11/08/1995 Meeting Minutes - Laserfiche WebLink

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tJ Council Minutes of 11/8/95 Head coach Chuck Holliday and team captain Jenny Fleischer thanked the Mayor, Council and the team parents for thou recognition and support. 3) North Olmsted has joined with an area of Cleveland, CTarfield Heights and East Cleveland in a computer program to promote economic development. Businesses wishing to locate in these areas will be able to access information about available properties and facilities. This elt is being coordi$ated through the Cuyahoga County Planning Commission, which has received a grant from the Cleveland Foundation for $25,000. Each city's share of the cost will be $3,000. Finance Director Burns: 1) The pre-claw for the $175,000 judgment notes was done today. The notes were sold at an ffitere~ rate of 4 1/2%. 2) He recently submitted to Councd a report comparing estimated and collected revenues. The trend of being ahead on collected fficome taxes is continuing. Although collections for October were $12,000 less than projected, we are still approximately $450,000 ahead of estimates. 3) Billings for sewer fees have been less than anticipated due to less usage. 4) The second half of the year distribution from estate taxes has been received. A total collection of $300,000 had been protected, and actual collections were $373,000. An end of year positive balance in the General Fund is projected. 5) Two provisions of the proposed budget under consideration by Congress will affect the city and city employees: a. One provision being considers by the House Ways and Means Committee deals with deferred compensation plans that municipa~ites and other governmental amts offer to employees. Under the Internal Revenue Code, those monies belong to the political subdivision and not to the eloy~. The importance of this provision became evident this year when Orange County, California went ba~rupt. The Orange County employees found that their contributions to deferred corr~ensation accounts were available for the debts of Orange County. The Haase Ways and Means Committee has put a provi~on in their version of the budget bdl which would make deferred compensation plans trustee- type plans. This action would take the money out of the control of political subdivisions and put it under the control of the participants in the plan. The Senate Finance Committee has no provision with regard to this mutter. b. The second issue involves Medicare. Employees hired after April 1, 1986 are subject to Medicare; those hired prior to that date are not subject to Medicare. Under the Senate Finance Committee plan, all employees of the city would become part of the Medicare program. This would have an impact on the city in that our share of the costs, 1.46%, would have to be paid on all salaries. The House Ways and Means Committee proposal does not include this provision. Mrs. Beringer, Chairperson of the Building, Zoning and Development Committee: 1) The committee met on November 2. In attendance were committee members Nashar and Beringer, Buildmg Commissioner Conway, Assistant Building Commissioner Rymarcyz~, and Assistant Engineer McDermott. Agenda items were as follows: a. Kovalak commercial building, sublot 10, North Olmsted Indu~rial Parkway, a proposal is to construct an office/storage lnrilding. Ms. Davis, representing the architect, was in 2