Agenda 07/13/1999 - Laserfiche WebLink

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t VIII. Consider establishing a schedule and location for FY1999-2000 City Council Town meetings. COMMENTS: We have tentatively scheduled the following times and locations for Council's Town Meetings for FY1999-2000: September 28, 1999 December 14, 1999 March 28, 2000 June 27, 2000 Clearview School Druid Hills School Virginia Museum of Natural History Martinsville Middle School CONSENT AGENDA A, Accept and appropriate $1,198.52 of Federal Forfeited Asset Funds into Revenue 01-000500-2404010--Federal Confiscated Assets and appropriate to Expenditure 01-310100-5415008--Federal Asset Forfeitures in the Police Department's budget for FY1998-99 in the General Fund. Authorize Machinery and Tools IDA Grants under the Enterprise Zone Program to Fitness Connection in the amount of $2,773.97 and to Product Restoration Services in the amount of $2,603.85 for their new investments of machinery and tools. COMMENTS: As you know, the Enterprise Zone incentive is designed to encourage new capital investments in plant and equipment. The incentive allows for a Machinery and Tools Grant for commercial and industrial projects, for new investment, for physical plant modernization, building expansion, or new operations. These companies have invested $290,693 for new machinery and tools in 1997 resulting in a tax rate of $1.85 per $100 equaling an additional tax of $5,377.82, which was paid in November 1998. The tax grant will be calculated by the following percentage over the companies' machinery and tools tax base at the time of new investment: 100% of the increase for the first year and 50% of the increase for years 2, 3, 4 and 5 after the investment. Ronnie Minter, Commissioner of the Revenue, and Chris Whitlow, Associate Planner, have verified the calculations and taxes paid. We recommend that Council authorize and appropriate the reimbursements to Fitness Connection and Product Restoration Services from the IDA Reserve Fund. C, Authorize the City Manager to execute a five-year Lease with Piedmont Trust Bank for roof space for three base stations on Piedmont's facility at 1 Ells- worth Street. (See Enclosure #2) COMMENTS: This Lease will allow the City to maintain radio antennaes for electric, water, fire and safety communications. We recommend that Council authorize the City Manager to execute this Lease.