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HomeMy WebLinkAboutMinutes - 09/10/2018 - Finance and Personnel CommitteeFINANCE AND PERSONNEL COMMITTEE Monday, September 10, 2018 Municipal Center Classroom, 5:30 PM Call to Order: The meeting was called to order at 5:32 p.m. Roll Call: Deputy Clerk Meadows called the roll. Roll call: Members present: Chairman Curry, Alderman Schaefer and Alderman Mihevc. Also in attendance: Finance Director Lynch, Human Resource Director Campanella and Deputy Clerk Meadows. Public Comment: None. Motion to approve the September 10, 2018 Finance and Personnel Committee meeting report. A Motion was made by Alderman Schaefer and seconded by Alderman Mihevc to approve the September 10, 2018 meeting report as presented. Roll call: Vote: 3 ayes: Alderman Schaefer, Alderman Mihevc and Alderman Curry. 0-nay, 0-abstained. Motion carried. Discussion and Approval of Revised Investment Policy Finance Director Lynch reported that Staff had researched investment polices from other municipalities as well as best practices produced by the GFOA. She noted that the draft investment policy was based mostly on the GFOA sample policy which contains all of the State Statutes as required by 30 ILCS 235, "Public Funds Investment Act". She asked if the Committee Members had any questions or comments on the draft investment policy. The Committee Members briefly discussed the investment policy's amendments. There being no further discussion, a Motion was made by Alderman Mihevc and seconded by Alderman Schaeffer to present the draft investment policy to the full City Council. Roll call: Vote: 3-ayes: Alderman Mihevc, Alderman Schaeffer and Alderman Curry. 0-nays, 0-abstained. Motion carried. Mayor Jett joined the meeting at 5:45 p.m. Discussion of Sales Tax Incentive Policy/Procedures Director Lynch provided the Committee Members with a worksheet which listed the current incentive agreements that the City has with some of the local businesses. The majority of the current sale tax incentive agreements has thresholds on the tax revenue generated and the percentage of the rebate along with a term limit. The Committee discussed in length the appropriate incentive limits and terms of the agreements. MayorJett suggested Staff work with Director Martin since he handles the marketing of the City's available commercial and industrial properties. Director Martin would have the experience and knowledge to suggest appropriate incentives that would assist him in enticing new or retaining existing commercial and industrial businesses. This matter will be discussed in more detail at an upcoming Finance and Personnel Committee meeting. Any Other Business. There was no other business to discuss. Staff Reports Director of Human Resources Campanella provided the Committee Members with an update on the City Planner position. She reported that due to low unemployment she has only received a few applications and most of the qualified applicants are not currently residing in the area. However, they did receive one application from a current Planner Intern. Engineer Strange was going to schedule an interview and she will report back. Motion to adjourn the meeting. There being no further public business to discuss, a Motion was made by Alderman Schaefer and seconded by Alderman Mihevc to adiourn from the public meeting at 6:40 p.m. Roll call: Vote: 3-ayes: Alderman Schaefer, Alderman Mihevc and Alderman Curry. 0-nays, 0-abstained. Motion carried. Respectfully submitted, Debra Meadows, Deputy City Clerk Reviewed and approved this day of 01r%7m,94' 2018.