Finance Committee

Regular Meeting of the Finance Committee Held in the Conference Room at City Hall Thursday, June 1, 2017 Notice of this meeting was given to the public in compliance with Sections 10-15-1 through 10- 15-4 NMSA 1978 and Resolution 16-69. ROLL CALL The meeting convened at 8:00 a.m. with Chairman Grant presiding; Councilors Henderson and Denny being present; Councilor Perry being absent. Staff present: Monica Garcia, Allison Gray, Juanita Jennings, Steve Miko, Aaron Holloman, Joe Neeb, Bill Morris, Martha Morales, Sharon Coll and Dennis Kintigh. Guests present: Daniel Alona, Regina Gaysina, Larry Connolly, Kathy Lay and Jamie Boling. APPROVAL OF AGENDA Councilor Denny moved to approve the June 1, 2017 Finance Committee meeting agenda as presented. Councilor Henderson was the second. A voice vote was unanimous and the motion passed with Councilor Perry being absent. APPROVAL OF MINUTES Councilor Denny moved to approve the minutes from the May 4, 2017 Finance Committee meeting as presented. Councilor Henderson was the second. A voice vote was unanimous and the motion passed with Councilor Perry being absent. NON-ACTION ITEMS Informational Reports: Ms. Garcia provided the May 2017 Lodgers’ Tax report. The Finance Committee members and staff discussed the Budget Status Report. ACTION ITEMS Lodger’s Tax Funding request – 12th Annual Roswell Jazz Festival: Ms. Jennings presented the request for funding of the 12th Annual Roswell Jazz Festival in the amount of $5,000.00. The event is scheduled for October 18-22, 2017. The Occupancy Tax Board recommended funding in the amount of up to $5,000.00 on a reimbursement basis at 50% of eligible expenses. Ms. Boling gave a brief summary about the event. Councilor Henderson moved to send to full City Council on consent agenda proposed funding of up to $5,000.00 on a reimbursement basis at 50% of eligible expenses for the 12th Annual Roswell Jazz Festival. Councilor Denny was the second. A voice vote was unanimous and the motion passed with Councilor Perry being absent. Authorization to advertise for a public hearing of Proposed Ordinance 17-17, Issuance of Gross Receipts Tax Improvement Revenue Bonds for the Recreation and Aquatic Center: Ms. Garcia presented the request for approval of authorization to advertise for a public hearing of Proposed Ordinance 17-17. The GRT Revenue Bonds, Series 2017 would include funds up to $23,000,000. The project cost is estimated at $20,000,000. Ms. Gaysina from RBC Capital Markets and Mr. Alona from Modrall Sperling Law Firm discussed the GRT Bond Issuance and were available for questions. Councilor Henderson moved to send to full City Council authorization to advertise for a public hearing of Proposed Ordinance 17-17. Councilor Denny was the second. A voice vote was unanimous and the motion passed with Councilor Perry being absent. Authorization to advertise for a public hearing of Proposed Ordinance 17-18, NMFA Loan for Airport Building Improvements: Ms. Garcia presented the request for approval of authorization to advertise for a public hearing of Proposed Ordinance 17-18. The NMFA loan is in the amount of $2,500,000. The cost of the project is estimated at $4,000,000. Airport Revenues will be used to pay the City’s portion of $1,500,000. Ms. Gaysina from RBC Capital Markets and Mr. Alona from Modrall Sperling Law Firm gave an overview of the Airport Financing. Councilor Denny moved to send to full City Council authorization to advertise for a public hearing of Proposed Ordinance 17-18. Councilor Henderson was the second. A voice vote was unanimous and the motion passed with Councilor Perry being absent. Authorization to advertise for a public hearing of Proposed Ordinance 17-16 amending Ordinance 17-04, adoption of a Municipal Environmental Services Gross Receipts Tax: Ms. Garcia presented the request for approval of authorization to advertise for a public hearing of Proposed Ordinance 17-16 amending Ordinance 17-04. Mr. Holloman discussed the amendments. Councilor Henderson moved to send to full City Council authorization to advertise for a public hearing of Proposed Ordinance 17-16 amending Ordinance 17-04. Councilor Denny was the second. A voice vote was unanimous and the motion passed with Councilor Perry being absent. Professional Services Agreement with MainStreet Roswell: Mr. Morris presented the request for approval of a professional services agreement between the City and MainStreet Roswell to include funding MainStreet Roswell in the amount of $40,000. MainStreet Roswell is an organization which works to revitalize and enhance the vitality of the City’s downtown area. Mr. Morris gave a summary of the terms and the scope of services. Ms. Lay discussed some of the events that are coordinated. Councilor Denny moved to send to full City Council the request for approval of a professional services agreement between the City and MainStreet Roswell to include an amendment to Section 3 to read, “…shall occupy a portion of the premises beginning July 1, 2017 for a term of one (1) year with four (4), one-year extensions upon the mutual written agreement of the parties…” Councilor Henderson was the second. A voice vote was unanimous and the motion passed with Councilor Perry being absent. Lease Agreement with MainStreet Roswell: Mr. Morris presented the request for approval of a lease agreement between the City and MainStreet Roswell and discussed the highlights of the agreement. The lease will allow MainStreet Roswell the use of a City-owned building at 403 N. Richardson Ave. Councilor Denny moved to send to full City Council the request for approval of a lease agreement between the City and MainStreet Roswell. Councilor Henderson was the second. A voice vote was unanimous and the motion passed with Councilor Perry being absent. PUBLIC PARTICIPATION There was discussion between staff and Committee members concerning Lodgers’ Tax updates. Mr. Connolly had questions regarding the Way Finding study project. ADJOURN The meeting adjourned at 9:05 a.m.