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HomeMy WebLinkAbout02-10-1997 Meeting I I I FINANCE & APPROPRIATIONS COMMITTEE COMMITTEE ROOM - February 10, 1997 1:00 P. M. PRESENT: Hons. Larry E. Sconyers, Mayor; J. Brigham, Chairman; Handy, Vice-Chairman; Bridges and Beard, members; A. B. McKie, Jr., Comptroller; Jim Wall, Attorney; Walter Hornsby, Asst. Administrator; Mary Grady of the Finance Department; Lena Bonner, Clerk of Commission and Nancy Morawski, Deputy Clerk of Commission. Also Present: Sylvia Cooper of the Augusta Chronicle, Gale Mino of WBBQ Radio, George Esko1a of WJBF Television and Hons. Todd and Zetterberg, Commissioners. The Clerk: We have four items to add to the agenda and an item to approve a subordination agreement for the Landmark Apartments. Mr. Bridges: I move we add these to the agenda. Mr. Beard: Second it. -Motion adopted unanimously. The Committee first considered approval of the Resolution regarding the 1997 Annual Appropriation Requirement for participation in the GMA Lease Pool Bond Series 1990 and an Appropriation Certificate regarding the GMA equipment leasing program. Ms. Grady: This is the GMA lease pool program and we have to renew it on an annual basis. It is budgeted but it is also offset with some interest income. Mr. Beard: I so move. Mr. Bridges: Second. Motion adopted unanimously. The Committee next considered a request for a waiver of penalty by T-Bonz Management Company. Mr. Wall: The company says this bill was added to a stack of bills for January 15. It was their error in not paying it on time and I do not recommend approval of waiving the penalty. Mr. Beard: I move we disapprove it. Mr. Bridges: Second. Motion adopted unanimously. A request for waiver of penalties and interest of Cornerstone Realty Income Trust, Inc., was read. I Mr. Wall: We were in error on this one; it was mailed to the wrong address. They have requested a waiver of penalty and interest in the respective amounts of $8,600.75 and $1,720.16 and it has been our policy to waive only the penalty and not the interest so I would recommend that we waive the penalty only. Mr. Bridges: I so move. Mr. Beard: I second it. Motion adopted unanimously. The Committee next discussed authorization to send two representatives for Augusta-Richmond County to the Energy Communities Alliance Conference in washington, DC on March 6 and 7, 1997. The Clerk: This includes travel, registration, lodging and per diem expenses. Mr. Todd: I believe that we should participate in this conference which will discuss DOE sites and their missions. We have a site in this area which could benefit from the discussions at this conference. I would propose that we send two people from I this area, one being Mr. Pen Mayson, Jr. who is retired from SRS and has much knowledge of the tritium processing procedures involved at that site. The other is former Mayor Charles DeVaney who has been involved with this group for several years and has many contacts within the organization. Mr. Beard: I don't have a problem with the meeting but maybe some of us should attend who will be attending another meeting in Washington at that time. Also, shouldn't the Administrator attend as well? Mr. Todd: Yes, he should and I would hope that he will. I would encourage everyone who can to attend the meeting but these two individuals would definitely be there to represent us and the concerns of our area. I will also be staying another day to attend as well. Mr. DeVaney has said that he would only ask that we pay for his registration and he will be responsible for his other expenses. But we would need to reimburse Mr. Mayson for his expenses. Mr. Bridges: I move that we approve these two individuals to attend the meeting and allow anyone else who may be attending meetings in the area to go also, as well as the Administrator. Mr. Beard: Second. I Motion adopted unanimously. I I I Mr. McKie reported that work on the permanent budget is continuing and that a work session with Commissioners is needed to discuss certain issues. It was the consensus of the Committee that the Clerk poll Commissioners and set a time and date for the work session. The Committee next considered a motion to approve subordination of second mortgage to refinancing of first mortgage by HUD for Landmark Apartments and agreement to other HUD conditions. (Mr. Handy enters the meeting) Mr. Wall: This is a subordination agreement and dates back to 1984 when there was a loan of $500,000 through the City to Mark Development. It was a second mortgage and the property owner now wants to renegotiate the first ,mortgage. They have been renegotiating and now have a March closing date on the first loan. The loan is currently in default and I still think that it is a good business decision to make the loan and to agree to the subordination. They will be upgrading the apartments at a cost of about $300,000. After further discussion, Mr. Beard: I so move. Mr. Bridges: Second. Motion adopted unanimously. ADJOURNMENT: There being no further business, the meeting was adjourned. Lena J. Bonner Clerk of Commission N~