Finance Committee - Regular Meeting

Mobile, the meeting's presence, the exception of July to his excuse this evening. Move on to a public time. Is there anybody from the public that wishes to address the meeting this evening?

Thanks. Fletcher Albright. So I'm here today because of the denial of my liquor license. Pretty much a little bit about myself. I'm 28 years old. I work full time at Wisconsin Aluminum Foundry And I recently got a part time job at Quitrip. And one of their key things is to be able to sell alcohol and tobacco products in an environment. And I went and applied for it. And I'm assuming the denial was due to the past mistake that I made, I think, in twenty seventeen, twenty eighteen, which ended up with a felony charge, which I learned greatly from that. I don't drink. I don't do anything wrong. I go to church every Sunday. And I guess I'm asking you guys to reconsider.

Okay. And just so you know, can't have a dialogue before.

Oh, okay. Yeah. Sorry. I didn't know how this stuff works. This is my first time coming here.

Okay. Sweet.

Hi there. I'm Chaz Kircher. I'm the representative from Quick Trip. I'm one of the assistant store leaders at the store or by festival. I've been with Quick Trip for eleven years. I was one of the team that decided or made the decision to hire Fletcher. We take into consideration, like, felonies and especially because the importance of acquiring age or or, the ability to sell age restricted products. And we saw Fletcher as somebody who wanted to work hard. He's got another job. He's wants to pick up another job for additional income.

He's got a daughter that he's hoping to support. And really, we saw somebody who wants to try and get ahead in life by picking up an additional source of income, and we saw that as somebody who we wanted chance to. So I'm just here in support with him and hoping that we can help him to acquire this license. Thank you.

All of you fine people because I miss you all. Alright. So if some of you recall when the development agreement was approved with Tycor for the redevelopment of the mall site, there is language within that agreement that basically stated the city had a desire to develop a regional pond on a portion of the property, but understanding that, the developer was unlikely to pay that full cost, that agreement would be developed in the future. So that is basically what is before you this evening. It's fairly straightforward agreement.

Ultimately, the main item that is probably of concern is how the cost will be broken down. The agreement basically states that the city will pay 74% of the regional pond. That number was based on some engineer estimates. Basically, what the engineer did, was look at what the cost would be if they just just did a basically a subdivision size stormwater pond versus the regional pond. We looked at the cost, broke that down, basically.

That's how the ratio came up. So now that the contractor has been selected on that, which is Vinton, they will be doing the work, and the agreement states that basically the contractor will build the city and will pay up to 74% of that cost, which, the exact dollar amount as proposed is $887,334.96. That would be funded out of the TIF district that was created and some of the bonding that was secured last year. Basically, yeah. I can go into more detail, but ultimately delays have pushed back the schedule for one year.

I did rerun our pro formas, just based on some of our assumptions. The tip district still comes out in the black at the end of that. Again, on our assumptions, it just basically pushes back the timeframe where the developer would get paid and we do go into a bit of a larger hole upfront, but then again increment eventually pays its way up. Environmental is never is what I will say. Well, since I always am spending money, Sean tells me I have to try and find other people's money to spend.

So that is what this request is for. Basically, we are looking to pursue diff two different grants. We have the ability to do that because one of the properties, which is River Point, is owned by the community development authority, and one is owned by the city, which is the mall property. By EPA standards, they are considered two different legal entities, we can apply for two different grants. The smaller of the grants, we're looking at about 500,000, might be a little bit less.

We're still working on final estimate numbers, would be to clean up the former Bowers Tire site on the mall. It's basically that corner that if you drive out there, it's still paved. There is contamination there. There are some options to maybe leave some of it, but really the best for all considered since it will be residential is to dig and remove all of that contamination. So that's what this grant would pay for. There is no local match during under the current EPA regulations. The second grant is for River Point. If you get to get

still get

out that of that done. Grant. So we've delayed some work and some things. So that's what this grant would be proposed to do. Basically, a lot of, dirt work, getting rid of contaminated soil, bringing in clean fill, but also helping to offset the cost of things like putting in the pavement for Chicago Street and some other areas that would act as the environmental cap. That one we're thinking probably around $2,000,000 might be higher. Again, based on what work we get this year, what fill we can bring in this year under the current project.

Yeah. I can speak on behalf of this. This was a grant that a while back we question.

I

city. And

make to to

secured for this project that has a 0% match, which is called TRiM, TRiM. Ultimately, it's going to be zero liability in the city. So we are just looking to enter into sign the contract or authorize the mayor to counter sign the contract as the authorized signature. That was actually set that I do not I can find that out. I was about to say 70,000, but I know that's not true.

I know it's more than that. So I can get that number for you and email you if you prefer. Sure. Sure. If you're okay I'd like to follow-up with Brock on that and get those details and email you back if that works.

So

just so you know too, while 100% of the room tax collections are going to the room tax commission. Room tax commission when they approve their budget historically gives money to the general fund as well. That 30% we just held and kind of went to the general fund, right? Whatever we did, you're still getting money into the general fund from room tax dollars even with this change. So for special events, the RAR, I think it's $25,000 So we take from the room tax commission, room tax dollars, and put into the general fund. But there are no general fund dollars being put into through tax commission or anything that funds what the room tax commission funds.