Finance Committee

Regular Meeting of the Finance Committee Held in the Conference Room at City Hall Thursday, September 7, 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, Councilor Denny participated by phone, and Councilor Perry being absent. Staff present: Monica Garcia, Juanita Jennings, Becky Hicks, Bill Morris, Louis Najar, Chanel Rey, Sharon Coll, Michael Stanton, Aaron Holloman, Joe Neeb, and Lupita Everett. Guests present: Larry Connolly, Lisa Dunlap, Amanda Mason, and Joseph Mason. APPROVAL OF AGENDA Councilor Henderson moved to approve the September 7, 2017 Finance Committee meeting agenda as presented. Councilor Denny was the second. A voice vote was unanimous and the motion passed 3-0 with Councilor Denny participating by telephone and Councilor Perry being absent. FOR THE RECORD: Councilor Perry joined the meeting at 8:10 a.m. APPROVAL OF MINUTES Councilor Henderson moved to approve the minutes from the August 3, 2017 regular Finance Committee meeting and the July 24, 2017 Special Finance meeting as presented. Councilor Denny was the second. A voice vote was unanimous and the motion passed. FOR THE RECORD: Councilor Denny joined the meeting at 8:21 a.m. NON-ACTION ITEMS Informational Reports: Ms. Garcia handed out reports to the committee members. Investment Portfolio Presentation: Ms. Hicks presented the Investment Portfolio to committee members. ACTION ITEMS Lodger’s Tax Funding Request Pecos Valley Potters Guild Arts & Crafts Sale: Ms. Jennings presented the request for funding of the Pecos Valley Potters Guild Arts & Crafts Sale in the amount of $1,025.00. The event is scheduled for November 10-12, 2017. The request from the Pecos Valley Potters Guild Arts & Crafts was in the amount of $1,902.00. The Occupancy Tax Board recommended funding in the amount of up to $1,025.00 on a reimbursement basis at 50% of eligible expenses. Councilor Henderson moved to send to full City Council on consent agenda proposed funding of up to $1,025.00 on a reimbursement basis at 50% of eligible expenses for the 2017 Pecos Valley Potters Guild Arts & Crafts Sale. Councilor Perry was the second. A voice vote was unanimous and the motion passed. Consider approval to authorize Stewart Industries International, LLC to amend their current lease agreement on building no. 72 to allow for rent abatement: Mr. Holloman presented the request for amendment of the current lease agreement on Building No. 72 to allow for rent abatement. Stewart Industries International, LLC requests rent abatement for light assembly replacement with high efficiency LED lighting. The request for rent abatement is not to exceed $1,667.11 in accordance with RIAC Rent Abatement Policy. Councilor Perry moved to send to full City Council on consent agenda proposed rent abatement in the amount of $1,667.11. Councilor Henderson was the second. A voice vote was 3-1 and the motion passed with Councilor Grant voting no. Consider approval of the award of Roswell South Park Cemetery Roads Phase II Improvement Legislative Grant 16-L-A2405: Mr. Najar presented the request for approval of Legislative Grant 16-L-A2405, to IPR Ltd of Albuquerque NM, Holly Frontier of Albuquerque NM and Bullseye Construction of Artesia NM for an estimated aggregate amount of $150,000.00. Legislative Grant 16-L-A2405 funds $150,000.00 for Roswell South Park Cemetery Roads Improvement. This will be Phase II to Cemetery road improvements constructed by City Streets Department funded by Legislative Grant 15-L-G-0740 in the amount of $50,000.00. Councilor Perry moved to send to full City Council on consent agenda. Councilor Henderson was the second. A voice vote was unanimous and the motion passed. Consider approval of the contract agreement for the Fisk Building, 327 N Main St: Mr. Morris presented the request for approval of the contract for sale of the Fisk Building, 327 N Main St. The proposed sale of the Fisk Building would be to Mason Holdings, LLC. The RFP called for the buyer to complete renovations within 18 months and that the use would be for a retail/eating establishment. The intent of the RFP was to score the proposals based on how the submitted proposals furthers the goals of the City's planning documents for the downtown area. Mason Holdings, LLC is offering $30,000.00 to purchase the building. Councilor Henderson moved to send to full City Council on consent agenda approval of the contract agreement for the Fisk Building, 327 N Main St. with the following changes:  Strike A. under 2. Purchase Price  Strike the third sentence under 7. Fees and Costs  Strike the word “be” in the second sentence of 6B.  Correct the phrasing “Merchantability” to “Marketability” on page 5 of 8  Correct the typo in “ Mason Holdings, LLC” on page 6 of 8 Councilor Perry was the second. A voice vote was unanimous and the motion passed. PUBLIC PARTICIPATION Mr. Connolly expressed his appreciation to Councilors and Staff. ADJOURN The meeting adjourned at 8:41 a.m.