OFFICE OF THE CITY COUNCIL

 

CHERYL L. BROWN                                                                                                        117 WEST DUVAL STREET, SUITE 425

            DIRECTOR                                                                                                                                                                                 4TH FLOOR, CITY HALL

   OFFICE (904) 630-1452                                                                                                                                                          JACKSONVILLE, FLORIDA  32202

     FAX (904) 630-2906                                                                                                                                                                                                               

  E-MAIL: CLBROWN@coj.net

January 5, 2010

5:00 PM

 

Finance Committee Meeting Minutes

 

Monday January 4, 2010

Tape No.________________________

2:00p.m.

 

Council Chambers 1st Floor,  City Hall

Dana Farris,

Chief of Legislative Services

 

 

 

 

Stephen Joost, Chair

Legislative Aide: Sharonda Davis

William Bishop, Vice Chair

Council Auditor: Kirk Sherman

John Crescimbeni

Council Auditor: Janice Billy

Johnny Gaffney

Attorney: Peggy Sidman

Ray Holt

Attorney: Steve Rohan

E. Denise Lee Excused

Chief of Research: Jeff Clements

Don Redman arrived at 2:27 p.m.

Administration: Sherry Hall

Jack Webb

Clay Yarborough

 

 

Convened: 2:02 p.m.                                                Adjourned: 2:37 p.m.

 

 

 


Attendance:

 

Larry Peterson, Fire & Rescue - (2009-897)

Lindsey Ballas, JEDC - (2009-908)

James Richardson, Housing & Neighborhoods - (2009-900)

 

 

 

 

*Presentation of Investment Quarterly Report for 9-30-09 - Mickey Miller

 


 

Item/File No.

Title/History

 

 

1.  2007-1302

ORD Auth an Agreemt with Beach Boulevard Venture, LLC ("Beach") for Beach to Construct a Regional Stormwater Retention Pond for Benefit of Sandalwood Canal Flood Control Proj, City is to obtain Permits & Pay $2,000,000 for Required Mitigation based on 16.52 Acres of Wetland Impact. (McCain) (Req of Mayor)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 1/8/08

 

1. 12/11/2007 CO  Introduced: F,TEU

 

    1/2/2008 F Read 2nd & Rerefer

 

    1/3/2008 TEU Read 2nd & Rerefer

 

2. 1/8/2008 CO PH Read 2nd & Rereferred; F,TEU

 

 

 

BILL SUMMARY

 

DEFER

 

 

 

 

 

 

 

2.  2009-65

ORD Auth (1) Participation Agreemt with Springhill Missionary Baptist Church of NE Florida, Inc for Drainage & (2) Grant of Easemt to Springhill, at No Cost, to allow Stormwater Runoff from their Propty into a Drainage Pond Site that is Part of the Hart's Rd Reconstrn Proj. (Dist 7-Gaffney) (McCain) (Req of Mayor)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 2/10/09

 

1. 1/27/2009 CO  Introduced: F,TEU

 

    2/2/2009 F Read 2nd & Rerefer

 

    2/3/2009 TEU Read 2nd & Rerefer

 

2. 2/10/2009 CO PH Read 2nd & Rereferred; F, TEU

 

 

BILL SUMMARY

 

DEFER

 

 

 

 

 

 

 

 

3.  2009-197

RESO Expressing Council's Displeasure of JEA Considering Closing JEA Satellite Customer Care Ctrs; Request JEA Conduct Survey of Satellite Customers & Compile Survey Report & Make Recommendations to JEA Bd & City Council; Direct Distribution of Reso. (Sidman) (C/M Lee)

 

1. 2/24/2009 CO  Introduced: R,F,TEU

 

    3/2/2009 F Read 2nd & Rerefer;    3/2/2009 R Read 2nd & Rerefer

 

    3/3/2009 TEU Read 2nd & Rerefer

 

2. 3/10/2009 CO Read 2nd & Rereferred; R, F, TEU

 

 

BILL SUMMARY     R: defer

 

DEFER

 

 

 

 

 

 

 

 

4.  2009-198

RESO Encouraging JEA to keep open the Satellite Customer Care Ctrs; Expressing Concern with JEA Proposed Transaction Surcharge; Directing Distribution of Reso. (Reingold) (C/M Gaffney)

 

1. 2/24/2009 CO  Introduced: R,F,TEU

 

    3/2/2009 F Read 2nd & Rerefer;    3/2/2009 R Read 2nd & Rerefer

 

    3/3/2009 TEU Read 2nd & Rerefer

 

2. 3/10/2009 CO Read 2nd & Rereferred; R, F, TEU

 

 

R: defer

 

DEFER

 

 

 

 

 

 

 

 

5.  2009-499

ORD Auth Issuance of $360,000,000 BJP Sales Tax Rev Bonds to Refund Outstanding Spec Rev Bonds Issued for BJP Projs in Sec 761.102, Ord Code; Provide for Pymt of Bonds from ˝ Cent Sales Surtax Rev; Amend Ord 2001-431-E to Increase Rev Required to Issue Bonds. (Livermore, Freeman & McWilliams, P.A. & Rowland) (Req of Mayor)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 07/28/09

 

1. 6/23/2009 CO  Introduced: F,TEU

 

    7/20/2009 F Read 2nd & Rerefer

 

    7/21/2009 TEU Read 2nd & Rerefer

 

2. 7/28/2009 CO PH Read 2nd & Rereferred; F, TEU

 

 

BILL SUMMARY

 

DEFER

 

 

 

 

 

 

 

 

6.  2009-549

ORD-MC Amend Chapt 116 (Employees & Employee Benefits), Create new Sec 116.901 (Asst Mgmt Improvement Officers); AMIOs to be Apptd by Mayor & Confirmed by Council; Limit Number to 20;  Addressing Qualifications, Job Descriptions, Salary Ranges; Create Reporting Requirement; Protect Existing Employees. (Rohan) (C/M Johnson & Webb)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 8/11/09

 

1. 7/28/2009 CO  Introduced: R,F

 

    8/3/2009 F Read 2nd & Rerefer;    8/3/2009 R Read 2nd & Rerefer

 

2. 8/11/2009 CO PH Read 2nd & Rereferred; R, F

 

 

BILL SUMMARY    R: defer

 

DEFER

 

 

 

 

 

 

 

 

 

 

 

7.  2009-758

ORD Approp $415,633 from U.S. Dept of Justice, no local Match, to Estab a Recruitmt Prog to create Pool of Qualified Job Applicants thru Various Advertising Media & Job Fair Contacts; Apv Position. (BT 10-006) (RC 10-005) (McCain) (Req of Sheriff)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 10/13/09

 

1. 9/22/2009 CO  Introduced: F,PHS

 

    10/5/2009 PHS Read 2nd & Rerefer;    10/5/2009 F Read 2nd & Rerefer

 

2. 10/13/2009 CO PH Read 2nd & Rereferred; F, PHS

 

 

BILL SUMMARY     FACT SHEET

 

DEFER

 

 

 

 

 

 

 

 

8.  2009-868

ORD-MC Repealing Chapt 118 (Public Svc Grant Approp), Ord Code, & Creating a New Chapt 118 (City Grants). (Sidman) (C/M Hyde)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 11/10/09, 11/24/09

 

1. 10/27/2009 CO  Introduced: R,F,PHS

 

    11/2/2009 PHS Read 2nd & Rerefer;    11/2/2009 F Read 2nd & Rerefer;    11/2/2009 R Read 2nd & Rerefer

 

2. 11/10/2009 CO PH Contd 11/24/09/ Read 2nd & Rereferred; R, F, PHS

 

3. 11/24/2009 CO PH Only

 

 

BILL SUMMARY     R: sub/approve

 

SUB(R)/APPROVE 6-1 (Yarborough)

 

 

 

 

 

 

 

 

9.  2009-877

ORD Approp $210,000 ($168,000 Homeland Security & FEMA Grant - Assist to Firefighters - Fire Prevention & Safety, $42,000 Rsv for Fed Progs) to Purchase Communications Equipmt for Duval, Baker, Clay, Nassau & St Johns Counties. (BT 10-026) (McCain) (Req of Mayor)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 11/24/09

 

1. 11/10/2009 CO  Introduced: F,PHS

 

    11/16/2009 PHS Read 2nd & Rerefer;    11/16/2009 F Read 2nd & Rerefer

 

2. 11/24/2009 CO PH Read 2nd & Rereferred; F, PHS

 

 

BILL SUMMARY     FACT SHEET

 

DEFER

 

 

 

 

 

 

 

 

 

 

 

 

10.  2009-882

ORD re Eminent Domain to Parcel 122, 11,000 Sq Ft, $25,000 Appraisal; Parcel 123-A, 5,500 Sq Ft, $14,650 Appraisal; Parcel 123-B, 5,500 Sq Ft, $14,650 Appraisal, as Required for Lincoln Villas Storm Water Improvemts Phase II Proj. (Dist 8-Lee) (McCain) (Req of Mayor)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 11/24/09

 

1. 11/10/2009 CO  Introduced: F,TEU

 

    11/16/2009 F Read 2nd & Rerefer

 

    11/17/2009 TEU Read 2nd & Rerefer

 

2. 11/24/2009 CO PH Read 2nd & Rereferred; F, TEU

 

 

BILL SUMMARY     FACT SHEET

 

APPROVE 7-0

 

 

 

 

 

 

 

 

11.  2009-896

ORD Approp $5,000 from Environmental Protection Fund to help pay for Students & Members of Public to Attend the 2009 Fla Coastal School of Law/Jax University Environmental Summit; Waive Conflicting Provisions of Sec 111.755 (Environmental Protection Fund) & 360.602 (Uses of Fund). (BT 10-031) (McCain) (Req of Mayor)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 12/08/09

 

1. 11/24/2009 CO  Introduced: R,F,TEU

 

    11/30/2009 F Read 2nd & Rerefer;    11/30/2009 R Read 2nd & Rerefer

 

    12/1/2009 TEU Read 2nd & Rerefer

 

2. 12/8/2009 CO PH Read 2nd & Rereferred; R, F, TEU

 

 

BILL SUMMARY     FACT SHEET     R: approve

 

APPROVE 7-0

 

 

 

 

 

 

 

 

12.  2009-897

ORD Approp $203,297.47 from Var Fire Station Capital Improvemt Projs to Purchase & Renovate Volunteer-Owned F.S. #27, Complete Constrn of New F.S. #28 & Complete Renovation of F.S. #31; Auth Funds Carryover to FY 2010-2011; Amend Ord 2009-513-E (CIP) to Auth Funding Changes. (BT 10-032) (McCain) (Req of Mayor)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 12/08/09

 

1. 11/24/2009 CO  Introduced: F,PHS

 

    11/30/2009 PHS Read 2nd & Rerefer;    11/30/2009 F Read 2nd & Rerefer

 

2. 12/8/2009 CO PH Read 2nd & Rereferred; F, PHS

 

 

BILL SUMMARY    FACT SHEET

 

AMEND/APPROVE 7-0

 

Attach revised CIP forms

 

 

 

 

 

 

 

13.  2009-898

ORD Approp $100,000 from Rec & Community Svcs Capital Projs to fund Couples for Christ, Inc for Constrn of Capital Improvemts to Sunny Acres Community Ctr at 2850 Wompi Dr; Auth Funds Carryover to FY 2010-2011; Auth License Agreemt to Operate the Center to Provide Educational Programming & Rec Activities to the Neighborhood Community & Maintain Access to the Ctr by the Gen Public; Term of 10 Yrs & 3 Options of 5 Yrs at $1/Yr; Amend Ord 2009-513-E (CIP) to Auth Fund Reallocation; Designate Oversight by Rec & Community Svcs Dept. (BT 10-033) (McCain) (Req of Mayor)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 12/08/09

 

1. 11/24/2009 CO  Introduced: F,RCD

 

    11/30/2009 F Read 2nd & Rerefer

 

    12/1/2009 RCD Read 2nd & Rerefer

 

2. 12/8/2009 CO PH Read 2nd & Rereferred; F, RCD

 

 

BILL SUMMARY     FACT SHEET

 

APPROVE 7-0

 

 

 

 

 

 

 

 

14.  2009-899

ORD Approp $153,604.66 from Tree Protection & Related Expenses Trust Fund to fund the 103rd St Townctr Landscaping Proj; Auth Funds Carryover to FY 2010-2011; Amend Ord 2009-513-E (CIP) to auth the Change; Waive Sec 111.760, Ord Code, to Allow Planting on FDOT Propty. (BT 10-034) (McCain) (Req of Mayor)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 12/08/09

 

1. 11/24/2009 CO  Introduced: R,F,TEU

 

    11/30/2009 F Read 2nd & Rerefer;    11/30/2009 R Read 2nd & Rerefer

 

    12/1/2009 TEU Read 2nd & Rerefer

 

2. 12/8/2009 CO PH Read 2nd & Rereferred; R, F, TEU

 

 

BILL SUMMARY     FACT SHEET     R: amend/approve

 

AMEND(R)/APPROVE 7-0

 

 

 

 

 

15.  2009-900

ORD Auth a 2nd Amend to Redev Agreemt with Belet's Millwork, Inc to Extend the Loan Maturity Date to 9/1/11 & Provide for New Monthly Loan Pymts of $1,115. (McCain) (Req of Mayor)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 12/08/09

 

1. 11/24/2009 CO  Introduced: F,RCD

 

    11/30/2009 F Read 2nd & Rerefer

 

    12/1/2009 RCD Read 2nd & Rerefer

 

2. 12/8/2009 CO PH Read 2nd & Rereferred; F, RCD

 

 

BILL SUMMARY

 

DEFER

 

The committee engaged in considerable discussion of the terms of the loan, the need for the loan restructuring, and the prospects for the company’s ability to complete the loan terms successfully in 2011.  The committee asked James Richardson of the Housing and Neighborhoods Department to negotiate further with the business owner on alternative terms.

 

 

 

 

 

 

16.  2009-902

ORD Accepting a Part of Parcel No. 165 at Intersec of 103rd St & Ricker Rd from FDOT, at No Cost. (Dist 10-Brown) (McCain) (Req of Mayor)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 12/08/09

 

1. 11/24/2009 CO  Introduced: F,TEU

 

    11/30/2009 F Read 2nd & Rerefer

 

    12/1/2009 TEU Read 2nd & Rerefer

 

2. 12/8/2009 CO PH Read 2nd & Rereferred; F, TEU

 

 

BILL SUMMARY     FACT SHEET

 

APPROVE 8-0

 

 

 

 

 

 

 

 

17.  2009-903

ORD Declaring Surplus Parcels 199.1 A, B, C & D at Intersec of 103rd St & Ricker Rd; Auth Conveyance of Fee Simple Title to FDOT for use in State Rd Syst; Waive Provisions of Sec 122.423 (Appraisal at or Below $25,000), Ord Code, to allow Conveyance at No Cost. (Dist 10 & 12 - Brown & Davis) (McCain) (Req of Mayor)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 12/08/09

 

1. 11/24/2009 CO  Introduced: R,F,TEU

 

    11/30/2009 F Read 2nd & Rerefer;    11/30/2009 R Read 2nd & Rerefer

 

    12/1/2009 TEU Read 2nd & Rerefer

 

2. 12/8/2009 CO PH Read 2nd & Rereferred; R, F, TEU

 

 

BILL SUMMARY     R: amend/approve

 

AMEND(R)/APPROVE 8-0

 

 

 

 

 

 

 

 

18.  2009-908

ORD Apv Issuance of Industrial Dev Rev Bonds (North Florida Shipyards Proj) by JEDC of $4,000,000 to fund Capital Proj comprising an "Industrial Plant" & a "Commercial Proj in an Enterprise Zone" to be Owned/Operated by North Florida Shipyards, Inc; Auth Allocation of $4,000,000 for Proj from a Portion of City's Suballocation of the Natl Volume Cap for "Recovery Zone Facility Bonds;." Waiving Sec 104.306(b)(3) (Application Review of Chapt 104 (Bonds), Ord Code. (Rowland) (Req of JEDC)

Public Hearing Pursuant to Sec 147(f), Internal Rev Code by JEDC -

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 12/08/09

 

1. 11/24/2009 CO  Introduced: R,F,RCD

 

    11/30/2009 F Read 2nd & Rerefer;    11/30/2009 R Read 2nd & Rerefer

 

    12/1/2009 RCD Read 2nd & Rerefer

 

2. 12/8/2009 CO PH Read 2nd & Rereferred; R, F, RCD

 

 

BILL SUMMARY    R: amend/approve

 

AMEND(R)/APPROVE 7-1 (Yarborough)

 

 

 

 

 

 

 

 

19.  2009-925

ORD-MC Amend Chapt 342 (Constrn Trades Regs), Sec 342.108 (Persons Without Certificates Representing Themselves as Contractors), Ord Code, to Impose a Fine against a Person who does not Possess a current Required Contractor Certificate and Claims to have one or Claims to have Required Insurance; Increase Fine Imposed of those found Guilty of a Violation of Sec 342.108(a), or any Provisions of Secs 489.127(1) - (5), 489.132(1), or 489.531, F.S. (McCain) (Req of Mayor)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 1/12/10

 

1. 12/8/2009 CO  Introduced: R,F

 

 

BILL SUMMARY    R: read 2nd & rerefer

 

READ 2ND & REREFER

 

 

 

 

 

 

 

 

20.  2009-926

ORD-MC Amend Sec 804.1204 (Towing, Other Svcs & Storage Charges; Notice by the Sheriff), Ord Code, to Auth Wrecker Firms to Charge Vehicle Owners the Administrative Per Vehicle Flat Fee Charged to the Wrecker Firms in Sec 804.1202(a). (Rohan) (C/M Holt)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 1/12/10

 

1. 12/8/2009 CO  Introduced: R,F,TEU

 

 

BILL SUMMARY     R: read 2nd & rerefer

 

READ 2ND & REREFER

 

 

 

 

21.  2009-927

ORD Approp $700,000 Florida State Courts Drug Court Continuation Grant for Expansion of Adult Post-Adjudicatory Drug Courts for Non-Violent Felony Offenders who would Otherwise be Incarcerated; Auth Funds Carryover to FY 2010-2011; Request Emerg Apv. (BT 10-040) (McCain) (Req of Mayor)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 1/12/10

 

1. 12/8/2009 CO  Introduced: R,F,PHS

 

 

BILL SUMMARY     R: emergency/amend/approve

 

READ 2ND & REREFER

 

 

 

 

22.  2009-928

ORD Approp $134,330 ($101,000 Fla Ofc of Tourism, Trade & Economic Dev & Local Match of $33,330 In-Kind Contribution of Staff Svcs by Chief of Military Affairs & AMIO) for Pymt of Certain Military Affairs Consulting & Advocacy Svcs by City Selected Consultants; Auth Funds Carryover to FY 2010-2011; Auth a Defense Reinvestmt Grant Agreemt. (BT 10-042) (McCain) (Req of Mayor)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 1/12/10

 

1. 12/8/2009 CO  Introduced: F,RCD

 

 

BILL SUMMARY     FACT SHEET

 

 

READ 2ND & REREFER

 

 

 

 

23.  2009-929

ORD Approp $431,250 from Tree Protection & Related Expenses Trust Fund ($37,500 for Landscaping Design & $393,750 for Tree Planting & Related Expenses) for Hendricks Ave Medians Planting Proj from Univ Blvd to Old San Jose Blvd; Reversion of Unspent Funds; Amend Ord 2009-513-E (CIP) to Auth said Proj; Waive Provisions of Sec 111.760 (Tree Protection & Related Expenses Trust Fund) for Placemt of Trees on City-Owned Premises & R/W to allow Placemt on State Rights-of-Way; R-A-M Professional Group, Inc., to Perform the Design Svcs. (Sidman) (C/M Shad)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 1/12/10

 

1. 12/8/2009 CO  Introduced: R,F,TEU

 

 

BILL SUMMARY    R: read 2nd & rerefer

 

READ 2ND & REREFER

 

 

 

 

24.  2009-933

ORD Auth a Memo of Agreemt with FDOT allowing FDOT to Undertake the Alta Dr - Zoo Parkway to SR 9A Improvemt Proj. (McCain) (Req of Mayor)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 1/12/10

 

1. 12/8/2009 CO  Introduced: F,TEU

 

 

BILL SUMMARY    FACT SHEET

 

READ 2ND & REREFER

 

 

 

 

25.  2009-937

ORD Auth Purchase of a Portion of RE# 005099-0000 at $425,000 + Closing Costs from N.G. Wade Investment Co for Constrn of Fire Station #26. (Dist 10-Brown) (McCain) (Req of Mayor)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 1/12/10

 

1. 12/8/2009 CO  Introduced: F,PHS

 

 

BILL SUMMARY     FACT SHEET

 

READ 2ND & REREFER

 

 

 

26.  2009-938

ORD Auth an Instructor Agreemt with Karen Roumillat for Yoga Classes at Burnett Park Community Ctr; Designating Standard Instructor Agreemts for Courses of Instruction at City Community Ctrs & Auth Future Use of Standard Agreemts with no Further Action by City Council. (McCain) (Req of Mayor)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 1/12/10

 

1. 12/8/2009 CO  Introduced: F,RCD

 

 

BILL SUMMARY     FACT SHEET

 

READ 2ND & REREFER

 

 

 

 

27.  2009-939

ORD Approp $993,000 from NW Jax Economic Dev Trust Fund ($595,800 Loan & $397,200 Grant) to the Northwest Jacksonville Community Development Corp for Constrn of a 15,000 Sq Ft Mixed Use Ofc/Retail Facility; Auth Funds Carryover to FY 2010-2011; Auth Redev Agreemt with said Corp. (Dist 8 - Lee) (BT 10-041) (McCain) (Req of Mayor)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 1/12/10

 

1. 12/8/2009 CO  Introduced: F,RCD

 

 

BILL SUMMARY

 

READ 2ND & REREFER

 

28.  2009-940

ORD Granting an Exemption for Gerdau Ameristeel from Pymt of the Public Svc Tax for 5-Yr Period. (Rohan) (C/M Holt)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 1/12/10

 

1. 12/8/2009 CO  Introduced: R,F,RCD

 

 

BILL SUMMARY    R: read 2nd & rerefer

 

READ 2ND & REREFER

 

 

 

29.  2009-941

ORD Apv Settlemt Amt of $145,000 for Statutory Costs Resulting from Condemnation of Parcels 104 & 702 (Dunn Corner, LLC - Owner) for the Harts Rd Proj, City of Jacksonville v. Compass Bank, et al, Case # 16-2006-003032. (Sidman) (Ofc of Gen Counsel)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 1/12/10

 

1. 12/8/2009 CO  Introduced: F

 

 

BILL SUMMARY     FACT SHEET

 

READ 2ND & REREFER

 

 

 

 

30.  2009-946

ORD Amend, in Part, Ords 2000-1032-E, 2001-1294-E, 2003-1553-E & 2006-1440-E re Blue Cypress Park Golf Course Lease Agreemt with Comstock Golf Mgmt, Inc; Apv Amended & Restated Golf Course Lease & Mgmt Agreemt. (Rohan) (C/M Yarborough)

Public Hearing Pursuant to Chapt 166, F.S. & CR 3.601 - 1/12/10

 

1. 12/8/2009 CO  Introduced: F,RCD

 

 

BILL SUMMARY

 

READ 2ND & REREFER

 

 

 

31.  2009-948

RESO of Support for Legislation in Fla Legislature's Next Session to Amend Chapt 112, F.S., to Increase Investmt Opportunities for Trustees of City of Jax Police & Fire Pension Fund. (Keane) (Comm of City Pension Sustainability)

 

1. 12/8/2009 CO  Introduced: R,F

 

                                                                                R: read 2nd & rerefer

 

                                   READ 2ND & REREFER

 

At the conclusion of the regular agenda, Chief Financial Officer Mickey Miller presented the quarterly investment report on the City’s operating portfolio for the fourth quarter of FY08-09 (August – September 2009).  He noted that the stock markets had recovered substantially from the market trough in March 2009, with the City’s portfolio gaining 11.47% for the fiscal year.  The City’s returns for the year were helped by the fact that property tax revenues received in the period November 2008 through January 2009 were invested near the bottom of the market and helped to grow the portfolio as the market recovered through the spring and summer.

 

 

Meeting Adjourned:  2:37 p.m.

 

Minutes:  Jeff Clements, Council Research

                 1.5.10

Tapes:      Finance agenda meeting– LSD

                 1.4.10

Materials:   Finance agenda

     1.4.10