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We're starting, Mr. Manager, we're talking about water.

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All right. With the upgrade now, the residents will have the option to log in and just go to my 360 app. This is what it's kind of the

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let me go to the homepage on the left hand side. And you would just create a, like you would create a Amazon account. You're

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in your email and create a password. Once you're in the system, you can sign up for alerts where you get a text message every day. You know, telling you what you are using. If you go out of town, you can sign up for alerts for that.

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There's something, and this would be very good for people who have second homes down here.

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That's a lot of the thumbnails I receive when they receive their villains.

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Outrights is because they did not know there was a leak.

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So it's going to be very good for the residents.

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So wait for a resident to monitor them on board and not wait for that phone call.

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Yeah.

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Someone logged in right now.

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I'll see.

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Okay.

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That's not right.

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Oh, there it is.

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Sorry.

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All right.

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This is one of our water technicians.

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Zach, he is our digger.

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He has registered.

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This is what I would look like on your side of it,

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after he registered in your account.

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You can't see your water usage confused by gallons.

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You can view it.

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You can see I'm signing for your alerts over here.

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If you're out of town, this is where you would sign up to get notification.

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if there is a worry, you can see it, you should

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be able to view it by day, you can view it by week, you can view it monthly.

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As this program has time progresses, you'll be able to compare your usage to the last year's usage to see if you're using more.

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So right here is where you can do the day ranges. So you can see daily use.

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So that's like today, that's what they're talking about.

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Right.

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There's the week for

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more of a line draft, and you can switch over your chart to, you

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do that with them.

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Just available on app.

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It's online.

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They call it the My360 app, but it's a website.

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There's a flyer right here.

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This is what's in the golden resonance.

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This is what y'all confuse.

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The address of the address is down on the bottom.

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And you can buy it.

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I'm gonna go over the next couple of days and we'll just start on again and tell us what you're like and what you're like.

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So over the next move we're Michelle and our Cudication Center putting together a marketing campaign.

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The product is called Neptune, but the actual service will be called water wise CYV.

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That's how we're going to start talking about water wise CYV.

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and we want you to take time to make sure it works out, okay?

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We don't have to put it through a ton of items, yeah.

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So we're rolling it out to basically all city employees

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who are tiny residents in city council as well.

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So please do correct your back.

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Yes, and we'd like to have the launch date

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once everybody had the chance to look at it

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in mid-August out to residents.

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So we would push on the websites on social media on the newsletter how to register this out to the public.

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I know about the user for law that you're logged in this program.

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You joined this website.

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You can sign

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up for alerts.

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It's a button you would click, and that's where you get the text messages, things like that.

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So right here, the usage first of all, this is where you can sign up for your alert,

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send me an alert when my account uses more than 200 gallons a day.

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So you would have saved settings.

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So if you're like Joel with explaining how much a toilet can use, this would send you out

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on alert.

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And you can sign up either or even lower for a text one.

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Yeah, I'll say something.

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This is actually set for Zach.

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So he wanted his every day, if his water goes above 200 gallons,

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he sends him a text message instead of a email.

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There's other thresholds on there that if you are gone for any length of time,

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let's say you're gone for a week,

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You can set it up for that specific week that you've gone, that you get alerts on text messages, or emails, or both.

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If you start using water during the time you were gone, you will get those alerts on your phone.

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And that's on the same page, yeah.

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Yeah, I think we had to complain the other day that somebody was washing their car and the next door laborers.

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We're out of town.

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So if they were using an old egg was water and I would think they would have a time,

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not good for your office.

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Yeah, it wasn't May.

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How do you, the reality is I think you all can see it to this because he does with us

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every single day and his people's water usage is testimony very consistent unless there's

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changed to happens in your house.

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Either you had a lot of increases when people started watering their lawns, irrigation and

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and it counts for a lot of stuff.

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But if you have running toilet, which is very subtle,

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and sometimes it's very, very difficult to notice,

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you will notice it out here.

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Because, again, you're gonna see that your water

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is extremely consistent, and then it's all

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some kind of spike, and rainfall is consumed a lot of it.

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Right, and that's a lot of the thumbnails I did,

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because you don't know, I mean, it could be a backback

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back then, but you never got one.

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So, this will be great, you can catch it three, and you can set it for me.

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Any other questions?

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Yes.

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I think this is great.

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Switched.

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Years ago, when it came out, looks like a significant reduction in man hours, is it possible

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to quantify how much the city stands to save on an annual basis, and will that be passed on

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to the citizens?

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Yeah.

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Well, self-sufficient, so I think the water bill is going down.

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It digges rather than checking me.

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Joe, I don't have to even monitor it.

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Again, we haven't rolled it out for the public yet,

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so we don't realize the whole sort of like efficiencies in the system.

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In general, they're just on the back and stuff.

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At least we're out of the week against the water saving.

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Yeah, to give you the list, I would have to really drive around the island for four hours just to get it in the place.

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So I don't have to, I can get a lot more than a shorter amount of time just pulling up everybody's water just to jump in the computer.

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It's actually going to be busy going to the address, finding water meter, digging it up, downloading the graph on my computer,

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then call in homeowners and say hey you know this is what's going on with your water.

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So just a busy work about a day a week is what I'm saying.

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The KL again our hope is that our residents are going to be a lot more self-sufficient when it comes to the water usage

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and she's going to get a lot of your calls something.

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I think initially it's going to be a bit of a surprise.

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I mean, as I remember, I mean, it's a shock when you get a bill, you know, I know I got a week, this will bring me a lot of that, and we'll give President's piece of mind.

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And just, you know, we have, I'll leave you just a policy, right?

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Yes, I do.

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So there is that.

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And it's half of the usage.

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It takes half of the usage and the warning usage.

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Does city will do that?

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I'll put it about a few percent.

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Yes.

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But that still results in sometimes very large bills, right?

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Yes.

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I can't see it.

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So, dear, let's help with ironing problems.

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Iron-I?

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Iron-I, sorry.

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No, ma'am, it's just too separate issue.

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Okay.

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But this, what I love about this program is the homeowner,

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if you're taking more ownership in your place,

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I wish what other than that we have is,

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we hear horror stories all the time,

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hey, I get a phone call, hey, I've been away

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from the place for a month.

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My told was done on it. Unless you fill out a proper documentation or I can help to litigate, we can't help on that.

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So I think this would be, there's a brain tool for the homeowner who's talking for sure.

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Yeah. And all that's the question for Tony. Because Tony Reader, he would ask this question.

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So right now our building unit size is 1,000 pounds and 1,000 pounds, and his request

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is that the unit size be lowered to something less so that residents can have more control.

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We are on the AMI system, definitely as possible, as you saw, measured by the gallon of the building

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and we're working on it and it would require some programing on the back end and we don't have a paid and insurable work on it.

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All right, thank you guys so much.

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Thank you.

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Thank you.

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Thank you.

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Thank you.

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Thank you.

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Thank you.

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Thank you.

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Thank you.

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We're going to talk about, if it's OK unless you guys want to talk about the rest of the agenda first, we'll just kind of jump to it if that's OK.

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Okay, it's all the agenda doesn't yet, or okay, I hope.

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Jim.

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We're just going to back up a little bit for our student

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folks and members to make sure they're able to speak with what our

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capital plan is, with what it comes to ours.

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So I think it was, seems like a couple of months ago,

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I think it was a year and a half ago, we meant to go over the

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capital plan, what our borrowing is, how much infrastructure

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production permits or capital permits you're going to do.

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And the plan that we settled on included both.

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So we have a million in capital permits each year.

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And again, with the story of silly,

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how we finance that Mr. Barrowing included a capital plan

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was a 5% annual race increase.

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And in our scenarios, we assumed that there's

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a 3% inflation when it comes to costs.

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and then other revenue was going to stay the same

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as well as any other significant changes.

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Also, about a year and a half ago,

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we contacted with Dan for a company

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for our city finance consultants.

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And what they're doing ways to do is we're viewing

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and advising our debt portfolio,

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as well as help us, they work through the water slurry

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when we looked at that a few years ago,

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and then when we actually do issue debt,

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then we'll go through that process.

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One of the things that you're looking at

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is specifically in 2024, debt issue that we have

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is revenue bond and a hit of your high interest rate

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at 6%.

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We have discussed with them starting last year

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the possibility of doing every financing

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when we get the debt issuance for the purchase

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of the fire station land back in July, we looked at this and the interest rates weren't

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worth it. We also talked about including it when we do the long-term debt financing with

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the fire station and since that instance really set the stone of when we're going to do that,

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how much we're going to do that. The discussion was the timing of it wasn't necessarily the best

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and with interest rates being the way they are right now, we've found it to be beneficial to that refinancing right now.

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And then when we talk about our water sewer financials, no surprise, operating costs continue to rise.

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Our revenue is very seasonal dependent. Like Brett was just saying, it's consistent, but it's very seasonal dependent.

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right, so if we have a very dry, had summer in where water in a lot, well obviously used

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to just going to be out, the revenue is going to be up. If people aren't water in

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it's not much, you know, revenue is going to be down. So revenue, we have 5% increase every

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January first, but our revenue, again, it's just consistent. We don't have a lot of new revenue

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sources when it comes to utility, and our infrastructure is very old. We have breaks weekly,

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and that is all draining our cash.

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So right now I'm projecting that you're going to have less than a million dollars of cash

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at the end of the year, which seems like a lot, I'm going to wish I had a million dollars

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in my checking account, but when it comes to the utility that is not about a cash, it doesn't

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leave us a lot of wiggle room.

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This turn here we had a lot of, for those breaks, what do we breaks that we weren't anticipating

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and so that to please our cash and when it comes to the budget we are basically

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budgeting to keep the lights out. We don't budget right now in Freddie

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surplus or to put anyone in savings. A lot of that has to do with it.

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The 5% increase, going over 5%, everything. We have to keep that in mind. Any questions in a little bit of that background?

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You said the life sentence, the cash, and year in, is that fiscal year, and the fiscal year.

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So at the end of this fiscal year, will that last?

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Correct.

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Yeah, this past fiscal year took a very large hit on our cash reserves.

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This is straight out of our budget document. So this is the water and sewer current debt.

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We have a couple revenue bonds, and then we have some chief loans.

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This does not include any of the debts from the campground, and it doesn't include any debt that the state holds.

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So the upstate debts for the water surged activity is about $8.5 million.

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We have annual debt service of approximately 1.1 million, so that's principal can interest.

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The debt ratio that I'm going to talk about is operating income divided by debt service.

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Now, included in our revenue bonds and our Jeep alone documents, is we have to have a

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debt ratio of 1.25.

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And I'm projecting this here that we're going to have a debt ratio of 1.03.

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So what that means is, potentially, our issuers, like Cameras Bank or Jeep,

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are going to come back and say, you follow the mobility steps.

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Service requirements, what are you going to do to get back up to 1.25?

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which usually means increasing rates, right,

233
00:31:38,220 --> 00:31:38,860
of the cutting costs.

234
00:31:39,700 --> 00:31:41,780
Or we get really creative and think

235
00:31:41,780 --> 00:31:44,580
of how we can lessen the burden on the utility.

236
00:31:53,430 --> 00:31:56,550
We have this 2024 water sewer revenue bond,

237
00:31:56,930 --> 00:31:59,730
the hand in 20 year term, it measures in 2044

238
00:31:59,730 --> 00:32:01,910
and a 6% annual interest.

239
00:32:02,450 --> 00:32:04,490
We have a 5% prepayment felony,

240
00:32:04,670 --> 00:32:06,770
which is roughly $145,000.

241
00:32:07,670 --> 00:32:12,450
And it has annual debt service of approximately 268,000.

242
00:32:12,450 --> 00:32:18,070
And then I listed, we're paying $177,000 in interest and $91,000 in principle.

243
00:32:19,070 --> 00:32:22,530
So now we're going to talk about what's up for approval tomorrow.

244
00:32:22,730 --> 00:32:29,790
And that said, 2026 RevVon issues due to the building authority, not the waters or utility.

245
00:32:30,710 --> 00:32:32,650
So that here is an 18 year term.

246
00:32:32,730 --> 00:32:35,830
It has an interest of 4.495%.

247
00:32:35,830 --> 00:32:39,510
The issuance costs are approximately $90,000.

248
00:32:39,510 --> 00:32:49,030
The annual debt service is $259,000, which equals about $9,000 in annual debt service savings.

249
00:32:49,690 --> 00:32:51,090
Now, I know you're going to say $9,000.

250
00:32:51,090 --> 00:32:57,230
That's not much money, but it would come to a utility that's living along $9,000 is $9,000.

251
00:32:57,870 --> 00:33:04,350
The biggest thing is it removes the debts from the water sewer utility and adds it to the authority.

252
00:33:04,350 --> 00:33:12,010
So our overall city death is basically staying staying but it's taking it from the water so you're totalling and putting it over in the city.

253
00:33:12,490 --> 00:33:13,050
Yes.

254
00:33:14,390 --> 00:33:16,910
That's water sewer is a separate one.

255
00:33:19,050 --> 00:33:27,910
And I'm concerned about the mean when the debt because the debt or water sewer needs to be paid for water sewer revenue.

256
00:33:27,910 --> 00:33:37,010
right? Correct. So how is that going to be segregated from by the park? Sure. So that's

257
00:33:37,010 --> 00:33:42,350
a great question. It's literally taking it out of the water's rear utilities so there

258
00:33:42,350 --> 00:33:47,830
will be no more debt. This was the big debt lesson. And then it's taking it over to a separate

259
00:33:47,830 --> 00:33:53,050
fund that's going to be shown on your government's list of your entities. Now with this revenue

260
00:33:53,050 --> 00:33:55,670
and it is backed by the full faith of the city.

261
00:33:55,950 --> 00:33:59,370
It's not backed by water sewer utility revenue.

262
00:34:00,230 --> 00:34:03,130
But in the plan, we are using water sewer revenue,

263
00:34:03,130 --> 00:34:05,570
obviously, to pay for that debt, right?

264
00:34:06,110 --> 00:34:10,430
But if let's say the utility couldn't pay it,

265
00:34:10,630 --> 00:34:11,750
the city has to pay it.

266
00:34:11,810 --> 00:34:13,210
And so it's shown over on the city.

267
00:34:13,830 --> 00:34:14,410
Does that make sense?

268
00:34:15,090 --> 00:34:17,730
Yeah, but the bottom line is that the water sewer department

269
00:34:17,730 --> 00:34:19,950
can't pay their bills to the citizen anyway.

270
00:34:19,950 --> 00:34:26,410
anyway. Sure, so I don't know. We still have the same

271
00:34:26,410 --> 00:34:30,810
feeling of debt, so I guess I'm not understanding the

272
00:34:30,810 --> 00:34:35,530
benefit of just having it under separate.

273
00:34:37,130 --> 00:34:40,430
So let's go back to this slide. So this is our current debt in the

274
00:34:40,430 --> 00:34:43,870
waters through utility, right? And I was talking about the

275
00:34:43,870 --> 00:34:46,710
projected debt ratio. So right now we're going to fall

276
00:34:46,710 --> 00:34:53,630
below or projected fall below that required debt ratio of 1.25 and then

277
00:34:53,630 --> 00:34:59,890
it can just really really clearly explain what a debt ratio is. Sure, it's

278
00:34:59,890 --> 00:35:03,270
operating income divided by debt service, right? So if revenue is lesser

279
00:35:03,270 --> 00:35:07,010
expenses divided by your debt service and really that's saying like are you

280
00:35:07,010 --> 00:35:12,310
bringing enough money to pay your debt service? I said what people care about. Okay so

281
00:35:12,310 --> 00:35:17,130
So then this is what our water, so we see where utility debt would look like after

282
00:35:18,050 --> 00:35:18,570
refinancing.

283
00:35:19,150 --> 00:35:25,230
I think it's our annual debt service down to $886 and that the debt ratio increases

284
00:35:25,230 --> 00:35:32,050
to 1.34, so we're meeting our debt requirement, I know you smile, it's creative accounting.

285
00:35:32,770 --> 00:35:38,650
But I mean, it is, because right now, like I said, the bank could come or chief could come,

286
00:35:38,650 --> 00:35:43,830
We're not going to give you any more loans because you're not meeting your debt service requirements, right?

287
00:35:45,050 --> 00:35:49,290
Which we need to do any further capital improvements into our suitability.

288
00:35:57,030 --> 00:35:58,830
Well, they're just looking at the utility

289
00:35:59,870 --> 00:36:04,610
It's just clear. You're right. It's a bookkeeping trick, right?

290
00:36:04,610 --> 00:36:06,530
But it's not, it's not underhanded.

291
00:36:06,710 --> 00:36:10,550
This is a normal practice, this is why these authorities exist, right?

292
00:36:11,230 --> 00:36:15,370
This is how we're funding really the fire department as well.

293
00:36:15,510 --> 00:36:16,050
It's the same thing.

294
00:36:16,290 --> 00:36:20,050
This is an entity created by the state for this purpose.

295
00:36:20,770 --> 00:36:22,390
But yes, yes, no question, no.

296
00:36:22,530 --> 00:36:23,810
And it seems so.

297
00:36:24,090 --> 00:36:24,850
I know you all are.

298
00:36:25,530 --> 00:36:30,570
Rightfully, you can use the remains of it all, but it just can't have.

299
00:36:32,960 --> 00:36:35,320
We should do both pieces of right here on the state of work.

300
00:36:35,320 --> 00:36:38,480
Or are we getting hit by the pre-payment penalty just pre-finished?

301
00:36:39,080 --> 00:36:41,800
We have paid $145,000 to rethink it.

302
00:36:41,920 --> 00:36:44,640
Yes, we have to pay the pre-payment.

303
00:36:45,980 --> 00:36:50,100
So how many years before we break even on that $145,000 cost?

304
00:36:50,740 --> 00:36:54,980
So that savings is built in the cost of the issuance,

305
00:36:55,180 --> 00:36:57,520
as well as the pre-payment is built into that savings.

306
00:36:58,040 --> 00:37:00,060
So if we didn't have that, it'd be much more savings.

307
00:37:00,060 --> 00:37:06,880
but the $153,000 that we have after the refinancing includes both the cost

308
00:37:06,880 --> 00:37:08,700
officials and that repayment penalty.

309
00:37:09,400 --> 00:37:14,620
Yeah, so we're saving money with the lower interest rate, so we're spending more

310
00:37:14,620 --> 00:37:18,100
the premium and the middle day and then on the issuance cost, right? But all that

311
00:37:18,100 --> 00:37:25,160
net's out to $127,000 to our favor in the end. Not a ton. Like it's about $10,000 a year

312
00:37:25,160 --> 00:37:29,220
that we're saving, but it's something, right? And then we importantly are taking this

313
00:37:29,220 --> 00:37:35,180
that off the utilities books, which makes it easier to issue new debt in the future.

314
00:37:35,400 --> 00:37:35,860
That's all it's going to do.

315
00:37:35,920 --> 00:37:36,760
It's going to some more capacity.

316
00:37:42,930 --> 00:37:45,950
2016, the refunding revenue run.

317
00:37:46,310 --> 00:37:48,050
So what was that original amount?

318
00:37:49,610 --> 00:37:50,570
At 466.

319
00:37:50,890 --> 00:37:51,350
Oh goodness.

320
00:37:52,230 --> 00:37:54,130
A lot more than 466.

321
00:37:54,530 --> 00:37:55,010
I did that.

322
00:37:55,270 --> 00:38:00,110
So, and I know a lot of people are really worried about utility bills, even the five percent.

323
00:38:00,110 --> 00:38:06,290
But, you know, all these hypotheticals, and this coming from a product sector, is super

324
00:38:06,290 --> 00:38:13,610
breathtaking, because we're kicking a key in now, and I'm rude again, and I mean, daily

325
00:38:13,610 --> 00:38:20,190
in my emails, we're having water breaks and stuff like that, so I understand the shifting

326
00:38:20,190 --> 00:38:28,280
of money and the game of the tax side, and could be a data wrecking, and some days, I'm

327
00:38:28,280 --> 00:38:36,220
stand up and say, hey, you know, are we close to a major collapse in one area, from the

328
00:38:36,220 --> 00:38:45,780
standpoint of infrastructure to where, you know, that eight million dollars of what the

329
00:38:45,780 --> 00:38:52,100
tone debt service is, I mean, I guess from my standpoint, I would love to see a true

330
00:38:52,100 --> 00:39:00,500
to work out to this is, you know, is the 5% not enough in what we guarantee for the water utility?

331
00:39:01,240 --> 00:39:08,840
Well, what really with the water raises, we have to catch up right now, look like, to give the residents what?

332
00:39:09,340 --> 00:39:16,720
What the real number is to get us to where the utility, I'm not saying utility has to make money,

333
00:39:16,720 --> 00:39:21,240
but to get to the ground zero to where we are because the

334
00:39:23,730 --> 00:39:26,210
scary numbers to somebody's

335
00:39:26,210 --> 00:39:32,890
going to have to pay somewhere down the line in 2016 if that number was a million dollars

336
00:39:32,890 --> 00:39:39,510
and we're 10 years down the line we still owe almost 50% of the money we borrow from that.

337
00:39:41,340 --> 00:39:42,400
How do you say that?

338
00:39:45,720 --> 00:39:47,680
Yeah, that depends.

339
00:39:47,680 --> 00:39:54,440
I mean, it is. They're all scary numbers, but we have to make the improvements. I mean,

340
00:39:54,840 --> 00:40:01,740
we're stuck with a bad system that has to be improved. I mean, what do you do?

341
00:40:04,460 --> 00:40:05,840
Yeah, it's a liquid butt wrench.

342
00:40:07,260 --> 00:40:15,520
The key, the key, the strategy right now is to be consistent, right? And we're asking for a consistent 5% annual increases,

343
00:40:15,520 --> 00:40:17,540
which we've just haven't done in the past, right?

344
00:40:17,640 --> 00:40:20,620
We've taken holidays for some times five years

345
00:40:20,620 --> 00:40:21,880
I'm not taking any rate increases.

346
00:40:22,580 --> 00:40:23,920
And that just gets key, right?

347
00:40:24,120 --> 00:40:26,420
That's how we can best we dig ourselves into whole,

348
00:40:26,620 --> 00:40:28,780
which is how we got into this issue in this mess right now.

349
00:40:29,380 --> 00:40:30,140
I didn't want to call it mess,

350
00:40:30,320 --> 00:40:31,940
it's just in the situation that we're right now.

351
00:40:31,980 --> 00:40:34,040
I don't know, why does the rate 10% look like

352
00:40:34,040 --> 00:40:39,540
if we went 10% of this year and caught up or did you know?

353
00:40:39,940 --> 00:40:42,120
I mean, I don't know what the number is.

354
00:40:42,120 --> 00:40:43,740
As long as we know that we're,

355
00:40:43,740 --> 00:40:45,820
Again, we're going to be working on this forever, right?

356
00:40:45,880 --> 00:40:46,560
There's no catch up.

357
00:40:46,760 --> 00:40:48,820
We're going to be, because we're making improvements

358
00:40:48,820 --> 00:40:51,920
to the infrastructure, and then the more recent

359
00:40:51,920 --> 00:40:53,220
infrastructure gets older, right?

360
00:40:53,400 --> 00:40:54,680
It's all keeps on aging out.

361
00:40:56,780 --> 00:40:58,900
What's important is the consistency

362
00:40:59,390 --> 00:41:01,820
and to continue to invest in our infrastructure,

363
00:41:01,820 --> 00:41:03,240
which we aren't doing, right?

364
00:41:03,280 --> 00:41:06,440
Our plan is to make investments every single year.

365
00:41:07,180 --> 00:41:09,700
It gets painful because we're growing debt, right?

366
00:41:09,820 --> 00:41:12,260
We are growing debt, but we have to do it.

367
00:41:12,260 --> 00:41:17,440
or we're going to fall behind them further and then it's all going to break like you said at the same time.

368
00:41:17,720 --> 00:41:21,400
And then it gets more extensive and they're going to have to take up more debt to fix the things that are broken.

369
00:41:22,160 --> 00:41:23,120
That's what we are right now.

370
00:41:24,540 --> 00:41:28,020
We recommend sticking with the, again, it's a balance, right?

371
00:41:28,280 --> 00:41:33,100
Because there's only so much that a rate pairs can pay, right?

372
00:41:33,400 --> 00:41:39,280
And it feels like a 5% annual increase is the right amount right now.

373
00:41:39,280 --> 00:41:44,320
I'm going to sort of like in the future, we might readdress that, but if we can stick with

374
00:41:44,320 --> 00:41:49,800
the 5% annual increase for the next 10 years, we feel like we're going to be the utilities

375
00:41:49,800 --> 00:41:51,120
going to be in good shape.

376
00:41:51,400 --> 00:41:57,680
As long as you know, we stick to the plan, do these small regular consistent investments

377
00:41:57,680 --> 00:42:00,840
within our infrastructure right now, it's 2.5 million dollars a year.

378
00:42:01,360 --> 00:42:07,380
That seems to be the right size of debt for tidy in the right investment, if we take

379
00:42:07,380 --> 00:42:10,080
They got too much debt due to too many projects at the same time,

380
00:42:10,540 --> 00:42:12,540
turned to a big old construction zone.

381
00:42:13,000 --> 00:42:16,320
There's always so much that our staff can manage at the same time.

382
00:42:16,520 --> 00:42:18,320
It just feels like the right plan for us now.

383
00:42:18,620 --> 00:42:19,960
But yeah, you're right back.

384
00:42:20,260 --> 00:42:22,820
I mean, that's...

385
00:42:22,820 --> 00:42:24,820
We haven't really sort of made all the right vests.

386
00:42:25,180 --> 00:42:25,560
That's better.

387
00:42:25,780 --> 00:42:27,120
Well, no.

388
00:42:27,400 --> 00:42:28,600
No, we in here at this point.

389
00:42:29,280 --> 00:42:29,560
Right.

390
00:42:30,020 --> 00:42:31,620
But six years ago, they weren't doing anything.

391
00:42:32,800 --> 00:42:34,340
So we each stepped it up.

392
00:42:34,340 --> 00:42:38,900
But they were given away before that, and we changed that.

393
00:42:39,960 --> 00:42:45,920
And now, you know, we had to go 5%, but we're not kicking a can down the road.

394
00:42:46,200 --> 00:42:51,400
We're trying to help, but it's, like Brett said, we're going to be in this contact for us.

395
00:42:51,560 --> 00:42:54,540
Do you counsel people of the type of information we do?

396
00:42:55,560 --> 00:43:00,940
Well, and it's my recollection that when we were having all of these discussions, that the

397
00:43:00,940 --> 00:43:09,280
The consensus was that 5% was about as much as the consumer could handle a year and with

398
00:43:09,280 --> 00:43:15,700
the current economy and the gas prices right now, I would be really reluctant to advocate

399
00:43:15,700 --> 00:43:16,440
going higher.

400
00:43:20,500 --> 00:43:26,140
I will say 5% of the annual increases are right in line with the national average and what's

401
00:43:26,140 --> 00:43:26,600
going out there.

402
00:43:26,760 --> 00:43:32,660
In our average water and sewer bills are right in line, we're actually below the national

403
00:43:32,660 --> 00:43:32,960
average.

404
00:43:32,960 --> 00:43:43,710
So, we're ready to go back to the concern about the growing debt other than our revenue,

405
00:43:43,990 --> 00:43:51,190
the choice, our options to continue to make improvements, but to reduce the debt would

406
00:43:51,190 --> 00:43:57,230
be through grants and, you know, like special allocations from the state or the federal government

407
00:43:57,230 --> 00:43:57,590
right.

408
00:43:58,250 --> 00:43:59,550
Or the most tax.

409
00:44:00,070 --> 00:44:00,750
Right.

410
00:44:01,050 --> 00:44:01,130
Yeah.

411
00:44:01,130 --> 00:44:02,950
Yeah, we get a new revenue source scape changer.

412
00:44:03,830 --> 00:44:05,990
So, are y'all familiar with the most tax?

413
00:44:09,110 --> 00:44:10,910
It's a special, do you want to sign it?

414
00:44:11,490 --> 00:44:14,390
Yeah, it's just another thing, let me talk about that.

415
00:44:15,010 --> 00:44:21,070
Yeah, another up to a penny that can only be used for infrastructure, and we do think

416
00:44:21,070 --> 00:44:28,430
it would be a good solution for tiny, which has strong visitor population, you know, to get

417
00:44:28,430 --> 00:44:31,570
those who are visiting the island to help with the infrastructure of the island.

418
00:44:32,770 --> 00:44:35,650
There's not an appetite right now in Atlanta to expand that.

419
00:44:36,350 --> 00:44:37,130
Sorry about that.

420
00:44:37,130 --> 00:44:38,130
No, that's none of this.

421
00:44:38,370 --> 00:44:44,970
Unless they go through with eliminating property tax and then let us have it.

422
00:44:45,530 --> 00:44:48,090
That's just swapping six of them.

423
00:44:48,170 --> 00:44:49,210
It's better if they didn't pass two.

424
00:44:50,010 --> 00:44:54,870
I will say, if we can remain consistent with these increases, the goal is

425
00:45:00,300 --> 00:45:15,980
Over time, that will start begin, you know, building reserves again, over time. It's going to be challenging as we have debt, right? But we can be consistent, I think, over time, we're in a path where we can start growing or the bottom.

426
00:45:19,940 --> 00:45:21,480
It'll always be paid for the sudden cash.

427
00:45:21,480 --> 00:45:21,940
Yeah,

428
00:45:25,820 --> 00:45:26,340
I have a question.

429
00:45:27,000 --> 00:45:27,660
Thank you.

430
00:45:27,800 --> 00:45:28,120
You know that.

431
00:45:28,680 --> 00:45:30,580
I have a good question.

432
00:45:33,400 --> 00:45:39,280
What you want is a little scary to see this sort of dig in yourselves in the home.

433
00:45:40,260 --> 00:45:42,680
One, you have a graph or something.

434
00:45:42,860 --> 00:45:44,640
Showed that a couple of years ago.

435
00:45:45,600 --> 00:45:46,740
That might have helped us.

436
00:45:47,420 --> 00:45:50,860
But unfortunately your projections may work out this year.

437
00:45:51,580 --> 00:45:51,840
No.

438
00:45:53,840 --> 00:46:00,720
And so we couldn't borrow from you, or which one, we couldn't make our debt service ratio.

439
00:46:02,300 --> 00:46:09,020
So we can get any more borrowing, but that doesn't also mean that those borrowings made

440
00:46:09,020 --> 00:46:09,600
me in the fall.

441
00:46:10,780 --> 00:46:12,560
And we federal though our debt service.

442
00:46:12,820 --> 00:46:12,880
Sure.

443
00:46:14,420 --> 00:46:16,500
So we don't want to follow the loan.

444
00:46:17,000 --> 00:46:17,100
Hard.

445
00:46:17,100 --> 00:46:27,780
In fact, so then the other side of this is the legal ledger demand of changing the debt

446
00:46:27,780 --> 00:46:36,180
to the facility from the water and sewer close, even though without changing the financial

447
00:46:37,160 --> 00:46:43,180
liability of the water and sewer close, they still got to pay indirectly the debt service

448
00:46:43,180 --> 00:46:43,840
on the move.

449
00:46:44,800 --> 00:46:52,620
So you've got, it's very sort of abstract, artificial, and we're content.

450
00:46:52,960 --> 00:46:57,100
That report's content that our Londoners who have system on this debt service

451
00:46:57,100 --> 00:46:59,580
coverage will not be offended by this.

452
00:47:00,800 --> 00:47:01,160
Yes.

453
00:47:01,720 --> 00:47:01,840
Yes.

454
00:47:02,620 --> 00:47:08,840
And that report will be presenting via teams tomorrow at the authority meeting.

455
00:47:08,840 --> 00:47:14,360
I mean, you have to if you're further like technical questions when it comes to that, that's above my head.

456
00:47:15,060 --> 00:47:16,080
So, fight there, it's my turn.

457
00:47:16,960 --> 00:47:17,420
Thank you.

458
00:47:21,900 --> 00:47:27,060
That's it for presentations, or if there's any other questions, something that are there if you want to.

459
00:47:27,140 --> 00:47:27,980
Sorry, I'm sorry for short.

460
00:47:29,520 --> 00:47:30,960
Any other questions about the agenda?

461
00:47:31,660 --> 00:47:32,560
Any other questions?

462
00:47:33,200 --> 00:47:37,940
Would anyone here like to say anything about the items that we just discussed?

463
00:47:40,840 --> 00:47:41,500
I think,

464
00:47:46,250 --> 00:47:49,210
would anyone like to talk about items on the agenda tomorrow?

465
00:47:53,740 --> 00:48:02,340
Well, I saw that Patricia sent out another email about number three, so is everybody comfortable with that?

466
00:48:02,920 --> 00:48:04,560
Number three?

467
00:48:04,900 --> 00:48:05,560
Yeah, I am.

468
00:48:06,380 --> 00:48:07,460
I have got a point.

469
00:48:08,280 --> 00:48:15,340
At the 4th ward, we get to say that, but I don't think it should be on the agenda at all.

470
00:48:16,480 --> 00:48:16,960
Number three?

471
00:48:16,960 --> 00:48:17,280
Yes.

472
00:48:18,420 --> 00:48:24,180
Where would then, according to me, the exclusion periods were finally a second.

473
00:48:25,780 --> 00:48:28,380
You disagree with Bubba's and Patricia's assessment?

474
00:48:28,740 --> 00:48:32,760
I have heard the same level of the tradition I have been taking three years.

475
00:48:33,420 --> 00:48:36,280
I'm also including Tracy's assessment online as well.

476
00:48:36,620 --> 00:48:39,520
If they take my mind, that's four-board again.

477
00:48:39,920 --> 00:48:40,060
Okay.

478
00:48:40,320 --> 00:48:42,920
All right.

479
00:48:44,780 --> 00:48:54,320
And Brian and Brett, if we have a live workshop, can we address for next year's grant funding

480
00:48:54,920 --> 00:49:00,640
to talk about the process of groups going forward?

481
00:49:01,140 --> 00:49:03,180
Not 2026, 2027.

482
00:49:03,740 --> 00:49:05,080
And we had a future workshop.

483
00:49:05,220 --> 00:49:05,860
Out of future works.

484
00:49:06,020 --> 00:49:06,820
Talk about the grant process.

485
00:49:07,140 --> 00:49:08,700
Talk about the grant process.

486
00:49:09,420 --> 00:49:10,600
What was the nonprofit grant?

487
00:49:10,800 --> 00:49:10,980
Yes.

488
00:49:10,980 --> 00:49:14,180
And we thought, you know, well, it's fresh on everybody's mind.

489
00:49:14,720 --> 00:49:15,680
That would be a good time.

490
00:49:16,160 --> 00:49:20,080
Workshop meaning it doesn't have to be like this next two months,

491
00:49:20,260 --> 00:49:21,760
but we can do it the next few months,

492
00:49:21,860 --> 00:49:24,020
but it's a lot like, I'm good with that.

493
00:49:25,000 --> 00:49:28,120
And I guess one question that kind of came up this week

494
00:49:28,120 --> 00:49:30,380
was about demolition permits.

495
00:49:32,020 --> 00:49:34,140
And I was with Hamstrung yesterday

496
00:49:34,140 --> 00:49:36,680
because I didn't have internet and I couldn't like look stuff up.

497
00:49:36,680 --> 00:49:37,960
It was so annoying.

498
00:49:37,960 --> 00:49:54,080
But, you know, could we like discuss like what happens if somebody applies for a demo permit and if there are any requirements on the city side is not dealing just with the demo, but like.

499
00:49:54,080 --> 00:49:59,320
like, rodent and insect-controlled prior to?

500
00:49:59,920 --> 00:50:03,060
Yeah, I'm sure Patricia could answer questions.

501
00:50:03,080 --> 00:50:03,240
Yeah.

502
00:50:03,440 --> 00:50:03,880
Are you prepared?

503
00:50:04,080 --> 00:50:04,940
Do you want to come back, Patricia?

504
00:50:05,160 --> 00:50:06,240
Well, it's not on the agenda.

505
00:50:06,440 --> 00:50:07,840
So I didn't want to put her on the spot.

506
00:50:08,960 --> 00:50:10,880
You know, I can come back with that in the long run,

507
00:50:11,200 --> 00:50:12,440
because I'm 100 as well.

508
00:50:13,140 --> 00:50:13,360
Okay.

509
00:50:13,520 --> 00:50:18,340
So I'll leave the net all of, like, unsafe and tragic issues.

510
00:50:18,860 --> 00:50:19,260
Yep.

511
00:50:19,520 --> 00:50:22,800
Well, in the woods, I'm not talking about the recent fires,

512
00:50:22,800 --> 00:50:31,760
But you know buildings that our houses that have been vacant for years and then are demoded without doing any kind of

513
00:50:31,760 --> 00:50:36,520
Critter control really freaked the neighbors out when they saw the raccoons running

514
00:50:38,180 --> 00:50:43,000
But anyway, so that's what I was just curious is to whether or not we had any requirements

515
00:50:43,000 --> 00:50:50,740
Either way

516
00:50:53,600 --> 00:50:54,300
You can.

517
00:50:55,940 --> 00:50:56,380
Second.

518
00:50:57,380 --> 00:51:00,520
Well, are there any other things on the agenda tomorrow?

519
00:51:01,440 --> 00:51:01,560
Yeah.

520
00:51:02,120 --> 00:51:02,820
We want to do it.

521
00:51:02,820 --> 00:51:03,020
Anybody?

522
00:51:03,340 --> 00:51:04,620
Everybody's okay with the rest of the agenda?

523
00:51:04,860 --> 00:51:05,560
Any other discussion?

524
00:51:05,700 --> 00:51:06,420
We need on that.

525
00:51:10,180 --> 00:51:19,880
If I on the second reading of the budget, I sent out some responses to Tony and I'm not sure

526
00:51:19,880 --> 00:51:20,540
if everyone had to.

527
00:51:20,540 --> 00:51:21,060
that was today.

528
00:51:22,060 --> 00:51:24,840
But for the adoption of the budget,

529
00:51:25,620 --> 00:51:28,880
his question about we have this P schedule,

530
00:51:29,200 --> 00:51:32,240
that's an appendix identity in the budget.

531
00:51:33,120 --> 00:51:35,500
And the question was, is the adoption of the budget,

532
00:51:35,640 --> 00:51:36,660
adoption, P schedule?

533
00:51:37,060 --> 00:51:41,640
And the answer is kind of, you can adopt the P schedule.

534
00:51:42,020 --> 00:51:44,880
There's the only proposed changes within the P schedule

535
00:51:44,880 --> 00:51:47,620
are basically development of permitting fees.

536
00:51:49,380 --> 00:51:58,940
We have taken action through the LVC earlier this year that takes it out of the LVC and allows you to adopt it in the fee schedule.

537
00:52:00,360 --> 00:52:11,280
The only thing I'd recommend is I would recommend approving that as part of the budget, but if someone can make a motion to extract proposed changes to the STR fees,

538
00:52:11,960 --> 00:52:18,280
We do feel like that should be addressed as part of the SEO ordinance itself, and then we're still getting a beat back from

539
00:52:18,980 --> 00:52:25,920
the attorney and also from members of council who I don't feel like we've landed on the correct fee yet, so I recommend that we pull that out of it.

540
00:52:26,680 --> 00:52:28,080
That's the only change that I recommend.

541
00:52:31,280 --> 00:52:38,140
The only thing is we were asked for input, and then we never discussed it again.

542
00:52:38,140 --> 00:52:45,140
Yeah, yeah, you're talking about the fees themselves well, I think we incorporated

543
00:52:45,980 --> 00:52:50,440
So just to just to clarify to you we initially gave you guys a

544
00:52:50,440 --> 00:52:55,840
Fees scheduled that included our administrative fees, but also administrative citations

545
00:52:56,440 --> 00:53:02,880
And I got a lot of we got a lot of comments on the administrative citations and Jenna just pulled those out, right?

546
00:53:03,060 --> 00:53:05,600
So we're gonna treat those completely separately and they really are separate

547
00:53:05,600 --> 00:53:15,460
and I'm really pleased to really just sit down and sit down and think, you know, it has a change in decades and it's so much.

548
00:53:16,500 --> 00:53:19,840
And so, I mean, there were just a few things, but...

549
00:53:19,840 --> 00:53:26,620
Yeah, I mean, we talked about the problem is the entertainment fee of most of you don't have an entertainment fee.

550
00:53:26,740 --> 00:53:32,420
I'll say the entertainment fee is often hooked into an alcohol licensing.

551
00:53:32,420 --> 00:53:41,280
see, you know, had conversations about alcohol, license these, it didn't feel like now was

552
00:53:41,280 --> 00:53:46,320
the right time to kind of go up in all the speeds, but you can certainly look to pull

553
00:53:46,320 --> 00:53:46,800
that out.

554
00:53:46,980 --> 00:53:51,980
Or again, we can address all of these things can be addressed at any day and for.

555
00:53:52,240 --> 00:53:58,560
I mean, I don't have a lot, but there was that, and the pro today animals needs to be passed.

556
00:53:58,760 --> 00:54:02,340
So that, all of that's out, yeah, we're going to address, we will address that later.

557
00:54:02,840 --> 00:54:05,900
So that's part of the administrative citation schedule.

558
00:54:06,240 --> 00:54:07,760
We're just going to address those separately.

559
00:54:07,760 --> 00:54:09,380
We need to send more time to counsel on that.

560
00:54:09,620 --> 00:54:09,860
Okay.

561
00:54:10,540 --> 00:54:12,820
That felt like all the ones that we've got most of the comments on

562
00:54:12,820 --> 00:54:14,720
were things like the noise stuff and all that.

563
00:54:14,820 --> 00:54:16,620
We're going to address that later in the next two months.

564
00:54:18,120 --> 00:54:19,340
We need to move forward.

565
00:54:20,380 --> 00:54:25,140
But I need to make a motion to approve the second meeting of the agenda.

566
00:54:25,140 --> 00:54:32,600
but pull out the proposed changes to the SCR application fee.

567
00:54:32,720 --> 00:54:36,200
Now I can write somebody any you need there for me or okay.

568
00:54:36,320 --> 00:54:37,260
Okay, sounds good.

569
00:54:38,460 --> 00:54:39,480
I appreciate that.

570
00:54:40,260 --> 00:54:40,620
Thank you.

571
00:54:42,770 --> 00:54:42,950
All right.

572
00:54:42,990 --> 00:54:43,430
Anything else?

573
00:54:43,650 --> 00:54:47,110
I have to make a little bit of a backup when I, when I,

574
00:54:47,230 --> 00:54:49,150
earlier, when I was here, and I made it,

575
00:54:49,890 --> 00:54:52,370
had to refuse by a subtle form of A.J.s.

576
00:54:53,270 --> 00:54:55,190
My, my, my, my, my, my, my,

577
00:54:55,190 --> 00:54:56,230
Because you love it there.

578
00:54:56,390 --> 00:54:56,850
I love it.

579
00:54:56,950 --> 00:55:00,430
My personal interest is so clear in five days.

580
00:55:00,730 --> 00:55:01,810
I wanted to get going.

581
00:55:02,370 --> 00:55:03,570
I wanted to talk to you again.

582
00:55:04,050 --> 00:55:07,750
And in five days, I wrestled with whether or worked on it.

583
00:55:07,970 --> 00:55:09,510
I think we can all say that.

584
00:55:10,030 --> 00:55:12,990
I too have to refuse myself.

585
00:55:13,370 --> 00:55:16,270
I think it's for business purposes with an offer.

586
00:55:19,830 --> 00:55:20,190
Well, maybe.

587
00:55:22,770 --> 00:55:24,970
You don't have a business interest in it.

588
00:55:25,050 --> 00:55:26,170
No business interest.

589
00:55:26,170 --> 00:55:29,470
I think that it was really a fake plan, didn't it?

590
00:55:29,470 --> 00:55:29,750
Okay.

591
00:55:30,110 --> 00:55:31,710
It might come from the rest of it.

592
00:55:32,830 --> 00:55:35,690
Uh, it's crazy building and letting me live in my heart.

593
00:55:36,470 --> 00:55:36,990
Disappear.

594
00:55:37,910 --> 00:55:38,430
Disappear.

595
00:55:41,800 --> 00:55:42,840
Get up a little.

596
00:55:43,700 --> 00:55:44,220
Okay.

597
00:55:44,640 --> 00:55:45,320
Hi everyone.

598
00:55:45,960 --> 00:55:46,860
We're adjourned.

599
00:55:48,520 --> 00:55:49,260
Thank you.

600
00:55:49,380 --> 00:55:50,380
We're going to start.