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85 <br /> <br /> Mr. Carter Myers, resident of Albemarle County, <br />supported providing the funds to the Paramount and felt it <br />would be a focal point of downtown. Mr. Myers noted that he <br />was planning to contribute financially to the Paramount's <br />restoration. <br /> <br /> As there were no other speakers the public hearing was <br />closed. <br /> <br /> Rev. Edwards requested that staff make a recommendation <br />prior to the next meeting regarding the use of the historic <br />preservation funds. <br /> <br /> Mr. ToScano asked what the cost would be to restore the <br />Paramount's marquee and Mro Wood stated that he would provide <br />a rough estimate by the next meeting. <br /> <br /> Responding to a question from Mr. Vandever, Mr. Hendrix <br />stated that the fund had earned interest and now amounted to <br />$55,876.27. Mr. Hendrix stated that he assumed a revolving <br />fund would work by loans being made from a capital account <br />for which rules would need to be established. Mr. Hendrix <br />stated that staff would want to investigate other financing <br />opportunities which might be available and noted the amount <br />available was small for establishing a revolving loan fund. <br /> <br /> Ms. Waters stated that she was still ~inclined to give <br />most of the funds to the Paramount, especially because of the <br />substantial private donations it has received and added that <br />she would also like to see funds set aside annually for <br />historic preservation. <br /> <br /> The final vote on the matter was scheduled for the next <br />meeting. <br /> <br />PRESENTATION: CITY MANAGER'S PROPOSED FY 92-93 BUDGET <br /> <br /> Mr. Hendrix made a presentation of the proposed FY 92-93 <br />budget: $53.7 million in the General Fund, $7.6 million in <br />the capital budget, no increase in any tax rate, $19.8 <br />million for schools, funding for a 3% salary increase set <br />aside, funds to cover a 20% increased in health care costs, <br />37 fewer staff positions, and approximately a 4% increase <br />provided in social services and outside agencies. <br /> <br />PRESENTATION: SCHOOL BOARD'S PROPOSED FY 92-93 BUDGET <br /> <br /> Mr. Rauzelle Smith, Chairman of the School Board, stated <br />that the School's proposed budget totals $36,475,000, which <br />includes a total of ~19,883,902 from the City. <br /> <br /> Responding to a question from Mr. Toscano, Mr. Herb <br />Cottrill, of City School administration, stated that at least <br />an increase of $37,000 from the state and $1 million from the <br />state and federal governments for regional programs for which <br />the City Schools act as fiscal agent, are expected. <br /> <br /> Ms. Waters stated that she thought additional funds were <br />going to be made available to the City Schools and Mr. <br />Cottrill stated that additional funds could be made available <br />but the amount is not known at this time. Mr. Cottrill noted <br />that the proposed budget was built on a flat budget and did <br />not include any additional funds from the state. <br /> <br /> Mr. Vandever stated that it was his understanding that <br />the~State~-may provide~funding for programs which the City has <br />funded in the past and City funds could be freed up if this <br />state funding is provided. Mr. Vandever questioned whether <br />the School Board have examined the Standards of Quality for <br />possible savings. <br /> <br />Mr. Smith stated that the Standards of Quality have been <br /> <br /> <br />