Finance/Personnel Committee approves staffing over-hires, redevelopment and TID actions, assessor contract, and budget carryforwards

Minutes | attachments=1 | reports=1

Comments made during the public comment period shall pertain only to matters under the jurisdiction of the Finance/Personnel Committee. §6-3(f) DPMC

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Please see the attached memo requesting Authorization for Over Hire | attachments=1 | reports=1

Consideration and possible action to over hire one firefighter position. | attachments=1 | reports=1

Consideration and Possible Action Redevelopment Agreement Terms with TPAMMT LLC for the Redevelopment of 303 Reid St. into a Multi-Tenant Commercial Development (Parcel WD-955).* | attachments=1 | reports=1

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TID #8 closed on July 15, 2025, with the tax increment from the 2025 tax roll going to the affordable housing fund. A final audit was recently completed on the TID with the following calculated refunds to overlying taxing districts: The other taxing jurisdictions will be paid their portion soon. The final calculation leaves the City with $433,110 remaining from the TID. I would recommend the balance from this closure be transferred to Fund 415 to offset 2027 or future capital project costs in lieu of borrowing. This is a similar request to the one made last year with the closure of TID #6. Those funds were utilized as part of the 2026 Budget process for the Capital Projects Fund. Please feel free to contact me prior to the meeting with any questions. | attachments=1 | reports=1

Last year, the City issued a Request for Proposals (RFP) for assessment services receiving two responses (Forward Appraisal LLC & Accurate Appraisal LLC). On August 19, 2025, Council voted to approve a one-year contract extension to Accurate Appraisal LLC for maintenance and full market revaluation services. As discussed, and per Council direction, we issued another RFP earlier this year and received three responses (Forward Appraisal LLC, Accurate Appraisal LLC, & Associated Appraisal Consultants, Inc.) The City Manager, City Clerk, Director of Development Services, and I interviewed two of the firms (Accurate & Associated). Attached is a comparison of the pricing for the three respondents. Following the interviews it is our recommendation to hire Associated Appraisal Consultants, Inc. using their Option 2 proposal with alternating year interim market updates. Although we realize that their overall price is higher than Accurate’s we understand that any sort of transition to a new company will include a substantial onboarding cost. We feel that Associated’s software will be a great asset for staff as well as create better transparency for residents. Associated serves over 240 municipalities throughout the state. They are recognized as a leader in the state and received exceptional recommendations from their clients. We previously discussed the considerations around performing a full valuation every year or moving to an interim year schedule. We recommend moving to an interim schedule with this contract to minimize the cost increase of the contract. Most communities conduct assessments using an interim, or longer-term maintenance schedule over an annual full valuation. Please feel free to contact any of us prior to the meeting with any questions. | attachments=3 | reports=1

Annually departments review their budgets and request an encumbrance to carryover funds from one budget year to the next. These funds are for projects that were budgeted for but for one reason or another were unable to be completed within the budgeted year. In addition, there are several donation accounts that the city tracks that are included on this list to be available to be spent for their designated purpose in 2026. Attached is a listing of the department requests to encumber these funds to be used in 2026. The general fund total request is $737,696.23. The City’s 2025 audit will take place the week of March 30 th with financial statements usually being presented in July. Please feel free to contact me prior to the meeting with any questions. | attachments=1 | reports=1

I have attached a summary of the City’s Cash and Investments for your information and review as of January 31 st , 2026. I have also attached last year’s monthly summary of the accounts, so you can see comparable activity throughout the course of the year for all accounts. The City’s interest revenue for January was $283,779.08. During the month of January, we made tax settlement payments to the other taxing jurisdictions and continued to collect tax payments. We received $445,001.62 in our LGIP account from the State for our Connecting Highway and Transportation Aids. Both the Associated Bank Trust and Charles Schwab Investments increased due to dividends and interest. Feel free to contact me should you have any questions about this item. | attachments=3 | reports=1