Finance Commission

8/4/2022 - Minutes I. Call to Order Members Present: Ashly Lucht, Maurice Matte, Dillon Lovell City Staff Present: Angela Aldieri Call to Order by: Ashley Lucht Meeting Start Time: 6:31 PM II. Public Comment No public comment was made. III. Approve Previous Meeting Minutes Decision: Approved Motion by: Maurice Matte Second: Dillon Lovell IV. Council Update Mayor Lott provided her updated by e-mail. Council directed staff to create a Non-profit grant program aligned to this COVID business grant program, allocated $50k to help local non-profits with urgent needs. The Safe Healthy Connected People Commission will review those applications the way Finance is doing the business ones tonight. Several ARPA listening sessions with New American groups happened over the month of July. Key themes of challenges faced coming out of the pandemic are 1) Housing access, affordability, quality 2) adequate public transportation 3) need for more English and technology classes/training. We have an offer out to a new Treasurer. V. Elect Officer - Vice Chair This item was tabled until the membership on the commission is filled VI. Approval: COVID Business Recovery Grant Applications Members of the Commission reviewed the applications and scored them according to the evaluation criteria. Consensus was that applicant B was ineligible for the grant due to no revenue loss being incurred as they were not in operation during 2019. The remaining four applicants were recommended to Council for approval of funding requests. VII. Discussion: TIF Funding Allocation The group discussed the list of potential items to be funded with TIF money in future years to determine if there were any additional items that should be included in the evaluation model. Discussion revealed no new variables but additional nuance for the model was requested to be able to fund items from the list from TIF funding or add to the base budget. It was also discussed that some of the items on the list are not optional and funding will need to be found to VII. Discussion: TIF Funding Allocation The group discussed the list of potential items to be funded with TIF money in future years to determine if there were any additional items that should be included in the evaluation model. Discussion revealed no new variables but additional nuance for the model was requested to be able to fund items from the list from TIF funding or add to the base budget. It was also discussed that some of the items on the list are not optional and funding will need to be found to cover and that information should be made clear. VIII. Adjourn Motion by: Maurice Matte Second: Ashley Lucht Meeting End Time: 7:33 PM