Minutes 03/27/2017 - Laserfiche WebLink

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March 27, 2017 The city continues to have from all three credit rating agencies double A ratings with a stable outlook, which is a strong investment credit rating. Proposed Fee and Rate Changes – Enterprise Funds In an effort to provide quality services, maximize efficiencies and minimize cost, we analyzed current and future cost in providing these services and we are proposing in the FY2018 budget to realign some fees and rates. We are proposing a 5% increase in the Public Utilities rate to cover proposed CIP projects and increased maintenance costs. For residential bi-monthly bills, this will be approximately a $4.00 dollar increase for Public Utilities. This Public Utilities increase will be offset by a $6.00 dollar decrease in the Waste Management fee which is proposed to be reduced by $3.00 monthly. Proposed Fee and Rate Changes – General Fund The proposed FY2018 budget includes fee and rate changes to selective services in the General Fund. The city’s ambulance fees are proposed for revision to cover the cost of supplies and reimbursable non-transport services. Insurance and Medicaid will cover these fees, and this is similar to other cities billing for such services. The FY 2018 Proposed Budget introduces a fee to rent Portsmouth festival sites and a nonresident rate for the Summer Rays Program. Capital Improvement Program The city’s Capital Improvement Program supports projects that improve the economic development and infrastructure needs of the city and our schools. I am proposing in the Capital Improvement Program which supports multi-year projects and the continuation of ongoing projects such as Seawall improvement, Churchland Bridge Replacement, and Vehicle Replacement Program. Several new projects to include: • A Neighborhood Flooding Initiative • A study for Public Safety Facilities to include a New Truxtun Fire Station and Public Safety Complex • A new food and beverage venue on the Portside site • And, a State of the Art Election System Equipment and Software Capital Improvement Program – Public Safety In addition to the public safety compensation proposal, the following Public Safety equipment is proposed in the FY 2018 CIP Budget. st In accordance with the principles of 21 Century Policing along with fire, medical, and emergency services requirements, this equipment is essential to ensure public safety, responsiveness to our citizens and garners trust and accountability. Economic Development – Across the City Portsmouth’s economy continues to experience a healthy increase in activities especially in critical sectors such as retail, multi-family, and port-related developments through economic development initiatives. Some of these include:  Cox Communications invested over $1 million dollars in their new store in Midtown, which is their largest Cox store in the country.