Finance Committee Meeting 08/07/2024 – Will Vote To Authorize Issuance Of $13.5 Million In General Obligation Promissory Notes And $12.9 Million In Sewerage System Revenue Bonds, Will Also Vote To Authorize Emergency Repairs To Green Parking Ramp

The Finance Committee is holding a special meeting on 08/07/2024 at 6:30PM prior to the regular Common Council meeting at 7PM.

The main purpose of the meeting is to vote on a request to authorize the sale of $13.5 million in General Obligation Promissory Notes and $12.9 million in Sewerage System Revenue Bonds. This was presented at the 07/22/2024 Finance Committee meeting with estimated rates for the bonds, and now at the 08/07/2024 meeting the final rates will be presented before the committee and then the Council after them approves moving forward with the sale.

The committee also has a couple of other items on the agenda both related to the Green Parking Ramp.

The first is a resolution authorizing the city to perform emergency repairs and reconstruction on the city’s Green Parking Ramp downtown and the second is a memo asking for approval of a single source contract for $47,230 with Restoration Systems, Inc to complete Phase 1 of the emergency repairs.

This is in response to a vehicle recently striking and severely damaging a sixth-floor concrete barrier panel. Per the memo, “The Phase 1 work involves the installation of a temporary engineered shoring system extending from level 6 down to ground level. This shoring system will be designed to hold the damaged panel, aid in removal of the panel, and provide a working surface for the replacement of the panel.”

Staff would like to sole source the contract to Restoration Systems because they already have another contract to provide scheduled maintenance and repairs to the city’s three downtown parking ramps and have performed excellent work.

View full meeting details here: https://cityofappleton.legistar.com/MeetingDetail.aspx?ID=1214175&GUID=4B33839A-6969-4A57-BAC3-9E58A294C63B