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Council Minutes of 06-18-24
<br />security at the North Olmsted store for the next six months. The store will also enhance
<br />trainings for all employees in an attempt to avert another tragic situation. Director Scofield and
<br />the Mayor will be working together to organize a series of business roundtable meetings for our
<br />local business leaders, and will include topics that are relevant to both large and small
<br />businesses, including theft loss prevention, security, and the need for increased employee
<br />training. The meetings will be scheduled later summer.
<br />• Mayor Jones informed all that the first concert of the 2024 Summer Concert Series was
<br />extremely well attended, with an estimated attendance close to 1,000 people. The next concert
<br />will be lune 29, 2024, at 6 p.m. featuring the Diamond Project, a Neil Diamond cover band at
<br />North Olmsted Community Park.
<br />• City Hall will be closed on Wednesday, lune 19th, in observance of Juneteenth.
<br />• The Mayor noted the Recreation and Public Engagement Department hosted the Touch -A -Truck
<br />event, which was also extremely well attended by members of the North Olmsted community,
<br />noting that the Service Department did a yeoman's job bringing out the various vehicles in the
<br />Fleet.
<br />• The North Olmsted branch of the Cuyahoga County Public Library is working with the Hospice of
<br />the Western Reserve to offer free in-person grief counseling on Wednesday, June 19", and
<br />Friday, June 21", from 1:30-4:30 p.m. for those in our community who may be in need.
<br />Assistant Director of Law O'Malley:
<br />• Mr. O'Malley provided details of a settlement agreement between the City and the Kovach
<br />Group, also known as Sacred Waters Kava Bar. After the moratorium placed on November 1,
<br />2022, to restrict permits for unregulated psychoactive substances, including kava and kratom,
<br />the Kovach Group contested, which lead to a series of appeals, which the City won.
<br />• As part of the settlement, the Kovach Group agreed to withdraw their appeal, cease selling
<br />prohibited substances onsite, and to close by September 1, 2024. The City agreed to delay a
<br />nuisance abatement action. Additionally, David Michael Kovach is facing pending drug
<br />trafficking charges from an incident on January 22, 2023. Mr. O'Malley commended the
<br />Administration and Council for their efforts to regulate substances not addressed by federal and
<br />state laws.
<br />Director of Finance Copfer:
<br />• Director Copfer reported that on June 11, 2024, that the City sold $10,575,000.00 in notes. The
<br />all -in TIC (true interest cost) for the issue was 4.493%. The total cost of the issuance was
<br />$55,500.00 which was paid through the premium generated in the sale. Director Copfer noted
<br />that they chose to use the OMAP program that was authorized in the notes for $5,000.00 fees
<br />and reporting with S&P, and the money was well spent; as the market in recent weeks, before
<br />the sale, had favored rated notes. Director Copfer stated the City received $36,000,000.00 in
<br />orders for the $10,575,000.00, which is essentially three times what was to be sold, which
<br />allowed the City to lower the yield to save a minimum five basis points. Director Copfer ended
<br />by stating that using the OMAP program didn't help the City a lot, but it saved us more than it
<br />cost us.
<br />Councilman Limpert, Chairman of the Building, Zoning and Development Committee did not have a
<br />report but asked for a moment of personal privilege to congratulate the NOSO on holding a successful
<br />NOSO Cup, which is an event he believes began before his birth, and noting that he attended for a
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