A reminder that the city council meeting will be MONDAY this week instead of Tuesday. The council is going to Pierre Monday night after the meeting for Sioux Falls day at the state legislature on Tuesday.
City Council Informational Meeting
There will be a legislative update and municipal election update.
Item #2, Approval of Change orders. The city has decided to ADD almost $350K in changes to the administration building. Would really like to know what was added that wasn’t in the original plan.
Item #44, 1st Reading on financing bonds from past years. This is a pretty long document, so I asked councilor Neitzert to break it down for me a bit;
This refinances the series 2007B sales tax bonds
Originally financed for 20 years
Quality of life bonds (library, parks, drake springs pool etc)
15.8 million balance remaining
Current average APR 4.58%
Refinance projects rate less than 3%
Reduce interest and principal payments by 2.6 million dollars over 10 years
Reduces 2nd penny obligation (payment) for the next 10 years
Soon we will have the amount (if any) of the 2017 capital surplus
We could use those dollars to pay down the principal and take out a smaller loan during the refinance
That will be the council’s option, to either pay down principal or do something ‘shovel ready’ now, that is TBD, we need to see our options
Actual refinance would happen in about March
As I understand it several councilors are looking at just paying off the principal instead of re-financing (if the money is there in surplus). I find it interesting the administration is bringing this forward BEFORE the council has seen the end of the year finance report and what surplus there is. I think the administration has those numbers right now and are not sharing them (SHOCKER!). I predict this re-finance is in conjunction with some kind of spin game the administration is going to play with the amount of debt the Huether administration racked up, how much has been paid down and slumping sales tax revenue. This outta be good.
Item #46, Resolution for the City to gift land for a state veterans cemetery. I have changed my mind on this one a bit, while I don’t take issue now with the city donating (some) of the land, I think they should take a different approach. After talking with a veteran I work with who volunteers countless hours assisting with veteran burials throughout the region we both came to the conclusion that maybe a small portion of land set aside for a mausoleum may be a better idea. More and more people are choosing to be cremated instead of full body burial. I think such a facility would not only be more economical, it could also be used as an example of what a veteran’s mausoleum could look like. It would also be easier to maintain by not taking up as much property. I also think that in light of the fact the Glory House had to pay for land and that the state legislature has yet to weigh in on the topic are contributing factors in rethinking this project.
Item#48-50, Resolutions for annexation.
Item#53, New Business, Naming the first set of nominating judges for the SIOUXPERHERO Award;
Councilor Rex Rolfing
Councilor Greg Neitzert
Councilor Pat Starr
Councilor Marshall Selberg
Jim David, City Council Office
Jami Gates, Big Brothers/Big Sisters of the Sioux Empire
Jessie Schmidt, Better Business Bureau
While I don’t take issue with MOST of these people, I think there should be more members from the community and maybe only two councilors at a time. I also think it is ODD to have the founder of this idea to sit as a judge, Selberg.
Planning Commission Meeting (Wed, Feb 7)
Besides your normal run of the mill rezones for housing and retail, Item#8 addresses expansion for the Sanford Sports Complex. The map is interesting because it shows the possible expansion for a new school also (but not rezoning yet). As I understand it, the SF School board voted to leave an OPEN option to accept the land, but not to accept that gift until they decided what kind of school they will build and if the location is appropriate. Once again, cart in front of the horse.