The City of Greensburg City Council met on Tuesday, March 12, 2024, at 6:30 pm.
The meeting began with a public hearing for the re-establishment of the Cumulative Capital Development (CCD) rate. A representative from Reidy Financial stated that they wish to re-establish to $o.o5, at this time the rate is $0.0443. No public comment was brought to the meeting. The public hearing was then adjourned
The regularly scheduled City Council meeting began at 6:38 pm. The council approved the February 21, 2024 meeting minutes.
Matt Mason, Veridus Group Representative came to the board to discuss the bond fund discussion. Matt brought plans for a new road ending for the road at the Fire Department. This has many positives including fire training with turnaround for apparatus, draft basins to pump & hose test trucks, host classes at the fire station, added lighting to the back of the site, additional marketability for the site, and they have the funding now to complete the needs. The cost is approximately $300,000. Completing this project at this time will cost less than in the future as the dirt that is needed for the groundwork is already on site and the construction company’s equipment is already on site. The funding being utilized is not additional funding being requested. This is utilizing interest that the bonds have been accruing. The City Council approved this request.
Matt Mason spoke about adding solar panels to help support the Greensburg Fire Department. The panels will be mounted on top of the Street Department Building due to the extra available space and the pre-planning that went into ensuring the building would support the weight of the panels. A line of conduit is already in place from the Street Department to the Fire Department is already underground and ready to be used. The cost is estimated to be $275,000. The city will be eligible to receive approximately $108,000 from the Inflation Reduction Act (IRA). The company installing the solar equipment guarantees over the life of the panels the city will see a savings of $434,000. If those saving milestones each year are not met then the company will write a check to the city. The project is said to offset the Fire Department’s electric bill by 38%. The panels are warranted for 20 years, however at year 25 the panels will still have approximately 80% efficiency. As part of the project the company is going to offer a maintenance contract that is relatively inexpensive with the first year costs to be $1,800. These panels will be mounted on the roof with no puncture to install. The anticipated savings is $605,000. The construction and approval were brought to a vote. The vote was 3-3 with Mayor Josh Marsh voting in the affirmative. This was approved.
Amy Bornes, City Clerk Treasurer came before the Council for the second reading of Ordinance 2024-2 Additional Appropriation for Airport. This is for a building to be constructed for equipment storage. This was approved.
Matt Mason, Veridus Group representative was at the meeting to provide a monthly update on the Municipal Complex Project. Curb work is being completed, and the existing road leading back through the property has been removed and prep work is being done for the new roadway. The Fire Department will begin being painted this month and the windows will be installed. The Street Department is nearing completion with paint almost complete. The salt barn and storage building are coming along as well. Veridus Group provided updated images and drone footage of the updates that have been completed. They are currently on schedule to be completed in late spring. The current planned move-in date will be in May.
Amy Borns requested to take advantage of current interest rates. She received approval to transfer funds to an account at Jackson County Bank utilizing a Money Market Account that will provide 5% APY for up to 5 million dollars of non-needed operation funding. She estimates she will be investing 4.75 million dollars. Amy said that she suggests utilizing Money Market Accounts instead of Certificates of Deposits. This allows if needed they can access the funding without penalties.
Amy then read the Ordinance 2024-05 for the re-establishment of the CCD rate. The council approved the first reading of this. The second reading and adoption will be completed at the April meeting.
Joshua Marsh, City of Greensburg Mayor provided an update on the Solar Eclipse and tips for the day.
The meeting was adjourned.
