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277 <br /> <br />NOTICE OF SPECIAL MEETING <br /> <br />A SPECIAL MEETING OF THE COUNCIL WILL BE HELD ON Wednesday, <br />September 2, 1987 AT 7:30 p.m. IN THE Basement Conference <br />Room. <br /> <br />THE PROPOSED AGENDA IS AS FOLLOWS: <br /> <br />Joint meeting with CDBG Task Force <br /> <br />Work session - Children and Youth Task Force <br /> <br />BY ORDER OF THE MAYOR <br /> <br />BY Jeanne Cox (siqned) <br /> <br />BASEMENT CONFERENCE ROOM - September 2, 1987 <br /> <br /> Council met in special session on this date with the <br />following members present: Mr. Barnes, Mr. Buck, Mrs. <br />Gleason, Dr. Hall, Mr. Towe. <br /> <br />JOINT MEETING WITH COMMUNITY DEVELOPMENT BLOCK GRANT TASK FORC~ <br /> <br /> Mr. Louie Chapman, Assistant City Manager, stated that <br />approximately $309,000 to $350,000 will be needed to <br />renovate the sixteen sites proposed for scattered public <br />housing and that Community Development Block Grant funds <br />are a potential source of funding for the renovations. <br /> <br /> Mr. Buck stated that the scattered site program is a <br />two-phase program. First, the Housing Authority will <br />acquire and rehabilitate existing residential properties. <br />Second, the properties will be used as subsidized rental <br />housing. Mr. Buck stated that staff had considered more <br />than 100 properties initially, but many had been eliminated <br />because it was felt that they were likely to be acquired and <br />renovated by the private sector. Mr. Buck stated that the <br />key factor for Council in deciding on the properties to be <br />accepted for the program was their impact on the surrounding <br />neighborhoods. <br /> <br /> Mr. Chapman listed the following additional funding <br />needs that the City will be facing in the near future: <br />$385,000 - 10th and Page Street rehabilitation project; <br />$250,000 - C & 0 Railroad property acquisition; and $100,000 <br />- Minority Business (loan assistance program). <br /> <br /> Mr. Gary O'Connell, Deputy City Manager, stated that <br />the staff is in the process of closing out the year-end <br />finances for the City. Mr. O'Connell stated that the City <br />is presently in a healthy condition, but has always <br />maintained a minimal fund balance which helps maintain the <br />City's high bond rating. Mr. O'Connell stated that the <br />staff is concerned about the City's ability to fund all of <br />the projects discussed by Mr. Chapman and to maintain the <br />desired minimum balance in the General Fund. Mr. O'Connell <br />statedlthat the staff recommends use of CDBG funds for the <br />renovation of the scattered site housing project. <br /> <br /> Following a discussion of the implications of reducing <br />the minimum balance in the General Fund, it was the <br />consensus of Council that they would not agree to reduce the <br />minimum balance in the General Fund. <br /> <br /> Mr. Buck stated that the issue to be confronted by both <br />the CDBG Task Force and the Council is that there are many <br />good programs proposed which exceed the amount of funds <br />available and therefore priorities will have to be set. Mr. <br />Buck stated that previously CDBG funds have been used as <br />seed money for programs that were later funded out of the <br />City's General Fund and there are questions about how much <br />longer that type of funding can occur. Mr. Buck stated that <br />a good ~example of this is the rental occupancy program <br />recommended to be funded out of CDBG funds but which would <br /> <br /> <br />