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Joint meeting of Floyd County Commissioners and County Council together to please rise and join me for the Pledge of Allegiance. 00:00:00
The United States of America and to the Republic for which it stands, one nation under God, indivisible, with liberty and justice 00:00:08
for all. 00:00:14
OK. We have a few items on the agenda. There's a little bit of new business we'll cover here at the end, at least from me I. 00:00:21
Again, I just like having these opportunities for everybody to get together and have public input as well and. 00:00:31
Thank you for the reminder on that. If everyone else I was their cell phones at begin. 00:00:38
Much appreciated. So we'll begin with a update on the Chase building acquisition purchase of. 00:00:43
We're on schedule is important, but Rick if you wouldn't come up and. 00:00:51
Let us know where we are on that schedule. 00:00:56
I will. 00:00:59
Rick Fox, County Attorney. 00:01:00
I didn't bring my glasses so I'm. 00:01:04
These are readers. 00:01:07
I have to charge you by the hour though. 00:01:09
Everything will be rose colored. 00:01:14
What? What? I have no idea. 00:01:18
They just work. 00:01:23
The I just got this hot off the press. I followed it into the three commissioners. I'm just going to go through a little bit with 00:01:25
regards to the bond issue for the purchase of the Chase building. 00:01:32
And Danny, I'm going to give you a. 00:01:39
Copy of this, the paper copy and. 00:01:43
As long as I can remember and when they e-mail it to Steve and then he can disperse it or you can disperse it to the rest of the 00:01:47
board. 00:01:49
The bond process has moved along and. 00:01:55
Have they done the bidding? And we have. 00:02:00
Merchants Bank, First Merchants Bank, They're headquartered in Carmel. They gave the lowest bid, 4.7% for the bond. 00:02:04
And so we had five bids that came in. 00:02:13
They basically range from 4.7 to 6%. 00:02:18
And the bit behind first merchants was 4.75%. 00:02:24
So those two 'cause. 00:02:30
It's a five year ban, as you know, I. 00:02:33
The. 00:02:37
One thing that we wanted and we got and that is the right to convert the bond. And so we're required to have the band for one, one 00:02:40
year. It is a five year ban, but anytime after that first year, depending on the market conditions, we can convert to the bond. 00:02:50
So that gives us a lot of flexibility in the future based upon the rates and what we see from them path. 00:03:01
The bond is for. 00:03:12
$10,255,000. 00:03:18
After costs, we will have approximately $10 million that will be deposited. 00:03:22
The. 00:03:32
Bond repayment. 00:03:34
Schedule where scheduled to repay the interest and that's the. 00:03:38
The minimum amount we can also use the additional proceeds that we have to repay principal. 00:03:43
Before we go into bonding down the road and. 00:03:51
I I think they're anticipating that, but in regards to the principal payments. 00:03:55
It's on page 4. 00:04:00
Excuse me, the interest payments. 00:04:05
We've got the first interest payment is due February 1st of 2025, that's 100 and 12,463 seventeen. 00:04:07
8-1 of 25240 thousand nine, 9250. 00:04:18
And then every. 00:04:25
Six months thereafter, February 1st of 26249 Ninety 250. 00:04:28
And so that continues all the way to February 1 of 2029. 00:04:35
Which? 00:04:42
Is the last payment on the interest. 00:04:43
The. 00:04:47
Yes. 00:04:50
We're required to pay the interest, yes, we can't pay principal, but we're required to pay the interest. That is correct. OK, just 00:04:51
making sure. 00:04:55
And then is that right? Excuse me, is that interest required for all five years? OK. 00:05:00
Yep, that's the required payment and you have the right to pay additional principal, although just in terms of the refinancing and 00:05:06
you can't do that for. 00:05:10
Until after the first year, right? 00:05:17
The projected closing. 00:05:20
Targeted closing tentatively is going to be far November 7th. 00:05:23
And it got pushed a little bit back because of the election, which is November 5th. 00:05:32
So that's everything going going fine. 00:05:38
November 7th. 00:05:43
So we're working on getting documents signed by. 00:05:46
The tenants in the building. 00:05:50
And so making sure that. 00:05:54
The leases that are enforced have not been modified or changed. 00:05:57
That we're on the same page, that we know exactly. 00:06:01
What the obligations to the tenants are for the building that we're purchasing? 00:06:05
How many tenants are there? 00:06:10
There were six when we started and three are going to be gone. 00:06:13
And so we're down to three left, three tenants and does that include Chase itself? So we'll have Chase, which I believe is right 00:06:18
around 90,000 annually on their lease payments, 90,000 annually. And then the second and third floors are going to be. 00:06:27
Vacated so that we can start moving third, third floor will be vacated in the first quarter. The 2nd floor Clark deets I believe 00:06:36
is on the 2nd floor, but. 00:06:41
They're not leaving, but phenomena is. 00:06:47
And so. 00:06:50
And then the New Albany Tribune has already cancelled out on their lease. 00:06:52
So and they asked if they could be left. 00:06:57
Released from levels and we thought it was pretty to go ahead and begin clearing space. Sure. So I think it's nice that you know 00:07:00
there's there's two other ones beside beside the bank. Who are they? 00:07:05
You said one, right? Clark Dietz was one. 00:07:14
And they want to stay. 00:07:19
The other I know Chase wants to. 00:07:22
The other two want to stay. 00:07:26
There they're currently working with Matt with regards to potentially other places. He's approaching everyone of his tenants. 00:07:28
Because that's fine. That was my question, OK. 00:07:39
I wasn't sure how that was. It's it's a evolving process with we basically stand spaces we can get retaining Chase in position, 00:07:43
which should almost cover that. Yeah, the minimal required payment. 00:07:49
So, and I foresee his. 00:07:56
Making some principal payments. 00:07:58
Along the way once we you know this all being financed for the CCD fund and. 00:08:00
We're working through the details on utility transfers and. 00:08:08
Arrangements for maintenance and management of the property and. 00:08:12
We had. 00:08:16
Very lengthy 38 page inspection report that. 00:08:17
Show two small red flags that man's gonna be working on before transfer so. 00:08:22
And I would like to order was a ground fault and was. 00:08:27
An issue underneath one of the the water pills on the. 00:08:31
The word attic space so. 00:08:35
So I've been in contact with closing agent and all the other players to make sure. 00:08:38
Yeah, that was part of the. I didn't know that you said that. I didn't see it before. 00:08:42
Before it's hot off the press, literally, we'll look at tonight. 00:08:47
Thank you. So any questions? 00:08:55
On that. 00:08:59
Are we, are we making a plan about who's going to move in there? And. 00:09:02
When and when, the short answer is yes, but that's complicated by one of the additions I was going to put on here. But we can talk 00:09:07
about that right now, which is, you know, Don Loft has announced his retirement effective early January. So some of those things 00:09:12
that he was taking on, we're going to have to see whether he's continuing to take those on and get closure on that before the end 00:09:16
of the year. 00:09:21
We posted for his job position and also did some who've done some internal discussions. OK, So if that's better, yes. OK. So we 00:09:27
posted his job position and we've done some internal. 00:09:35
I would call it soft interviewing. Nothing. No formal sit down or or offers have been made. 00:09:44
And then I've directed Rick to talk with Don about keeping him on through 2025 and some sort of part-time or consultative. 00:09:50
Capacity and he's open to doing that. 00:09:58
It's just going to be a difficult year of transition. We've got a lot going on, as everybody here knows, and we can't afford to 00:10:02
have any. 00:10:05
Balls dropped budgetarily or in any other way. So a little bit of extra oversight during that first year I think is a wise thing. 00:10:09
And I really even though we posted the position we. 00:10:17
You know the right person there. 00:10:21
Are we doing a like a? 00:10:23
Search countrywide or. 00:10:28
Indeed, Yeah. And then it will share them by e-mail with all employees. OK. 00:10:35
OK, Yeah. So I don't care if we hire somebody from next door or from. 00:10:41
From Massachusetts. 00:10:48
We want to get a good fit and then again I want to encourage Don to hang around for. 00:10:51
Through most of 2025, get some institutional memory and oversight on everything. 00:10:57
#2 on here is the Judicial Center and I would say we're on track with that. Again, thank you very, very much, Rick, right now. 00:11:04
They're being. 00:11:13
Basically looking to see whether we can do a phase build out or not or whether that would have to come down and then build 1 00:11:14
structure there. And we shouldn't have an answer on that by the end of the fall, I would think, so that we'll know which way we'll 00:11:18
be looking at that. 00:11:22
Funding will be a challenge, perhaps. 00:11:28
But we need to know what we're going to. 00:11:32
Build before we fully. 00:11:34
Come out with funding on that issue. 00:11:38
So. 00:11:40
See if I know we're still on the track for $40 million. We're still on the track for somewhere. 00:11:43
And that's the that's the value continues to be kicked around out. I will tell you the Sheriff's Department has come forward and 00:11:50
said that. 00:11:53
It's time to start looking at new juvenile detention centers and jail capacity and. 00:11:58
Yeah, so none of this ever ends, you know? 00:12:03
But I still feel like the ideal site for all of that is downtown, as much as we can keep it there. 00:12:09
The building authority budget. 00:12:18
I think that was placed on here as a placeholder, but. 00:12:23
We do need some action on that, I believe. 00:12:26
I think there's a shortfall. 00:12:30
On the budget as listed, have you guys had discussions on this in your most recent council meetings on the budget sessions or not? 00:12:34
Yeah, we did. And I, I talked to Aaron Combs as well. 00:12:40
Umm, he seems to think it may be a shortfall from. 00:12:47
Nothing placed in there from the cities. 00:12:53
Umm, lease of the Police Department area but. 00:12:56
I can't decipher if that's it or not. So I think the gap was about 170 and I think anticipation from the police departments always 00:13:02
been around 200 and. 00:13:07
Right. Again, they've given no formal notice, but everybody seems to indicate that they're going to be leaving first quarter of 00:13:13
the first quarter, yes, so. 00:13:17
My suggestion would be to. 00:13:24
Go back to the building authority and try to modify the. 00:13:28
The budget for next year down. 00:13:32
Because it looks to me it looks like everything is covered. 00:13:36
So we didn't have air and standing up at our meeting saying. 00:13:39
You know. 00:13:44
We've got to have that. 00:13:46
Extra 150,000. 00:13:48
So I think they're open to. 00:13:50
Revising that down and signing that and then you know, of course, if there's. 00:13:55
Maintenance issues, that's going to be. 00:14:01
A different point of discussion because all that. 00:14:04
Was taken out of, you know, the capital projects and everything were taken out of the original budget and so. 00:14:06
OK, so I need to understand. 00:14:12
Isn't there a document that has to be signed by both parties? 00:14:15
In order for this budget to go into place. 00:14:23
And be accepted by both the Council and the, and I mean the Commissioners and. 00:14:27
The building authority. 00:14:33
And when does When does that need to be signed? 00:14:35
There's no actual for like so, so with the different taxing districts, we have a form for that you all sign. 00:14:39
Budget adoption that gets submitted to the state. So the building authority, we have a long term lease. Within that lease the 00:14:46
agreement is that our rent and it specifies it this way, that our rent is basically the contract that is signed on an annual 00:14:53
budget that is signed off on an annual basis by the commissioners. 00:14:59
It's always come before the Council to fund, but there's not a form that you all, but the commissioners do have some. 00:15:07
That's right. 00:15:16
You all didn't need a huge courtesy of budget adoption, but the caveat in place with your wording that we do know that there are 00:15:32
some adjustments that have to happen with the building authorities budget. But again, those are all things that that have to be 00:15:36
decided. 00:15:41
Building authority and then brought back, and I believe there was potential. 00:15:48
Duplication in security cost. I might be misremembering that. I have a lot of information on the Strawberry this last two weeks 00:15:52
with the launch of our financial system. 00:15:57
But I think that there was a question concerning whether or not building security has been duplicated in the building authority 00:16:02
budget that we were to fund, as well as the commissioners budget that we are funding. So that is something that the Council 00:16:07
Commissioner needs to look at as well. 00:16:12
Yeah, I mean, the commissioners move security under our. 00:16:20
So. 00:16:24
That was the commissioners, so you guys might look at that. 00:16:26
If my memory is correct, I believe after that part is corrected there's about a $30,000. 00:16:32
Delta to work through SO. 00:16:39
Do you want to work that through that with the committee that was established? But it's really a commissioner issue, it really is. 00:16:47
Because we did have a commissioner on that committee or we could schedule Susanna, we can have. 00:16:56
Aaron, come in, if he's still representing the building authority and come in and speak with us maybe before our next meeting on 00:17:04
Tuesday like that. 00:17:08
If we don't have anything else at that. 00:17:13
5:00. 00:17:15
Because you guys have not really been formally. 00:17:21
We've met with a building authority, but it's been. 00:17:24
You know, since the first half of the year that we've met with them. So I would say since it's time sensitive, we've probably just 00:17:27
meet directly with them if he can come in and do that that during the administrative meeting. 00:17:31
Any thoughts on that, John? 00:17:38
OK, I. 00:17:41
Just one other thought on that Judicial Center update issue. So far all of the studies and the engineering and everything that is 00:17:44
being done has been. 00:17:48
Paid for out of the CCD fund. 00:17:55
I believe we're still on solid footing for 2025 to not only cover the chase building costs, but also the preliminary studies and 00:17:58
to at least get us to a point where we know. 00:18:04
Which way we're going to go on that that. 00:18:11
Project so just to basically. 00:18:13
We won't be asking for any further money on that. 00:18:17
Until those studies are done, I think it's going to come down to. 00:18:20
Whether or not. 00:18:24
Whichever plan we go with for this, for you ladies, we can do that and we can sell it. 00:18:27
And get buy in from the voters. And if not, then I think we're going to be just. 00:18:32
Hunkered down into a million per year for the current building until it. 00:18:36
Becomes obsolete one way or the other. 00:18:41
Health Department, any updates on? 00:18:46
We need to just. 00:18:53
Move the microphone over there for you. 00:18:55
Rick Fox, County Attorney. 00:18:58
We're still in the process of. 00:19:02
Getting the appraisals and we. 00:19:06
They're all in, but for one. 00:19:09
And I expect that anytime. 00:19:12
I know the numbers on it. So I think that we're. 00:19:16
Probably OK with regards to moving forward, but until I get. 00:19:19
That agreement and I won't be able to move forward with drafting the. 00:19:24
Whatever documents that we need to get drafted to move forward. 00:19:30
What's your anticipated? 00:19:35
Timeline. 00:19:37
I. 00:19:39
It it should happen. 00:19:43
Somewhat quick, quick, but once again we're. 00:19:46
We're in that. 00:19:50
Executive session, sort of. 00:19:52
Period of time that. 00:19:57
This isn't something really to discuss in public. 00:20:00
Other than other than, it's moving forward and it's on our radar. 00:20:04
There have been some discussions on. 00:20:08
Where that money would come from to pay for that? Correct? 00:20:12
Yeah, but I don't think we're. 00:20:15
I don't want to put the cart right either. I just want to make sure that we've got people. 00:20:19
Here and everybody has ideas that I don't want it. 00:20:23
Speak before anything. 00:20:27
Done but. 00:20:29
OK, Yeah. 00:20:31
No real estate guy, he doesn't want to jinx any deals before it's it's inked. You know, waiting for it to get inked. 00:20:33
But then a lot of people. 00:20:42
In combined effort with regards to these projects over the years, I would look back at the it's been an incredibly busy year. 00:20:46
It's not done yet, so. 00:20:52
And again the. 00:20:57
Not once, but needs on those two buildings. 00:20:59
The only other thing I was going to add to. 00:21:04
Today's agenda, but, but I have one other thing I want to put up for it for a little bit of brief discussion or just to put a pin 00:21:07
on something here in a minute. But does anybody have any new business they'd like to? 00:21:12
We don't get everybody together, all that. 00:21:18
Often, so it's a good time to. 00:21:21
Speak your piece. 00:21:24
I guess the the one thing that I have a question about is. 00:21:27
I know when we looked at. 00:21:32
Couple years back. 00:21:34
That the. 00:21:36
Adult probation, county corrections, we're going to move down to the city, county better, we're going to vacate that at that time. 00:21:38
As for the health department, OK. 00:21:42
But you know they're not going to go out to Grandma Rd. which is fine. 00:21:46
But again. 00:21:51
Have we decided where they're going to go? Because if they're going to go downtown. 00:21:53
And we need to size it. 00:21:58
For for the. 00:22:00
Adult probation as well as as well as PD corrections. 00:22:04
And if not, if they're going to stay there, then is there any kind of cost that needs to be, you know, renovation costs and, and 00:22:08
ultimately you're going to need less of a building downtown. So that's, that's something we need to look at is they need someone. 00:22:15
Yeah, I've heard different stories, but anyways. 00:22:23
We need to find out for sure where they're going to go or where they're going to stay before we decide what side building we're 00:22:26
going to be. 00:22:29
Yeah, I mean, the last report I heard was. 00:22:32
But this was secondhand was that they were happy with where they were and it was functioning for them. But again, maybe we need to 00:22:35
get their eyes, you know, in a session and make sure we hear that from him directly. It's the courts that make that decision 00:22:42
before I heard the courts, one of them downtown. That needs to be hashed out and resolved before we start. 00:22:48
Decide what size building point you have from from what. 00:22:55
From what I've heard from both sides was. 00:23:00
Downtown would be great or closer to downtown but not so sure they wanted to be in the same building mixing population. 00:23:04
They didn't want to have. 00:23:15
A certain population coming in. 00:23:17
While there's court going on and, you know, same building. 00:23:19
They thought it would be better to keep them separate. I don't. Yeah, that's something. Yeah. I don't know. 00:23:23
100% how it all operates. 00:23:29
With that but. 00:23:32
And and when it comes to downtown, we do have some real estate in our possession that we might be able to fit out for that, so. 00:23:35
That's number. 00:23:44
I would say Rick's list of. I would say if they stay where they are, it's going to need some some upgrades, but it is functional. 00:23:45
Any other new business? 00:23:58
Pick one and pass it down. 00:24:02
Again, this is not for. 00:24:05
Heated discussion today or anything like this, this is just to kind of put a pin in this and like. 00:24:08
Everybody know that? 00:24:12
At least where my thoughts are on this particular. 00:24:15
Thereby get one of these. 00:24:17
So in talking. 00:24:22
To Don and others about the history of. 00:24:25
Different budgets over the last decade or two. 00:24:28
I asked him to pull the data together. This is just a look at. 00:24:31
Items financially that at one point in time were covered by the general fund but then were shifted out. 00:24:37
And move to edit. And from what I've understood from people who were present who had institutional memory of it, I have not combed 00:24:44
through any minutes or anything. There was a a gentle person's agreement that if the council member was on solid financial footing 00:24:52
again, that some of these items might be re assumed by the general fund and moved away from the edit fund. 00:25:01
The Commissioners Edit fund over the years has become so pinched. 00:25:11
As everybody else has been, that we found. 00:25:16
Paved roads and bridges, and the bridges in particular when we look at the inventory on that. 00:25:18
We have some. 00:25:24
Some of our structures that are really, really in need of. 00:25:27
Planned repair before they become reactive repair. 00:25:31
So the bridges in particular would be #1 on my list if we could get some of these funds. 00:25:35
Return to us overtime. So since 2012, I mean the numbers here speak for themselves, but for those of you that don't have the sheet 00:25:41
in front of you, it amounts to just over $2,100,000 of annual funding that the commissioners have kind of assumed rather than the 00:25:48
general fund. 00:25:55
So. 00:26:02
Again, I'm putting just a pin in this. I'm not expecting any action on this other than maybe some. 00:26:05
Thoughtful reflection upon it. 00:26:11
Yeah, I've got a couple extra. So the invite wants these. They can be handed out or people can grab them afterwards. I've got a 00:26:14
few of these and I know John. 00:26:19
Either consciously or unconsciously, that kind of this. 00:26:26
Idea was kind of seeded from discussions that you and I had had, so I don't know if you have any comments. I again, I'm not 00:26:28
looking to spring this on anybody and say I want action out of it. I just, this has happened over the decades and it would be nice 00:26:33
if we could. 00:26:38
Look for corrective action on this. 00:26:44
If the general budget becomes more flush. 00:26:46
That might be wishful thinking, you know. 00:26:50
You know, and I agree. And bread. 00:26:53
Great, you're here for a lot of it too. 00:26:55
You know and you know, I do want to command. 00:26:58
You know they can't of council because when we were on account of council, our goal was to get a budget and at the end once we got 00:27:01
a budget, we were, we were relieved. 00:27:05
But you know, over the past couple years, County Council, they've put together A4 year, five year plan. 00:27:10
And that's great, you know. 00:27:15
But back then we had no money. 00:27:17
Uh, people come up and they said, we said no raises, you know, and we couldn't, we couldn't afford it. And there was times where 00:27:20
general fund was hit bad. So the commissioners, we asked the commissioners at that time. 00:27:25
For them to go ahead if they would, you know take on some of this and as you got got a document here they have. 00:27:30
And we still haven't so. 00:27:37
But you know the way that the general fund could take on. 00:27:39
You know this. 00:27:43
All of it, part of it. Gradually it would be. 00:27:46
More money to the Ed Fund. 00:27:49
For us to do the roads. 00:27:51
Bridges. Whatever. 00:27:53
So yeah. 00:27:54
Now bridge is in particular, I said I had to sit down and look at that inventory recently and it's just that's, that's a problem 00:27:56
that's not going to take care of itself. So I'd like to get ahead of it. 00:28:02
All right, I. 00:28:09
Ask for closing comments from the board here in a moment, but do we have any comments from our public officials that are here 00:28:12
today? 00:28:15
You don't normally join us so I didn't know if you had that. 00:28:20
Pleasure seeing you. 00:28:24
So Steve, anything going on? 00:28:27
Yeah. 00:28:31
Congress meetings in Kashmir. 00:28:33
Yeah, By the way, Bridge 51 property acquisition continues to go. 00:28:35
At Schedule 2, So we're still looking at letting that project summer of next year. 00:28:40
Any comments for the public? 00:28:46
OK. Any closing comments from? 00:28:50
Boards today. The boards, plural. 00:28:53
China. Nothing. 00:28:58
We do need to approve. 00:29:01
OK. I'll look for approval of that. I wasn't here. 00:29:05
Yeah, I was not present, but. 00:29:08
The motion to approve. 00:29:11
I'll second all in favor, aye. 00:29:13
OK, motion to adjourn. 00:29:17
Second. All right. Thank you all. 00:29:19
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Joint meeting of Floyd County Commissioners and County Council together to please rise and join me for the Pledge of Allegiance. 00:00:00
The United States of America and to the Republic for which it stands, one nation under God, indivisible, with liberty and justice 00:00:08
for all. 00:00:14
OK. We have a few items on the agenda. There's a little bit of new business we'll cover here at the end, at least from me I. 00:00:21
Again, I just like having these opportunities for everybody to get together and have public input as well and. 00:00:31
Thank you for the reminder on that. If everyone else I was their cell phones at begin. 00:00:38
Much appreciated. So we'll begin with a update on the Chase building acquisition purchase of. 00:00:43
We're on schedule is important, but Rick if you wouldn't come up and. 00:00:51
Let us know where we are on that schedule. 00:00:56
I will. 00:00:59
Rick Fox, County Attorney. 00:01:00
I didn't bring my glasses so I'm. 00:01:04
These are readers. 00:01:07
I have to charge you by the hour though. 00:01:09
Everything will be rose colored. 00:01:14
What? What? I have no idea. 00:01:18
They just work. 00:01:23
The I just got this hot off the press. I followed it into the three commissioners. I'm just going to go through a little bit with 00:01:25
regards to the bond issue for the purchase of the Chase building. 00:01:32
And Danny, I'm going to give you a. 00:01:39
Copy of this, the paper copy and. 00:01:43
As long as I can remember and when they e-mail it to Steve and then he can disperse it or you can disperse it to the rest of the 00:01:47
board. 00:01:49
The bond process has moved along and. 00:01:55
Have they done the bidding? And we have. 00:02:00
Merchants Bank, First Merchants Bank, They're headquartered in Carmel. They gave the lowest bid, 4.7% for the bond. 00:02:04
And so we had five bids that came in. 00:02:13
They basically range from 4.7 to 6%. 00:02:18
And the bit behind first merchants was 4.75%. 00:02:24
So those two 'cause. 00:02:30
It's a five year ban, as you know, I. 00:02:33
The. 00:02:37
One thing that we wanted and we got and that is the right to convert the bond. And so we're required to have the band for one, one 00:02:40
year. It is a five year ban, but anytime after that first year, depending on the market conditions, we can convert to the bond. 00:02:50
So that gives us a lot of flexibility in the future based upon the rates and what we see from them path. 00:03:01
The bond is for. 00:03:12
$10,255,000. 00:03:18
After costs, we will have approximately $10 million that will be deposited. 00:03:22
The. 00:03:32
Bond repayment. 00:03:34
Schedule where scheduled to repay the interest and that's the. 00:03:38
The minimum amount we can also use the additional proceeds that we have to repay principal. 00:03:43
Before we go into bonding down the road and. 00:03:51
I I think they're anticipating that, but in regards to the principal payments. 00:03:55
It's on page 4. 00:04:00
Excuse me, the interest payments. 00:04:05
We've got the first interest payment is due February 1st of 2025, that's 100 and 12,463 seventeen. 00:04:07
8-1 of 25240 thousand nine, 9250. 00:04:18
And then every. 00:04:25
Six months thereafter, February 1st of 26249 Ninety 250. 00:04:28
And so that continues all the way to February 1 of 2029. 00:04:35
Which? 00:04:42
Is the last payment on the interest. 00:04:43
The. 00:04:47
Yes. 00:04:50
We're required to pay the interest, yes, we can't pay principal, but we're required to pay the interest. That is correct. OK, just 00:04:51
making sure. 00:04:55
And then is that right? Excuse me, is that interest required for all five years? OK. 00:05:00
Yep, that's the required payment and you have the right to pay additional principal, although just in terms of the refinancing and 00:05:06
you can't do that for. 00:05:10
Until after the first year, right? 00:05:17
The projected closing. 00:05:20
Targeted closing tentatively is going to be far November 7th. 00:05:23
And it got pushed a little bit back because of the election, which is November 5th. 00:05:32
So that's everything going going fine. 00:05:38
November 7th. 00:05:43
So we're working on getting documents signed by. 00:05:46
The tenants in the building. 00:05:50
And so making sure that. 00:05:54
The leases that are enforced have not been modified or changed. 00:05:57
That we're on the same page, that we know exactly. 00:06:01
What the obligations to the tenants are for the building that we're purchasing? 00:06:05
How many tenants are there? 00:06:10
There were six when we started and three are going to be gone. 00:06:13
And so we're down to three left, three tenants and does that include Chase itself? So we'll have Chase, which I believe is right 00:06:18
around 90,000 annually on their lease payments, 90,000 annually. And then the second and third floors are going to be. 00:06:27
Vacated so that we can start moving third, third floor will be vacated in the first quarter. The 2nd floor Clark deets I believe 00:06:36
is on the 2nd floor, but. 00:06:41
They're not leaving, but phenomena is. 00:06:47
And so. 00:06:50
And then the New Albany Tribune has already cancelled out on their lease. 00:06:52
So and they asked if they could be left. 00:06:57
Released from levels and we thought it was pretty to go ahead and begin clearing space. Sure. So I think it's nice that you know 00:07:00
there's there's two other ones beside beside the bank. Who are they? 00:07:05
You said one, right? Clark Dietz was one. 00:07:14
And they want to stay. 00:07:19
The other I know Chase wants to. 00:07:22
The other two want to stay. 00:07:26
There they're currently working with Matt with regards to potentially other places. He's approaching everyone of his tenants. 00:07:28
Because that's fine. That was my question, OK. 00:07:39
I wasn't sure how that was. It's it's a evolving process with we basically stand spaces we can get retaining Chase in position, 00:07:43
which should almost cover that. Yeah, the minimal required payment. 00:07:49
So, and I foresee his. 00:07:56
Making some principal payments. 00:07:58
Along the way once we you know this all being financed for the CCD fund and. 00:08:00
We're working through the details on utility transfers and. 00:08:08
Arrangements for maintenance and management of the property and. 00:08:12
We had. 00:08:16
Very lengthy 38 page inspection report that. 00:08:17
Show two small red flags that man's gonna be working on before transfer so. 00:08:22
And I would like to order was a ground fault and was. 00:08:27
An issue underneath one of the the water pills on the. 00:08:31
The word attic space so. 00:08:35
So I've been in contact with closing agent and all the other players to make sure. 00:08:38
Yeah, that was part of the. I didn't know that you said that. I didn't see it before. 00:08:42
Before it's hot off the press, literally, we'll look at tonight. 00:08:47
Thank you. So any questions? 00:08:55
On that. 00:08:59
Are we, are we making a plan about who's going to move in there? And. 00:09:02
When and when, the short answer is yes, but that's complicated by one of the additions I was going to put on here. But we can talk 00:09:07
about that right now, which is, you know, Don Loft has announced his retirement effective early January. So some of those things 00:09:12
that he was taking on, we're going to have to see whether he's continuing to take those on and get closure on that before the end 00:09:16
of the year. 00:09:21
We posted for his job position and also did some who've done some internal discussions. OK, So if that's better, yes. OK. So we 00:09:27
posted his job position and we've done some internal. 00:09:35
I would call it soft interviewing. Nothing. No formal sit down or or offers have been made. 00:09:44
And then I've directed Rick to talk with Don about keeping him on through 2025 and some sort of part-time or consultative. 00:09:50
Capacity and he's open to doing that. 00:09:58
It's just going to be a difficult year of transition. We've got a lot going on, as everybody here knows, and we can't afford to 00:10:02
have any. 00:10:05
Balls dropped budgetarily or in any other way. So a little bit of extra oversight during that first year I think is a wise thing. 00:10:09
And I really even though we posted the position we. 00:10:17
You know the right person there. 00:10:21
Are we doing a like a? 00:10:23
Search countrywide or. 00:10:28
Indeed, Yeah. And then it will share them by e-mail with all employees. OK. 00:10:35
OK, Yeah. So I don't care if we hire somebody from next door or from. 00:10:41
From Massachusetts. 00:10:48
We want to get a good fit and then again I want to encourage Don to hang around for. 00:10:51
Through most of 2025, get some institutional memory and oversight on everything. 00:10:57
#2 on here is the Judicial Center and I would say we're on track with that. Again, thank you very, very much, Rick, right now. 00:11:04
They're being. 00:11:13
Basically looking to see whether we can do a phase build out or not or whether that would have to come down and then build 1 00:11:14
structure there. And we shouldn't have an answer on that by the end of the fall, I would think, so that we'll know which way we'll 00:11:18
be looking at that. 00:11:22
Funding will be a challenge, perhaps. 00:11:28
But we need to know what we're going to. 00:11:32
Build before we fully. 00:11:34
Come out with funding on that issue. 00:11:38
So. 00:11:40
See if I know we're still on the track for $40 million. We're still on the track for somewhere. 00:11:43
And that's the that's the value continues to be kicked around out. I will tell you the Sheriff's Department has come forward and 00:11:50
said that. 00:11:53
It's time to start looking at new juvenile detention centers and jail capacity and. 00:11:58
Yeah, so none of this ever ends, you know? 00:12:03
But I still feel like the ideal site for all of that is downtown, as much as we can keep it there. 00:12:09
The building authority budget. 00:12:18
I think that was placed on here as a placeholder, but. 00:12:23
We do need some action on that, I believe. 00:12:26
I think there's a shortfall. 00:12:30
On the budget as listed, have you guys had discussions on this in your most recent council meetings on the budget sessions or not? 00:12:34
Yeah, we did. And I, I talked to Aaron Combs as well. 00:12:40
Umm, he seems to think it may be a shortfall from. 00:12:47
Nothing placed in there from the cities. 00:12:53
Umm, lease of the Police Department area but. 00:12:56
I can't decipher if that's it or not. So I think the gap was about 170 and I think anticipation from the police departments always 00:13:02
been around 200 and. 00:13:07
Right. Again, they've given no formal notice, but everybody seems to indicate that they're going to be leaving first quarter of 00:13:13
the first quarter, yes, so. 00:13:17
My suggestion would be to. 00:13:24
Go back to the building authority and try to modify the. 00:13:28
The budget for next year down. 00:13:32
Because it looks to me it looks like everything is covered. 00:13:36
So we didn't have air and standing up at our meeting saying. 00:13:39
You know. 00:13:44
We've got to have that. 00:13:46
Extra 150,000. 00:13:48
So I think they're open to. 00:13:50
Revising that down and signing that and then you know, of course, if there's. 00:13:55
Maintenance issues, that's going to be. 00:14:01
A different point of discussion because all that. 00:14:04
Was taken out of, you know, the capital projects and everything were taken out of the original budget and so. 00:14:06
OK, so I need to understand. 00:14:12
Isn't there a document that has to be signed by both parties? 00:14:15
In order for this budget to go into place. 00:14:23
And be accepted by both the Council and the, and I mean the Commissioners and. 00:14:27
The building authority. 00:14:33
And when does When does that need to be signed? 00:14:35
There's no actual for like so, so with the different taxing districts, we have a form for that you all sign. 00:14:39
Budget adoption that gets submitted to the state. So the building authority, we have a long term lease. Within that lease the 00:14:46
agreement is that our rent and it specifies it this way, that our rent is basically the contract that is signed on an annual 00:14:53
budget that is signed off on an annual basis by the commissioners. 00:14:59
It's always come before the Council to fund, but there's not a form that you all, but the commissioners do have some. 00:15:07
That's right. 00:15:16
You all didn't need a huge courtesy of budget adoption, but the caveat in place with your wording that we do know that there are 00:15:32
some adjustments that have to happen with the building authorities budget. But again, those are all things that that have to be 00:15:36
decided. 00:15:41
Building authority and then brought back, and I believe there was potential. 00:15:48
Duplication in security cost. I might be misremembering that. I have a lot of information on the Strawberry this last two weeks 00:15:52
with the launch of our financial system. 00:15:57
But I think that there was a question concerning whether or not building security has been duplicated in the building authority 00:16:02
budget that we were to fund, as well as the commissioners budget that we are funding. So that is something that the Council 00:16:07
Commissioner needs to look at as well. 00:16:12
Yeah, I mean, the commissioners move security under our. 00:16:20
So. 00:16:24
That was the commissioners, so you guys might look at that. 00:16:26
If my memory is correct, I believe after that part is corrected there's about a $30,000. 00:16:32
Delta to work through SO. 00:16:39
Do you want to work that through that with the committee that was established? But it's really a commissioner issue, it really is. 00:16:47
Because we did have a commissioner on that committee or we could schedule Susanna, we can have. 00:16:56
Aaron, come in, if he's still representing the building authority and come in and speak with us maybe before our next meeting on 00:17:04
Tuesday like that. 00:17:08
If we don't have anything else at that. 00:17:13
5:00. 00:17:15
Because you guys have not really been formally. 00:17:21
We've met with a building authority, but it's been. 00:17:24
You know, since the first half of the year that we've met with them. So I would say since it's time sensitive, we've probably just 00:17:27
meet directly with them if he can come in and do that that during the administrative meeting. 00:17:31
Any thoughts on that, John? 00:17:38
OK, I. 00:17:41
Just one other thought on that Judicial Center update issue. So far all of the studies and the engineering and everything that is 00:17:44
being done has been. 00:17:48
Paid for out of the CCD fund. 00:17:55
I believe we're still on solid footing for 2025 to not only cover the chase building costs, but also the preliminary studies and 00:17:58
to at least get us to a point where we know. 00:18:04
Which way we're going to go on that that. 00:18:11
Project so just to basically. 00:18:13
We won't be asking for any further money on that. 00:18:17
Until those studies are done, I think it's going to come down to. 00:18:20
Whether or not. 00:18:24
Whichever plan we go with for this, for you ladies, we can do that and we can sell it. 00:18:27
And get buy in from the voters. And if not, then I think we're going to be just. 00:18:32
Hunkered down into a million per year for the current building until it. 00:18:36
Becomes obsolete one way or the other. 00:18:41
Health Department, any updates on? 00:18:46
We need to just. 00:18:53
Move the microphone over there for you. 00:18:55
Rick Fox, County Attorney. 00:18:58
We're still in the process of. 00:19:02
Getting the appraisals and we. 00:19:06
They're all in, but for one. 00:19:09
And I expect that anytime. 00:19:12
I know the numbers on it. So I think that we're. 00:19:16
Probably OK with regards to moving forward, but until I get. 00:19:19
That agreement and I won't be able to move forward with drafting the. 00:19:24
Whatever documents that we need to get drafted to move forward. 00:19:30
What's your anticipated? 00:19:35
Timeline. 00:19:37
I. 00:19:39
It it should happen. 00:19:43
Somewhat quick, quick, but once again we're. 00:19:46
We're in that. 00:19:50
Executive session, sort of. 00:19:52
Period of time that. 00:19:57
This isn't something really to discuss in public. 00:20:00
Other than other than, it's moving forward and it's on our radar. 00:20:04
There have been some discussions on. 00:20:08
Where that money would come from to pay for that? Correct? 00:20:12
Yeah, but I don't think we're. 00:20:15
I don't want to put the cart right either. I just want to make sure that we've got people. 00:20:19
Here and everybody has ideas that I don't want it. 00:20:23
Speak before anything. 00:20:27
Done but. 00:20:29
OK, Yeah. 00:20:31
No real estate guy, he doesn't want to jinx any deals before it's it's inked. You know, waiting for it to get inked. 00:20:33
But then a lot of people. 00:20:42
In combined effort with regards to these projects over the years, I would look back at the it's been an incredibly busy year. 00:20:46
It's not done yet, so. 00:20:52
And again the. 00:20:57
Not once, but needs on those two buildings. 00:20:59
The only other thing I was going to add to. 00:21:04
Today's agenda, but, but I have one other thing I want to put up for it for a little bit of brief discussion or just to put a pin 00:21:07
on something here in a minute. But does anybody have any new business they'd like to? 00:21:12
We don't get everybody together, all that. 00:21:18
Often, so it's a good time to. 00:21:21
Speak your piece. 00:21:24
I guess the the one thing that I have a question about is. 00:21:27
I know when we looked at. 00:21:32
Couple years back. 00:21:34
That the. 00:21:36
Adult probation, county corrections, we're going to move down to the city, county better, we're going to vacate that at that time. 00:21:38
As for the health department, OK. 00:21:42
But you know they're not going to go out to Grandma Rd. which is fine. 00:21:46
But again. 00:21:51
Have we decided where they're going to go? Because if they're going to go downtown. 00:21:53
And we need to size it. 00:21:58
For for the. 00:22:00
Adult probation as well as as well as PD corrections. 00:22:04
And if not, if they're going to stay there, then is there any kind of cost that needs to be, you know, renovation costs and, and 00:22:08
ultimately you're going to need less of a building downtown. So that's, that's something we need to look at is they need someone. 00:22:15
Yeah, I've heard different stories, but anyways. 00:22:23
We need to find out for sure where they're going to go or where they're going to stay before we decide what side building we're 00:22:26
going to be. 00:22:29
Yeah, I mean, the last report I heard was. 00:22:32
But this was secondhand was that they were happy with where they were and it was functioning for them. But again, maybe we need to 00:22:35
get their eyes, you know, in a session and make sure we hear that from him directly. It's the courts that make that decision 00:22:42
before I heard the courts, one of them downtown. That needs to be hashed out and resolved before we start. 00:22:48
Decide what size building point you have from from what. 00:22:55
From what I've heard from both sides was. 00:23:00
Downtown would be great or closer to downtown but not so sure they wanted to be in the same building mixing population. 00:23:04
They didn't want to have. 00:23:15
A certain population coming in. 00:23:17
While there's court going on and, you know, same building. 00:23:19
They thought it would be better to keep them separate. I don't. Yeah, that's something. Yeah. I don't know. 00:23:23
100% how it all operates. 00:23:29
With that but. 00:23:32
And and when it comes to downtown, we do have some real estate in our possession that we might be able to fit out for that, so. 00:23:35
That's number. 00:23:44
I would say Rick's list of. I would say if they stay where they are, it's going to need some some upgrades, but it is functional. 00:23:45
Any other new business? 00:23:58
Pick one and pass it down. 00:24:02
Again, this is not for. 00:24:05
Heated discussion today or anything like this, this is just to kind of put a pin in this and like. 00:24:08
Everybody know that? 00:24:12
At least where my thoughts are on this particular. 00:24:15
Thereby get one of these. 00:24:17
So in talking. 00:24:22
To Don and others about the history of. 00:24:25
Different budgets over the last decade or two. 00:24:28
I asked him to pull the data together. This is just a look at. 00:24:31
Items financially that at one point in time were covered by the general fund but then were shifted out. 00:24:37
And move to edit. And from what I've understood from people who were present who had institutional memory of it, I have not combed 00:24:44
through any minutes or anything. There was a a gentle person's agreement that if the council member was on solid financial footing 00:24:52
again, that some of these items might be re assumed by the general fund and moved away from the edit fund. 00:25:01
The Commissioners Edit fund over the years has become so pinched. 00:25:11
As everybody else has been, that we found. 00:25:16
Paved roads and bridges, and the bridges in particular when we look at the inventory on that. 00:25:18
We have some. 00:25:24
Some of our structures that are really, really in need of. 00:25:27
Planned repair before they become reactive repair. 00:25:31
So the bridges in particular would be #1 on my list if we could get some of these funds. 00:25:35
Return to us overtime. So since 2012, I mean the numbers here speak for themselves, but for those of you that don't have the sheet 00:25:41
in front of you, it amounts to just over $2,100,000 of annual funding that the commissioners have kind of assumed rather than the 00:25:48
general fund. 00:25:55
So. 00:26:02
Again, I'm putting just a pin in this. I'm not expecting any action on this other than maybe some. 00:26:05
Thoughtful reflection upon it. 00:26:11
Yeah, I've got a couple extra. So the invite wants these. They can be handed out or people can grab them afterwards. I've got a 00:26:14
few of these and I know John. 00:26:19
Either consciously or unconsciously, that kind of this. 00:26:26
Idea was kind of seeded from discussions that you and I had had, so I don't know if you have any comments. I again, I'm not 00:26:28
looking to spring this on anybody and say I want action out of it. I just, this has happened over the decades and it would be nice 00:26:33
if we could. 00:26:38
Look for corrective action on this. 00:26:44
If the general budget becomes more flush. 00:26:46
That might be wishful thinking, you know. 00:26:50
You know, and I agree. And bread. 00:26:53
Great, you're here for a lot of it too. 00:26:55
You know and you know, I do want to command. 00:26:58
You know they can't of council because when we were on account of council, our goal was to get a budget and at the end once we got 00:27:01
a budget, we were, we were relieved. 00:27:05
But you know, over the past couple years, County Council, they've put together A4 year, five year plan. 00:27:10
And that's great, you know. 00:27:15
But back then we had no money. 00:27:17
Uh, people come up and they said, we said no raises, you know, and we couldn't, we couldn't afford it. And there was times where 00:27:20
general fund was hit bad. So the commissioners, we asked the commissioners at that time. 00:27:25
For them to go ahead if they would, you know take on some of this and as you got got a document here they have. 00:27:30
And we still haven't so. 00:27:37
But you know the way that the general fund could take on. 00:27:39
You know this. 00:27:43
All of it, part of it. Gradually it would be. 00:27:46
More money to the Ed Fund. 00:27:49
For us to do the roads. 00:27:51
Bridges. Whatever. 00:27:53
So yeah. 00:27:54
Now bridge is in particular, I said I had to sit down and look at that inventory recently and it's just that's, that's a problem 00:27:56
that's not going to take care of itself. So I'd like to get ahead of it. 00:28:02
All right, I. 00:28:09
Ask for closing comments from the board here in a moment, but do we have any comments from our public officials that are here 00:28:12
today? 00:28:15
You don't normally join us so I didn't know if you had that. 00:28:20
Pleasure seeing you. 00:28:24
So Steve, anything going on? 00:28:27
Yeah. 00:28:31
Congress meetings in Kashmir. 00:28:33
Yeah, By the way, Bridge 51 property acquisition continues to go. 00:28:35
At Schedule 2, So we're still looking at letting that project summer of next year. 00:28:40
Any comments for the public? 00:28:46
OK. Any closing comments from? 00:28:50
Boards today. The boards, plural. 00:28:53
China. Nothing. 00:28:58
We do need to approve. 00:29:01
OK. I'll look for approval of that. I wasn't here. 00:29:05
Yeah, I was not present, but. 00:29:08
The motion to approve. 00:29:11
I'll second all in favor, aye. 00:29:13
OK, motion to adjourn. 00:29:17
Second. All right. Thank you all. 00:29:19
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