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## Meeting Information | ||
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||
- Date: September 16, 2024 | ||
- Title: Budget Committee Meeting | ||
- Present: Rainville, Vetaw, Ellison, Osman, Cashman, Chavez, Chowdhury, Palmisano, Koski, Chughtai (Chair), Payne, Wonsley | ||
- Absent: Jenkins (joined later) | ||
- Guests: Deputy Chief Financial Officer Ra Chhoth | ||
- Votes: 2 | ||
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||
## Highlights | ||
|
||
- Presentation of the 2024 Second Quarter Financial Status Report | ||
- Resolution designating funds for violence reduction in the Lake Street Cultural District | ||
- Resolution transferring $1.5 million from contingency fund to CPED for Agate's Board and Lodge rehabilitation | ||
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||
## Discussion | ||
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### 2024 Second Quarter Financial Status Report | ||
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||
Deputy CFO Ra Chhoth presented the financial status report, highlighting: | ||
- The city's credit rating upgrade to AAA by Fitch and S&P | ||
- Parking revenues rebounding to near pre-pandemic levels | ||
- Local taxes projected to exceed 2023 amounts | ||
- ARPA spend down on track for the end of 2024 | ||
- Most funds meeting balance and cash reserve minimums, with exceptions in Self-Insurance and Parking funds | ||
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||
Council members asked questions about specific fund balances, revenue projections, and the self-insurance fund's negative position. No vote was taken on this informational item. | ||
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||
### Violence Reduction Funding for Lake Street Cultural District | ||
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||
Council Member Chavez introduced a resolution to designate $200,000 within the Neighborhood Safety Department's budget for violence reduction efforts in the Lake Street Cultural District. The funding would target areas where homicides or second-degree assaults have occurred. | ||
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Council members expressed general support for the initiative, though some raised concerns about the process and the potential for setting a precedent. Council Member Rainville asked about addressing citywide problems, to which Chavez responded that he would support similar proposals for other areas. | ||
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The resolution passed with a voice vote, with no opposition voiced. | ||
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### $1.5 Million Transfer for Agate's Board and Lodge Rehabilitation | ||
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||
Council Members Chavez, Osman, Payne, and Chughtai proposed transferring $1.5 million from the city's contingency fund to CPED for rehabilitating Agate's Board and Lodge transitional housing and shelter facility. | ||
|
||
The proposal sparked significant debate among council members. Supporters argued that it was a necessary emergency response to the homelessness crisis and would preserve critical shelter capacity. Opponents expressed concerns about the use of contingency funds, the lack of a formal application process, and the potential impact on other housing providers. | ||
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||
Council Member Palmisano said, "I don't see how rehabbing a long-term building function is suddenly an emergency. The idea of inviting this as our process doesn't feel very equitable, and I think as a legislative body, our world has to be a little bit larger than this." | ||
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||
Council Member Wonsley countered, "This motion represents that concrete solution that I kept hearing about us wanting to seek last week. And I've actually had many constituents reach out and urge me to support this funding, so I will be voting yes on it." | ||
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The resolution passed with 9 ayes and 4 nays, moving it forward to the full City Council for final consideration, where it will require 10 votes to pass. | ||
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## Public Comments | ||
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There were no public comments recorded in this meeting transcript. |
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+++ | ||
title = "Budget Committee" | ||
date = 2024-09-16 | ||
generated = true | ||
[params] | ||
author = "Claude.ai" | ||
+++ | ||
|
||
## Meeting Information | ||
|
||
- Date: September 16, 2024 | ||
- Title: Budget Committee Meeting | ||
- Present: Rainville, Vetaw, Ellison, Osman, Cashman, Chavez, Chowdhury, Palmisano, Koski, Chughtai (Chair), Payne, Wonsley | ||
- Absent: Jenkins (joined later) | ||
- Guests: Deputy Chief Financial Officer Ra Chhoth | ||
- Votes: 2 | ||
|
||
## Highlights | ||
|
||
- Presentation of the 2024 Second Quarter Financial Status Report | ||
- Resolution designating funds for violence reduction in the Lake Street Cultural District | ||
- Resolution transferring $1.5 million from contingency fund to CPED for Agate's Board and Lodge rehabilitation | ||
|
||
## Discussion | ||
|
||
### 2024 Second Quarter Financial Status Report | ||
|
||
Deputy CFO Ra Chhoth presented the financial status report, highlighting: | ||
- The city's credit rating upgrade to AAA by Fitch and S&P | ||
- Parking revenues rebounding to near pre-pandemic levels | ||
- Local taxes projected to exceed 2023 amounts | ||
- ARPA spend down on track for the end of 2024 | ||
- Most funds meeting balance and cash reserve minimums, with exceptions in Self-Insurance and Parking funds | ||
|
||
Council members asked questions about specific fund balances, revenue projections, and the self-insurance fund's negative position. No vote was taken on this informational item. | ||
|
||
### Violence Reduction Funding for Lake Street Cultural District | ||
|
||
Council Member Chavez introduced a resolution to designate $200,000 within the Neighborhood Safety Department's budget for violence reduction efforts in the Lake Street Cultural District. The funding would target areas where homicides or second-degree assaults have occurred. | ||
|
||
Council members expressed general support for the initiative, though some raised concerns about the process and the potential for setting a precedent. Council Member Rainville asked about addressing citywide problems, to which Chavez responded that he would support similar proposals for other areas. | ||
|
||
The resolution passed with a voice vote, with no opposition voiced. | ||
|
||
### $1.5 Million Transfer for Agate's Board and Lodge Rehabilitation | ||
|
||
Council Members Chavez, Osman, Payne, and Chughtai proposed transferring $1.5 million from the city's contingency fund to CPED for rehabilitating Agate's Board and Lodge transitional housing and shelter facility. | ||
|
||
The proposal sparked significant debate among council members. Supporters argued that it was a necessary emergency response to the homelessness crisis and would preserve critical shelter capacity. Opponents expressed concerns about the use of contingency funds, the lack of a formal application process, and the potential impact on other housing providers. | ||
|
||
Council Member Palmisano said, "I don't see how rehabbing a long-term building function is suddenly an emergency. The idea of inviting this as our process doesn't feel very equitable, and I think as a legislative body, our world has to be a little bit larger than this." | ||
|
||
Council Member Wonsley countered, "This motion represents that concrete solution that I kept hearing about us wanting to seek last week. And I've actually had many constituents reach out and urge me to support this funding, so I will be voting yes on it." | ||
|
||
The resolution passed with 9 ayes and 4 nays, moving it forward to the full City Council for final consideration, where it will require 10 votes to pass. | ||
|
||
## Public Comments | ||
|
||
There were no public comments recorded in this meeting transcript. |
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