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Colonies PID board recommends its 2020/21 budget 4-1 after questioning the City's administration fee
Reviewing the 2020/21 budget and five-year service plan, the Colonies board held "a lengthy discussion" with City staff about an increase in the City's administration fee, which Finance said came from an indirect cost plan, and asked for a separate meeting on it. Facing a long-term negative fund balance, the board chose to move a $112,500 payment to 2021/22 and a planned $1,500,000 debt issuance to 2025/26 instead of raising the rate from $0.10 to $0.12 per square foot. The amended budget passed 4-1.[1]
What the sources say
- ✓ Verified
Given "the long-term negative fund balance being shown by the proposal budget," the board chair offered two options: postpone a $112,500 payment another year or raise assessments from $0.10 to $0.12. The board moved the payment to 2021/22 and asked that a $1,500,000 issuance be pushed to 2025/26 (Finance put the interest rate at 4 or 5%). The amended 2020/21 budget and five-year service plan passed with four members voting aye and the chair voting no. [1]
- ✓ Verified
The minutes record "a lengthy discussion regarding the increase in the City's Administration fees" between the board and City employees; Finance explained "the indirect cost plan formula used to account for all city employees and their time spent on the PID," and the board asked for a second meeting with documentation of the calculations. [1]
- ✓ Verified
On August 26, 2020 the board unanimously recommended Green Plains Design's low bid for the Colonies Unit 72 common-area improvements, $385,000 plus a $17,800 alternate for additional concrete, $402,800 in all, against an estimate of $363,150; staff said the recommendation would go to the City Council. Rockrose had agreed to oversee the unit's development. [2]
- Award
- $402,800
