Finance Committee

City of Verona Finance Committee City Hall – 111 Lincoln Street Verona, WI 53593-1520 MINUTES FINANCE COMMITTEE JANUARY 8, 2024 The meeting was called to order by Chairperson Chad Kemp at 6:03 p.m. Roll Call: Chairperson Chad Kemp, Alder Christine Posey and Alder Mara Helmke were present. Also present: Mayor Luke Diaz, Alder Beth Tucker-Long, City Administrator Jamie Aulik, Finance Director Brian Lamers, Police Chief Dave Dresser, City Planner Lukas Sivertsen and City Attorney Bryan Kleinmaier. Discussion and Possible Action regarding approval of December 11, 2023 Finance Committee minutes and the January 3, 2024 Finance Committee Minutes: Motion was made by Helmke, seconded by Posey to approve the December 11, 2023 and the January 2, 2024 Finance Committee minutes with no changes noted. Motion carried 3-0. Discussion and Possible Action regarding the Purchase of Property Located at 131 Horizon Dr, Verona WI: Chief Dresser passed out a listing of 2023 service calls for apartments in Verona and talked about the comparison of calls. He pointed out there have been more calls for The Klassik and the School Yard Apartments. Administrator Aulik explained that everyone is in agreement that there is a need for affordable housing. Attorney Kleinmaier talked about the legal issues and terms and conditions there may need to be discussed. He explained about the other projects that the City used incentives for the projects such as the Klassik and Alexander that used TIF incentives to help with the development. With projects like this there are no strings attached. He stated the Developer can have the agreement with WHEDA and the terms and conditions. Discussion took place regarding the qualifications for the funds to be used and the meaning of low-income housing and the rent restrictions. Kleinmaier talked about a project that the City of Waunakee did, providing incentive for the Developer, which provided more impact, helped spread out the funding and the City has no responsibility for property management. City Planner Lukas Sivertsen stated to understand the project cost there should be an Architect hired to analyze the design and the issues and cost that may come with a project like this. He also stated the building currently is nonconforming to the zoning and would have to go through the process of changing the zoning. Kleinmaier stated in the case the City turns into the Developer and the City cannot be more friendly with the zoning changes. After further discussion there was no motion taken. Discussion and Possible Action regarding the payment of bills: Motion was made by Kemp, seconded by Helmke to approve the payment of bills totaling $1,300,787.51. Motion carried 3-0. www.ci.verona.wi.us Adjournment: Motion was made by Kemp, seconded by Posey to adjourn the Finance Committee Meeting at 6:56 p.m. Motion carried 3-0. Respectfully submitted, Brian Lamers CPA Finance Director www.ci.verona.wi.us