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280 <br /> <br />be used for the park renovation once the renovation is designed, with Council making the <br />final decision on the plans. <br /> <br /> Mr. Cox expressed concern that insufficient funds are budgeted for traffic calming <br />projects. <br /> <br /> Ms. Slaughter noted that traffic calming projects need to be planned and neighborhood <br />consensus reached before large amounts of money are spent. <br /> <br />Mr. O'Connell said that many traffic calming projects are very inexpensive. <br /> <br /> Ms. Richards said she would like to see more funded for traffic calming in the future if <br />not this year. <br /> <br /> Ms. Linda Peacock, Assistant City Manager, said that $50,000 remains in this year's <br />traffic calming budget. <br /> <br /> Responding to a question from Ms. Richards, Ms. Peacock explained that the <br />neighborhood initiative fund is meant to complement and supplement CDBG funds. <br /> <br /> Mr. O'Connell said that he feels marketing of tourism for Charlottesville and Albemarle <br />has been dramatically underfunded, and proposed that an aggressive, joint marketing effort be <br />funded by increasing the transient lodging tax in both localities to 5%, which would provide <br />$150,000 in additional funding from both Charlottesville and Albemarle County. Mr. <br />O'Connell said that increasing the lodging tax will be formally considered by Council in May. <br /> <br /> Mr. Cox asked Councilors for their views of Council's reserve funds. <br /> Ms. Slaughter said that the City Manager had been asked by Council to present a <br />budget that spends less than it takes in, and she feels the reserve does not need to be <br />designated at this time, but could be used for one-time expenses at a later date. <br /> <br /> Mr. Toscano said he would call the reserve a "strategic investment account" to be used <br />1) to create long-term revenue; and 2) to change the economic mix in the community. <br />Possibilities to accomplish this would include economic development projects; acquiring <br />development rights for vacant land; providing no interest loans to homeowners to add on to <br />their homes; to provide no-interest loans to convert duplexes to single family homes; and to <br />acquire property to convert duplexes to single family homes. <br /> <br /> Ms. Richards said she agrees with Mr. Toscano's view of the reserve funds, if they are <br />used at all. <br /> <br />Ms. Daugherty said she is has not yet decided about how the reserve should be used. <br /> <br /> Ms. Daugherty said she would like to see the Department of Social Services' request for <br />matching funds for day care approved. <br /> <br /> Ms. Peacock said that it is not yet known if these funds will be needed as the demand is <br />not yet known, and a supplemental appropriation could be done at a later time if necessary. <br /> <br /> Ms. Daugherty also supported funding the Department's request for day care for people <br />already working, adding that there is a large waiting list. Ms. Daugherty said that if we <br />expect to have a successful approach to welfare reform, day care needs to be available. Ms. <br />Daugherty said she Would like to put funding for this in the budget and pay for it with the <br />additional real estate taxes expected. <br /> <br /> Ms. Richards, Ms. Daugherty and Ms. Slaughter agreed that funding for the two day <br />care projects be added to the budget. <br /> <br />~&Qd~meeting g~as adj°urned' <br />President ~ <br /> <br /> <br />