Finance Committee

900 Quay Street City of Manitowoc Manitowoc, WI 54220 www.manitowoc.org Meeting Minutes Finance Committee Tuesday, February 6, 2024 5:30 PM Council Chambers and Remote (via Zoom) 1. Call to Order 2. Roll Call Present: 5- Brey, Sitkiewitz, Schlei, Reckelberg and Czekala 3. Public Comment Finance Committee Chair Alderperson Brey declared the meeting open for public comment. In accordance with policy, the public comment portion of the meeting is not made part of the official record. 4. Presentations 24-1161 Presentation by Brad Viegut from Robert W. Baird & Co. Inc. on City's 2024 Debt Financing Plan. Attachments: City of Manitowoc 2024 Debt Financing Plan - Baird Presentation This Presentation was placed on file. 5. Consent Agenda 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. Approval of the Consent Agenda Moved by Sitkiewitz, seconded by Czekala, to accept the Consent Agenda Items and place on file. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Schlei, Reckelberg and Czekala 24-1160 Minutes of the January 10, 2024 Finance Committee meeting, recommending approval and place on file. Attachments: 1-10-2024 Finance Committee Minutes City of Manitowoc Page 1 Finance Committee Meeting Minutes February 6, 2024 24-1164 4th Quarter 2023 Investment Report, recommend to accept and place on file. Attachments: 223-12-2023 6. Discussion and Action Items 24-1173 Resolution Authorizing the Issuance and Establishing Parameters for Sale of Not to Exceed $7,615,000 General Obligation Promissory Notes Attachments: Manitowoc, C of - 2024 7.615mm GOPN - Parameters Resolution Moved by Reckelberg, seconded by Schlei, that this Resolution be adopted. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Schlei, Reckelberg and Czekala 24-1174 Resolution Authorizing the Issuance of Not to Exceed $7,450,000 General Obligation Promissory Notes and Authorizing the Issuance and Establishing Parameters for the Sale of Not to Exceed $7,450,000 Note Anticipation Notes in Anticipation Thereof Attachments: Manitowoc, C of - 2024 7.450mm NAN - Parameters Resolution Moved by Reckelberg, seconded by Sitkiewitz, that this Resolution be adopted. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Schlei, Reckelberg and Czekala 24-1188 Scope of Engagement relative to the Proposed Issuance of $7,450,000 City of Manitowoc Note Anticipation Notes Attachments: City of Manitowoc (NANs) - Scope of Engagement - $7.45mm NAN Moved by Reckelberg, seconded by Schlei, that this Scope of Engagement relative to the issuance of $7,450,000 City of Manitowoc Note Anticipation Notes be approved. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Schlei, Reckelberg and Czekala 24-1189 Scope of Engagement relative to the Proposed Issuance of $7,615,000 City of Manitowoc General Obligation Promissory Notes Attachments: City of Manitowoc (NANs) - Scope of Engagement - $7.615mm GOPN Moved by Reckelberg, seconded by Sitkiewitz, that this Scope of Engagement relative to the issuance of $7,615,000 City of Manitowoc General Obligation Prommisory Notes be approved. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Schlei, Reckelberg and Czekala 24-1190 National Fish and Wildlife Foundation Grant Agreement Attachments: FY2023 SOGL Grant Agreement Moved by Schlei, seconded by Czekala, that this Grant Agreement be accepted. City of Manitowoc Page 2 Finance Committee Meeting Minutes February 6, 2024 The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Schlei, Reckelberg and Czekala 24-1168 Two Year Operator's License Application #230376 for Sarah Lee Tegelman Attachments: Two Year Operator License #230376 - Tegelman, S Moved by Czekala, seconded by Schlei, that this License Application be approved. The motion carried by the following vote: Aye: 4- Brey, Schlei, Reckelberg and Czekala Nay: 1- Sitkiewitz 24-1169 Application of "Class B" Intoxicating Liquor & Fermented Malt Beverage License, TAV-2362A, Hop Locker LLC, for HopLocker, 822 Franklin St. Attachments: Class B License, TAV-2362A Moved by Schlei, seconded by Sitkiewitz, that this Application be approved. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Schlei, Reckelberg and Czekala 24-1170 Application of "Class B" Intoxicating Liquor & Fermented Malt Beverage License, TAV-2372, Manitowoc Business Development, LLC, for Spices Restaurant & Bar, 2328 N. Rapids Rd. Attachments: Class B License, TAV-2372 Moved by Schlei, seconded by Sitkiewitz, that this Application be approved. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Schlei, Reckelberg and Czekala 24-1166 Granicus Subscription Renewal for Closed Captioning Services for Period of Performance March 18, 2024 - March 17, 2025 Attachments: Granicus Closed Captioning Services Moved by Sitkiewitz, seconded by Reckelberg, that this Subscription Renewal be approved. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Schlei, Reckelberg and Czekala 24-1163 2023 Municipal Court Revenues & Caseload Statistics Report Attachments: 2023 Municipal Court Revenues & Caseload Statistics Moved by Reckelberg, seconded by Sitkiewitz, that this Report be accepted and placed on file. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Schlei, Reckelberg and Czekala 24-1167 Addendum to Assessor Services Contract with Associated Appraisal Consultants for years 2024 through 2027 City of Manitowoc Page 3 Finance Committee Meeting Minutes February 6, 2024 Attachments: Contract Amendment - Finance Memo 2-6-24 City of Manitowoc - Monthly Parking Permit Addendum A Moved by Reckelberg, seconded by Schlei, that this Agreement Addendum be approved. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Schlei, Reckelberg and Czekala 24-1171 Out of State Travel Request - Tourism Dept. - Select Traveler Conference in Buffalo, NY - March 16-20, 2024 Attachments: Out of State Travel Request - Select Traveler Conference March 2024 Moved by Schlei, seconded by Sitkiewitz, that this Request be approved. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Schlei, Reckelberg and Czekala 24-1175 American Rescue Plan Act (ARPA) Sub Recipient Agreement with Manitowoc County Amendment for inclusion of Project Change Orders Attachments: 2021-FN-19T(A) Subrecipient Agreement Amendment (City of Manitowoc - Phase 1 Water Main Extension) Moved by Schlei, seconded by Sitkiewitz, that this Agreement Amendment be approved. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Schlei, Reckelberg and Czekala 24-1176 American Rescue Plan Act (ARPA) Subrecipient Agreement with Manitowoc County for Private Residence Connections Attachments: 2021-FD-19T2 ARPA Subrecipient Agreement (City of Manitowoc - Private Residence Connections) Moved by Sitkiewitz, seconded by Reckelberg, that this Agreement be approved. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Schlei, Reckelberg and Czekala 24-1162 4th Quarter 2023 Claims Report from City's Attorney's Office. Attachments: Jan-Dec 2023 Claims Report to Finance Committee Moved by Sitkiewitz, seconded by Reckelberg, that this Report be accepted and placed on file. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Schlei, Reckelberg and Czekala 7. Closed Session City of Manitowoc Page 4 Finance Committee Meeting Minutes February 6, 2024 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)(g) of the Wisconsin Statutes, which authorizes the governmental body to convene in closed session for the purpose of conferring with legal counsel for the governmental body who is rendering oral or written advice concerning strategy to be adopted by the body with respect to litigation in which it is or is likely to become involved. The specific subject matter that may be considered in closed session is: 24-1172 L24-00002 Star Self Storage 26th, LLC Claim 23-0955 L23-00129 B. Perkins Claim for damages >$5,000 Moved by Czekala, seconded by Reckelberg, that this meeting be convened in closed session. The motion carried by the following roll call vote: Aye: 5- Brey, Sitkiewitz, Schlei, Reckelberg and Czekala 8. Reconvene In Open Session Moved by Sitkiewitz, seconded by Czekala, that this meeting be reconvened in open session. The motion carried by the following roll call vote: Aye: 5- Brey, Sitkiewitz, Schlei, Reckelberg and Czekala 23-0955 L23-00129 B. Perkins Claim for damages >$5,000 Moved by Czekala, seconded by Sitkiewitz, to enter into the settlement agreement and instruct the City Attorney and the Mayor to execute necessary documents. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Schlei, Reckelberg and Czekala 24-1172 L24-00002 Star Self Storage 26th, LLC Claim Moved by Reckelberg, seconded by Czekala, that the Assessment on Parcel #355-106-004 be upheld and this Claim for Excessive Assessment be denied. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Schlei, Reckelberg and Czekala 9. Adjournment Moved by Reckelberg, seconded by Schlei, that this meeting be adjourned. The motion carried by the following vote: Aye: 5- Brey, Sitkiewitz, Schlei, Reckelberg and Czekala City of Manitowoc Page 5