04/18/2016 Meeting Minutes - Laserfiche WebLink

Home Browse Search

Minutes of the Regular Meeting of Council Monday, April 18, 2016 Page 4 Other businesses, such as QED, have expanded within Mayfield Village to our mutual advantage. In addition, new Uusinesses are making Mayfield Village their home. For example, Mars Electric is moving its headquarters to Beta Drive, and a new dental clinic setting up shop in the heart of town will focus on a holistic approach to dental health. Unfortunately, space does not penllit ine to name all Mayfield Village businesses in this article. One of my goals is to get to know our business base better and to work oil increasing a collaborative approach to helping each other. I believe in supporting local businesses and busiiiess owners, and we have begun making strides to inci•ease our use of local business to supply our needs. We inust also go to bat for our businesses when the opportunity to help them arises. For example, since RTA recently announced that is considering eliminating service to Mayfield Village of the only route it currently provides-rush hour seivice to our businesses along Wilson Mills and Beta Drive-I have written letters, gone to a local meeting and contacted our businesses to oppose the eli-inination of this route, wliich gets employees to and from work here. Our businesses need a ready work force of individuals who are able to get to work and hoine. I ain continuing to fight for the Nuinber 7 in order to preserve this ability. Hoine to a diverse range of small and mid-sized businesses as well as to a world headquarters; and to doctors, lawyers, accountants and other professionals and business people, Mayfield Village offers our business core a variety of services and amenities, including providing assistance for obtaining loans and grants, inutually beneficial economic incentives, a strong fiber optic network; hiking trails, parks and recreational facilities, and a prime location just off 271. While we inay not be able to take credit for the placeinent of I-271, the developinent of other assistance, assets and amenities that would prove useful to our business neighbors was looking farther ahead -- not to the next turn, but to the ones after that. Debt 12eduction anci Reserves. Based on our historic income figures and our cui7-ent debt, as well as Mr. Wynne's financial analysis of prevailing trends, we are on track to reduce current debt according to its terms (which make prepayment unfavorable) as well as to maintain our reserves this year. In addition, although we have plans to complete or begin several capital projects this year (the Coinmunity Room, road projects), we are on target to pay for those projects with money already set aside or with current incoine. In short, we have no plans to borrow inore money or to incur additional debt. Capital Improvements and Spending. The completion of the 2015 _Road Project (Bonnieview, Glenview, Beech Hill) has begun and hopefully will conclude soon. The 2016 Road Project, to include Hickory Hill, Blueberry Circle, Woodbine Circle and Oakton Circle, as well as the conversion of the ligllt at SOM and Sandalwood to a full tiine working light, and the addition of audible signals at soine intersections, will begin soon. ODOT will be resurfacing a portion of SOM Center Road within the Village, a project set to begin later this year, mostly on its dime. We will be covering certain expenses, such as curbing, which do not technically fall under the repaving umbrella. The Community Room is currently on schedule and on budget and should be coinplete in August. We are planning on a cominunity open house for Sunday, August 21. Mark your calendars now -- more details to come later. We have worked hard to plan al1d build a new