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120 <br /> <br /> Ms. Daugherty recommended that either the job requirements of the position be scaled <br />backed or the salary increased. <br /> <br /> Mr. Toscano suggested exploring the possibility of a job share with the University of <br />Virginia Real Estate Foundation. <br /> <br />No support was expressed for lfiring a executive search firm. <br /> <br /> It was agreed that efforts should be made to advertise the position outside of Virginia <br />and that there should be more flexibility in the job description and salary. <br /> <br /> In the interim, Ms. Daugherty recommended: 1) that those business leaders who wrote <br />positively about the business improvement district be contacted to ask for their suggestions <br />on how to proceed; 2) that staff identify any goals of the Visitors Center that could be <br />spearheaded by contracting with a private firm; 3) that staff continue to contact and make <br />attempts to retain businesses in the City, and report to Council on these efforts; and 4) that <br />staff talk to Kirby Hutto about the possibility of the Charlottesville Downtown Foundation <br />increasing the number of events downtown. <br /> <br />OTHER BUSINESS <br /> <br />Ms. Slaughter asked for more information on the General Relief Program. <br /> <br /> Mr. Vandever asked about the status of continuing the Greenbelt Trail from Free <br />Bridge to Pen Park. <br /> <br /> The meeting was adjourned. <br /> <br />Pre'dent <br /> COUNCIL CItAMBER - January 17, 1995 <br /> <br /> Council met in regular session on this date with the following members present: Ms. <br />Daugherty, Ms. Slaughter; Mr. Toscano, Mr. Vandever. Absent: Rev. Edwards. <br /> <br />PUBLIC <br /> <br /> Mr~ Tom Hill, 1204 Rugby Road, applauded Council's decision not to hire a consultant <br />to find an economic development director, and recommended that a decision on building the <br />proposed grade separated interchange at Route 29 and Hydraulic not be made until a western <br />bypass is constructed. Mr~ Hill drew attention to the City's pension plan's unfunded liability, <br />expressing concern that the level has risen to 84% unfunded as a percentage of the City's <br />payroll. Mr. Hill advised Council to contact some of the financial experts within the <br />community to see if his concerns are justified and, if so, ask them to come up with a <br />reasonable solution to the problem. <br /> <br /> In response to Mr. Hill's concerns, Ms. Rita Scott, Director of Finance, explained that <br />the pension plan, which currently has net assets of $32.6 million at cost, is healthy. Ms. Scott <br />stated that the unfunded liability increased as a result of a second early retirement program <br />and other changes which increased benefits. Ms. Scott noted that in 1992 a more <br />conservative method of funding the unfunded actuarial accrued liability was adopted, funding <br />it over a fixed 30 year periOd (versus the former 40 year rolling period), and a decision was <br />made to fund any future increases in benefits over a fixed 20-year period. Ms. Scott stated <br />that she had discussed Mr. Hill's concerns with the actuaries who had indicated that they <br />were not concerned about the percentage of unfunded liability as it is not unusual for it to <br />increase or decrease periodically, adding that they felt the City is moving in the fight <br />direction. Ms. Scott added that the actuaries noted that the City, unlike many private entities, <br />is on-going and not subject to closing down in the future. <br /> <br /> <br />