Downtown Development Authority Minutes

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DOWNTOWN DEVELOPMENT AUTHORITY
March 19, 2003 – 8:00 AM
Council Chambers

Present: DDA Members: Christopher Johnson, Lou LaChance, Margene Buckhave, Jim DeHaan, Greg Presley, Dave Larsen. Others: City Manager Gary Word, DDA Director Lori Ward, Assistant City Manager/Finance Director Nickie Bateson, Recording Secretary Carol Kasprowicz, School Board Finance Director John Street, Reporter Pauline Lupercio

Absent: Lynda Heaton, Rick Shaffner, Jim Long (all excused)

Approval of Minutes: As there were no corrections or additions, the minutes of the March 11, 2003 minutes were approved as presented.

Parking Management Update –

Director Ward stated the 2003 stickers (that are to be applied to the existing parking stickers) would be sent out this week. It was suggested that next year’s parking stickers be of another color instead of applying an updated year sticker. Ward stated the Downtown Parking Committee had decided to remain with the present parking configuration at the Cady deck in response to a requested change by Century 21.

Review of DDA Budget FY03-04 –

Ward and Bateson reviewed the projected FY03-04 budget with the following highlights:

- The projected revenue for 03-04 is $1.5M, which includes the anticipated sale of City property to Cambridge Development for $460,000.

- Noted expenditure items dealing with DDA Programming and Promotion including the DDA Office were: part-time wages for updating the DDA website, downtown parking signage program, and purchase of a laptop computer.

- Noted expenditure items dealing with Downtown Operations and Maintenance were: repainting of parking structures, and removal of ash trees and replacement with diverse trees.

- The Capital Improvement Program included planning and design studies for downtown parking decks, street furnishings including bicycle hoops and water fountains, and a sculpture or water fountain on Hutton Street.

- Total expenditures, including the DDA Debt Service Fund, are projected to be $690,000.

- Unallocated Reserve (to be reserved for future parking expansion) is projected to be $760,000. This amount includes the $460,000 anticipated from the Cambridge sale.

It was suggested that the projected revenue from the Cambridge sale be separated from the standard revenue sources. The Cambridge revenue is to be noted in the budget text message.

Discussion ensued regarding parking credits, the present sale deadline for Cambridge, the mistaken perception that the funds allocated for programming and promotion is the Director’s salary, and the level of capture for future bond issues.

Motion LaChance, seconded by DeHaan to recommend the proposed FY03-04 budget to City Council. Motion carried unanimously.

Compliments were extended to Bateson, Ward, and staff for the excellent work performed in formulating the budget.

The next meeting is scheduled for April 8, 2003 and members were reminded it is anticipated to be a 2-3 hours meeting.

Meeting adjourned 8:55 a.m.

Respectfully submitted,
Carol T. Kasprowicz, Recording Secretary