RIGGINS URBAN RENEWAL AGENCY

July 11, 2018 – 6:15 p.m.

City Hall

The regular meeting of the Riggins Urban Renewal Agency was called to order by Chairperson Glenna McClure.  Board members Roy Akins and Matt Sinclair were absent.  Other Board members present were Jonny Wilson, and Gary Miller, with Carolyn Friend by phone.

PREVIOUS MEETING MINUTES: The minutes of the April 2018 meeting were presented and members individually polled, all agreeing they had reviewed the minutes.  Motion was made by Miller to approve the minutes as presented; seconded by Wilson; voting yea, McClure, Miller, Wilson, and Friend.  No nays; motion carried.

FINANCIAL STATEMENT:  The financial statement was read detailing the 3/31/18 cash balance of $8,972.70, with $607.57 in receipts, and $8,225.00 in disbursements, leaving a cash balance of $1,355.27 in regular checking, and $25 in the Share Account as of 6/30/18.  Cash in the Sewer Obligation Reserve showed a beginning balance of $20,342.52; interest of $93.78, a contribution of $8,000.00, leaving a balance of $18,436.30.  Wilson made a motion to approve the Financial Statement; seconded by Miller; voting yea, Miller, McClure, Wilson, and Friend.  No nays, motion carried.

DISBURSEMENT OF FUNDS:  Motion was made by Miller to pay $225 for July through September 2018 Administration. 

Property Tax yet to be received = $1,320.  Once this is received, $2,000 will be disbursed to the Sewer Obligation Reserve Fund. 

Motion was made by Miller to disburse the funds noted; seconded by Wilson.  Voting yea, Wilson, Miller, Friend and McClure.  No nays; motion carried.

FY18-19 BUDGET REVIEW:  Board reviewed the proposed budget of $2,543,765.

Revenue: Developer Advance of $2,510,000; Property Tax Increment of $13,003; Cash Carryover of $20,762.

Expenditures: Future Capital Improvements of $2,430,000; Water Study of $80,000; Administration of $900; Sewer Obligation Reserve for Bond Payment of $10,000; and Other $22,865. 

Motion was made by Miller to tentatively approve the budget as presented for publication; seconded by Wilson.  Voting yea, Wilson, McClure, Miller, and Friend.  No nays, motion carried. 

PUBLIC HEARING SCHEDULED: A Public Hearing will be scheduled for Wednesday, August 8th at 6:15 p.m. on the FY18-19 proposed Budget. 

There being no further business, the meeting was adjourned at 6:25 p.m.

Respectfully submitted,

Brenda Tilley, Clerk