[00:00:08]
EVERYBODY. IT IS 830. WE'LL GO AHEAD AND GET OUR LAST FISCAL COMMITTEE MEETING OF THE YEAR UNDERWAY HERE. A LITTLE BIT OF A LIGHTER AGENDA. JUST SEVEN ITEMS IN FRONT OF US THIS
[1. Resolution approving a $680,000 financing agreement with Fans of Valley Field for Sullivan Field improvements]
MORNING. STARTING WITH NUMBER ONE, WE'VE GOT A RESOLUTION APPROVING A 680,000 FINANCING AGREEMENT WITH FANS OF VALLEY FIELD FOR SULLIVAN FIELD IMPROVEMENTS. SO MOVED AND SUPPORTED. GOOD MORNING, LAURA CLAYPOOL WITH THE PARKS DEPARTMENT. IT'S MY FAVORITE MEETING OF THE YEAR BECAUSE I LOVE JOEL'S JACKET SO MUCH. SO WHAT YOU HAVE IN FRONT OF YOU IS A RESOLUTION BETWEEN THE CITY OF GRAND RAPIDS. IT'S A FINANCING AGREEMENT WITH FANS OF VALLEY FIELD. SO THERE WAS A GRANT THAT WAS GIVEN TO THE RIGHT PLACE BY MEDC, AND THEN THEY GRANTED TO FANS OF VALLEY FIELD. AND BECAUSE WE OWN THAT SPACE, WE NEED TO ENTER INTO A FINANCING AGREEMENT SO THAT WE CAN OPERATE THAT PROJECT AND AND USE THOSE FUNDS TOWARDS THE INVESTMENT AT SULLIVAN FIELD. AWESOME. THANK YOU. ANY QUESTIONS? NO, I'LL JUST ADD I'M EXCITED TO SEE THIS PROJECT CONTINUE TO MOVE FORWARD. I'LL GIVE A SUBTLE PLUG. I KNOW THEY'RE JUST ALMOST CROSSING THE FINISH LINE WITH THEIR FUNDRAISING GOAL ON THE PRIVATE SIDE. SO YOU CAN STILL BUY A BRICK FOR THE WALL OR ON THE GROUND IF YOU HAVEN'T ALREADY.SO I'LL JUST MAKE THAT MAKE THAT NOTE. SO WITH THAT, I'LL CALL THE QUESTION. ALL THOSE IN
[2. Resolution accepting a $25,000 grant award from the Outdoor Foundation for GR Outside]
FAVOR SAY I, I, I'M AN I. THE MOTION CARRIES ITEM NUMBER TWO. WE HAVE A RESOLUTION ACCEPTING $25,000 GRANT AWARD FROM THE OUTDOOR FOUNDATION FOR GR OUTSIDE. SO MOVED AND SUPPORTED.GOOD MORNING AGAIN. SO THIS RESOLUTION IS FOR $25,000 GRANT FROM THE OUTDOOR FOUNDATION. IT IS TO CONTINUE OUR WORK WITH GR OUTSIDE. IT STARTED AS AN ORIGINAL GRANT IN 2018 FOR THRIVE OUTSIDE AND DURING THIS TIME, OUTSIDE HAS PROVIDED YEAR ROUND RECREATION OPPORTUNITIES FOR OVER 30,000 YOUTH AND ADULTS IN OUR SYSTEM, AND JUST DEMONSTRATING HOW IMPORTANT THAT OUTDOOR NATURE BASED PLAY IS FOR HEALTHY DEVELOPMENT OF OUR COMMUNITY. YES. THAT'S GREAT. THANK YOU. QUESTIONS? DISCUSSION. WELL, OF COURSE, YOU KNOW, I'M VERY HAPPY TO SEE BOTH ITEMS TWO AND THREE, ALL OF THEM BEFORE US. BUT GETTING OUT OUTSIDE AND HELPING OUR NEIGHBORS FEEL CONNECTED TO NATURE. AND, YOU KNOW, WE BUILD UP THE CITY. BUT IT'S ALSO REALLY IMPORTANT TO INVEST IN OTHER NATURAL RESOURCES THAT WE HAVE, ESPECIALLY, AS YOU SAID YEAR ROUND, IT'S STILL GREAT TO GO SNOWSHOEING, GET SOME FRESH AIR, ESPECIALLY DURING THE HOLIDAYS WHERE WE KNOW FOLKS ARE STRESSED OR WORRIED. SO VERY HAPPY TO SUPPORT THESE AND HOPE THAT WE CAN INVEST EVEN MORE GOING FORWARD. YES, ABSOLUTELY. ALL RIGHT. WELL, IN THAT CASE, I'LL CALL THE QUESTION. ALL THOSE IN FAVOR SAY AYE. AYE, I'M AND I THE
[3. Resolution approving a $90,000 agreement with Friends of Grand Rapids Parks]
MOTION CARRIES. ITEM NUMBER THREE, WE'VE GOT A RESOLUTION APPROVING A $90,000 AGREEMENT WITH FRIENDS OF GRAND RAPIDS PARKS. OKAY. SO THIS. I'LL MOVE. OH! OH SUPPORT. THANK YOU.SORRY. GO AHEAD. THE CITY OF GRAND RAPIDS IS WANTING TO ENTER INTO A RENEWED AGREEMENT WITH FRIENDS OF GRAND RAPIDS PARKS. THAT JUST PUTS AN EXCLAMATION POINT BEHIND A VERY STRONG, LONG STANDING RELATIONSHIP BETWEEN OUR DEPARTMENT AND THAT ORGANIZATION. THE PARTNERSHIP IS DEDICATED TO ENHANCING PARKS, URBAN FORESTRY AND NATURAL AREAS. AND SO THE CITY WILL PROVIDE $90,000 ANNUALLY TO SUPPORT ALL OF THEIR VOLUNTEER COORDINATION, SOME TREE PLANTING CARE AND INVASIVE SPECIES MANAGEMENT. FRIENDS OF PARKS WILL CONTINUE TO LEVERAGE THEIR POSITION AS A NONPROFIT TO HELP FUNDRAISE FOR FOR PROJECTS AND PROGRAMS THROUGHOUT THE PARK SYSTEM, AND THIS COLLABORATION JUST CONTINUES TO UNDERSCORE THE CITY'S SUSTAINABILITY AND EQUITY GOAL. SO WE'RE HAPPY TO CONTINUE THIS. THANKS. POSITIVE. ANYTHING TO ADD ON THAT ONE, COMMISSIONER? GOOD. ALL RIGHT.
ALL THOSE IN FAVOR SAY AYE. AYE I'M AN EYE. THE MOTION CARRIES ITEM NUMBER FOUR. WE'VE GOT A
[4. Resolution authorizing a Budget Substitution in the amount of $50,000 for Bond Issuance Costs related to the Drinking Water State Revolving Fund]
RESOLUTION AUTHORIZING A BUDGET SUBSTITUTION IN THE AMOUNT OF $50,000 FOR BOND ISSUANCE COSTS RELATED TO THE DRINKING WATER STATE REVOLVING FUND. SO MOVED. I'LL SUPPORT. GOOD MORNING.WELCOME. GOOD MORNING. COMMISSIONERS. TO HELP. IT'S TO HELP THE WATER SYSTEM MEET ITS CAPITAL DEMANDS. EVERY YEAR. THEY TYPICALLY APPLY FOR STATE REVOLVING FUNDS TO HELP FUND THOSE PROJECTS. IF AWARDED, WE TYPICALLY RECEIVE A LOW INTEREST LOAN SOMEWHERE AROUND 2 TO 3%, TYPICALLY WITH SOME FORM OF PRINCIPAL FORGIVENESS INCLUDED. MOST RECENTLY, THIS PAST SUMMER, WE WERE AWARDED UP CLOSE TO $18 MILLION IN THOSE FUNDS. ISSUING THOSE BONDS DO COME WITH COSTS OF ISSUANCE, YOU KNOW, LEGAL FEES, BANKING FEES, CREDIT RATING, AGENCY FEES. THIS WOULD ALLOCATE FUNDS TO HELP COVER THOSE COSTS OF ISSUANCE. THIS WILL NOT HAVE ANY IMPACT ON FUND BALANCE BECAUSE THIS IS JUST REALLOCATING EXCESS DOLLARS FROM OTHER FINAL CAPITAL PROJECTS. GOT IT. THANK YOU. ANY QUESTIONS ON THAT ONE? ALL
[00:05:06]
RIGHT. I DON'T HAVE ANY EITHER. SO ALL IN FAVOR SAY AYE. AYE AYE. THE MOTION CARRIES. THAT[5. Bid List Resolution for December 16, 2025]
BRINGS US TO ITEM NUMBER FIVE. WE'VE GOT OUR BID LIST RESOLUTION FOR DECEMBER 16TH, 2025. SO MOVED AND SUPPORTED I'LL TURN TO MISS CLAIRE. GOOD MORNING COMMISSIONERS. WE JUST HAVE THREE ITEMS THIS MORNING. FAIRLY ROUTINE. IF THERE ARE ANY QUESTIONS, MYSELF OR THE DEPARTMENTS ARE HERE TO ANSWER THEM. OKAY. I DON'T HAVE ANY THANK YOU QUESTIONS. YEAH THAT'S ON PAGE 11. I BELIEVE IN THE AGENDA PACKET TOO IN CASE PEOPLE WANT TO READ THROUGH THOSE. SO HEARING NO OTHER QUESTIONS. ALL THOSE IN FAVOR SAY I, I I'M ALSO AN EYE THE[6. Comptroller's Warrant Report for the period of November 18, 2025 through December 01, 2025 in the amount of $47,280,078.67 and Monthly Travel Report]
MOTION WILL CARRY. THAT BRINGS US TO ITEM NUMBER SIX. WE'VE GOT OUR CONTROLLERS WARRANT REPORT FOR THE PERIOD OF NOVEMBER 18TH, 2025 THROUGH DECEMBER 1ST, 2025, IN THE AMOUNT OF $47,280,078.67 AND OUR MONTHLY TRAVEL REPORT. SO I'LL TURN OVER TO OUR CITY CONTROLLER. WELCOME BACK. GOOD MORNING COMMISSIONERS. SO TWO REPORTS HERE THIS MORNING FOR OUR WARRANT REPORT. CASH PAYMENTS WERE RELEASED TOTALING APPROXIMATELY $47.2 MILLION.THAT AMOUNT INCLUDES $5.7 MILLION FOR OUR EMPLOYEE PAYROLL EXPENSE AND JUST OVER $184,000 FOR INCOME TAX WARRANTS. IN TERMS OF QUANTITY, 490 INCOME TAX REFUNDS WERE ISSUED AND 1113 CHECKS AND ELECTRONIC PAYMENTS WERE ISSUED. AS STATED IN THE MEMO, THESE FUNDS WERE ISSUED FOR PAYMENT NOT BY INDIVIDUALS IN THE CITY CONTROLLER'S OFFICE AND NOT IN ACCORDANCE WITH THE TERMS OF THE CITY CHARTER. OUR SECOND REPORT THAT WE HAVE HERE FOR YOU THIS MORNING IS THE OCTOBER FISCAL YEAR TO DATE TRAVEL REPORT, AND THAT REPORT IS SHOWING THAT WE SPENT ABOUT $850,000, OR 37%, OF A $2.2 MILLION ANNUAL BUDGET. AND THOSE ARE BOTH OF THE REPORTS THAT I HAVE FOR YOU THIS MORNING. AWESOME. THANKS. WE'LL
[7. Treasurer’s Report for Period of November 19, 2025, through December 2, 2025]
GO AHEAD AND RECEIVE AND FILE THOSE, AND THEN THAT'LL BRING US TO OUR LAST ITEM, WHICH IS OUR TREASURER'S REPORT FOR THE PERIOD OF NOVEMBER 19TH, 2025 THROUGH DECEMBER 2ND, 2025. AND I'LL TURN TO MR. CITY TREASURER. GOOD MORNING, COMMISSIONERS. GOOD MORNING WITH OUR REPORT TODAY. SOME THINGS HAVE HAPPENED. WE DID HAVE ANOTHER 25 BASIS POINT RATE DECREASE.BUT AS WE'VE LOOKED AT THE DIFFERENT COMPONENTS TO THAT OR THE VOTING MEMBERS, THERE'S STILL A LOT OF. UNCERTAINTY WITH THEIR DIRECTION. SOME WANT TO SEE MORE CUTS, SOME DON'T.
SOME EVEN ARE SAYING WE NEED TO PAUSE FOR A LONG PERIOD OF TIME UNTIL THE DATA SHOWS ITSELF.
TODAY WE ARE GOING TO GET THE JOBS REPORTS FOR NOVEMBER, SO WE'RE GOING TO START SEEING MORE INFORMATION ON JOBS AND WHERE WE ARE. THE EXPECTATION IS THAT INFLATION OR THE UNEMPLOYMENT RATE WILL GO UP TO 4.5% IS THE EXPECTATION FROM 4.4. SO JUST A SLIGHT INCREASE.
AND ACTUALLY THE BIGGER NUMBER TODAY IS OR THIS WEEK IS GOING TO BE THURSDAY WHEN THE CONSUMER PRICE INDEX COMES OUT. SO WE'RE GOING TO START SEEING SOME OF THOSE. THAT INFORMATION THAT WE'VE BEEN LACKING. AGAIN LIKE THEY SAID, THEY'RE NOT GOING TO GO BACK AND PUBLISH PRIOR MONTH'S REPORTS. THEY'RE JUST MOVING FORWARD. SO THIS IS THIS COULD BE A PRETTY INTERESTING NUMBER THAT COMES OUT. AND WE'LL SEE WHAT IT DOES IN TERMS OF THE MARKETS AND AND PEOPLE'S EXPECTATIONS REALLY. OTHER THAN THAT, LOOKING AT OUR OUR PORTFOLIO HOLDINGS, WE'RE AT 716 MILLION EARNING 3.4%. JUST TO POINT OUT ONE ITEM, THE CAPITAL IMPROVEMENT BONDS 2024 FOR SCRIBNER. THAT'S AT 4.3 MILLION, ALMOST 4.4 MILLION. WE'VE NOW SURPASSED THE TWO YEAR DRAWDOWN SCHEDULE ON THAT. AND SO EVEN THOUGH THE RATES ARE FIVE AND A QUARTER THE DAY AFTER THIS REPORT PUBLISHED, THAT RATE DROPPED TO 2.75%. SO WHEN WE GO OUT AND BID THESE, WE TRY TO GET THE BEST POSSIBLE RATE WE CAN FOR THAT DRAWDOWN SCHEDULE. BUT IF WE GO BEYOND THAT, THEN IT'S GOING TO GO BACK TO MORE OF A MARKET RATE OF WHAT THE BANKS ARE GOING TO OFFER AT THAT POINT IN TIME. THIS IS WHAT KIND OF PUSHES OUR, OUR, OUR DEPARTMENTS TO SAY, LOOK, YOU NEED TO SPEND THIS MONEY TOWARD TO YOUR DRAWDOWN SCHEDULE SO THAT WE DON'T RUN INTO ANY ISSUES LIKE THIS. I MEAN, RIGHT NOW, 2.75% IS PROBABLY WHAT WE ISSUED THE BONDS FOR 2.753%. SO IT'S KIND OF A WASH, BUT IT'D BE NICE TO GET RID OF THAT MONEY BECAUSE I KNOW THAT THE PROJECT STILL HAS BILLS COMING THROUGH. SO THAT'S OUR REPORT FOR THIS WEEK.
AWESOME. THANKS. JUST TO CLARIFY, SO THURSDAY THE INFLATION DATA IS IS GOING TO BE AGGREGATED FOR THE PAST SEVERAL MONTHS. IT'S JUST GOING TO BE THE PREVIOUS THEY'RE NOT GOING BACK. IT'S JUST IT'S JUST THE NUMBERS THEY HAVE FOR THE CURRENT PERIOD OKAY OKAY.
THAT'S GOOD TO KNOW. AND THEN I'VE HEARD SOME INFORMATION ABOUT WAGE GROWTH TOO. IS THERE ANYTHING YOU KNOW OR CAN SHARE ABOUT THAT. IT SEEMS I'VE HEARD WAGE GROWTH IS IS UP EVEN WITH INFLATION KIND OF STICKING HIGHER THAN THAN EXPECTED. I THINK THE WAGE GROWTH IT IT DEPENDS. YOU'RE GOING TO SEE POCKETS OF AREAS. IT'S GOING TO GO UP. FORTUNATELY FOR US WE ALL HAVE OUR UNION CONTRACTS THAT HAVE ALL BEEN SETTLED. SO WE ALREADY KNOW THE GUIDE PATH
[00:10:02]
FOR US IS WE'RE GOING TO SEE WHAT 4% FOR THE NEXT TWO YEARS, NEXT TWO CONTRACT PERIODS. SO WE'RE OBVIOUSLY GOING TO SEE THE WAGE GROWTH CONTINUE. BUT THE QUESTION IS, IS WHETHER OR NOT IT'S GOING TO KEEP UP WITH WHERE THE INFLATION IS. SO OBVIOUSLY PRICES ARE GOING TO, YOU KNOW, TARIFFS AND EVERYTHING ELSE. PRICES ARE STILL GOING TO GO HIGHER. THE QUESTION BECOMES IS IT GOING TO STILL MATCH WHAT WE CURRENTLY ARE GETTING IN OUR TAKE HOME PAYCHECKS. YEP YEP. EXACTLY. SO AND I, I THOUGHT I HAD HEARD THAT THE WAGE GROWTH CURRENTLY AT LEAST WAS OUTPACING INFLATION. BUT AGAIN, IT'S JUST A I DON'T KNOW I THINK YEAH MY FINANCIAL REPORT REFLECTED THAT OKAY. SO SO WE WERE TALKING GIVEN MY DATA WAS FROM YOU KNOW, BECAUSE I GOT SO DELAYED. IT WAS LIKE OVER A MONTH OLD AT THAT POINT. BUT SO SO IT WAS IT WAS KIND OF AN INTERESTING DYNAMIC WHERE WE WERE STILL SEEING, YOU KNOW, CONSUMER DEMAND OUT THERE AND THINGS LIKE THAT BECAUSE OF, YOU KNOW, THAT DYNAMIC. BUT LIKE JOHN'S SAYING THERE'S A LOT OF CROSS CURRENTS GOING ON. YEAH FOR SURE. YEAH. YEP. YEAH.DEFINITELY. JUST GOES TO SHOW THERE'S SOME BRIGHT SPOTS SOME SCARY SPOTS A LITTLE BIT. SO WE'LL JUST CONTINUE TO WAIT AND WATCH. BUT COMMISSIONER DO YOU HAVE ANY QUESTIONS OR THOUGHTS.
ALL RIGHT. SOUNDS GOOD. WE'LL GO AHEAD AND RECEIVE AND FILE THAT THEN. AND THAT
* This transcript was compiled from uncorrected Closed Captioning.