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From YouTube: Finance & Budget Committee 7-12-2022
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C
C
Okay,
very,
very
good,
so
thank
you,
everybody
for
doing
this.
One
virtual,
I
think,
there's
several.
C
It
easier
for
this
for
this
meeting,
so
why
don't
we
go
ahead
and
go
into
public
comment.
E
B
F
Yes,
okay,
do
we
have
a
time
limit?
I
have
just
like
three
minutes
or.
F
Okay
on
that
order,
so
fine,
okay!
So
let's
acknowledge
that
residents
don't
want
to
feel
nickeled
and
dimed
with
added
taxes
and
fines
according
to
jonah
meadows
from
the
patch,
with
more.
G
E
F
F
The
average
american
household
pays
nearly
2
200
in
property
taxes
annually.
According
to
census,
bureau
data
evanston
residents,
on
the
other
hand,
pay
an
average
of
eight
thousand
two
hundred
twenty
eight
dollars
in
property
taxes.
The
city
of
evanston
is
the
seventh
highest
in
the
nation's
property.
F
Taxes,
marty,
lyons
former
assistant
city
manager
and
chief
financial
officer
for
the
city
of
amsterdam
sent
a
memo
on
april
18
2017,
a
northwestern
university
tax
exempt
property
analysis
and
he
found
that
northwestern
university
should
be
paying
the
city
close
to
29
million
dollars
each
year
as
part
of
the
city
portion
of
their
property
tax
levy.
F
Yes,
this
was
a
simple
analysis,
but
it
revealed
that
northwestern
university,
the
largest
landowner
in
the
city,
is
not
contributing
an
equitable
amount.
Through
a
plan
for
payment
in
lieu
of
taxes,
northwestern
university
has
237
buildings
with
a
combined
11
million
plus
square
feet
on
over
240
acres.
Northwestern
university
has
an
endowment
of
over
10
billion
dollars,
which
generates
interest
annually.
F
The
city
should
start
serious
discussion
of
setting
up
a
legitimate
payment
in
lieu
of
taxes
for
northwestern
and
other
large
tax
exempt
organizations
like
the
two
hospitals
which
put
numerous
burdens
on
the
city.
Thank
you
and
that's
my
comment.
C
All
right,
thank
you
very
much
for
your
for
your
comments.
Next
comments.
E
Going
one
going
toy
okay,
moving
on
to
john
moore,
if
you
wish
to
speak,
please
speak
now.
I
Hey
jess
thanks
very
much,
I'm
john
moore,
I'm
a
resident
of
evanston
and
I
live
near
northwestern
university
and
I
saw
that
the
pilot
program
was
on
the
agenda
for
tonight.
You
know
carl
gave
a
lot
of
the
very
good
details
that
he
just
spoke
about,
and
I
obviously
support
all
of
that.
I
really
support
the
initiation
of
the
pilot
program
and
I
think
it's
going
to
be
a
win
for
the
city
for
its
residents
and
for
northwestern
and
other
large
non-profits
in
the
city.
You
know
it's.
I
I
did
not
realize
that
there
was
had
been
a
2000
referendum
on
this
point
and
until
I,
until
recently,
until
very
recently,
so
it's
kind
of
I
think
this
is
long
overdue-
to
create
a
program
like
pilot,
overwhelming
support
for
something
like
this
back
in
2000,
and
I
think
it's
longer
to
do
to
do
that.
Yeah.
I
think
to
carl's
other
point.
I
I
think,
if
a
more
fair
assessment
of
the
tax,
the
avoided
tax
burden
that
large
nonprofits
in
this
city
have
would
be
extremely
useful
and
then
an
assessment.
I
think,
as
pilot
calls
for
of
what
a
fair
and
equitable
contribution
would
be,
I
mean
right
now.
We
have
very
little
idea
of
what
the
fair
contribution
would
be
in
this
city
and
it
is
mostly
left
to
northwestern
and
other
large
entities
to
decide
how
to
distribute
their
largesse
when
they
distribute
it.
So
we're
really
entirely
it's.
I
It
feels
very
one-sided
to
me
now
and
I
don't
think
all
non-profits
are
created
equal
I've
been
on
the
boards
of
multiple
non-profits
and
I
see
a
distinct
difference
between
large
non-profits
that
own
a
lot
of
property
in
the
city
and
the
other
smaller
nonprofits
that
are
purely
social
service
organizations,
most
of
whom
own
very
little
property.
So
with
that,
I
encourage
the
committee
to
move
forward
and
I'm
delighted
to
have
the
existence
of
this
committee
now
in
the
city
to
consider
questions
like
this.
So
thank
you.
E
Yes,
the
next
person,
mary
brazinski.
If
you
would
like
to
speak.
J
Hi,
thank
you.
I
want
to
say
I
really
appreciate
having
this
discussion
also,
and
I
agree
with
carl
and
john
and
the
things
that
they
brought
up,
because
our
community
has
such
needs
for
its
infrastructure,
its
roads
and
an
undue
proportion.
I
feel
of
all
that
maintenance
and
falls
on
taxpayers
to
make
sure
that
it's
okay
and
then
we
all
pay
certain
amount
of
water
taxes,
so
nonprofits
that
pay
that
that's
nothing
unusual
or
that
is
not
a
give
to
the
city.
J
That's
just
part
of
renting
your
own
space
and
taking
care
of
you,
and
I
think
that
many
other
communities
I
think,
like
stanford,
harvard
yale.
They
have
worked
out
a
more
reasonable
arrangement
with
their
private
universities
and
other
non-profits
to
pay
a
proportion
based
on
how
much
is
there.
So
I
think
that
you
know
it's
nice
to
have
the
nonprofits
it's
they
do
a
service
to
the
community,
but
they
don't
make
the
community
they're
part
of
the
community,
and
so
they
need
to
contribute
their
fair
share
to.
J
E
H
H
So
in
the
future,
somebody
could
just
pay
attention
to
that,
so
we
all
end
up
in
the
same
place.
I
appreciate
it,
but
I'm
here
tonight
also
to
speak
in
favor
of
the
payment
and
lieu
of
tax
program,
the
pilot,
as
it's
called,
which
is
you
know,
such
a
wonderful
thing,
considering
that
our
city,
council
and
staff
continue
to
spend
money,
we
don't
have
and
staff
keep
pushing
us
deeper
and
deeper
into
debt.
H
H
H
This
is
a
the
year
ending
the
calendar
year
ending
in
2021
december
31st.
Supposedly
it
should
be
available
since
you
paid
the
auditors
70
thousand
dollars
to
prepare
it.
H
So
I'd
like
to
know
I'd
like
a
response,
since
I
haven't
heard
back
from
atheist
that
he's
going
to
forward
that
to
you,
it
should
be
a
great
tool
for
your
committee
as
as
lessons
learned,
I
hope,
and
what
not
to
spend
money
on
and
then.
Lastly,
I'd
like
somebody
from
the
leadership
of
this
committee
to
acknowledge
that
this
group
was
formed
at
my
understanding.
H
My
recollection
was
formed
to
take
a
lead
when
it
comes
to
the
budget
process
which
we
are
about
to
enter
into
again
in
a
few
months
this
year.
H
So
my
hope
has
been
that
this
group
would
take
ownership
of
the
budget
process
and
kind
of
steer
council
away
from
the
reckless
spending
that's
been
going
on
for
months
and
months
and
years
and
years
and
you'll
find
it.
H
I
think
in
that
audit,
when
I
looked
at
one
previous
you'll,
see
the
true
but
the
true
debt
that
the
city
of
edmondson
actually
is
committed
to
not
what
is
normally
reported
as
our
debt,
which
includes
the
pensions
by
the
way
the
pensions
is
something
that
should
have
been
paid
off
more
regularly
than
it
has
been,
but
again
circling
back
to
item
one.
M
A
lot
of
people
had
said
very
eloquent
things
about
the
pilot
program
and
I
just
want
I'm.
I
just
want
to
express
my
support
for
this
and
looking
into
these
the
program,
I've
lived
in
a
number
of
different
university
towns
and
there's
always
this
tension
and
friction
between
the
university
universities,
not
paying
their
fair
share
and
the
city
needing
some.
M
D
Yes,
thank
you
good
evening.
Everyone
I
mean
everybody's
already
touched
pretty
eloquently
on
the
on
the
issue
of
creating
a
task
force
around
the
pilot
program.
Did
a
lot
of
work
this
about
this
myself.
When
I
ran
for
mayor
of
chicago
or
not
mayor
chicago
mayor
of
evanston-
and
you
know,
evanston
residents
are
hurting
and
we
don't
have
the
ability
to
build
large-scale
commercial
districts
and
in
evanston
we
have
a
pretty
small
area
in
comparison
to
some
other
cities
and
towns
of
our
size.
D
This
is
a
perfect
opportunity
for
northwestern
to
to
contribute
to
our
community
and
that
doesn't
have
to
be.
You
know:
cutting
a
20
million
dollar
check
and
giving
in
to
the
city.
This
can
be
providing
programs
for
residents
and
and
collaborating
with
the
city
in
a
meaningful
way.
So
I'd
love
to
see
this
go
forward,
and
so
we
can
take
the
first
steps
that
are
necessary
in
order
to
provide
some
relief
to
evanston
residents.
So,
thank
you
so
much.
N
N
Thank
you,
trisha
connolly.
Second
ward.
I
won't
take
a
lot
of
time
here.
I
guess
what
I
would
also
say
is
you
know
beyond
what's
been
said,
I
think,
in
reflection
of
this
last
year
one
example
of
how
this
could
work
different
is
we
wouldn't
be
giving
hundreds
of
thousands
of
dollars
to
north
shore
hospital?
N
What
would
change
is
perhaps
everyone
they
would
be
coming
to
us
saying,
you
know
what
we
are
going
to
do
our
fair
share
here
and
we're
going
to
do
some
training
to
get
people
to
get
jobs
for
us,
because
you
know
at
the
end
of
the
day,
there's
a
lot
of
needs
in
healthcare
and
we've
got
the
supply.
They've
got
the
demand
and
that
kind
of
thing
that
kind
of
relationship
is
very
helpful
to
everyone
as
well.
N
So
I
think
this
is
one
of
the
many
ways
the
pilot
program
can
be
very
positive
and
I
look
forward
to
a
task
force.
You
know
that
you
all
are
going
to
push
forward
on
this
and
create
a
task
force
and
get
this
started.
There's
a
lot
of
great
models
out
there.
Thank
you.
C
Okay,
very
good.
Thank
you,
everybody
for
your,
your
thoughtful,
your
thoughtful
comments.
So
I
believe
the
next
step
is
to
review
the
minutes
from
the
last
from
the
last
meeting.
So
are
there
any
any
comments?
If
not,
I
can
offer
a
motion
to
to
accept
the
minutes
which
were
posted
with
the
agenda.
C
K
K
K
A
C
C
Okay,
very
good,
so
it's
like
it
passed
and
the
minutes
are.
The
minutes
are
accepted
very
good.
C
So
the
next
item
on
the
agenda
for
this
evening-
and
I
know
that
we
went
through
this
in
the
last
meeting
to
some
degree-
and
I
I
don't
want
to
get
into
that
same
level-
of
detail
relative
to
the
individual
bonding
but
was
for
mr
desai
to
take
us
through
the
current
planning
for
the
general
obligation
bonds,
and
I
believe
also
we
have
an
advisor,
I
would
say
just
in
and
set
up
for
this.
You
know
in
my
in
my
role
in
a
my
business
role.
C
This
is
a
very
difficult
time
to
issue
bonds,
and
so
I
would
just
like
to
specifically
talk
about.
What's
the
environment,
to
issue
bonds,
why
have
we
come
up
with
the
amount
that
we
are
for
bonds
and
have
we
looked
at
any
at
any
sort
of
alternatives
that
might
sort
of
minimize
any
any
any
bond
obligation
at
the
moment?
Given
the
interest
rate
environment
is
not
particularly
conducive
in
the
transactional
environment?
C
Is
a
bit
can
be
a
bit
choppy,
so
those
those
were
the
items
that
I
hope,
mr
desai,
you
could.
You
could
help
us
go
through
with
with
our
our
consultants,
ms
mckenzie.
B
Okay,
thank
you,
chair
livingston,
yes,
and
I
know
last
time
we
discussed
and
I
think
we
discussed
just
the
projects.
This
is
where
you
and
I
have
invited
miss
mckenzie
from
spear
financial,
who
is
our
financial
advisor
for
the
bond
issues
and
others.
So
she
can
talk
about
it
and
I
think
chair
livingston
had
an
interest
in
knowing
we
have
the
environment
where
we,
you
know,
are
in
the
current
interest
rate
and
what
what
are
the
other
options?
Can
we
do
private
placement
of
the
bonds
with
banks?
You
know,
can.
B
So
and
obviously
I
have
asked
for
like
a
tentative
numbers,
interest
rate
environment
is
changing,
but
instead
of
hearing
from
me
that
okay,
the
things
change
week
two
week,
sometime
yeah
kind
of
dramatic
change.
I
thought
you
know
and
when
I
heard
from
livingston
that
he
says
why
don't
you
invite
the
financial
advisor
back,
so
we
can
talk
about
it
at
length
and
explain
the
options
currently
interested
environment.
And
what
should
we
do?
You
know.
B
So
that's
why
I
would
ask
miss
mckenzie
from
spear
financial
to
take
it
over.
P
Good
evening,
everyone,
I
am
rafael,
mckenzie
with
spear
financial.
So,
as
everyone
has
noticed,
the
market
has
been
a
bit
volatile
the
last
several
months
and
in
fact
we
had
you
know.
Maybe
about
two
months
ago
there
were
a
couple
of
bond
sales
that
we
had
scheduled
and
we
held
off
on
those
and
in
fact
there
were
investors
as
well,
who
were
particularly
staying
put
so
to
speak
and
not
wanting
to
really
jump
into
the
market
at
that
time.
P
So
so
the
market
did
slow
down
a
little
bit,
but
we're
starting
to
see
some
sales
come
back
again.
You
know
there
are
needs,
there
are
local
governments
and
they
have
you
know,
construction
needs,
and
so
some
of
those
needs
are
best
met
through
the
issuance
of
of
bonds.
Now
hatashi
brought
up
private
placement
and
for
a
bond
size,
as
let's
say,
15
million
dollars
for
20
year
tight
bond
issue
with
about
1.1
million
estimated
debt
service
annually.
P
That's
not
an
issue
that
is
a
candidate
for
a
private
placement,
so
private
placement
financing
are
typically
shorter,
10
years
or
less
and
with
with
with
you
know,
we
normally
recommend
the
local
government
doing
those
type
of
an
issue
with
perhaps
your
local
bank.
There
are
other
banks
out
there,
but
we
typically
recommend
reaching
out
to
your
local
bank
or
the
bank
with
whom
you
have
a
relationship
with
now.
The
financing
that
we're
currently
looking
at
it's
a
two-fold.
P
We
we've
looked,
we're,
think
or
proposing,
rather
a
new
money
portion
and
then
there's
also
a
refunding
portion-
and
I
know
anthony
who
also
works
with
you,
anthony
from
spear.
He
sent
over
some
numbers
run
at
the
end
of
june.
I
looked
at
those
interest
rates
and
they
were
at
about
four
percent,
maybe
4.2
or
so.
P
At
that
time,
interest
rates
have
adjusted
a
little
and
I've
seen
and
there
hasn't
been
a
lot
of
bond
sales.
But
there
are
a
few.
You
know
we
keep
hearing.
Lumber
is
going
down,
so
people
are
starting
to
get
bids
again
on
their
projects
and
so
forth,
but
we're
seeing
some
adjustments
or
some
settling
with
the
raid.
So
far,
things
aren't
as
crazy
as
they
were
a
couple
of
months
ago
and
so
the
interest.
Q
Rate,
just
just
this
is
like
leslie
mcmillan.
I
guess
I
feel
like
we're,
putting
the
cart
before
the
horse
a
little
bit
here.
You
know.
First
of
all,
I
I
remain
unconvinced
that
we
need
to
issue
any
debt.
When
I
look
at
the
budget,
it
looks
to
me
like
there's
surpluses,
and
I
don't
know
I
mean
this.
You
know
I
follow
the
markets
daily.
Q
We
have
daily
updates
issuing
debt
into
a
very
volatile
market
unless
you
absolutely
have
to
seems
like
an
irresponsible
choice,
so
I
I
guess
I'm
not
fully
convinced
the
other
thing
you
know
that
I
continue
to
go
back
to,
and
I
don't
understand
is
why
we
are
issuing
long-term
debt
for
life
for
for
projects
that
aren't
long
long
lived.
I
don't
understand
the
fact
that
we
don't
consider
a
line
of
credit
which
I
think
could
be
a
much
cheaper,
alternate
alternative.
Q
I
think
that
the
rates
would
be
lower,
certainly
than
20-year
debt,
so
you
know
tesh
again.
I
just
remain
completely
unconvinced
that
we
need
to
do
any
debt,
let
alone
issuing
into
a
market
like
we
have
we
don't
you
know
I.
I
don't
think
we
have
any
idea,
I
think,
there's
so
much
uncertainty
out
there
in
the
capital
markets
that
you
I
I
don't
think
what
we
know.
What
will
be
happening
in
three
or
four
weeks.
There's
just
you
know
too
many
factors.
There's
china
who's
continued
to
be
shut
down.
Q
B
Right
then,
I
think
you
might
have
a
valid
point
but
as
I
think,
to
talk
to
livingston-
and
he
suggested
to
have
this
kind
of
conversation
and
that's
what
we
are
right.
At
least
you
know
it's
not
that
okay,
you
have
to
tell
okay
yeah,
go
ahead
and
do
bonds
or
do
the
private
bill
just
to
kind
of
get
an
overall
sense
for
all
other
members.
You
know
of
the
interested
environment
and
other
financing
options.
Obviously
well.
Q
Q
Of
course,
they're
gonna
say
that,
but
you
know,
and-
and
you
know
that
speaking
as
a
professional
in
the
finance
industry,
I
understand
exactly,
but
I
think,
as
a
committee,
we
need
to
be
really
responsible
and
looking
at
our
balance
sheet
and
saying
just
like
you
know,
people
who
are
you
know
with
their
personal
balance
sheet
right
now:
they're
tightening
their
belts.
They
you
know
they're.
Looking
at
you
know,
what
do
I
have
to
do?
Most
people
are
if
they
have
a
well-placed
mortgage
they're,
certainly
not
going
out
and
buying
another
home.
C
Yeah
so
let's
say
thank
you,
mr
miller.
Thank
you
very
much
for
that.
I
think
I
think
we
have
two
issues
here
that
we
want
to
talk
about.
Okay,
one
is
if
we
were
to
go
to
market
now
with
some
sort
of
debt
offering
what
are
alternatives,
given
the
very
volatile
market
that
you
were
talking
about
in
the
very
expensive
market,
expensive
today
might
look
cheap
in
a
year.
C
I
don't
know,
but
I
know
that
what,
regardless
of
amount,
what
our
options
that
we
should
be
considering,
besides
the
normal,
you
know
20-year
type
multi-trans
facility
that
we
typically
do.
What
are
there
any
alternatives,
and
if
we
wanted
to
do
what
were
you
know
what
we've
historically
done?
What's
even
our
chances
of
getting
that
done
in
the
environment?
So
what's
what's?
What
is
the
debt
sort
of
instrument
I'd
like
to
spend
a
few
minutes
on
and
then
separately
maybe
get
more
of
an
understanding,
mr
desai,
about
what
sizing
you're
considering,
and
why?
C
Because
I,
I
would
agree
with
leslie
that
in
a
in
a
market
like
this,
it
is
a
time
to
sort
of
you
know,
borrow
the
minimum
on
a
long-term
basis,
given
the
volatility,
but
let's
just
talk
first
about
what
are
the
options.
Besides,
you
know
what
we
typically
do.
Q
C
B
P
Well,
I
was
I
was,
I
mean.
The
line
of
credit
is
certainly
as
a
as
a
homeroom
home
rule
community.
The
line
of
credit
is
certainly
one
of
the
best
option
for
the
for
for
the
city
at
this
time,
and
the
reason
being
is,
the
line
of
credit
is
typically
you're
only
charged
on
the
portion.
P
You
know
that
of
which
you're
you've
drawn.
So
if
you,
if
you
do
a
lot
of
credit
for
20
million-
and
you
only
use
five,
then
you're
only
paying
on
that
five
five
million,
so
that
is
actually
the
best
option
for
the
city
right
now,
the
if,
if,
however,
the
city
finds
that
there
is,
in
fact
the
need
to
at
some
point
issue
bonds
a
couple
of
months
ago,
yes,
the
market
was
volatile,
things
have
settled
a
bit,
however.
P
The
feds
have
been
talking
about
increasing
rates,
and
we,
I
was
just
on
a
call
this
week
and
they're
talking
about
maybe
50
or
75
basis
points
again.
So
in
terms
of
timing,
this
is
a
better
timing
compared
to
later
on
down
the
road,
let's
say
eight
months
down
the
road
or
a
year
from
now.
If
the
city
should
decide
that
well,
we
do
want
to
at
some
point
bond,
you
know,
and
so,
and
so
yes,
this
is
this.
P
C
So
if
I,
if
I
can
add
on
that-
and
I
think
leslie
would
have
the
same
sort
of
commentary,
long-term
rates
have
already
moved
up
to
the
expectation
they
could
go
up
further
for
sure.
But
and
at
some
point
we
absolutely
will
bond.
You
know
additional
money,
it's
a
matter
of.
Is
it
a
prudent
and
efficient
move
to
to
to
go
to
some
sort
of
variable
rate?
C
Shorter
term
facility
which
granted
could
move
up
over
time
might
be
unlikely
to
go
to
the
four
percent
that
you're
mentioning
on
what
a
long-term
rate
is.
So
I
think
jonathan
also
had
a
comment
he'd
like
to
add.
P
Right,
the
last
I
saw
there
was
a
bank
offering
maybe
two
a
little
over
two
percent
on
a
short
term.
So
that's
certainly
something
to
consider.
I.
Q
I
think
you
could
probably
do
better.
I
think
you
could
probably
do
better
than
that.
It's
so
fur
plus
some
sort
of
amount,
and
we
certainly
should
be
able
to.
I
mean
we
work
with
enough
financial
institutions,
I'm
happy
to
make
some
introductions
if,
if
that
would
be
something
of
interest,
but
no,
I
think
we
can
do
better
than
that.
I'm
happy
to
talk
to
our
you
know
our
internal
lenders
at
u.s
bank,
I'm
happy
to
introduce
you
to
to
northern
any
number
of
institutions
in
terms.
K
P
Q
P
And
one
thing
I
I
wanted
to
mention
is:
we
do
have
contacts
with
some
of
the
with
really
all
of
those
banks
you
mentioned
as
well
leslie,
but
you
think
of
the
interest
rates
offered
again.
It
depends
on
the
term
of
that
you
know
the
the
financing.
So
there
are
a
lot
of
things
that
you
know
somewhat.
Even
in
a
private
placement
type
situation,
we're.
J
P
That
some
banks
are
now
you
know
going
on
a
little
bit
longer
than
they
have
in
the
past
and
and
and
we're
also
hearing
that
some
banks
are
starting
to
not
lend
as
much
as
they
used
to
anymore
with
the
changes
in
the
market.
So
there
are
quite
a
few
there
there's
some
things
happening,
but
it's
certainly
it.
These
are
definitely
avenues
that
can
be
explored.
Q
Q
It
is,
and
then
you
know
what
we've
done
with
our
clients.
Is
you
know
if
you
see
rates
starting
to
move
up,
you
always
have
the
opportunity
to
you
know
lock
in
if
you
feel
like
longer,
term
rates
are
starting
to
move
and
it
buys
you
a
little
bit
of
time.
Sherry.
I
think
you
have
your
hand
up.
B
I
mean
we
had
a
line
of
yeah.
We
had
a
line
of
credit
for
one
of
the
tiff
ones,
but
it
was
under
million
dollars,
so
we
did
line
up
credit
during
the
kobe
time
we
didn't
know
anything
during
the
march
in
april
may,
so
we
had
a
15
million
dollar
line
of
credit
with
the
byline
bank
at
that
time,
around
one
percent
rate
yeah.
R
B
I
could
easily
get
that's
a
good
point
from
leslie
mcmillan
yeah.
I
mean
I
could.
B
And
they
could
give
me
a
rate
and
again
sometimes
yes,
I
went
with
the
buy.
B
Q
A
R
C
Yeah,
irrespective
of
5
million
10
million
15
20
million,
what
are
alternatives
to
not
just
do
what
we
typically
do
of
issuing
a
multi-tranche
20-year
bond
into
a
not
overly
constructive
market.
So,
let's,
let's
just
learn
more
about
what
what
are
alternative
instruments
and
then
I
would
like
to
understand
what
the
current
thought
is
on
sizing
and
why?
But,
let's
miss
mckenzie,
maybe
we
could
get
some
additional.
C
You
know
additional
your
thoughts,
I
mean.
How
do
you
think
the
rating
agencies
would
view
us
going
to
a
going
to
some
sort
of
a
line
of
credit?
You
know:
should
it
be
committed
there?
There
are
other
elements
as
to
how
the
rating
agencies
might
view
structure
exactly
if.
P
P
Yes,
it
is
certainly
a
cheaper
route,
even
in
terms
of
when
you
think
about
issuance
costs,
which
you
won't
get
with
the
line
of
credit,
and
so
it's
certainly
one.
It
is
the
best
option
right
now
for
the
city
to
consider
versus
bonding
now
for
your
we
what
we
did
and
we
didn't
just
look
at
your
new
money
or
your
proposed
new
money.
For
this
year.
P
We
also
looked
at
your
2013
b
for
potential
refinancing
for
savings
for
rather
debt
service
savings,
and
it
is
one
of
the
bond
issue
that
is
most
likely
to
move
at
some
point
in
the
market,
we're
watching
it,
the
the
numbers
weren't,
where
we
needed
them
to
be
the
last
time,
but
for
something
like
that,
you
would
do
what's
called
and
someone
brought
it
up
before
a
private
placement,
and
so
with
the
private
placement
you
would.
The
city
would
not,
the
city
would
not
go
for
a
full
bond
rating.
P
So
again,
that's
another
issuance
not
doing
a
full
bond
issue,
but
more
or
less
a
term
sheet
type
issue
with
a
bank
where
we
get
a
placement
agent
involved
and
those
are
actually
the
most
popular
right
now,
because
to
the
they
have
lower
interest
rates
and
we're
we're
also
talking
about
maybe
three
four
four-year
debt
service
on
the
2013
b
bond
issue,
which
is
about
3.6
million
dollars
overall
debt.
P
So
for
something
like
that,
we
we
certainly
wouldn't
want
to
go
for
full
bond.
Financing
is
my
point
but
more
for
a
private
placement
type
financing
where
the
cost
is
lower
and
we
would
not
go
out
for
a
full,
a
bond
rating
at
all.
C
And
can
I
ask
one
more
question
here
if
we
were
to
have
a
a
line
of
credit,
how
you
said
it's
pretty
typical
for
communities
like
evanston,
I
mean
what
what
percentage
you
have
a
rough
idea:
half
the
communities.
Is
it
unusual
that
we
don't
utilize
a
line
of
credit
in
our
in
our
financial
structure,.
P
No,
we
now
we've
seen
where
for
an
analogous
use.
For
example,
we
also
represent
aurora
and
they
use
a
line
of
credit.
That's
another
client
client
that
does
that,
and
so,
for
example,
they
you
know
not,
they
don't
have
20.
I
don't.
C
Okay,
okay,
so
I
think
I
think,
for
the
group
one
we
would
like
to
understand
more,
maybe
over
the
next
month,
assuming
we
have
time.
That's
another
thing,
I'd
like
to
understand
how
much
time
pressure
we're
under
to
get
a
bond
done
before
we
get
to
some
sort
of
liquidity
problem,
because
if
we,
if
we're
sort
of
stuck-
and
we
have
to
do
something-
then
we
need
to
understand
that
as
well.
C
C
Let's
not
feel
beholden
to
sort
of
what
we
typically
do
right.
So
how
do
we?
How
do
we
get
to
that
so
councilmember
burns
I'd,
say,
has
his
hand
up
yeah.
O
I
just
had
a
quick
question
and
if
people
can't
hear
me
I'll
try
to
I'm
going
under
a
bridge,
but
I
was
just
curious
with
the
line
of
credit.
How
long
once
the
interest
rate
is
established?
How
long
does
that
hold
for.
B
It
is
a
variable
rate
tied
into
the
any
index.
I
don't
know
whether
it
is
now
so
far,
plus
whatever
the
100
basis
point.
Whatever
yeah
I
mean,
so
it
is
a
variable
rate
and
generally
you
have
to
renew
it
every
year
when
I
took
it
for
15
minutes
during
kobit,
we
renewed
one
time
and
then
finally,
I
kind
of
it
was
unused
for
a
year
and
a
half
and
we
had
a
healthy
cash
balance.
So
we
kind
of
closed
it.
But,
yes,
I
mean
kind
of
to
wrap
up
the
whole
thing.
B
I
see
the
focus
on
the
line
of
credit.
I
can
reach
out
to
the
couple
of
local
banks,
particularly
as
leslie
mentioned,
where
we
have
the
deposits
and
find
out
the
rates
and
I
think
yeah.
It
would
be
kind
of
a
relatively
quick
that
we
would
have
up
to
a
15
million
dollar
of
line
of
credit
in
next,
like
three
to
four
weeks.
Q
B
Deposits
would
be,
I
mean
total,
I
don't
know
exactly
the
number,
but
again
the
we
are.
We
are
having
a
special
deal
with
the
both
the
banks
in
terms
of
the
rate.
Q
B
Just
kind
of
average
ballpark
it
would
be
yeah
I
mean
60,
70
million
main
buying
is
the
higher
because
they
have
all
their
operator
accounts
in
payroll,
accountable
and
all
other
special
accounts
which
we
have
to
maintain
for
federal
grants
and
all
that
interest
as
some
yeah.
And
then
we
have
a
quite
a
bit
of
kind
of
investments.
C
Yeah.
Okay,
so
let's
do
that,
I'm
not
saying
that
what
we've
included
we
want
to
do,
but
I
think
we've
included.
We
want
some
options
besides
what
we
normally
what
we
normally
do
and
if
I
think
it's
good
news
actually
that
we
don't
have
any
a
credit
line
in
our
in
our
structure
right
now,
because
if
it
makes
sense,
this
is
our
opportunity
to
sort
of
fill
up
that
that
bucket
okay.
C
So
let's
look
at
it
and
also
I
understand
the
the
I
mean
it
is
a
variable
rate
instrument.
I
understand
you
know
the
the
concern
that
that
can
and
likely
will
go
up.
It
will
go
up.
Given
what
the
fed
has
said.
It's
just
a
matter
of
how
long
would
it
take
for
a
current.
You
know,
let's
say
two
percent-
maybe
a
little
bit
less
than
two
percent.
C
You
know
you
look
for
for
times
like
this,
maybe
go
up
a
little
bit
more
on
variable
rate
debt,
wait
for
the
long-term
debt
markets
to
sort
of
come
back
down,
and
then
you
can.
Then
you
can
term
out.
You
know
that's
the
time
to
do
somewhat
of
a
larger
bond
to
free
up
more
capacity
under
your
under
your
variable
rate
instrument.
So
really,
I
think
what
other
people
have
said.
C
It's
a
way
to
buy
some
time
and
rates
will
go
up
absolutely,
but
it's
a
matter
they
have
to
go
up
quite
substantially
to
ever.
Get
to
you
know
what
we're
currently
looking
at
for
issuing
a
long-term
bond
and
who's
to
say
we
could
end
up
paying
more
for
a
period
of
time,
but
one
would
fully
expect
that
you
know
with
a
reasonable
amount
of
our
debt
being
variable.
C
We
would
end
up
saving
very
much
in
the
long
term
to
have
some
degree
of
variable
debt
in
our
in
our
structure,
congresswoman
or
congresswoman
councilwoman
kelly.
Sorry,
I
wasn't
giving
you
a
promotion
there.
L
Want
to
say,
in
addition
to
you
know,
looking
at
line
of
credits
or
variable
rates,
I
think
we
also
have
to
determine
you
know,
prove
the
need
if
we're
going
to
be
leveraging
that
so
that's
you
know
separate,
but
one.
In
the
same
I
mean
it's
a
different
conversation,
but
that's
absolutely
essential.
We've
heard
from
some
of
the
residents
this
evening,
so
it's
not
just
about
okay.
How
much
do
you
need
we're
going
to
go
with
a
line
of
credit
instead
of
a
20-year
go
bond?
C
A
C
H
C
So
I
think
we've
concluded
we
want
to.
We
want
to
look
at
those
two
things.
We
have
not
ultimately
concluded
that
the
20-year
normal
bond
issuance
is
absolutely
wrong,
but
it
looks
like
there
are
some
alternatives.
We
want
to
understand
more,
and
hopefully
we
have
time
before
we
would
actually
have
a
liquidity
need
to
actually
do
do
that
work
for
a
few
weeks
or
a
month
to
understand
what
our
options
are.
Is.
B
And
absolutely
as
I
I
would
reach
out
to
both
the
banks,
as
I
said
about
the
line
of
credit
and
report
to
that
next
time
you
know
okay
and
meanwhile
do
we
need
to
miss
mckenzie.
Otherwise
we
can
let
her
go
if
we
are
not
talking
the
financial
side.
A
C
Thank
you.
Thank
you.
Thank
you
very
much
so
so,
maybe
now,
mr
decided,
let's
just
talk
briefly
about
what
amount
of
bonding
you
were
anticipating,
and
why-
and
I
just
want
to
be
careful
that
we
don't,
you
know,
go
off
in
too
many
different
directions
here,
but
just
to
get
a
feel
for
what
were
you
anticipating
and
and
why
and
is
there?
Is
there
a
range
there.
B
Right
so-
and
I
don't
know
whether
lara
is
there-
maybe
dave
stoneback
is
there,
and
the
total
bond
was
around
15
million.
Obviously
we
haven't
accounted
for
like
taking
out
the
maintenance
items
which
we
are
not
going
to
bond.
Even
we
were
proposing
to
use
part
of
the
general
fund
surplus,
maybe
around
two
two
and
a
half
million
dollar,
so
that
we
can
reduce
the
size
of
the
bar.
The
total
bond
amount
was
around
16
million
I'll
have
to
see
that
out
of
that
10
million
dollar
roughly
and
again,
I'm
throwing.
B
That
would
be
what
we
call
a
tax
supported
debt
and
the
other
one
would
be
paid
for
by
like
enterprise
funds
like
waterfront
sewer
fund
parking
for
even
within.
I
see
this
here
that
the
library
has
a
portion
of
like
roughly
half
a
million
in
bond,
I'm
looking
at
their
kind
of
fund
financials
and
cash
they
are
carrying.
They
are
carrying
almost
50
fund
balance,
so
even
we
can
exclude
that.
H
C
S
When
we
did
this
discussion
last
month,
we
had
modified
the
amounts
so
that
it
was
about
9.8
million
for
the
tax
supported
debt,
but
then
for
parking
we
had
shown
around
965
for
water.
We
had
shown
6.4
million,
so
the
numbers
are
very
close
to
what
hitachi
is
saying.
We
can
re-look
at
it.
We've
gotten
some
project
information
in
that
we
didn't
have
a
month
ago.
I
just
haven't
had
a
chance
to
update
that
yet,
but
it's
probably
going
to
end
up
very
close
to
that.
Q
B
B
We
have
the
monthly
financials
with
the
fund
balance
and
cash
balance
by
each
fund.
R
Maybe
I
just
have
one
one:
one
idea
could
be:
is
there
like
a
way
that
you
could
chart
the
liquidity
needs?
You
know
the
15
million
or
10
million.
When
do
we
need
to
disperse
that
out,
because
that
might
make
a
choice
whether
we
use
a
line
or
a
bond?
You
know
if
it's
something
that
we're
going
to
need
and
right.
R
Or
private
placement,
so
I
think
it
would
be
helpful
for
me
to
piggyback
off
leslie
as
kind
of
this
liquidity
chart
over
the
year.
What
are
we
going
to
need
and
then
what
can
we
use
from
the
current
funds
that
we
have
to
pay
for
that,
and
where
are
we
really
short
and
what
months
will
we
be
short
or
is
it
all
at
once,
and
I
think
that
information
can
help
us
decide
on
the
vehicle.
C
Me
just
said:
hit
the
sneeze
button
there,
aside
from
some
type
of
borrowing,
also
yeah
just
minimizing
the
amount
of
time
that
that
debt
is
actually
outstanding
is
also,
I
mean,
probably
it's
more
important
than
actually
the
rate,
so
we
do
have,
as
as
ms
mcmillan
brought
up
and
ms
writes,
we
have
somewhat
of
a
bloated
balance
sheet
right.
We
have
a
lot
of
cash
and
the
last
thing
you
want
to
do
is
sort
of
fund
debt
issue
debt
to
subsidize.
C
G
K
C
There
a
way
to
manage
that
differently
had
the
fund
structure
differently,
so
that
we
only
needed
40
million
right
and
then
you've
got
a
free
bond
issue
right
there
that
you
didn't
need
to
do
because
you've
brought
you've
you've.
You
you've
generated
20
million
in
cash
flow,
so
council,
member
newsman.
K
B
No,
we
are,
I
mean,
that's
kind
of
typical,
because
arpa
has
put
us
a
little
over
that
and
that's
why
I
gave
the
more
like
and
what
we
are
typical.
You
know
1775
and
again
it's
depending
on
that
like
when
we
have
received
the
property
tax
for
two
months
in
march
april
and
even
in
august
september.
B
We
are
at
a
high
point
and
then
we
run
out,
and
then
we
call
it
dry
months
may
june
july
and
at
the
same
time,
in
september
october
november,
even
december,
where
we
don't
have
the
property
tax
money
a
lot
of
other
expenses
and
whatnot.
So
our
cash
balances
tend
to
be
low
right
around
november
december.
A
C
And
I
would
say
it
in
in
lumpy:
cash
flows
is
exactly
where
you
use
a
credit
facility
right
to
be
able
to
draw
down
that
credit
facility
in
periods
of
of
low
cash
flow,
but
then
not
not
have
unnecessary
borrowings
at
some
point
year.
So
I
think
that
it
sounds
like
there's
still
there's
some
variability.
C
Maybe
the
amount
of
bond
issuance
doesn't
have
to
be
15.
Maybe
it
can
be
10.
Maybe
we
can
look
at
that
further
relative
to
does
the
60
million
need
to
be
that?
Are
there
ways
to
more
effectively
manage
the
cash
to
to
you
know,
bring
down
the
amount
of
cash
really
debt
that
is
supporting
that
cash
in
some
ways
right?
So
I
think
that's
another
point.
Maybe
we
could
make
some
progress
on
over
the
next
several
weeks
of
what's
the
amount,
we
think
we
really
need.
C
What's
the
instrument
that
we
think
is
the
best
most
efficient
way
to
get
us,
you
know
to
get
us
there
recognizing
that
there
is
some
degree
of
interest
rate
risk,
but
again
it's
it's.
It
will
be.
You
know
the
alternative
is
to
issue
a
20-year
bond
of
four
percent.
We
know
that's
higher
right,
so
council,
member
nusma
thanks.
E
B
We
already
have
substantial.
I
think
I
like
to
see
the
balance
sheet
iupa
loans.
As
of
now
we
are
already
using
for
one
of
our
big
projects.
I
think
they
can
talk
more.
B
S
S
S
C
S
H
C
Okay,
so
I
think
I
know
we
have
other
things
on
the
agenda.
I
don't
want
to.
If
everyone's
comfortable,
I
think,
we've
concluded
some
good
things
here.
Let's
look
at
some
alternative
structures,
see
if
we
want
to
do
it,
let's
look
at
how
do
we
minimize
the
amount
that
we
need
to
bond?
C
C
So
again,
I
think
it's
a
good
position
that
we're
not
using
the
credit
facility
today,
because
if
it
belongs
in
our
structure,
then
good,
let's
introduce
it
and
we
have
capacity
right
so
that
that
then
I
think,
there's
a
lot
to
know
more
and
let's
get
some
more
information,
but
I
think
that
that
if
everyone's
comfortable,
we
can
move
on
to
the
next
subject
for
the
for
the
meeting.
L
C
C
Great
okay,
all
right
I'll
try
to
go
through
very
quickly
the
next,
the
next
subject,
which
are
subgroup,
topics
and
and
progress,
and
let
me
bring
up
a
presentation
so
we
had
talked
in
the
last.
We
tried
to
bring
this
up
a
window,
see
here,
okay,
sure.
Hopefully
I
bring
up
the
right,
the
right
thing
here,
all
right
for
the
beginning,
so
we
everybody.
Can
everybody
see
that.
C
Can
people
see
the
yes
okay
good
good,
so
we
had
talked
before
in
the
last
meeting
about
potentially
breaking
up
into
five
subgroups
of
a
couple
of
people
to
sort
of
give
some
focus
to
focus,
study
or
thoughts
on
a
couple
areas
that
I
think,
if
we
really
had
a
good
understanding
of,
would
would
really
push
us
further
down
on
on
understanding,
and
this
is
where
I
thought
we
we
had
left
it.
C
Okay,
so
the
first
is
on
improving
the
presentation
and
timeliness
of
the
financial
updates
to
the
council,
and
I
was
we
had
thought
in
the
last
meeting.
Councilmember
newsma
and
sherry
could
lead
that.
I
know
they've
already
done
some
work
relative
to
that,
but
that
that
would
be
an
a
focus
area
for
for
them
to
look
at
the
number
two
item
it
would
be.
I
think
we
need
to
put
together
a
financial
framework
that
we
get
more
comparison
between.
What
our
actual
spend
is
what
the
budget
is,
what
we've
done.
C
Historically,
I've
tried
to
do
some
work,
but
there's
still
a
lot
a
lot
to
do
on
how
it's
not
going
to
be
perfectly
right.
But
how
do
we
get
more
of
a
of
a
rough
functioning
model
to
project
out
into
the
future
different
discrete
revenue
streams,
expense
streams,
so
that
we
have
I
I
myself
I
just
feel
like.
We
don't
have
a
wonderful
planning
tool
to
either
understand
the
last
five
years
or
the
next
five
years.
C
So
I
would
like
to
work
on
that
with
council
member
reed,
and
my
and
myself
was
the
idea-
I
think
that's
where
we
left
that,
then
we
could
have
a
group
look
at
pension
and
planning.
Okay,
so
council,
member
wynn
and
sherry
could
take
a
focus
on
on
that.
Sherry's
got
some
very
good
expertise
in
that.
In
that
particular
in
that
area,
on
dead
planning,
councilwoman
kelly
and
myself
could
could
focus
on
debt
planning.
That's
just
some
of
what
we
were
just
talking
about,
and
then
I.
N
G
L
Like
there's
some,
you
know
three
and
four:
I
don't
think
we
can
really
separate.
C
K
R
Then
the
the
pension
side
has
both
the
investment
side
and
the
return
and
the
return.
Q
Q
C
Sure-
and
I
think
that's
in
some
of
the
and
I
and
I
have
a
detailed
page-
I
don't
want
to
spend
too
much
time
on
every
page
on
what
I
think
that
group
might
want
to
start.
Looking
at
okay
and
then
the
fifth
item
being
capital,
budgeting:
okay,
where
councilmember
burns
leslie
you
could
you
could
particularly
look
at
items
related
to
capital,
budgeting,
approval
analysis.
C
I
would
include
repair
and
maintenance
and
that
some
areas
that
you've
expressed
some
particular
interest
in
and
and
there's
a
lot
we
need
to
do.
Okay.
There
was
a
public
comment
earlier
that
you
know
we
need
to
take
the
lead
on
budgeting.
I
I
don't
think
we're
in
that
position
right
now.
I
think
we
are
still
very
much
in
the
information
gathering
and
really
getting
a
deep
understanding
of
individual.
C
You
know
financial
planning
elements
we
want
to
get
there,
but
ultimately,
once
we
have
a
great
understanding
of
these
first
five
items,
I
think
it
pushes
us
into
well
what
our
cost
saves.
What
are
additional?
You
know,
sort
of
revenue
sources,
and
I'm
not
talking
about
in
that
necessarily
it
could
be
an
element.
The
the
discussion
earlier
on
on
not-for-profit
sort
of
contributions,
but
so
then
I
also
and
we'll
send
this
around
my
recommendation
and
I
would
really
like
it
if
we
could
start
making
more
progress
in
between
meetings.
C
So
I
know
everybody
is
really
busy.
I
went
and
then
thought
about
every
one
of
these
and
again
these
are
just
my
thoughts,
but
the
the
you
know
the
the
council
member,
newsma
and
and
and
miss
reichus.
You
would
fill
this
out
redo
this
and
also
for
every
one
of
these
areas.
We
need,
I
believe,
to
assign
a
city
staff
partner,
okay,
and
I
think
that
all
you
know
all
roads
can't
can't
go
back
to
the
you
know
to
mr
desai
or
or
one
person.
C
How
do
we
split
this
work
out
so
that
there
is
a
primary
city
staff
partner?
That
can
really
help
make
some
progress
here,
so
I
don't
need
to
go
through
all
these,
but
on
financial
updates,
you
know
review
current
reports
benchmark
with
comparable
communities.
I
think
you've
done
a
lot
of
this
again.
C
I
don't
think
we
have
the
time
to
go
through
all
of
them,
but
I'll
send
this
around
and
really
would
want
each
group
to
take
ownership
of
what
they
think
the
major
initial
tasks
are
and
when
they
think
they
could
get
back
to
get
back
to
our
committee
on
on
what
they've
learned
and
what
their
suggestions
are.
So
that.
D
C
Be
financial
updates,
financial
modeling,
you
know
who's
the
right
person
for
us
to
to
work
with
there's
some
items
that
I
had
on
here
that
I
you
know
based
on
the
work.
I've
done
that
I
would
like
to
get
into
further
pension
planning
again.
You
know
we
need
a
city
partner,
so
you
know
understand
what
our
plans
are
really
make
sure
we
have
them
all
understanding
under.
C
C
We
are
in
some
ways
in
many
ways,
but
I
think
you
know
you
always
learn
by
kind
of
understanding
how
we
got
here,
maybe
meet
with
the
actuary,
and
so
we
can
use
it
in
the
other
part
of
our
long-term
planning
model
of
what
do
we
think
contributions
are
going
to
have
to
be
over
the
next
five
10
20
years?
So
again,
I
don't
need
to
go
through
all
these
debt
planning.
You
know,
understand
the
debt
portfolio.
What
our
immediate
needs
are
things
we
talked
about
today
meet
with
the
bond
advisor.
C
We
just
did.
We
need
to
agree
on
an
amount
for
what's
the
instrument
and
timing
that
we
want
to
do
in
2022,
but
then
also,
how
do
we
think
about
our
overall
debt
load?
Okay,
that's
one
thing
I
would
like
to
you
know
you
look
at
a
company.
A
company
has
some
very
sort
of
generally
accepted
measures
of
how
leveraged
is
a
company.
Well,
how
leverage?
How
leveraged
is
evanston,
there's
a
lot
of
debt?
C
Okay,
but
where
do
we
stand
relative
to
where
we
should
be
relative
to
revenues
or
whatever
it
might
be?
So
I
think
that's
something
that
really
builds
into
our
long-term
projection
model
and
then
finally,
capital
planning,
so
you
know
who's
the
right
person
to
work
with
council
member
burns
and
ms
mcmillan
on
again
my
you
know:
how
do
we
get
to
the
capital
plan?
What's
been
done
to
date?
You
know
how
do
we
prioritize?
C
C
That's
what
I'm
hoping
that
everyone
agrees
would
be
very
useful
if
we
have
to
divide
and
conquer-
and
I
think
we
start
with
those
five
areas
that
we
talked
about
before,
but
really
try
to
put
some
meat
on
the
bones
and
and
this
what
is
our
work
plan?
Who
is
the
person
in
the
city
that
we
can
work
with,
so
that
we
can
make
a
bit
more
progress
in
between
meetings
and
re?
If
we
really
had
great
understanding
of
those
five
items,
I
think
we
would
be
in
a
far
better
position
to
make.
C
You
know
very
constructive
recommendations
to
the
council
on
on
things
that
would
you
know,
improve
our
financial
situation
so
I'll
with
that,
maybe
see
what
other
people's
thoughts
are
on
on
that
yeah.
So
my
council,
member
reed,
yes.
G
I'm
sorry
if
I
missed
a
vote
or
two
stepped
away
for
an
animal
welfare
board
which
invited
me
to
speak
there,
my
apologize,
I
should
have
signed
off
for
a
second
but
yeah
sure
williston.
I
I
really
appreciate
I
thank
you
and
councilman
michelle.
It
would
just
like
to
be
a
superchair
quite
often,
and
so
I'm
appreciating
this
and
I'm
wondering
who
staff
and
your
department
do,
you
think
is
available
for
to
assign
to
these
various.
You
know
working
groups.
G
I
don't
know
if
we've
discussed
that,
but
do
you
have
the
staff
available
and
what
resources
might
we
need?
If
you
don't.
C
Tomorrow,
I
think
I
was
a
little
bit
distorted
mr
assad,
but
I
think
the
question
is:
do
you
have
re?
You
know,
I
think
we
would
look
to
you
to
say
who
are
the
five
people?
We
can
work
with
right
and
it's
a
hopefully
it's
not
a
highly
substantial
part
of
their
job.
It's
it's
like
the
rest
of
us
right.
How
do
we,
how
do
we?
B
Yeah,
absolutely
yeah.
Let
me
look
at
this
thing.
You
know
your
five
major
items
and
then
yeah.
I
would
talk
to
the
staff
internally
and
then
we
can
come
up
with
that.
Yeah.
T
How
many
folks
sorry
chair
livingston,
if
I
may,
how
many
folks
do
you
have
in
your
department,
attesh.
B
T
B
Right
now,
right
now,
as
I
see
the
finance
there's
no
budget
manager
jess,
who
is
started
in
january
as
a
financial
analyst,
so
she's
supporting
that,
and
then
we
have
one
accounting
manager.
Who
can
do
all
this
I
mean
his
main
focus
is
on
accounting,
auditing
day-to-day
but
yeah.
He
can
focus
on
some
analytical
piece
and.
B
B
B
T
This
might
be
a
cross-department
kind
of
ordeal,
and
that
might
be
where
we
get
some
of
the
support:
a
mix
of
finance
department
staff
and
maybe
laura
staff
as
well.
B
A
C
Okay,
thank
you
so
yeah.
That's
good!
Maybe
think
about
that,
because
I
was
thinking
yes
that
that
maybe
ms
biggs
would
be.
You
know
the
perfect
addition
to
that
capital
projects
group
or
someone
in
here
in
her
area.
So,
okay,
so
mr
decide
will
you
come
back
to
us
in
a
couple
days
and
say
who
who
can
we
work
with
and
then
I
think
people
can
break
into.
Hopefully
everybody
understands
what
their
area
is
and
we
can.
C
B
The
same
way
in
pension,
since
you
brought
it
up,
that's
the
one
of
the
other
big
areas.
Investment
side
is
more
or
less
transitioning
to
a
central
pool.
It
is
mixed.
I
think
we
have
fire.
Pension
fund
has
gone
to
the
pool.
Police
is
still
kind
of
a
yeah,
not
full
yeah
transport.
So,
but
in
terms
of
contribution
with
that
url,
so
yeah,
where
we
needed
yeah,
I
can
tie
up
and
coordinate
with
actuaries.
B
So
if
you
have
any
specific
questions,
you
know
how
we
come
up
with
these
things
and
what
we
can
do
to
kind
of
make
it
more.
There
are
always
like
a
various
options
like
mentioned,
I
think,
a
couple
of
months
ago
at
the
mention
that
pension
obligation
bonds,
obviously
that
is
too
expensive
and
out
of
the
things,
but
yes,
actually
it
could
be
a
great
asset.
When
we
talk
about
the
pension
side.
C
Absolutely
I
mean
they
come
up
with
a
table
of
what's
our
funding
goal
and
what
are
the
contributions
over
5
10
20
years
right
to
get
to
x,
y
and
z,
so
that
would
be
very
useful
to
have
to
plug
in
then
to
our
long-term
model.
So
we
can
understand.
What's
that
mean
you
know
what
does
that
mean
relative
to
our
overall
liquidity
over
that
that
period
of
time?
C
Okay,
okay,
very,
very
good,
so
I
think
you
know
to
keep
us
on
on
the
agenda.
I
think
next
is
councilwoman
kelly
to
go
through
the
the
pilot
program,
which
was
also
mentioned
in
in
public
comment.
L
You
excited
yeah,
so
this
is
just
for
discussion
this
evening,
so
you
know,
unfortunately,
we
don't
have
all
the
documents.
Aren't
there,
the
referral.
Isn't
there
I'll
share
my
screen,
and
I
can
show
you
some
of
these
documents
that
that
would
be
helpful,
but
I
want
to
make
it
clear:
this
is
for
a
task
force,
so
we
won't,
we
wouldn't
determine
here
nor
at
council
what
an
actual
pilot
program
would
look
like.
L
This
is
about
creating
a
committee,
a
special
committee
of
the
city
council,
like
what
we
are
as
finance
and
budget
to
work
alongside
representatives
from
some
of
our
largest
tax-exempt
institutions,
mostly
that
would
be
educational,
the
university
northwestern
and
some
of
our
hospitals,
and
the
idea
is
to
really
examine
that
relationship
between
the
city
and
the
institutions
and
to
understand
the
impact
on
local
revenue
and
to
determine
sort
of
to
work
collaboratively
collaboratively
to
really
establish
a
framework
that
we
all
come
to
agreement
on
of
sort
of
a
consistent
and
reasonable
what
could
be
contribution
or
goals,
and
this
is
all
voluntary,
I'm
I'm
I'm
very
deeply
familiar
with
northwestern's
charter,
I
mean
also.
L
I
don't
think
I
need
to
go
on.
Of
course,
we
all
value
and
esteem
northwestern.
You
know
it's
a
tremendous
asset
as
we
are
for
northwestern
and
I
in
particular
have
very
deep
personal
connections
to
northwestern.
From
its
inception
I
mean
my
in
my
youngest
son,
who
graduated
from
there
a
couple
years
ago,
so
so
I
just
want
to
say
that
so
the
idea
is
and
again
the
idea
of
creating
this
task
force.
This
has
been
done
in
hundreds
of
communities
across
the
united
states.
L
It's
high
time.
I
think
we've
heard
from
residents
it's
high
time,
evanston,
that
we
sit
down
and
start
to
begin
this
conversation,
and
this
will
really
strengthen
the
partnership
between
and
and
these
and
the
large
tax-exempt
institutions
in
our
city
and
again
this
is
a
voluntary.
This
would
all
be
voluntary,
but
I
just
want
to
talk
a
little
bit.
L
Maybe
to
give
an
example
of
boston
and
again
we
wouldn't
be
determining
how
this
would
look,
but
I
just
to
give
to
to
feed
sort
of
folks
imagination
of
what
this
could
look
like
in
boston,
which
has
one
of
the
most
famous
municipal
tax
pilot
programs.
They
started
theirs
in
2012
and
went
from
getting
about.
L
You
know
just
over
a
million
actually
to
up
over
40
million
in
10
years
in
contributions
to
the
city,
so
some
of
the
ideas
so,
for
example,
in
boston,
the
way
this
works
and
again
we
wouldn't
be
determining
what
this
would
look
like.
I
just
want
to
emphasize
that,
so
we
don't
get
too
tangled
up
in
that
in
boston.
L
What
they
do
is
they
look
for
any
of
the
tax
exempt
institutions
that
are
valued
at
more
than
15
million,
that
sort
of
that's
the
threshold
they
they
establish
in
order
to
consider
which
institutions
would
sit
at
the
table
and
be
part
of
this,
this
framework,
so
it's
15
million
or
more
and
then
what
they
do
is
they
determine
what
would
be
the
value
of
their
land,
what
they
would
receive
if
they
were
paying
taxes
and
the
equation
that
boston
uses,
for
example,
is
they
say,
for
example,
these
institutions
ought
to
contribute
25
of
what
they
would
pay
if
they
were
paying
property
tax.
L
So,
let's
say
northwestern
marty
lyons
and
one
of
the
speakers
mr
klein
made
reference
to
a
report.
This
is
the
only
one
we
have
right
now
from
2000
and
if
mr
klein
is
still
on,
I
think
it's
from
2017
15,
maybe
that
you
know
northwestern
would
be
paying
somewhere
upwards
of
30
million
in
taxes
if
it
were
paying
property
taxes.
L
So
you
know
you
take
25
of
that,
a
quarter
of
that,
and
that
would
be
the
amount
that
would
be
the
that
would
be
the
goal
and
then
what
boston
does
is
it
allows
every
institution
to
contribute
up
to
50
of
that
in
community
benefits,
but
not
just
anything.
It's
it's
decided
on
there's
a
whole.
They
decide
together.
The
committee
decides:
what
are
our
allowable
community
benefits
so
in
cash
it
would
be.
L
It
could
be
up
to
you
know
in
in
financial
contributions,
50
of
that
25
or
the
full
thing,
and
what
they've
seen
is
every
year
every
year,
those
amount,
the
amount
of
those
contributions
have
can
have
have
increased
every
single
year
since
2012,
like
I
say
to
the
point
now,
where
they're
you
know,
I
think
close
to
40
million,
so
it's
really
been
highly
effective.
L
It's
like,
I
said
it,
strengthens
the
partnership
with
your
with
your
institutions,
everybody's
at
the
table
together
and
so
I've
recommended
in
and
let's
see
if
you'd
like,
I
could
share.
If
you
want
to
see
it,
it's
it's
just
text
and
narrative,
but
I
could
share
the
proposal,
but
some
of
the
essential
elements
are
that
you
know
that
this
is
a
that
there's.
This
brings
transparency
to
the
payments,
there's
consistency,
a
framework.
So
it's
not
just
you
know
this
institution
gives
this
much
but
everybody's
held
to
a
certain
bar.
L
There's
consistency.
It's
completely
voluntary
and
it's
you
know
it's
based
on
the
value
of
the
real
estate.
That's
really
key,
and
I
think
we
all
understand
why
all
the
speakers
this
evening
all
spoke
to
that
right.
Now.
I
think
our
property
taxes.
L
B
L
Pardon
me,
and
so
and
and
so
it's
it's
just-
it
would
be
phased
in.
Also
that's
another
component
that
I
would
put
on
there
that
this
isn't
something
that
you
know
you
sit
at
the
table
together,
you
decide
on
it.
You
decide
on
your
your
formula
on
your
framework
and
it
becomes.
It
gets
phased
in
boston.
It
was
phased
in
over
five
years.
So
I
think
this
will
be
a
tremendous
value
to
our
city.
I
think
it'll
be
a
tremendous
value
to
northwestern.
L
Also,
as
somebody
mentioned,
there
was
a
referendum
back
in
2000.
I
think
it
was,
and
you
know
over
80
about
85
percent
of
the
people
came
out
and
said:
yes,
please
I
mean
they
went,
they
voted.
They
really
wanted
to
see
greater
collaboration,
financial
collaboration,
and
so
I
think
I've
covered
most
of
it.
So
I
think
the
idea
is
that
next
week,
hopefully
we'll
have
all
the
documents
and
again
I'm
happy
to
share
any
documents.
L
Now
I
have
you
know
the
boston
program
which
I've
will
be
up
for
our
next
meeting,
as
well
as
my
referral,
which
should
be
up
and
other
and
other
there's
many
many
documents
discussing
the
value
of
this
and
how
this
has
impacted
other
cities
and
again
hundreds
of
cities
across
the
nation.
I
can
just
rattle
off
some
numbers
of
other,
for
example,
dartmouth,
8
million
to
hanover
that's
10
of
hanover's
budget
of
80
million
yale,
15
million
to
new
haven
brown,
four
million
princeton
18
million
they.
L
Actually,
I
think
there
was
a
group
that
actually
sued
on
them
to
to
pay
a
higher
payment
to
move
taxes
harvard
over
six
million
and
we're
kind
of
like
at
one
million.
So
so
I
know
we
can
do
a
much
better
and
again.
I
think
this
will
be
just
truly
strength
in
our
partnership.
It'll
strengthen
the
town
gown,
I
think
it'll,
be.
You
know,
really
wonderful
for
all
of
us
for
evanston
for
northwestern.
So.
T
Yeah,
I
don't
think
we
need
a
super
long
discussion
on
this.
I
suppose
we
all
pretty
much
support
this.
I
I
just
want
to
add
one
well,
one
yeah
claire
totally
agree.
I
think
this
should
happen.
I
think
we
should
have
a
pilot
task
force.
T
My
only
ad
to
this
would
be
when
you
look
at
those
models,
particularly
the
model
you
discussed
in
boston,
and
you
know,
let's
take
a
quick
look
at
the
numbers
you
presented,
which
is
you
know,
30
million,
let's
adjust
for
inflation
and
just
say
it's
around
40
million
dollars
that
northwestern
would
pay
in
property
taxes
if
they
were
to
pay
property
taxes
today,
and
then
let's
take
that
25
percent
of
that
40
million
number
and
say
that
that
was
the
baseline
of
what
they
would
owe,
which
would
be
a
nice
even
10
million
dollars
per
year.
T
When
you
look
at
that
10
million
dollars,
you
know
boston
and
many
cities
on
the
east
coast.
Have
you
know
they
don't
have
as
many
taxing
bodies
as
we
do,
and
so
they
have.
They
don't
have
park
district
park
districts
in
the
same
way,
or
particularly
in
boston's
case,
particularly
school
board.
Their
school
system
is
unified,
unified,
taxing
body
with
the
city,
so
in
our
case
of
that
10
million,
that
northwestern
would
owe
the
city,
oh,
the
taxing
bodies.
T
70
of
that
would
be,
you
know
traditionally
going
to
the
school
districts,
so
roughly
seven
million
of
that
and
then
because
the
as
attestion-
and
you
both
pointed
out
roughly
19,
you
know
between
the
the
city
and
the
library.
You
know
about
20,
roughly
of
the
tax
bill.
L
T
So
this
isn't
yours
hold
on
just
let
me
just
let
me
finish.
I
didn't
no
one
interrupted
you.
So
what
I'm
saying
here
is
that
roughly
the
city
would
be
getting
in
this
instance
under
just
following
that
same
logic
from
the
boston
model,
which
is
you
know,
as
as
you
said,
the
kind
of
nation's
premier
kind
of
model
models
for
this.
T
You
know
they
would
owe
the
city
roughly
two
million
dollars
per
year
and
then,
with
that
fifty
percent
reduction
in
like
in
in
public
benefits,
they'd,
owe
us
about
a
million
dollars
a
year.
So
we're
you
know
somewhere
around.
T
What
we
should
be
getting
the
city
of
evanston,
one
to
two
million
dollars
per
year
would
be,
would
be
the
money
that
the
city
would
northwestern
owe
the
city,
but
they
would
owe
roughly
seven
million
dollars
to
the
school
districts,
and
so
I
say
all
of
that
to
say
that
I
believe
that
the
school
district
should
definitely
be
a
part
of
this
conversation
and
should
be
at
the
table,
because
you
know
we
all
serve
the
same
taxpayers
and
the
school
districts.
T
The
city
serves
stands
to
to
benefit
from
this,
but
the
school
districts
really
could
stand
to
benefit
from
this
and
benefit
the
taxpayers,
and
I
think
northwestern
may
be
even
more
interested,
as
is,
I
think,
harvard
or
some
of
the
east
coast.
Ivy
league
universities.
T
They
particularly
like
to
donate
their
money
to
the
school
system
in
particular,
or
see
their
funds
used
for
the
schools,
and
so
I
think,
northwestern
being
an
educational
institution
would
likely
want
to
see
a
lot
of
their
funds,
be
used
for
education,
related
activity,
and
so
it
makes
sense
both
given
the
amount
of
money
that
the
school
district
would
be
traditionally
receiving
and
that
it's
northwestern
and
then
we
can
look
at
the
hospitals
and
the
other
ones
as
well.
L
Thank
you
for
bringing
that
up
about.
I
have
talked
to
marcus
campbell
about
this
already,
I
think
initially.
This
is
a
special
committee
of
the
city
council,
so
we'll
discuss
that,
but
I
think
you're
absolutely
on
target
to
consider.
I
mean
we
all
know
that
these
institutions,
we
know
they
get
serviced
through
the
streets,
sanitation,
snow,
plow.
You
know
all
of
this.
We
know
that
they
do
receive
city
services
in
terms
of
the
educational
services.
I
agree.
L
I
think
they
also
reap
benefits
from
from
our
schools,
but
I
think
that's
something
that
we
would
discuss
on
this
committee,
so
I
I
don't
want
to
make
that
you
know
I'm
not
making
that
decision,
but
I
think
you're
right.
This
is
something
that
has
to
be
discussed
and
considered.
Is
this
going
to
be
shared?
You
know
with
our
school
districts,
but
but
again
this
week
part
that
what
the
task
force
would
look
at.
L
So
thank
you
for
bringing
that
up
and
you're
right
that
some
of
these
districts,
such
as
you
know,
dartmouth
that
is
a
unified
district.
So.
L
K
Yeah,
I
just
thought
thank
you
councilmember
burns,
quick
question,
noting
that
this
is
a
voluntary
scheme.
How
did
boston,
for
example,
get
harvard
to
voluntarily
throw
in
any
money
so.
L
The
way
they
do
this
it's
it's
through,
you
know
kind
of
transparency
and
publicizing
and
that's
what
they
do
so
ever
they
have
a
systematic
way
that
it's
publicized
what
percent
each
institution
may
got
to
its
mark
and
and
everybody
you
know
when
I
talk
to
the
county
side,
the
the
city
assessor
in
boston,
I've
had
many
long
conversations
with
him,
nick
everybody
sort
of
becomes
including
the
mayor
you're
a
little
bit
of
a
fundraiser.
L
L
And
it's
publicized:
every
year
it
goes
out
who's
getting
closest
to
their
mark.
Very
few
actually
hit
their
100
mark,
but
every
year
you
know
most
of
them
increase
and
what
they're
finding
is
that?
Actually
the
hospitals
come
in
the
highest
in
terms
of
hitting
their
their
pilot
goal.
The
universities
are
the
next
one
and
the
ones
that
come
in.
They
also
have
a
cultural.
So
they
have
three
categories:
they
have
educational,
medical
and
then
cultural,
the
cultural
comes
in
the
low.
So
I
don't
know
if
we
would
have
anything.
L
That's
cultural
in
this
town-
probably
not,
but
but
that's
how
they
do
and
actually
the
hospitals
do
come
in
on
the
highest
in
terms
of
and
the.
O
Yeah,
I
just
wanted
to
say
this
is
definitely
something
I
support.
I
too
campaigned
around
this
issue
and
and
and
know
a
lot
about
it
and
support
it.
I
I
similar
to
even
just
a
minimum
standard
with
with
tiff
when
you
know,
there's
any
discussion
about
you,
know,
taxes
and,
and-
and
you
know
in
lieu
of,
and
how
how
funds
are
used.
O
There's
a
joint
review
board
even
for
tiff
for
all
impacted
taxing
entities
are
not
invited,
but
they
are
a
member,
and
so
I
am
in
not
in
strong
support
of
waiting
to
invite
them
to
the
table.
I
think
they
have
a
reserved
seat
at
the
table
and
I
have
pretty
regular
meetings
now
with
dr
horton,
so
I
will
talk
to
him
about
this.
It
sounds
like
we've
already
talked
to
to
dr
campbell,
but
I
will
be
talking
to
dr
horton
and
I
think
they
they.
D
C
Okay,
all
right
is
is
that
I
think
with
that
we
are
sort
of
at
time
for
for
the
meeting,
yeah
council
member
kelly
anything
else
or
on
that
no.
L
I
think
that's
it.
I
was
gonna.
I
won't
do
screen
shares
tonight.
I
think
it'll
be
easier
just
to
have
all
the
documents
just
has
them.
I
gave
her
a
bunch
of
documents
today,
so
those
will
be
uploaded
hopefully
shortly
so
that
you'll
have
some
time
to
look
them
over.
I.
C
R
Yes,
councilman
newsman
and
I
met
to
go
over
the
financial
statements.
So
what
I'd
like
everyone
to
do?
Maybe
for
the
next
meeting,
is
go
to
the
city
council
website
under
financials
and
thank
you
hadesh,
because
we're
about
90
percent
there.
I
think
we've
gotten
it
down
to
about
11
pages
as
of
40.,
but
it's
a
pretty
streamlined
system.
We've
got
last
year's
actual
this
year's
actual
last
year's
budget.
R
The
one
thing
we
thought
of
and
we
wanted
to
bring
it
to
the
group-
was
maybe
spending
five
or
ten
minutes
hitach
each
meeting
just
on
the
general
fund,
because
that's
the
largest
and
maybe
just
explaining
the
categories
like
do
this
at
every
meeting,
just
one
or
two
categories:
five
or
ten
minutes
no
discussion,
but
just
so
we
can
all
kind
of
get
to
speed
on
it.
R
But
maybe
we
could
have
some
time
at
the
next
meeting
to
go
through
the
financials
with
everyone,
and
we
have
some
ideas:
how
often
we'd
like
them.
How
often
they
should
go
to
the
council
board
meetings
and
things
like
that.
B
A
R
C
Great
and
sherry,
maybe
your
group
in
particular,
you
know
if
we
want
to
say
every
meeting,
maybe
two
of
these
five
subgroups
just
gives
an
update.
Why
don't
we
have
the
financial?
You
know
financial
reporting
group.
R
K
J
C
We'll
be
ready
next,
okay,
so
with
that,
I
guess
we
can
adjourn
the
meeting.