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Attachment B 2!B ACKGROUND 3!Several months ago, the City Council directed the Finance Commission to review and bring forth 4!recommendations on a number of policy considerations. In addition, the Finance Commission has 5!established its own recommendation regarding one of the Council’s recent initiatives.The Finance 6!Commission recommendations are as follows: 7! 8!The Finance Commission recommends that the Council revise the City’s Capital Investment 9!Policy to incorporate a CIP Priority Ranking processand assign priority rankings to individual :!categories or items in the CIP(See supporting information belowplus attached November 14 and 21 December 12, 2017 meeting minutes). 22 23 The Commission recommends that the $850,000 in excess TIF proceeds from the recently 24 decertified TIF District #11be used to finance the construction of the Golf Course Clubhouse 25& Community Building(See attached December 12 meeting minutes). 26 27 The Commission recommends that water, sanitary sewer, and storm sewer infrastructure 28 replacements remain funded through utility rates rather thanthrough the property tax(See 29 attached September 12 and October 10, 2017; and January 9, 2018 meeting minutes). 2: 31 The Commission recommends that the Council establish a Cash Reserve (Cash Carryforward) 32 Fund to consolidate all unrestricted funds that are not derived from donations or earmarked 33 for capital replacements(See supporting information belowplus attached November 14 and 34 December 12, 2017; and January 9 and February 13, 2018 meeting minutes). 35 36 The Commission recommends that the Council delay the acquisition of the strip center 37 property located at 2719 Lexington Avenue to allow for more public discussion and 38 development of a long-term plan for the site(see attached March 13 draft meeting minutes). 39 3:In addition to these recommendations, the Finance Commission also requests further clarification and 41 guidance from the Council on its purpose and role. 42 43 Additional supporting information regarding some of these recommendations are included below. Copies 44 of meeting minutes from the discussions are included in Attachments A-E. 45