Oh, did you unmute it?

Yeah, I just unmuted it.

Thank you.

Do I have to press record?

Yes.

Yes.

Just hit the record and then let off another red light should show up.

Did that work?

Yes.

Okay.

Okay.

Again, for the record, Tim Cummings, Director of Administrative Services.

So for this evening, I'd like to walk through the plan as it's been developed to date and then walk you through the work that our finance team has done to show how the plan uh corresponds and correlates with previous uh guidance that have been given by uh uh the Board of Alderman and the committee in the in the past.

Um the ultimate goal is to try to get to some sort of consensus this evening as I'd like to present to the Board of Alderman tomorrow night.

Um and then ultimately what we really need to do is file bond uh resolutions for the September uh meeting.

So we are really starting to to cut it tight.

So uh you'll see a a couple handouts were on the table.

Hopefully every everyone has received them.

Um essentially um uh they are the outline that I'll go through from the PowerPoint uh this evening and the various charts and graphs that we will go over in in detail.

So um just as a reminder, um previous guidance and we're continuing forward with these with these recommendations is to um uh file our bond resolutions uh uh concurrently or right after the the fiscal year operational budget.

Capital improvement spending through the operating budget.

Um we're we're in and around one point five million dollars right now.

We're looking to increase the appropriately year over year to try to increase our cash we use for various capital uh projects.

Uh previous guidance was limit new debt sales to approximately twenty-five million a year using a twenty-five million average over a five-year period plus inflationary factor.

Uh I'll note this is something we may want to go over and talk about uh depending on what the uh the body's priorities uh are.

Authorize additional spending with surplus through supplemental appropriation in that fall time period.

Lastly, I just want to note this is something I brought up at the last meeting, but I do think it's worth reiterating again is uh any any discussion uh about the plan before us is gonna require us exempting uh debt from the cap calculation.

So that's something that has been done in years past.

I think it's gonna be something that we're gonna need to do again to be able to adhere to to the various um uh financial constraints that we have uh before us.

So, with that being said, I'd like to call your attention to the handouts that that um have been provided to you.

And I originally provided you this geo bonding plan at the last meeting.

I provided that draft to you, and I solicited input and I heard some commentary about some changes and tweaks that you would like to see.

So I've updated the plan accordingly.

Um I'm gonna go through line by line and talk about these uh changes and also make some editorial comments for you to keep in the back of your mind, depending on what your priorities may be.

There may be ways to potentially drive uh uh our our planning our projects down from uh a five-year average perspective, or increase it depending on what your what your pleasure may be.

So uh starting off uh just at the top, we have approved resolutions with bond authorization where we are selling the debt.

Um first is the continuing our general paving.

All right, let me just um interrupt uh for a moment.

Um the record should show that uh Alderwoman Johnson has arrived.

Thank you.

Uh so again, right at the top here.

Uh we have approved resolutions with bond authorizations, and we need to sell the debt.

And so first we have continuing the general paving program.

This was originally done in 2022 for 37 and a half million dollars.

We uh have uh expended almost all of that.

We have about 7.5 million still to spend over the next two years, and it's accommodated appropriately.

Next, we have the uh infrastructure, uh general infrastructure improvement of Walnut Street and the West Pearl Street, uh, the Walnut Street Oval and the West Pearl Street Streetscaping Project.

And so we have some debt still to sell on that project, and that's noted in FY27.

We have the parking garages, both high in Elm Street parking garages, uh originally a $15 million bond authorization.

We have about $3 million of debt still to sell.

Uh continuing on that West Pearl Street uh streetscaping and walnut street oval project, we have about six hundred thousand dollars of debt still to sell in a separate authorization.

We have the DPW garage and fleet maintenance uh facility project where we are authorized three million dollars, and we anticipate selling that at least two million this year and and a million dollars next year.

Uh library design, we have one million dollars uh authorized and uh anticipate uh selling one million dollars.

Uh citywide infrastructure signal implementation project, we have a million dollars uh authorized, and I believe we will be spending that in a couple of years from now when it's slated to come up in FY29.

Uh home and stadium uh total project cost uh is I believe something like seven million dollars.

We've authorized three, and we have uh anticipate that debt to be sold uh in FY29 and FY30.

Then moving on to unauthorized debt and programmed in the over the next five to six or so years.

You can see here we have the DPW garage and fleet maintenance facility for 43.5 million dollars, and it is outlined accordingly.

We have the fire general deferred capital maintenance uh program.

Uh this would be reoccurring deferred capital maintenance that needs to be spent of about 1.5 million.