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Council hears committee reports and public-works project update
Summary
Councilmembers reported on committee activity, a gravel pit committee review, and finance committee findings showing investment returns slightly above the PTF benchmark; staff said the public works facility move is nearly complete with final items remaining.
Councilmembers gave brief reports from committees and staff gave a project update on the public works shop move. The gravel pit committee reported no new activity; the finance and administration committee reported favorable investment performance that has outpaced the PTF benchmark over the last 13 months.
"PTF currently is about 3.98... and our return is about 0.25 to 0.5 a percent better than that," one councilmember reported. City staff said the public works department has largely moved from the old shop to the new shop and that a few landscaping items remain; final payment to the contractor (VDC) remains to be made pending final wrap-up and a meeting with ownership to close out the project.
