescind authorization for and terminate the Tax Increment Financing Agreement entered into between the City and Global Property Developers Corporation. 2022-163 An Order approving and authorizing a Tax Increment Financing Incentive for Munters Corporation through a Tax Increment Financing Agreement with Munters Corporation and Global Property Developers Corporation as described herein and further described in the attachments which are incorporated herein by reference, authorizing execution thereof by the Mayor, and authorizing the mayor to take such actions as are necessary or appropriate to obtain Massachusetts Economic Assistance Coordinating Council approval, implement those documents, and carry out the purposes of this Order. - Mayor and Councilor Rinaldi Sponsor Summary: This Order will approve the Tax Increment Financing Exemption for and authorize execution by the Mayor of a Tax Increment Financing Agreement with, Munters Corporation and Global Property Developers Corporation with respect to and in support of the development of property located at 24 South Hunt Road, as well as authorize other necessary actions to support this significant economic development effort consistent with the Amesbury Incentive Guidelines. 2022-164 An Order to authorize a transfer of $12,941 from the FY23 Budget Reserve account to Council on Aging Salaries & Wages. -Mayor Sponsor Summary: This order requests a budget transfer in the amount of $12,941 from the FY23 Budget Reserve account to Council on Aging Salaries & Wages to cover longevity increases for the Director of the Council on Aging. 1 2022-165 An Order to authorize a transfer of $6,000 from the FY23 Budget Reserve account to Conservation Commission Salaries & Wages. -Mayor Sponsor Summary: This order requests a budget transfer in the amount of $6,000 from the FY23 Budget Reserve account to Conservation Commission Salaries & Wages to cover the cost of hiring a full-time Conservation Agent for the remainder of FY23. 2022-166 An Order to authorize the Mayor to accept and expend a FY23 Legislative Earmark Grant Award from the Commonwealth of Massachusetts in the amount of $100,000 for improvements to athletic fields. -Mayor Sponsor Summary: This funding will be used to improve the playing surface of the rectangular field at the Cashman Elementary School, located at 193 Lions Mouth Road. 2022-167 An Order to approve payment from the FY23 general fund operating budget for the below listed prior year invoice. -Mayor Sponsor Summary: The below listed invoice is for operating expenses related to services rendered in FY20 but for which funds were not encumbered by the corresponding city department at fiscal year-end. This order requests payment be made to the listed vendors from the corresponding department’s current year (FY23) operating budget in accordance with M.G.L. c. 44 s. 64. This vote requires a two thirds approval of the City Council. Adjourn Jasmine Looney December 15, 2022 2