HomeMy WebLinkAbout2008 06 23 Informational 101 Oak Forest Wall and Beautification District Adisory Committee
COMMISSION AGENDA
ITEM 101
CONSENT
INFORMA TIONAL X
PUBLIC HEARING
REGULAR
June 23, 2008
Meeting
REQUEST:
The Community Development Department wishes to inform the City Commission of
action taken by the Oak Forest Wall and Beautification District Advisory Board at their
regular June 12, 2008 Advisory Board Meeting.
PURPOSE:
The purpose of this agenda item is to inform the City Commission of action taken by the
Oak Forest Wall and Beautification District Advisory Board (OFWBDAB) to apply
residual equity (fund balance) from the capital fund toward the debt service fund and to
reduce the OFWBDAB meetings from monthly to quarterly.
CONSIDERATION:
The Oak Forest Wall Extension Project was completed in March 2008, with all original
expectations of the original beautification project being satisfied at that time. Completion of
the wall project allows the Assessment District to enter into 'maintenance only mode'
requiring less City Staff and OFWBDAB time dedicated to ongoing regular business.
On June 12, 2008, at a regular Advisory Board Meeting, the OFWBDAB voted
unanimously to transfer remaining residual equity from the Oak Forest Capital Fund to the
Oak Forest Debt Service Fund, applying the remaining fund balance toward debt service
created from financing the construction of wall improvements. At the same meeting, the
OFWBDAB voted unanimously to reduce the OFWBDAB meeting frequency from twelve
(12) meetings per year to four (4) meetings per year (quarterly). The new meeting schedule
will be effective for the following months: January, April, July and October. The ability to
request a special meeting will continue to be available to the OFWBDAB, as necessary.
062308_ COMM_INFO _ 101_ OFWBD _Meeting_Reduction
The reduction in frequency of OFWBDAB meetings will result in a yearly savings of
three thousand dollars ($3k) from the Oak Forest Wall and Beautification Maintenance Fund.
COMMISSION ACTION: