Finance Minutes 1/19/2010

Minutes of the Finance Committee meeting held on Tuesday, January 19th, 2010 pursuant to notice duly given.


1. Meeting called to order at 6:00 p.m. by Chairperson Maas
2. Roll call: Jack Maas, Dick Doeren, Joe Stiloski, Tom Fulton and Ed Young. Mayor Nerenhausen, Bob Mommaerts, Kale Proksch, Ken Hayes, Dennis Steigenberger and Linda Belongia Administrator and as recording secretary also present.
3. Moved by Doeren seconded by Fulton to approve of the agenda as presented.
Motion carried upon verbal voice vote. 5 ayes

4. No correspondence or public input.
5. Discussion on recommendations from Harbor Commission on funding for the seawall repair project Contract A-09 and to award the contract for the same to McMullen & Pitz Construction for the low bid of $2,456,825 and
approve of Change Order #1 deducting from the contract an estimated
$509,366. Maas stated he feels a need to include back into the project the approx $107,000 for the floating pier and handicap ramp; Hayes went
over plan showing proposed project; Belongia went over the proposed
financial options on borrowing the additional needed to meet the cities
share; Per WisDOT Rails & Harbor, grant agency we received the
$1,416,000 from cannot change the scope of the project or budget as was
submitted with our original application for funding;

Moved by Young seconded by Stiloski to recommend to Council to approve of a loan through the State Trust Fund Loan Program of $500,000
at 3.50%.
Motion carried upon verbal voice vote. 5 ayes

Moved by Doeren seconded by Fulton to recommend to Council approval
of the bid from McMullen & Pitz Construction for Contract A-09 for
$2,456,825 and amend the recommendation and approve of Change
Order #1 for $402,390.47 for a contract price incorporating the change order to $2,054,434.93.
Motion carried upon verbal voice vote. 5 ayes

6. Moved by Fulton seconded by Young to adjourn. M/C
Meeting adjourned at 6:28 p.m.

Minutes submitted by Linda M. Belongia
Administrator