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Finance Committee
Minutes
Monday, April 28, 2008
3:00 p.m.
Atascadero City Hall
6907 El Camino Real, Atascadero, California
Members Present:
Mayor Mike Brennler, Council Member George Luna, City Treasurer Joe Modica, City
Manager Wade McKinney, Administrative Services Director Rachelle Rickard.
Staff Present:
Assistant City Manager Jim Lewis, City Clerk / Assistant to the City Manager Marcia
Torgerson, Community Development Director Warren Frace, Administrative Services
Deputy Director Jeri Rangel, Administrative Assistant Victoria Randall
Call to order: 3:02 p.m. by Mayor Brennler
Public Comment: None
Business:
1. Economic Development Project Support and Update
Staff distributed a handout reflecting the status of economic development eff orts and
discussed several of the projects.
West Front – Holiday Inn is slated to open in June. A fast-food restaurant tenant has been
secured and efforts are being made to add a full-service restaurant tenant.
Staff met with reps from University of Phoenix regarding a possible location in Atascadero.
Staff discussed financing options for Colony Square. The Finance Committee approved
scheduling a closed session to discuss purchasing property in Colony Square. Completion
of the 10-screen theater is targeted for May 2009.
The Finance Committee approved scheduling a closed session to discuss purchasing
property from Atascadero Ford.
Finance Committee
April 28, 2008
Page 2 of 2
2. Mid-Cycle Budget Review
Staff reviewed in detail the draft staff report prepared for Council on mid-year and mid-
cycle budget revisions. Copies were distributed.
Staff reviewed proposed budget adjustments to address the current fiscal situation. Other
recommendations to the Council would include:
Aggressively pursue revenue enhancement options
Institute a policy of deferring new or expanded programs until the economy situation
improves.
Maintain regular daily operations while monitoring and re -evaluating the fiscal
situation.
Mayor Brennler commended Staff on the thoroughness of the report and stated that
although drastic changes are not needed immediately, caution should be exercised. Luna
added that it is time to be careful.
PUBLIC COMMENT:
No Public Comment offered. Mayor Brennler closed Public Comment.
3. Adjournment
Mayor Brennler adjourned the meeting at 5:28 p.m.