04.17.23 MEETING MINUTES - Laserfiche WebLink

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Minutes of the Regular Meeting of Council Monday, April 17, 2023 Page 4 We ended 2022 with total outstanding debt of $2.4 million, down from $16.3 million in 2010. We currently have sufficient funds set aside in the debt retirement fund to pay off our remaining debt and will do so when it is economically beneficial and permissible. Given the current situation, Finance Director Ron Wynne has determined that it makes more sense to hold onto these funds rather than pay off the debt early. I point out that, since 2016, when I first took office, the Village's general fund balance grew from $12.3 million to the current $41.9 million at the start of this year. This did not just happen randomly and is the result of careful planning and even more careful spending. My administration has been conservative about spending these past seven years. Even though no one could have anticipated the pandemic and the loss of income tax revenue that resulted from it, we knew that we had many of our eggs in one basket and had already been working to diversify our business base and build reserves. It is that pre -planning that is allowing us to maintain our level of services despite the current revenue downturn. Keeping in mind the needs of our citizens and the services they value, we have spent wisely, being careful not to squander our money. And when the pandemic hit, not knowing then that the work -at-home trend would be as contagious as COVID, we spent cautiously and judiciously, limiting capital projects; reducing budgets and maximizing grant opportunities. 2022/2023 CAPITAL PROJECTS. As I mentioned, when Covid hit, most projects were put on hold or slowed down substantially, but we are still managing to take advantage of grant money as it becomes available to get things done. Civic Center ADA Improvements. Two separate grants from the State of Ohio, each for $100,000, were used to make improvements to the Civic Center. The construction to expand and upgrade the main restrooms in the building to make them ADA compliant is now complete. The restrooms were expanded into the kitchen and the kitchen received a much -needed facelift. I am happy to report that during 2022 the Village successfully applied for an additional $250,000 grant from Cuyahoga County to continue working on improvements to the Civic Center. This County grant utilized Federal funds from the American Rescue Plan Act that were distributed to communities throughout Cuyahoga County. Our grant application focused on Civic Center ADA and energy efficiency improvements, including exterior door and window replacements, a new HVAC unit, interior door replacement, ramp construction for access to Reserve Hall, and website upgrades for further ADA compliance. Improvements at The Grove. The County offered a second round of ARPA funding in February 2023 and we applied for $250,000 to install permanent restrooms at The Grove. Electric service, water lines and sewer lines had already been installed at the site pre- COVID in anticipation of permanent restrooms so, if this grant is successful, we will be able to move forward with this needed infrastructure project, potentially later this year. Another, smaller upgrade to The Grove this year is the addition of a dedicated area for food trucks. The food truck area will be located on the north side of the band shell and