RIGGINS URBAN RENEWAL AGENCY

July 10, 2019 – 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 Roy Akins, Gary Miller, and Carolyn Friend.

PREVIOUS MEETING MINUTES: The minutes of the April 2019 meeting were presented and members individually polled, all agreeing they had reviewed the minutes.  Motion was made by Friend to approve the minutes as presented; seconded by Miller; voting yea, Wilson, Miller, Friend, and McClure.  No nays; motion carried.

FINANCIAL STATEMENT:  The financial statement was presented detailing the 3/31/2019 cash balance of $7,366.08, with $2,229.96 in receipts, and $6,725.00 in disbursements, leaving a cash balance of $2,871.04 in regular checking, and $25 in the Share Account as of 3/31/2019.  Cash in the Sewer Obligation Reserve showed a beginning balance of $29,843.15; interest of $180.35, a contribution of $6,500.00, and a withdrawal of $10,000 for the Sewer Bond Payment, leaving a balance of $26,523.50.  Miller made a motion to approve the Financial Statement; seconded by Wilson; voting yea, Miller, Wilson, Friend, and McClure.  No nays, motion carried.

DISBURSEMENT OF FUNDS:  Motion was made by Miller to pay $225 for July through September Administration, and to transfer $2,500 to the Sewer Obligation Reserve Fund.  Motion was seconded by Wilson.  Voting yea, Friend, Miller, Wilson and McClure.  No nays; motion carried. 

BUDGET – FISCAL YEAR 2019-2020

Reviewed the budget proposal of $2,555,944.  Funding of the City Sewer Bond Payment was increased to 65% of Property Tax Increment ($16,384) = $10,650.

A Special URA Meeting was scheduled to coincide with the Special City Council Meeting to tentatively approve the Budget for publication on Monday, July 29th at 5:30 p.m.

Public Hearing to approve the Budget is scheduled for Wednesday, August 14th at 6:15 p.m.

There being no further business, the meeting was adjourned at 6:30 p.m.

Respectfully submitted,

Brenda Tilley, Clerk