Home : Friday Memo

FRIDAY MEMO

 

 

 

To:                  Town Board Members

From: John Olson, Town Administrator

Date:   April 23, 2015    

 

 

Please take time to read this week’s Friday Memo- -a general recap of the week and upcoming news.  As always, should you like more information, I ask that you call the office, e-mail or stop in.  Thanks for your continued support. 

 

 

  1. Thanks to the electors who voted to sell the lots at 3809 South Shore Dr.  (Del-Aqua Apts) at Tuesday’s Annual Meeting.  The survey is completed and the appraisal is near completion.  We will soon enter into a contract with the Rauland Agency to market and sell the property for redevelopment.
  2. At Tuesday’s Board Meeting, you voted unanimously to approve the proposal from Rosenbauer for a new MP3 Pumper Apparatus and Commander 4000-6518 Chassis (Fire Truck) for $579,553.  The signed proposal has already been mailed to Jefferson Fire & Safety. 
  3. You also voted to limit additional capital spending for this year.  The other pending items under discussion (Plow Truck, Ambulance, Bridges) will be decided and financed with the Fire Truck in 2016.  The financing challenge is to manage the cash flow budget while increasing debt.  The State Trust Fund offers more competitive interest, but has limitations on managing the payments.  Traditional financing (local bank) has a little higher interest rate, but offers more flexibility in payments.  Both options will be considered and evaluated as a “bridge” to refinancing the 1.7M balloon balance remaining in 2021 left from the 3.8M Note issued in 2011.  We may consider the public market (Promissory Note/Municipal Bond) and rating process again in 2021 if interest rates remain lower than other loan options.  We currently budget 350-400K in Principle & Interest debt payments annually.   
  4. You also voted for the new ProPhoenix Records Management System recommended by the Police Committee for a little under 45K.   The agreement is being reviewed by legal before signing. 
  5. EMS Medical Billing responded they should have time to answer the legal comments before the May Board Meeting.  
  6. Pat Romenesko will be present at the May 11 COW to comment on the 2014 Audited Financial Statements.  
  7. All Assessed Values for the Town are available online at accurateassessor.com.    
  8. The Highway Shop is a “free drop-off site” for Waste Oil that is used for heating purposes.  We are currently in low supply.
  9. I will be out of the office tomorrow, 4/24.  Enjoy your weekend! 

     

 

Meetings next week:  None scheduled at this time.