FINANCIAL PLANNING COMMITTEE
THURSDAY APRIL 21, 2005
MINUTES OF APRIL 21, 2005: Mr. Vance moved to approve the minutes of April 21, 2005. The motion was seconded by Mr. Dieterle and passed unanimously.
The regular meeting of the Newtown Township Financial Planning Commission met on Thursday, April 21, 2005 in the meeting room of the Township Municipal Building.
Members present were Anne Goren, Robert Dieterle, Philip Newmuis, Allen Fidler, Elaine Gibbs, Phil Vance and Township Manager Robert Pellegrino. Excused were Sarita Tirpak and Ryan O’Keefe
Chairman Goren called the meeting to order at 7:05 P.M.
MINUTES OF MARCH 21, 2005:
Mr. Vance moved to approve the minutes of March 21, 2005. The motion was seconded by Mr. Dieterle and passed unanimously.
Mr. Newmuis arrived during the discussion for Municipal Complex funding but after the approval of the minutes from March 21, 2005.
Municipal Complex Funding
Mr. Pellegrino updated the Committee members with regards to the Municipal Complex Funding. He provided the members with the latest revised cost estimates as of January 26, 2005 for the project. He advised that he is tentatively scheduled to make a presentation with regards to the Municipal Complex on May 16, 2005 to the BOS. He also advised on the increase to the cost of the project, currently the estimate is $7,343,395.00 plus contingency fees for a total cost of approximately $9,000,000.00.
Mr. Vance commented with regards to the land needing to be purchased. Mr. Pellegrino advised on the land purchase and that there would be site work done but the structures would be at grade.
Mr. Dieterle commented with regards to the current cost estimate and that cost never go down.
The Committee members discussed the renovations of the current structures and the construction of the new structures. The Committee members discussed possible ways to cut cost.
Mr. Pellegrino advised the Committee members with regards to the bond issues. The members were provided information regarding the bond issue cost under the old millage system.
The members discussed the Township’s current reserves and the money received from the RCN settlement.
Mr. Vance commented with regards to paying off the Wiggins loan and the length of time to purchase the land and build the structures for the Municipal Complex expansion.
The Committee members discussed the land owned by the Archdiocese in Newtown Township. Mr. Pellegrino advised on the property owned by the Archdiocese.
The Committee members discussed ways to structure the bond issue.
The Committee members discussed ways to educate the residents on what their local real estate tax bill is for Newtown Township. The members also discussed the possible increase to real estate taxes and the governmental services provided by the Township. The Committee members discussed the increases to county and school taxes.
The Committee members discussed the cost of the project, agreeing that the cost will only increase. One member suggested drafting a graph showing the cost increases by square footage.
The Committee members discussed ways to approach the BOS and the public. Mr. Fidler suggested that the Committee have a public meeting with the current BOS and the candidates running for election. Ms. Goren suggested waiting until after the November elections to approach the BOS.
Ms. Goren suggested that the Township purchase the land this year and begin to plan the funding once the land has been purchased. The Committee members agreed.
Mr. Newmuis commented with regards to the Committee’s thought process once the election has taken place and the land has been purchased. He also discussed interest rates.
Mr. Pellegrino advised the Committee that the Township has approved the purchase of the land. He is waiting for the updated appraisal from the Archdiocese, once he has the updated appraisal he will approach the BOS for the final approval.
Approve Tentative Schedule for Department Head Capital Budget Presentations
Ms. Gibbs updated the Committee members with regards to approving the tentative
schedule for the department heads capital budget presentations. The members were provided a memorandum from Ms. Gibbs to the Township’s senior staff members dated March 23, 2005. Ms. Gibbs advised the Committee members that on May 19, 2005 the following departments would make their presentations – Police, Emergency Services, Technology and Parks & Recreation. She also advised that on June 16, 2005 the following departments would make their presentations – Code, Public Works, Administration and Finance.
Mr. Vance commented with regards to the capital budget booklet provided to the Committee members. Mr. Pellegrino advised that the capital budgets provided to the committee members would be the basis for discussion with possible changes.
Special Note: Bring capital budget booklet, pages 4 thru 7 (Schedule ‘J’).
Continued Discussion – New Sources of Revenue
Ms. Gibbs commented with regards to the recommendation that the Township require contractors to register to work within the Township. She advised on an article she read in the newspaper with regards to the state requiring contractors to register with the state. Mr. Pellegrino advised that the recommendation has not been presented to the BOS, the recommendation will be presented to the BOS next month.
The Committee members discussed the income generated from the development of office buildings within the Township.
The Committee members discussed the loss of non-resident earned income tax.
The Committee members discussed the development of the Woll Tract.
There being no further business to come before the Committee, the meeting was duly adjourned.
Christy Holley, Recording Secretary