HomeMy WebLinkAbout02-10-1997 Meeting
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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.
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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.
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Motion adopted unanimously.
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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
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