Finance Committee

900 Quay Street City of Manitowoc Manitowoc, WI 54220 www.manitowoc.org Meeting Minutes Finance Committee Tuesday, February 1, 2022 5:30 PM Council Chambers Note - Meeting will also be available via Remote Conferencing (Zoom) 1. Call to Order 2. Roll Call Present: 5- Brey, Sitkiewitz, Brunner, Cummings and Reckelberg 3. Public Comment No public comment. 4. Presentations 22-0088 Presentation by Brad Viegut on 2022 Debt Financing Plan Attachments: 2022 City of Manitowoc Debt Financing Plan.pdf 5. Consent Agenda Approval of the Consent Agenda Approval of the Consent Agenda Moved by Brunner, seconded by Sitkiewitz, to accept the Consent Agenda Items and recommendations of the various committees The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Brunner, Cummings and Reckelberg 22-0086 Minutes of January 4, 2022 Finance Committee meeting, recommending approval and place on file Attachments: MeetingMinutes04-Jan-2022.pdf City of Manitowoc Page 1 Finance Committee Meeting Minutes February 1, 2022 22-0087 Minutes of various Manitowoc Public Utilities Commission Meetings, recommending accepting and place on file Attachments: MPU 2021-09-13 Minutes.pdf MPU 2021-10-11 Minutes.pdf MPU 2021-10-25 Minutes.pdf MPU 2021-11-08 Minutes.pdf These items will be approved by one motion unless any Committee Member wishes to remove an item for discussion. REMOVAL OF CONSENT AGENDA ITEMS: Any Committee Member may request removal of any item from the Consent Agenda, and such item shall be removed without debate or vote. Any item or part thereof removed from the Consent Agenda shall be separately considered. 6. Discussion and Action Items 22-0110 Resolution Authorizing the Issuance and Establishing Parameters for the Sale of Not to Exceed $6,440,000 General Obligation Promissory Notes Attachments: Parameters Resolution - 2022 GOPNs $6.44MM.pdf Moved by Brunner, seconded by Sitkiewitz, that this Resolution be accepted. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Brunner, Cummings and Reckelberg 22-0111 Resolution Authorizing the Issuance and Establishing Parameters for the Sale of Not to Exceed $3,845,000 General Obligation Promissory Notes Attachments: Parameters Resolution - 2022 GORBs $3.845MM.pdf Moved by Sitkiewitz, seconded by Cummings, that this Resolution be accepted. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Brunner, Cummings and Reckelberg 22-0112 Resolution Authorizing the Issuance of Not to Exceed $3,535,000 General Obligation Promissory Notes and Authorizing the Issuance and Establishing Parameters for the Sale of Not to Exceed $3,535,000 Note Anticipation Notes in Anticipation Thereof Attachments: Parameters Resolution - 2022 NANs $3.535MM.pdf Moved by Brunner, seconded by Reckelberg, that this Resolution be accepted. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Brunner, Cummings and Reckelberg City of Manitowoc Page 2 Finance Committee Meeting Minutes February 1, 2022 22-0113 Resolution Authorizing the Issuance of Not to Exceed $1,420,000 General Obligation Promissory Notes and Authorizing the Issuance and Establishing Parameters for the Sale of Not to Exceed $1,420,000 Taxable Note Anticipation Note in Anticipation Thereof Attachments: Parameters Resolution - 2022 TNANs $1.420MM.pdf Moved by Sitkiewitz, seconded by Reckelberg, that this Resolution be accepted. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Brunner, Cummings and Reckelberg 22-0114 Resolution Authorizing the Issuance and Establishing Parameters for the Sale of Not to Exceed $1,500,000 Taxable General Obligation Refunding Bonds Attachments: Parameters Resolution - 2022 TGORBs $1.500MM.pdf Moved by Cummings, seconded by Reckelberg, that this Resolution be accepted. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Brunner, Cummings and Reckelberg 22-0090 Discussion and possible action on the Capital Plan for the Manitowoc Marina Attachments: Manitowoc Marina Capital Plan Note.pdf Moved by Brey, seconded by Reckelberg, that this Action Item be accepted. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Brunner, Cummings and Reckelberg 22-0089 4th Qtr 2021 Investment Report, recommend to accept and place on file. Attachments: 4th QTR 2021 Investment Report.pdf Moved by Reckelberg, seconded by Sitkiewitz, that this Report be accepted and place on file. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Brunner, Cummings and Reckelberg 22-0102 Application for "Class B" Intoxicating Liquor & Fermented Malt Beverage License, Lupitas Mexican Store LLC DBA Fast Taco, 1701 S 41st St., recommend to approve the application. Attachments: Class B App - Fast Taco 1701 S 41st.pdf Moved by Sitkiewitz, seconded by Reckelberg, that this Application be accepted. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Brunner, Cummings and Reckelberg City of Manitowoc Page 3 Finance Committee Meeting Minutes February 1, 2022 22-0103 Application for "Class B" Intoxicating Liquor & Fermented Malt Beverage License, The Tipsy Tomato Pub & Pizzeria, 1228 Memorial Dr, recommend to approve the application. Attachments: Class B App - Tips Tomato Pub & Pizzeria, 1228 Memorial Dr.pdf Moved by Sitkiewitz, seconded by Brunner, that this Application be accepted. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Brunner, Cummings and Reckelberg 22-0104 Application for "Class B" Intoxicating Liquor & Fermented Malt Beverage License, Manitowoc Lodging Associates LLP DBA Baymont Hotel, 101 Maritime Dr, recommend to approve the application. Attachments: Class B App - Manitowoc Lodging Association LLP DBA Baymont Hotel, 101 Maritime Dr.pdf Moved by Brunner, seconded by Sitkiewitz, that this Application be accepted. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Brunner, Cummings and Reckelberg 22-0106 Correction of Error from City Assessor for 1616 Wollmer St, Parcel #000-144-000, recommend to reduce the assessed value to $393,800 for 2021 and reduce the tax bill to $9,366.60 Attachments: Correction of Error - 1616 Wollmer St - Parcel 00-144-000.pdf Moved by Brunner, seconded by Sitkiewitz, that this Communication be accepted to reduce the assessed value to $393,800 for 2021 and reduce the tax bill to $9,366.60. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Brunner, Cummings and Reckelberg 22-0109 Communication from City Assessor on 2021 Tax Roll Omitted Parcels 355-102-002 & 355-102-003; 1912/1916 S 23rd St, recommend to place on omitted tax roll and create 2021 tax bills totaling $1,642.90. Attachments: Omitted Tax Bill - 1912 & 1916 S 23rd St - Parcles 355-102-002 & -03.pdf Moved by Reckelberg, seconded by Sitkiewitz, that this Communication be accepted to place on omitted tax roll and create 2021 tax bills totaling $1,642.90. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Brunner, Cummings and Reckelberg 22-0105 Report of 2021 Municipal Court Revenues & Caseload Statistics, recommend to accept and place on file. Attachments: 2021 Municipal Court Revenues & Caseload Statistics.pdf Moved by Reckelberg, seconded by Sitkiewitz, that this Report be accepted and place on file. The motion carried by the following vote: City of Manitowoc Page 4 Finance Committee Meeting Minutes February 1, 2022 Aye: 5- Brey, Sitkiewitz, Brunner, Cummings and Reckelberg 22-0107 Discussion and possible action on agreement between the City and Midwest Cycling Series to host the Tour of America’s Dairyland Bike Race, recommend to enter into agreement. Attachments: 2022 Manitowoc Race Agreement .pdf Moved by Sitkiewitz, seconded by Cummings, that this Agreement be accepted to enter into agreement. The motion carried by the following vote: Aye: 4- Brey, Sitkiewitz, Cummings and Reckelberg Abstain: 1- Brunner 22-0022 Discussion and possible action on American Rescue Plan Act (ARPA) agreement with Manitowoc County Attachments: Lead Lateral Emails from MPU.pdf Watermain Email from Mayor Nickels.pdf Moved by Reckelberg, seconded by Sitkiewitz, that this Action Item be accepted. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Brunner, Cummings and Reckelberg 22-0091 Discussion and possible action on City of Manitowoc Fundraising for Holiday Decorations Attachments: City of MTW Holiday Decorations Fundraise Email.pdf Moved by Brunner, seconded by Sitkiewitz, that this Action Item be accepted. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Brunner, Cummings and Reckelberg Notice is hereby given that the above governmental body may adjourn into a closed session during the meeting as authorized by Section 19.85(1)(e) of the Wisconsin Statutes, which authorizes the governmental body to convene in closed session for the purpose of deliberating or negotiating the purchasing of public properties, the investing of public funds, or conducting other specified public business, whenever competitive or bargaining reasons require a closed session. The specific subject matter that may be considered in closed session is: 22-0108 Review and discussion on a potential term sheet / development agreement with Kaysun Alderperson Brey read the Notice to go into closed session. Motion by J Brunner, second by M Cummings, to convene in closed session. The motion carried on roll call vote: Aye: 5 Nay: none City of Manitowoc Page 5 Finance Committee Meeting Minutes February 1, 2022 7. Closed Session 22-0108 Review and discussion on a potential term sheet / development agreement with Kaysun Motion by T Reckelberg, second by M Cummings to reconvene in open session. Motion carried by a roll call vote: Aye: 5 Nay: none 8. Reconvene in Open Session 22-0108 Review and discussion on a potential term sheet / development agreement with Kaysun Moved by Reckelberg, seconded by Sitkiewitz, that this Agreement be accepted. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Brunner, Cummings and Reckelberg 9. Adjournment Moved by Sitkiewitz, seconded by Reckelberg, to adjourn. City of Manitowoc Page 6