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67 WORK SESSION APRIL 28_ 2008
City Commission, Sanford, Florida
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CITY OF SANFORD
CITY COMMISSION WORK SESSION
Railroad Depot Room
2nd Floor
Sanford City Hall
MONDAY, APRIL 28, 2008 300 North Park Avenue
5:00 PM Sanford, Florida
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provided by the City of Sanford.
AGENDA
1) Sanford Housing Authority -- presentation regarding annual audit and report on status of the SHA.
2) Capital Improvement Financing — presentation by Mark Galvin, Financial Advisor, First Southwest Company. (Regular
Item 9. B) [Commission Memo 08-121]
3) Agenda Items - additional information and /or questions.
4) END the meeting.
MINUTES
68 City Commission, Sanford, Florida ORK SESSION APRIL 28. 2008
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The City Commission of the City of Sanford, Florida, met in Work Session on Monday, April 28, 2008, at 5 PM,
in the Railroad Depot Room, 2nd Floor, City Hall, 300 North Park Avenue, Sanford, Florida.
Present: Mayor Linda Kuhn
Vice Mayor Velma Williams
Commissioner Art Woodruff
Commissioner Randy Jones
Commissioner Jack T. Bridges
Acting City Manager Kristi Aday
City Clerk Janet R. Dougherty
Deputy City Clerk Cynthia Porter
Absent: City Manager Robert (Sherman) Yehl
City Attorney William L. Colbert
Mayor Kuhn called the Work Session to order at 5 PM.
1) Sanford Housing Authority - presentation regarding annual audit and report on status of the SHA.
Angel Tua, Sanford Housing Authority Executive Director, reported that he submitted the audited statement to
the City and the State. The Housing Authority is turning for the best, thanks to the leadership of the Board which has taken on the
task as gatekeepers in their fiduciary responsibilities for tax payer monies. In the past two fiscal years the Authority has not
issued the City its payment in lieu of taxes because it wanted to make sure it was stable financially, but this week the City will
receive two checks for payment in lieu of taxes. The financial condition of the Housing Authority: net assets are listed as $4.5
million; every bill is paid; in the current budget there is anticipated revenue or net profit of approximately $18,000; the agency
continues to suffer loss of revenue and expenses have increased and as a result drastic measures had to be taken in the way of a
reduction in force so he had to restructure and refocus but the current Staff is very strong and has the sense of urgency needed to
maintain and continue operating the agency. Lease enforcement has been hammered strongly, addressing non - payment and
behavioral problems adverse to the lease agreement. Mr. Tua said that he is confident that next year's audit will reflect a much
greater structure to the agency. The agency is moving forward with the idea of redevelopment plans and will share the concept
with the City.
2) Capital Improvement Financing - presentation by Mark Galvin, Financial Advisor, First Southwest Company. (Regular
Item 9. B) [Commission Memo 08 -121]
Mark Galvin, Financial Advisor, First Southwest Company, reviewed information regarding the bank loan RFP for
the new public safety complex, and recommended acceptance of the proposal from Branch Banking & Trust (BB &T) for a non
qualified bank loan of $18 million.
The Commission concurred to accept the proposal and authorized Staff to move forward and bring final documents
for approval, but if the cost of the public safety building is less than $18 million the money will be designated to be spent only by
the City Commission or in the alternative that it would be used to pay down the loan; that decision will be made within a certain
amount of time after the final bill.
3) Agenda Items - additional information and /or questions.
Ms. Aday distributed a Fort Mellon Park update.
Ms. Aday distributed a Citizen Survey to the Commission and asked them to complete it during the dinner break.
MINUTES
69 WORK_ SESSION APRIL 28. 2008
City Commission, Sanford, Florida
E00514441DW
4) END the meeting.
Mayor Kuhn adjourned the Work Session at 5:54 PM.
Mayor Li da Kuhn
Attest:
9 &th K
ity Clerk
cp