Minutes 05/28/1991 - Laserfiche WebLink

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150 TUESDAY, MAY 28° 1991 that approximately $348,000 had been spent on asbestos removal:'todate. Mr. Lamm confirmed that the remainder of the allowable bond funds could be used to fund the project addressed in the most recent Literary Fund Loan application (Phase 2A, Asbestos Abatement Project, Albert Harris School) and for future asbestos removal projects. Finance Director Richard Fitts, in response to questions, stated that the City had funded the $348,000 in asbestos removal costs thus far from pooled cash, thereby resulting in a $348,000 deficit in the "asbestos removal fund". Upon motion, duly seconded and by unanimous vote, Council authorized the City Manager to execute the Bond Sale Agreement. Council considered a report on the removal of traffic hazards at Druid Hills Shopping Center in which the City Manager reported that he had met with James D0 (Nubby) Coleman, Jr. concerning an improvement project that involves the revitaliZation.of the Druid Hills Shopping Center. Mr. Brown said that based upon Mr. Coleman's plans for improving the interior of the Center, there is a need to close three of the existing driveways. Mr. Brown said that the closures would improve the safety aspects of traffic flow along Spruce Street, Indian Trail, and the in-and-out traffic at the Center. Mr. Brown recommended'that the City participate by providing labor and equipment with Lanier Farm paying for materials. Upon motion, duly seconded and by unanimous vote, Council approved this arrangement. Council considered adoption of Ordinance No. 91-5 appropriating $45,593,672 from the various fund sources of estimated revenue and establishing tax rates for FY91-92. 'CoUncil had been provided with a written report from Mr. Brown in which it was noted that the total savings from the City's participation in the early retirement program in FY91-92 was $173,742. The additional cost of insurance was $10~843~ resulting in a net savings of $162,899o Mr. Brown