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Finance committee advances multiple resolutions including $1.5M ARC application and a $200,000 local loan recommendation
Summary
The finance committee reported passing several resolutions: a $73,800 sale agreement split with the school district, support for a $1.5 million ARC loan-fund application, CDBG reallocations totaling $106,105, a negative SEQR declaration for the comprehensive plan, and referral of a $200,000 JLBC loan to Powerhouse Fitness for full council approval.
The Jamestown finance committee reported that it approved a slate of resolutions addressing property transfers, grant applications, CDBG budget reallocations and a locally reviewed loan recommendation.
Committee members said the mayor or authorized representative is authorized to enter into a sales agreement with the Jamestown City School District and the Jamestown Board of Public Utilities for 240 Harrison Street with a fiscal impact of $73,800 to be split between the city and the school district. The committee also expressed support for submitting a $1,500,000 application to the Appalachian Regional Commission to establish a revolving loan program through the Jamestown Local Development Corporation; Crystal (Director, Department of Development) emphasized that "it is to create a loan fund through a grant. So it isn't a loan through the Appalachian," clarifying that the award would be grant funding used to seed local loans.
The committee approved reallocation of Community Development Block Grant (CDBG) funds: $99,000 from ADA public-facilities allocations to CDBG business development and technical assistance, and $7,105 to an enhanced community-safety program and outreach for at-risk residents. The package included a negative declaration under Article 8 of the Environmental Conservation Law and the New York State Environmental Quality Review for the city comprehensive plan, allowing the process to proceed to a vote after final public input.
The JLBC recommended a $200,000 loan to Powerhouse Fitness at a 4% interest rate over a 10-year term; because the amount exceeds $100,000 the recommendation will go before the full City Council for approval. Committee materials also reported that all finance committee resolutions passed at the committee level.
Votes at a glance (committee level): - Sale agreement, 240 Harrison St.: fiscal impact $73,800 — approved by finance committee. - ARC Partnerships application (create $1,500,000 loan fund through Jamestown LDC): support/authorization to apply — approved by finance committee. - CDBG reallocations: $99,000 (business development) and $7,105 (community safety) — approved by finance committee. - Comprehensive plan negative SEQR declaration (Article 8): approved by finance committee; public hearing scheduled next week at 6:45 p.m. - JLBC loan recommendation: Powerhouse Fitness, $200,000 at 4% for 10 years — recommended to full council.
Committee speakers asked staff to continue outreach and to provide the council with final materials ahead of the upcoming vote on the comprehensive plan.
