03/03/2026 Meeting Minutes - Laserfiche WebLink

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redevelopment incentives, and confirmation of mall authorization. The committee favorably recommended to Council by a vote of 2-1. • Next on the agenda was Ordinance 2026-15, Holiday Inn TIF reimbursement. The Committee considered a development and TIF reimbursement agreement related to the renovation of a Holiday Inn property within the existing 40B TIF district. The proposal would reimburse the developer for demolition expenses in an amount not to exceed the lesser of 50% of demolition costs or $225,000.00, reduced from an originally proposed $350,000.00. Discussion focused on the retroactive nature of the request, the increase in property valuation that led to higher tax obligations and additional TIF revenue, and the methodology used to determine the reimbursement amount. Council requested a detailed financial breakdown and revenue analysis before proceeding, and the ordinance was held in committee by a vote of 3-0 pending further clarification, and the Finance Committee concluded at 8:00 p.m. Next, the Finance Committee met on Saturday, February 28, 2026, at 8:00 a.m. to discuss Ordinance 2026-12, the Capital Improvements Budget, and Ordinance 2026-19, the Permanent Appropriations. Present were all of Council, and at various times throughout the day, members of the Administration or their designees were present. • This was a six -and -a -half-hour Committee meeting, so it's difficult to summarize everything discussed, but I will do my best to note the highlights. With regard to Ordinance 2026-12, the Capital Improvement Budget, each department briefly explained their capital needs. The City Hall fencing was removed, and a grant for Veterans Memorial at North Olmsted Park was added for $246,000.00, of which 90% will be reimbursed. Council asked the Safety Director to provide some statistics and costs with regards to securing some traffic -calming devices to be set in place around the High School. Council feels strongly that we should look into some of these devices to ensure the safety of our school kids driving and walking, as well as providing peace of mind to the neighbors in the area. • With regard to Ordinance 2026-19, which is the permanent appropriations. Each department provided high-level explanations for their budgetary needs, many being to continue funding ongoing projects and normal operating costs. Some of the amendments made to the permanent appropriations were an increase of $75,000.00 for an HVAC Fix at the Recreation Center, an increase of $98,000.00 in police to replace a main power switch, and an increase in Fire for miscellaneous equipment not originally included. Council is looking forward to future committee meetings to hear more information on the funded projects, as it is difficult to fully comprehend the details necessary to determine where taxpayer dollars are best expended. Amendments may be necessary to one or both budgets at that time. So, at this time, I move to amend Ordinance 2026-12, the Capital Improvement Budget to include the removal of the City Hall Fencing and adding the Veterans Memorial Grant, and ask for a second. Councilman Limpert: Second. 03-03-25 Council Meeting Minutes - Page 7