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MINUTES OF THE FINANCE COMMITTEE <br /> April 27, 2020 <br /> Online Broadcast Meeting <br /> Present: Councilmembers Bullock, Litten, &Neff <br /> Also Present: Councilmembers Kepple, Rader, & Shachner, Finance Director Rancatore, Mayor <br /> George, Chief Dunphy, a couple members of the public, Clerk Bach, & Deputy Clerk Lascu <br /> taking minutes <br /> Start time: 5:30 p.m. <br /> AGENDA <br /> Communication from Mayor George and Councilman Bullock regarding evaluating <br /> additional economic assistance to relieve the impacts of the coronavirus pandemic. <br /> (Referred to Finance 4/6/20) <br /> Director Rancatore gave a brief overview of the state auditor's report on the city's OPERS <br /> pension system. The audit reviewed its functioning during the 2019 calendar year. <br /> Chairman Bullock and Director Rancatore spoke about the importance of the city's Audit <br /> Committee and stated that there is an intention to continue citizen input on that committee. <br /> Director Rancatore reviewed the rental relief program implemented by the George <br /> administration during the COVID-19 crisis. 97 checks were cut to businesses located in <br /> Lakewood,totaling about$155,000. $39,000 of those funds were CDBG dollars and <br /> $116,000 came from the city's economic development fund.Another check run is expected <br /> this week. This first round of funding should come in under $200,000. Chairman Bullock <br /> questioned whether the program was taking new applicants. Mayor George indicated that <br /> Phase 1 applications have been closed for a few weeks. Further discussion is anticipated on <br /> whether a Phase 2 is needed. <br /> Chairman Bullock inquired as to the remaining balance left in the economic development <br /> fund. Mayor George indicated that her administration has pulled back from some planned <br /> projects in an effort to not draw down the fund too low. She intends to leave well over <br /> $300,000 in the economic development fund. If a Phase 2 of the rental assistance program <br /> occurs, it would be paid entirely with CDBG dollars. <br /> Councilmember Neff asked for the list of the 97 recipients that benefitted from the rental <br /> assistance program. Mayor George expressed a desire to run the request by the Law <br /> Department prior to releasing the information. She disclosed that she did not look at the <br /> names of any recipients prior to checks being cut. <br /> Councilmember Litten asked if there is an eligibility issue for the rental assistance program <br /> if a business owner also owns the building in which he or she operates. Mayor George <br />