1994 ADJ MIN SEPT 27 - Laserfiche WebLink

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1.. Director Anstine stated he was not sure and would have to study it. To inquiry on how to staff and equip community center, Director Anstine said there were no plans for additional staff. Rather, he would take administrative staff and relocate to the new building to man the facility. It is planned that the existing center would be made available for child care which should bring additional revenue to the City. Child Care Coordinator Lori Fretz said that she had talked with Title 22 people in Sacramento and expects their visit to review the facility. Councilmember Cook said that Colton Junior High School had indicated they were pleased with the youth referral program and she asked if staff can get the school to work together with the City on this program. Mr. Vega said he had talked with School Superintendent Fisher and Mr. Otis on possible funding for one year with the City providing the manpower. There was discussion on changes to the pool. Councilmembers wanted to know who had been informed about the changes and if changes took place, it would no longer be a competition pool. Director Anstine informed that through value engineering, developers and architects, may be attempting to scale -down. Assistant to City Manager Parrish offered that bids may be coming in higher and value engineering provides a method for holding to the cost of the project. They have provided a list of cuts. The determinations of what is gingerbread and what is necessary is being made by the project manager. City Council expressed concern over any changes as they had allocated funds for the pool and the center as was described in the presentation. Director Anstine assured that any changes will come before the City Council for review and approval. City Treasurer City Treasurer Michael Williams related that his job had been stress - tested because of a severe cash flow which reduced the City's portfolio from $20 million to $3 million; however, this was done without investment losses. Following the direction of approved Council investment policy, City Treasurer Williams said he focused on bills being paid. The City did not lose money. It had capital gains of $70,000. He spoke of single-family revenue bond issues. Upon inquiry, he was advised by an underwriter that bonds could not be restructured. City Treasurer was proud of the fact that he had found a way for the defeasance of the bonds and the City realized the sum of $10,000. Other cities have displayed an interest in doing this and have contacted him. City Treasurer Williams provided details relating to an RDA -single family revenue bond issue where the City realized all monies. On another bond issue, City Treasurer Williams said he found that the Bank of America had made a mistake. After conferring with other experts, he called Bank of America and as a result the City will receive $45,000. 9