Agenda - 09-04-2018 8-a - Minutes

Browse Search

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 Chair Dorosin said the Board wants to know the repayment terms, when the repayment starts, the number of payments, etc. Bonnie Hammersley said staff would need to negotiate that with IFC, and she is not sure that can be accomplished by next Thursday. Commissioner Jacobs said the Board would also want default terms. He said the Board may want to put funds into social justice fund until the fall, and invite the other two entities that are running capital campaigns into the discussion to see if they are interested in zero interest loans or grants. Commissioner McKee said in his opinion the Board just voted to revisit this in the fall, but is now trying to do a work around. He said the Board should vote now on an interest free loan or grant, or wait until the fall to do anything at all. He said policies exist for a reason. Commissioner Burroughs asked if the Board can get money out of the Other Post Employment Benefits (OPEB) at anytime. Bonnie Hammersley said no, the funds need to be moved into the social justice fund, if the Board wishes to access them. She said once the funds go in to OPEB, the Board cannot get them back out. Commissioner Burroughs said she appreciates Commissioner McKee's concerns, but said putting money aside allows the possibility of taking action in the fall. Chair Dorosin said the "work around" is an attempt to incorporate everyone's comments. Commissioner Burroughs said this is not a work around, but is putting money in a place until the Board decides what it wants to do with the policy in the fall. Commissioner Price agreed with Commissioner Burroughs. Commissioner Marcoplos also agreed. A revised motion was made by Chair Dorosin, seconded by Commissioner Rich, to move the $100,000 to the social justice fund pending review of the policy change in the fall. Commissioner McKee said he will park his reservations until then. Commissioner Jacobs apologized for not paying attention to Commissioner Burroughs' earlier comments. VOTE: UNANIMOUS Travis Myren resumed the presentation: • Operating Budget Amendment #2 (General Fund) — slide 5 — Agency Informed of Funding Loss After Outside Agency Funding Applications Due — No New Outside Agencies Funded in the Manager's Recommended Budget — See Letter from Northside Neighborhood Initiative Commissioner Jacobs asked if this is a one -time funding to bridge a gap that was created by another funder. Travis Myren said no, it would be expected to recur to plug a funding reduction. Chair Dorosin said this request would come within the regular outside agency process going forward. Commissioner Jacobs said he is not unsympathetic, and this is a good way to assist. Commissioner Price asked if these funds would come from the outside agency process each year, or just become a line item in the budget.