Miami City Council
⚠️ DISCREPANCIES
⚠️ Discrepancies & Missing Documents (3)
⚠️ No Official Agenda Document
The city has not published an agenda document for this meeting on AgendaCenter. This is a transparency concern - agendas should be publicly available before meetings.
⚠️ No Official Minutes Published
The city has not published official minutes for this meeting. Under Oklahoma Open Meeting Act (25 O.S. § 308), minutes of all public meetings must be kept and made available.
🟡 City Has Not Published Minutes
Our transcript is complete but the city has not published official minutes on AgendaCenter. This may indicate a delay or failure to comply with open records requirements.
📹 Meeting Video
📝 AI Transcript
[00:02] I'm going to call it the regular scheduled meeting of my city council from Monday December 5th, 2022.
[00:07] I'll move to item number two.
[00:09] Proclamation declaring December 2022 as children first program appreciation month.
[00:15] And that's quite old in just here.
[00:17] Did you want to say something to anybody?
[00:20] No.
[00:21] Okay.
[00:22] Come on.
[00:23] We'll do a picture.
[01:01] I should.
[01:05] I do a more.
[01:08] I think something else but I have to do a lot.
[01:11] I think do that smoke.
[01:12] Once I don't want to show it.
[01:13] I don't know.
[01:14] I don't know.
[01:15] Come in.
[01:16] Oh yeah.
[01:17] We need to vote on that.
[01:18] I'll vote.
[01:19] Yeah.
[01:20] Okay.
[01:21] Motion.
[01:22] We approve.
[01:23] We will.
[01:24] Let me leave the building.
[01:26] You get a second.
[01:27] All right.
[01:28] All right.
[01:29] All right.
[01:30] All right.
[01:31] All right.
[01:32] All right.
[01:34] All right.
[01:35] Social equality.
[01:36] Public input.
[01:37] Unskilled personal preferences.
[01:38] They have them.
[01:39] Four consideration of agenda staff recommendations.
[01:40] We approve on as five and six.
[01:42] It was approved.
[01:43] It was blue.
[01:44] And second.
[01:47] All right.
[01:48] So most.
[01:49] All right.
[01:50] Seven.
[01:52] First day for mom area.
[01:53] Economic development service.
[01:54] Mr. Chairman.
[01:55] Do almost.
[01:56] Good evening, mayor.
[01:59] Council.
[02:00] How are you folks tonight?
[02:01] I appreciate the opportunity to be here before you.
[02:04] I was told that I had to keep it very short.
[02:07] And so I'm going to do my best.
[02:10] I told you a few months ago about the maids
[02:14] and the Miami Regional Chamber of Commerce
[02:16] currently operate under one board of directors.
[02:19] And that effective January 1, we would be separating
[02:23] in each of us, each entity would have its own board of directors.
[02:26] So that took a little bit of work.
[02:28] We had to update bylaws on both sides.
[02:31] That has been complete.
[02:32] And we are prepared January 1 to separate into two different boards.
[02:36] And so what I wanted to do was to update you on the make-up
[02:39] of that new maids board.
[02:42] The main thing you need to be aware of,
[02:44] 13 voting member board,
[02:49] of which the city of Miami has two permanent positions.
[02:53] The first is for city manager Bo Reese.
[02:56] The second position is for the mayor of Miami.
[03:01] or the mayor's designene, and in this case, that designene is currently a man to Davis with the Department of Turses.
[03:08] The new members that we have that are important are in C-A, you've got Sean Taylor with our best bank, C-10, Blake,
[03:18] blaming from first national bank, and C-11 Cameron Wilkins from Security Bank trust.
[03:27] What that does is, that's going to give us much better representation from our financial institutions.
[03:33] The reason that's important moving forward is because Mates has money to loan.
[03:40] We need to be in the business of loaning money to help local businesses expand, to help local entrepreneurs achieve their dream of being in business.
[03:49] And so we want to make sure we have a good plan in place to make that happen in the best way to do that.
[03:56] It's to get better representation from our financial institutions so that we can re-evaluate the current loan program.
[04:05] How we take applications, how we process applications, the review process involved in that.
[04:12] We want to streamline that. We still have to make sure we're protecting our investments.
[04:17] But we want to make that process quicker and easier for those who need access to funding.
[04:23] We're always going to be a little different from a bank because we tend to process a little more high risk loans because we typically will loan money to businesses who are just starting out.
[04:34] Who don't have a real strong track record doesn't mean they don't have a good product and it doesn't mean they don't have a good plan.
[04:41] They just don't have a good credit history because they're new.
[04:45] We can help them we have the resources in town.
[04:48] I don't know most of you have met Sandra Pierre who works with a small business administration office at NEO.
[04:55] She's amazing and she is one of the untapped resources we have in our community because she can help work with those new startups to put their business plans together together so that they can go to the financial institutions and come to Mades for funding.
[05:14] So that's a big goal for next year for part of our strategic plan is we want to make sure we're being aggressive and getting the word out that we have funds available.
[05:24] We have several different loan programs.
[05:26] They all serve for different regions.
[05:28] Some are very specific like downtown.
[05:30] Some are specific to city of Miami.
[05:34] Some are specific to Ottawa County and some will cover a for county area.
[05:40] But those funds are available.
[05:42] We need to make that process available to everyone so that if they need money to get their business started there is another avenue that they can pursue.
[05:50] So that's why we made an effort to include more financial institutions on our board.
[05:55] For the other changes, you'll notice here we've added some extra fish here.
[06:00] positions. The first one we added was for the Intertribal Council to have a permanent
[06:05] representation of the board in an ex officio capacity at this point in time. The person
[06:11] that will serve in that role will actually come from those who currently serve on the Intertribal
[06:17] Council. So the council, that council will meet this month in the tournament who their new representative
[06:23] will be on the maids board. So that's going to give us some valuable input from our native
[06:29] American partners, which we desperately need and greatly appreciate. The other one is another
[06:35] ex officio position for a representative from the Ottawa County Commissioners. And so we will
[06:41] be meeting with them to appoint one of their members to serve in an ex officio capacity on the maids
[06:47] board so that we can get more county involvement and input in the decisions we make moving forward.
[06:54] Also, even though we are separating boards, we are still actively helping each other's organizations.
[07:02] So Cindy Morris, who is currently the director of the chamber, will serve as an ex officio
[07:07] on the maids board and I will actually serve as an ex officio on her board. So those are the biggest changes.
[07:15] Now you'll notice there is one vacancy, C5, that vacancy is the seat that is currently held by Chief
[07:22] Ethel Cook. Chief Cook is moving over to the chamber board. And we'll be serving there. We have
[07:29] not filled that position yet. We're still having some discussion that the nominating committee felt
[07:33] that needed more time to evaluate different individuals before making a recommendation on feeling
[07:41] that particular seat. That will likely be done sometime right after the first of the year. So the other thing
[07:47] in closing, I'll tell you if you can scroll that up here. These are officers for 2023. So Heather
[07:55] Lillard will become the new chairperson of the Miami Air Economic Development Service. Brett Hayes will
[08:00] become Vice Chairperson and Amanda Davis with the city of Miami will serve as Secretary of the
[08:06] Treasurer of the New Organization. I know an organization new board, excuse me. And that's really all
[08:13] I wanted to update you on tonight. I will quickly tell you that we've been having some
[08:17] we've been working on actively trying to do something with the spec building. We do have a proposal
[08:22] out to a local company now. We're hoping to hear back from here in the next week. Actually,
[08:29] we had the opportunity Sunday to show the building to turn out to be an old friend, someone I've known
[08:34] for a while. So that was fun to do, but there's some interest there as well. So we've got some options,
[08:41] as always, we're just waiting for something to move forward. So we can get off high center and put
[08:46] that building to use either to sell it outright or to develop a long-term lease. The proposal we have
[08:55] out now to the local companies for two different lease options on that facility. One is a-
[09:00] As is for a certain amount, they come in and they do all the improvements they need to be able to use it.
[09:06] And then the other option is we do all of the work and then turn around and they at least at least on that.
[09:13] So that's where we are.
[09:14] Happy to answer any questions, but we mainly wanted you to understand again the transition process of going to two different boards.
[09:21] Who will be serving on that board and who the offices are moving forward?
[09:27] And I'm happy to answer any questions you may have.
[09:30] That's hard enough, move us.
[09:36] And Cindy Morris is here with the Chamber of Commerce as well if you have any questions.
[09:41] Or if you want to ask her about the makeup or the Chamber of Board, I won't speak to that because I don't know everybody that's on it yet.
[09:48] Would you like to tell us about the Chamber of Board real quick?
[09:52] I'll stay in correct.
[09:55] I'll stay in correct.
[09:56] I'll just know that they won't be approved till December 20th at our next board meeting.
[10:13] Forcome will be coming on board as our new chair.
[10:18] Chief Cook will take a past chair position to provide that experience and help this next year.
[10:27] My vice chair will be Debbie Fry with Gallagher's and then Secretary Treasurer will be Starlem Martin with Westco.
[10:34] She is the financial officer there, so we're very excited to have that expertise coming on board with us in that position.
[10:42] Let me see if I can remember the rest, Angela Gosney with Buffalo Run.
[10:46] Casina is also a financial, I think, CEO of financial.
[10:50] She's a financial director there and, oh gosh, I'm going to forget the rest, but we have a non-person board and then two ex officiers,
[11:01] which will be myself.
[11:03] I don't have a vote in our board meeting and then also Shannon will serve as the ex officio.
[11:08] Amanda Davis will also be moving over to our board representing the city and also serve on my financial committee.
[11:15] So we're very excited to be moving forward and doing this and hopefully giving different experiences.
[11:25] The chamber representing business and helping business and then Shannon, you know, creating new business and helping with retention and that type of thing in our community.
[11:34] So we're very excited, we have a lot of things happening and in both of our strategic plans, so just kind of keep watching for good things to happen.
[11:46] Well, you're hearing your past in chamber, I want to say great job on Christmas.
[11:53] Thank you so much.
[11:54] It was good. It was one of the best ones who's had no long time, I think. She guys did a good job.
[11:59] Thank you.
[12:00] Well, actually, I big thank you first of all to the city because we cannot ever make that happen.
[12:06] She pie tower, utility company, everyone works diligently with us to make that happen.
[12:12] So, both thank you for giving those people to us to make that happen, cleaning the streets.
[12:17] We know we had some bad messes, but it was great.
[12:22] And those were from the horses.
[12:24] Right, Shannon on the sidewalk.
[12:26] So, a big thank you to the city for allowing that help to come our way.
[12:32] But I will say thank you to the community because they just really embraced the theme of Christmas movie magic.
[12:38] As I was flipping through all of the pictures, the Gary Crowe was sending me Saturday night and yesterday.
[12:44] I was kind of almost in tears because we had so many floats.
[12:48] And, you know, many people don't know, but I was here as the Chamber President years ago.
[12:54] And truly, this parade was the first time we've seen that many floats.
[12:58] And it was, I think, in this we have judges because it was a hard decision to make and some great scores.
[13:05] So, we'll be making those announcements of awards Wednesday morning at 9.30 at the Chamber.
[13:10] So, do you've already decided?
[13:12] Yes, we figured that today.
[13:16] But we can't share that till Wednesday.
[13:19] Yeah, but we can't share that till Wednesday.
[13:23] So, if you want to find out, come join us.
[13:28] You know, the judges, we try not to alter their numbers.
[13:32] But, you know, many talks, Tyler.
[13:35] I do want to say thanks to that was really good.
[13:38] Thanks for the candy, Shannon.
[13:42] Any questions for them for a new one?
[13:47] I'm right.
[13:49] Lead A you see update on flood survey.
[13:52] Mr. Beckett Jim.
[13:53] Thank you very much.
[13:59] Thank you very much.
[14:01] I do want to tell you that I did not come to the parade and ruin it with any serious talk.
[14:08] I learned my lesson at the tree lighting.
[14:15] I thought, oh, don't want to bring bad thoughts to a happy occasion.
[14:20] But we do have serious thoughts on our mind.
[14:23] And I wanted to let, you know, that we're proceeding on with the flood survey.
[14:30] It's an interesting thing for us to do because it's one thing to ask these questions.
[14:42] But the hard part has been to answer to hear the answers.
[14:47] It's been more emotional to me than I thought it would be.
[14:53] I suppose it would be.
[14:57] But it was, it's been.
[15:00] There's a couple of things that we have learned by doing this that people have opinions, and they have been at the beginning of a survey they are reluctant to share it, but as we go through the questions, they begin to open up.
[15:24] And the stories that they have, that they've shared so far, are really touching and I think heartbreaking.
[15:35] But I wanted to show you these few images, and these are from the map that we have.
[15:42] The dark blue in this image is the floodway that we know is regulated floodway, and this is just a slice of mine I'm going to show you just a few more of these.
[16:01] The light blue over that section of the city is the hundred year floodway.
[16:11] So if you look closely, you can see that those are homes of people you know that are covered in that water when it floods here.
[16:26] Can I see the second image please?
[16:31] This particular image you see the regulated floodway with dark creek, and then you see the light blue which is the hundred year and then the 500 year flood.
[16:48] We hope we never have that one.
[16:52] In this image we wanted you to clearly see the difference that gold color of the 500 or the two percent flood.
[17:04] We that we hope we never have.
[17:08] Along this edge didn't think he was ever going to be in flood, but any hasn't yet, but built his home up high enough that he thought he would be safe.
[17:29] And the last flood came very near, it didn't last at the shore there, but it was very near that home.
[17:41] And so even though there's that break between one layer and the next, it is you don't want to be on that edge, that edge is very hot.
[18:00] dangerous. That image also can show you the lower part of it can show you where that new
[18:10] development would go and how close and in lapping it might be to a floodpline.
[18:17] Could I see another layer please? Yeah, this one again. You've got in the above and below you can see the number of
[18:30] homes that are in the 500 floodpline but you also know that it's our only junior college sits in it to
[18:43] it sits in the 100 year floodpline as well as a number of other homes. Thank you and then last one please.
[18:55] When you look at the number of homes we've mentioned already but the number of businesses that can have and struggle with flooding all along
[19:09] the homes. We know that we are impacted and in grave danger. And so what I did not reluctantly but with such great spirit at the Christmas
[19:26] parade I'm going to ask you to help me do this too. And so we were able to produce a number of postcards.
[19:37] A donor came up that floods, he lives down in this area, came and donated the funds for us to print postcards and donated enough that we could postmark them for.
[19:54] And so we have already labeled these to go to the secretary of federal regulatory energy commission.
[20:06] And I would like to ask each of you to take a moment and my friend here asked the rest of these out.
[20:17] If all of you would take that moment and write a message that you would let us share with them on what you would ask the secretary to do in your behalf here in my
[21:02] One of the sweet comments we got the other day was just Merry Christmas and we had thought to
[21:12] Think how important that is to
[21:15] Let Firk know that these are real people with opinions and hopes and wishes for the future and
[21:23] Maybe best wishes, you know for them as well as for you all
[21:28] So there were a couple of other things that I wanted to share with you today
[21:36] And the two people that from by and and
[21:46] Climagration are coming to my Emma on Thursday and Friday
[21:52] And I'd like to know if any of you would like to meet with them
[21:56] They have helped us develop the survey they're going to help us develop
[22:01] And crunch the numbers for you so you'll know exactly how many people in this community
[22:09] How they feel about this or that how much they value their homes
[22:16] What they would hope for their future where would they like to live if they had to move
[22:22] Many of them are saying just in a higher ground in my Emma
[22:27] You know there's a great deal of love for this community
[22:32] And I will I'll collect all of those and
[22:37] But there's a couple of questions in the survey that I would like to share with you
[22:55] One is it's a very simple question and I think it's one that you all have struggled with yourself
[23:05] But the question is to provide your opinion on these following statements
[23:14] And one of them is there is a affordable, affordable quality housing is hard to find in the my area
[23:23] And so many agree that that's it is difficult to find
[23:32] And so if you're going to move where are you going to move, where can you move and can you find it here
[23:40] It's they are finding a way of deeply moving into that question
[23:49] Where would I go one of the other questions is would I accept a buy out if it was offered
[23:56] But once again many of them would like to stay where they are
[24:00] are and are simply asking for some adaptation so they can stay there.
[24:10] The other question that we have on here, and I would like to ask each of you to answer
[24:19] this.
[24:20] It's a very simple question, but I think it's been one that I would like to share with you.
[24:35] What is your opinion about the Grand River Damothe artist's decision to raise the water level
[24:42] of the Grand Lake of the Cherokee's?
[24:45] And as Martin Lively would say, we would say, what would your constituents want to know?
[24:58] What answer can you give them?
[25:01] So, are you in support of the decision to raise the level of the Lake?
[25:08] And I would just like to ask each of you, Mr. Eastapp?
[25:15] I don't know how to answer that question honestly.
[25:19] I don't know that I could because I haven't had feedback from my constituents.
[25:24] I could make some assumptions, but that would be more on opinion.
[25:27] Okay, well it may be all of you may have that as an answer and I would like to ask the council
[25:35] if I can come back and ask you at the next meeting for each of you to give me that answer.
[25:45] And that might give you time to ask.
[25:47] I can answer that question now.
[25:48] Okay.
[25:49] And Martin is I am 100% not in favor of your EA raising the water levels by two more feet.
[25:58] Okay.
[25:59] That would be devastating to our community.
[26:02] I thought there's enough of my constituents that I feel very comfortable and where I'm at on this.
[26:10] I think we have to put our own selfish stuff aside on this stuff.
[26:14] We're here to represent the people, the people I've talked to.
[26:18] You know, you got a few that just go on that edge case on it, I don't know.
[26:22] And then need some questions, Andrew.
[26:24] So I'm open transparent with the answer.
[26:28] If I don't know the answer, I go to our law team and find out the answer, but I think the majority
[26:37] of our people in this community stand strong together and their view of what happens
[26:45] of the water levels raised and it would be bad for us.
[26:48] Right.
[26:49] Right.
[26:50] That's yes.
[26:51] So Mr. Step, you still want to stay with your answer?
[26:54] At this time, yeah, I just honestly, I haven't had people approach me so I wouldn't want to make any assumption.
[27:00] Mr. Dunkel. I kind of feel the same way at Brian, but I will say that if they do raise the water levels to more feet
[27:08] We're in trouble. I would have used that.
[27:10] Yeah. Okay. Mr. Sam?
[27:14] I'm kind of in favor of answering those all three of them.
[27:17] It'd be pretty bad deal for like levels raised to, but I'm not only talking to a few people about it.
[27:25] I don't think it would be a bad deal for James too.
[27:32] Yeah. I appreciate that. I don't know.
[27:37] Yeah. I would probably echo the mayor's image on the exact same thing.
[27:42] I, my family's house flooded in O7.
[27:46] And so I can empathize with all of the community that actually flooded.
[27:53] And I think I'll necessarily think you even have to flood.
[27:58] The water coming up and having to reroute around the town to get to another part of the town is bad enough.
[28:11] So I'm, I agree.
[28:14] Yeah.
[28:16] Well, thank you for your opinions.
[28:20] I really appreciate that.
[28:23] It is a hard time right now in a hard decision.
[28:27] And I, I really appreciate your thoughts on that.
[28:32] What I'd like to ask is the opportunity to figure out with you how we can more easily give people access to us so they can complete the survey.
[28:50] And I'm wondering if you might be open to having the civic center and afternoon open that that we might invite people that live in the hundred year floodplain this order.
[29:07] We're going first to come in and complete the surveys.
[29:12] If that's a possibility that we could do that at some point.
[29:18] I don't think that's a council decision.
[29:21] That's probably a cabinet decision.
[29:26] I mean, I would be in support of it if you need us, but I don't think that he really needs us to.
[29:36] I'd love to do a couple of afternoons or mornings before Christmas, you know, in the next ten days or so.
[29:45] I'd love to do that and just make us available so that people that don't want to invite us in their house because it's for whatever reason.
[29:57] But, it is.
[30:00] It is a serious time right now and I'd love to work with you.
[30:05] Thank you very much.
[30:06] I think to both of us that okay for her to tell people we're trying to target another
[30:11] town hall for the February.
[30:14] So we're shooting for February for the next town hall.
[30:18] We don't have a date yet.
[30:19] We're just trying to get with lawyers to see what's good on her schedule.
[30:26] So you can kind of tell them February is what we're shooting for.
[30:34] Thank you.
[30:39] Nine or 22-16 for opening municipal retirement fund benefit plan level upgrade and
[30:48] join their agreement.
[30:52] This is Mr. Chris Wattley.
[30:55] Good evening.
[30:56] I'm Chris Wattley from the Oklahoma Municipal Retirement Fund.
[30:59] I put a folder at everybody's station so you should have this.
[31:03] I'm going to talk to you about the current condition of your retirement plan.
[31:08] And let you know that the city of Miami has been very, very diligent in how
[31:14] they are funding that retirement plan and it's put you in a very special position to
[31:19] where you have the ability to give your employees a benefit plan increase.
[31:25] On the right hand side of the folder this is just a little flyer that talks about us as a
[31:30] fund.
[31:31] I'm not really going to focus on this.
[31:33] The key thing I really want you to know from this is we the Oklahoma Municipal Retirement
[31:38] Fund are owned by you, the city of Miami, along with 240 other cities and towns around
[31:45] the state of Oklahoma.
[31:46] So we are that nonprofit government entity and we are basically an extension of you,
[31:53] the city of Miami.
[31:54] So where you have a parks trust or a public works trust or one of these other
[31:59] trusts you also have a retirement trust that you own with the other 240 cities and towns around
[32:07] the state of Oklahoma.
[32:08] So we are going to start though and look at the financials of your retirement plan and I'm going
[32:13] to focus on the left hand side on this top actuarial study.
[32:17] I am going to hit on the one underneath it real quick, but we are going to focus on the top
[32:23] actuarial study first off and I'm going to slip over to the third page that says exhibit
[32:31] two in the upper right hand corner and I want to kind of keep this open because we are going
[32:35] to refer back and forth to these two pages.
[32:42] So the current retirement plan that you have is called Plan Level CC and that is the column
[32:48] I'm going to focus on.
[32:50] Plan Level CC defines the plan level payout that your employees receive in return.
[33:00] It is 1.875% of pay per year of service that they receive from the retirement plan.
[33:10] So as of our snapshot day in time, July 1st of 2021, the plan owed $9.4 million to 99 retiree or retired employees.
[33:24] You also had 117 active employees at the plan owed $5.8 million to.
[33:30] So the total liability within the plan was actually $15.2 million.
[33:36] You actually had assets in the bank of $13 million, and that is actually a tremendous improvement.
[33:45] You all started or the city of Miami started with OMRF back in 2014,
[33:51] and when you came to our system, you were approximately 62% funded with your old plan.
[33:59] At this point in time, I am proud to report to you that you are now 86% funded.
[34:08] So that is a tremendous improvement in just the financial level of your retirement plan.
[34:17] So your unfunded liability currently stands at 2.1 million, and you will pay that off over time.
[34:24] It's scheduled that you'll pay off roughly $180,000 of principal and interest every year,
[34:31] plus your normal cost is $379,000.
[34:34] So the total annual cost that you put into the plan right now is $560,000.
[34:41] That is the required key term.
[34:45] That's the required amount that is supposed to go in.
[34:49] We'll notice on the left-hand side of the page here, on exhibit 1, the current plan level CC,
[34:57] the employees put in 3.75% of pay, and the required rate by the city is 7.44.
[35:08] Actually, the city is contributing 13.26% of pay.
[35:16] So you'll are contributing substantially more than what you are required,
[35:22] and so that is one of the reasons that your funded level has improved dramatically.
[35:29] Another reason your funded level has improved dramatically is whenever you have turnover of non vested employees,
[35:37] basically the dollars you put in on their behalf, stay in the pot, and their liability goes away because they're not vested.
[35:46] Another reason that the plan has improved is because the investment returns in the pot of money have actually been pretty outstanding.
[35:54] Question so far.
[36:00] from anybody. So the current fiscal condition of your retirement plan is very, very good.
[36:10] Now I want to come back to exhibit too and I want to focus on the potential for a plan improvement.
[36:17] Notice that if you did decide to go from plan level CC to plan level BB, it does increase the
[36:23] liability by $1.1 million. So the unfunded liability would rise from $2.1 to $3.3.
[36:33] Notice the assets in the bank have an increased. So the amount that you would have to pay in per year goes from
[36:45] from $560,000 to $734 and that's an increase of $97,000 of the amortized cost plus $76,000 of the normal cost.
[36:57] Back to the left-hand side of the page again, under plan level BB, the employees would be required to
[37:05] contribute $4.5%. So their cost would go up by $0.75 but notice the cities cost would go from $7.44 to $10.16
[37:18] and your currently contributing $13.26%. So this is a way that you can provide your employees with a
[37:29] bigger, better benefit and it actually doesn't cost you a single new dollar out of your pocket to do so.
[37:37] That's a pretty cool situation to be in. So why would you want to give this benefit and
[37:42] improvement to your employees to go from plan level CC to plan level BB represents a 20% increase in
[37:54] retirement benefit for no new dollars invested? So because your plan has been so diligently funded,
[38:07] we felt that it was prudent to come back to you and show you where you currently are and what you
[38:14] actually have the potential to do in your retirement plan. What questions may I answer for you?
[38:22] What's this plan that's fully funded? Yes, sir. So we're paying at $13.26% now. I mean that's what we're
[38:33] contributing now. Yes, sir. So as a city, pardon me. As a city you are contributing $13.26. So at some point
[38:42] I'd be fully funded. Yes, sir. And then so would we reduce that now to the 10.16% act going going forward?
[38:52] Yeah, actually if you come over to exhibit two and this little box here under the current
[39:00] When plant plan level, if your plan was fully funded, assets equal liabilities, the total
[39:06] cost would be 7.59.
[39:10] Of that 7.59 in the current plan, the employees would do 3.75, so the city would do
[39:17] roughly the other half of that.
[39:20] Under the plan level up, once that one is fully funded, the total cost would be 9.10 if
[39:27] assets equal liabilities.
[39:30] With the employees doing 4.5, again, roughly the city would do the other half of that.
[39:36] So the bottom line is yes, your costs will come down over time.
[39:41] And the reason that the 13.26% y'all have stated that is whenever you joined the OMRF
[39:47] system back in 2014, that was the cost that was determined at that time.
[39:54] But because the funding level, there have been positive things happen in terms of nonvested
[40:01] employee turnover, positive investment results, things like that, costs have steadily come
[40:07] down, but the city has said, wow, we're in a really good position here.
[40:12] Let's continue to stay at this 13.26 because this is what we're actually used to.
[40:19] So that is where y'all have always stayed, but yet your costs have come down steadily over time.
[40:25] And we looked at it actually earlier today.
[40:29] The cost went from 13.26 to 12.6 to 12.6, 12.3, 10.5, 10.6, 10.6, 10.6, 10.6, 10.6, 10.6,
[40:49] 10.5, 10.6, 10.6, 10.5, 10.5, 10.6, 10.6, 10.4, 10.4, 10.6, 10.6, 10.6, 10.6, 10.8, 10.6, 10.6, 10.6, 10.6, 10.6, 10.8, 10.8, 10.6, 10.8, 10.6, 10.8, 10.6, 10.6, 10.6, 10.6, 10.6.
[40:52] So it has steadily come down over time, and that's the profile we typically see within the retirement plans.
[41:05] Other positive things that can help your plan that happen kind of behind the scenes, we actually assume that your employees will get a pay raise every year.
[41:15] So if you flip over to exhibit 9, on the right hand side of the page, you can see the annual pay raise that we actually expect an employee to get for a given age of employee.
[41:35] Okay? So like me, I'm 55.
[41:40] It is the plan would expect that I would get a 4.58% pay raise this year.
[41:46] I would like you all to call our executive director and remind her of that.
[41:50] Okay? Because that's probably not going to happen.
[41:53] But the bottom line is when the pay raises are smaller than...
[42:00] what was expected, that's actually a tremendous benefit towards the retirement plan because
[42:06] now you're not paying out bigger dollars in the future in that retirement benefit.
[42:12] So, yes, sir?
[42:14] The 20% increase to the employee, would that be from a new hire to how many years?
[42:23] Actually, what would happen would be, we would go back to the beginning of when that employee
[42:30] started working for you.
[42:32] So, if I had come to work for you and say, 2010, and you chose to improve the plan today,
[42:41] that 20% increase in my benefit would go all the way back to 2010.
[42:47] The way that the benefit is calculated is it's based on years of service, times average
[42:52] pay, times a plan multiplier, and the plan multiplier you're considering tonight is 2.25%.
[43:02] So, going from 1.85 to 2.25.
[43:05] So, it would affect all of our employees the same.
[43:07] Yes, sir.
[43:08] All of the employees on the general service plan, we do not cover police or fire.
[43:13] Yes, sir.
[43:14] So, how did the employees feel about having another 75% taken out of their check?
[43:24] Very positive.
[43:25] I mean, we had an entire staff meeting, we were invited to the entire organization,
[43:30] to the gym over here, and we had a very detailed conversation about it, where I presented
[43:35] all the numbers and explained the pros and cons in the con, being that there's going to be
[43:39] an additional cost to them.
[43:41] The feedback was extremely positive.
[43:43] They all realize that that 20% at the point of retirement, you know, with what you can estimate
[43:49] being there for your social security, if you can't estimate that being there for your social
[43:53] security on the time of your retirement, it's necessary.
[43:56] And so, they absolutely buy large health positive, so we're not thinking about any more for
[44:03] the employees other than 1.75% that they have to add to it, and then we're going to be being
[44:14] planned.
[44:15] And over to the baby, right, to the 10.16, to really, with us paying that 13, whatever, that nearly
[44:22] gets affected, so that's all correct.
[44:24] And you just have to be the maturation of the plan where we're at, at this point in time,
[44:31] it just happens to be that all things and all the plan that's aligned, and it's perfectly
[44:36] our experience that we've had over the last few years led us to this point from the charity
[44:40] of the plan.
[44:41] And so this opportunity came up and we're going to take advantage of it.
[44:45] So we're going to have to take advantage of it.
[44:49] And Councilman, you see, my plan is if you'll choose to pass this tonight, I am actually
[44:56] going to stay here and meet with employees tomorrow as well.
[45:00] And if they would like to see a calculation of their new benefit, I'm going to offer that to them.
[45:06] Cool.
[45:07] Yeah, I just, I, as an employee, I'd want to know.
[45:11] So I'm glad you like, I'm going to say.
[45:13] Like most of them's going to draw 40% of their wages now after 20 years current.
[45:17] Actually, 20 years of service would be 45.
[45:20] So now they're going to draw 6570?
[45:23] Oh, no, sir.
[45:24] Yeah, I'm not going to change it.
[45:25] On, on the old plan level, every 10 years was worth 18 and 3.4% of pay.
[45:31] Okay.
[45:32] So 20 years would be worth 37.
[45:34] Okay.
[45:35] If you move up, it's going to go to 45% of pay.
[45:38] Okay.
[45:40] When would this take effect?
[45:42] Uh, I believe we did the documents for the first of the month.
[45:44] Is that correct?
[45:45] I don't know.
[45:46] I'm not sure.
[45:50] If I can't do this, tell me.
[45:52] The Indian police want to say something to us about this plan.
[45:55] How you feel about it?
[45:56] For you, right?
[45:58] Yes.
[45:59] Yes.
[46:00] Yes.
[46:01] Yes.
[46:02] Yes.
[46:04] You know what the plan is?
[46:06] We're a bit different.
[46:07] Is a BV just a happy BDM?
[46:09] Why don't we?
[46:10] Yeah.
[46:11] How is it going to say it?
[46:12] Yeah.
[46:13] So when we look at the way that we fund the plans and when we come back to you of what is an appropriate
[46:19] time, we're very conservative in this, the way that we do this.
[46:23] Okay.
[46:24] There are seven different plan payout levels.
[46:27] And plan level CC is actually at the middle.
[46:31] So BV is a step up.
[46:33] AA is a step up and then triple A is the highest.
[46:36] We believe that it is not fiscally responsible to bring to you a two plan level increase.
[46:43] Because I want to do one, we can see that this is a very affordable level right now.
[46:50] If I bring to you a two plan level increase,
[46:54] yeah, I just don't feel comfortable doing that.
[46:57] We do not feel that that is a responsible measure on our part.
[47:01] What we would rather say and because when you pass that plan improvement, it goes all the way back to that employees
[47:08] beginning of service.
[47:09] It gives you the ability to say let's make a plan improvement.
[47:13] Let's stick with that funding for a few years and see how it goes.
[47:17] Like you've been doing since 2014 and then go now we're ready to do another one.
[47:23] We do that next plan upgrade and it goes all the way back to the beginning of their service again.
[47:29] There has been one other improvement that you did.
[47:36] You used to have a 10 year vesting schedule and you lowered from a 10 year vesting to a seven year vesting.
[47:42] But that's the only plan improvement that you've done sir.
[48:00] So I guess here looking for a motion to approve this also move second
[48:14] All
[48:16] Materials the emergency calls for that one it's merge calls for it's 2020 to 16 for helpful municipal retirement fund
[48:22] Bit of it plan level. Don't create much to approve
[48:26] Second
[48:34] Thank you for your time. I greatly appreciate it. Thank you, Chris for all you do. Thank you. Thank you very much
[48:39] You'll you'll have a nice evening. You do love on the discussion on amending the alcohol beverage ordinance
[48:48] We're wanting to move that to the works that each session
[48:54] Better we're going to take an action
[48:56] 12
[48:59] Award of the six month contract and meeting amendments for the concrete materials C22-39
[49:05] concrete Sam C22-40 and I read rock C22-38. Let's say you're showing up for this one
[49:17] I'm sorry to approve
[49:19] Do you have any questions?
[49:21] I mean, we already have a second. I know I know but you know I got to make a
[49:27] effort or because I'm already probably a hot water
[49:32] So much we're gonna we're gonna increase your benefits
[49:38] I will I will not be here
[49:47] Just to approve that will go I don't want all you guys retire in on the second
[49:53] 13
[49:55] New business and maybe which is registered the posting this agenda
[49:59] for Merrick mayor and council community and mousements
[50:03] I didn't get to say it earlier, but man the Christmas parade was awesome the tree lighting ceremony was fantastic
[50:11] I did I tried to get
[50:14] I tried to get Tyler to throw in a
[50:17] Gris wall of family
[50:21] But he wouldn't do it, so but no great great turnout for both the tree lighting and that was
[50:27] a really cool thing the a little kid who got to light the tree was like
[50:32] His his his life's been made for that
[50:35] He was so excited about that. Yeah, he was fired up and it was good to see the community saw saw so many happy people just
[50:43] Be unhappy. That's good
[50:45] It was trying to be happy and trying to pass out candycains before he beat me to it. It's kind of rough for him
[50:51] So Cindy it came to us this year at the chamber and ask if we could separate the tree lighting from the parade
[50:57] Which we weren't sure what to anticipate
[51:00] Obviously, you have a built-in crowd there as the parade when you normally do it on the same night.
[51:06] But moving it to Friday actually worked out really well.
[51:09] It's going to be called the Fantastic.
[51:11] I think we have an opportunity to even do more next year.
[51:15] We've got Tyler, we're going to have to do our own PA system or something.
[51:20] They brought there, but it didn't work.
[51:23] So, but those kids that come and seeing from the junior high choir do an amazing job.
[51:29] And I think we ought to be able to hear better.
[51:31] So we'll tackle that next year and do something about the sound.
[51:35] But it went great.
[51:36] And thank you for everybody that does such an awesome job getting the treat.
[51:41] Getting up, getting the lift.
[51:42] Tyler and his crew.
[51:44] Utilities right away.
[51:45] They won't do a great job in the tree.
[51:47] Kevin, your team, public works.
[51:49] Going up and down, mainstream.
[51:51] Garland and the lights and everything just looked fantastic.
[51:54] One of the things that I heard is a recommendation at the tree lighting.
[51:57] Was it be cool if we could light the whole street up at the same time?
[52:01] Like, instead of just lighting the tree like everything that's been put out.
[52:06] Even if it's lit before we could light it all at the same time.
[52:08] I don't know what the logistics are behind that.
[52:10] But that would be cool too.
[52:12] And I've said it once and I'm going to start again.
[52:14] We need the balls back.
[52:16] We're working.
[52:17] We're actually guarding.
[52:18] We're actually guarding.
[52:19] All right.
[52:20] But then we have somebody to make it.
[52:21] And I think they're actually being made.
[52:22] You factored right now as we speak.
[52:23] Really?
[52:24] Yeah.
[52:25] That's awesome.
[52:26] Um.
[52:29] Probably be great.
[52:30] That'd be good.
[52:31] It doesn't have to be anything elaborate.
[52:32] Those kids do the same thing.
[52:34] Okay.
[52:35] So I'm on the same thing.
[52:38] The tree lighting and the Christmas parade.
[52:41] We're talking about the parade.
[52:42] Little bit of the tree lighting.
[52:45] People were coming up.
[52:46] They were out of their excited because a lot of people were in the parade.
[52:49] And they couldn't be in the tree lighting.
[52:51] Because they were lining up trying to get their spot.
[52:53] They like them being separated.
[52:54] I think it went well.
[52:55] Um.
[52:56] And a couple of trucks are serving hot chocolate and coffee.
[52:59] And the weather was perfect.
[53:01] It got cold enough that you could drink the hot chocolate.
[53:03] And Kevin was heading out to any games.
[53:06] Trying to beat you guys.
[53:08] But.
[53:09] But again, I'll also have with these guys.
[53:11] I said the smiles on the faces.
[53:13] The people who came up and said thank you.
[53:17] Um.
[53:18] Because people came in the house.
[53:19] And we're finally people are out doing stuff finally.
[53:22] Um.
[53:23] The parade was great.
[53:24] Um.
[53:25] Um.
[53:26] Um.
[53:27] Our guys were hard.
[53:28] Uh.
[53:29] Uh.
[53:30] Uh.
[53:31] Uh.
[53:32] One day that I went by and I were.
[53:33] I think it was.
[53:34] Uh.
[53:35] Uh.
[53:36] Your parks team.
[53:37] They were on the little sister left.
[53:38] Going down main and straighted up.
[53:39] And it's cold.
[53:40] The wind was blowing hard that day.
[53:41] So I went to chapter.
[53:42] I got them all cup of coffee and take it to them.
[53:44] And uh.
[53:45] But that was.
[53:46] That's what I hope.
[53:47] I hope that when people are community drive by.
[53:50] And they see those guys working.
[53:52] And they wrote down a window and say thank you.
[53:54] Great job.
[53:55] To.
[53:56] To energize those guys.
[53:57] Because I know they don't always get it.
[53:58] Sometimes we get the negative.
[54:00] We miss everybody misses the positive of what just happened
[54:03] So
[54:04] But it was great. It was great weekend
[54:06] I'm all around and then yesterday
[54:09] I was telling Bo I got invited to the Strider's Christmas party
[54:13] Wouldn't really sure why
[54:15] But I showed up and one of the strider's can learn. What are you doing here?
[54:21] No really
[54:23] So he's like so
[54:25] How did you know to come?
[54:27] That's why I got letter them now
[54:29] Said you guys are doing this and I was invited but I don't know why or so I didn't ask G to have you dream here
[54:34] He walked by because he's on a sit and letter and I said
[54:38] What?
[54:39] Why did I get this letter? I'm not supposed to be here?
[54:41] He said well, yeah, you're the mayor
[54:44] That's okay. I just want to make sure he said he said everybody's surprised because we've invited every mayor
[54:48] You're the only one that showed up
[54:52] But it was really cool the stuff they do for those kids amazing amazing stories for those kids
[54:58] And those are business men and our community that's been there time this time of year making sure those kids have a good Christmas
[55:04] So I saw so much Christmas spirit this weekend
[55:07] I'm ready for Christmas so
[55:09] Talk next year we can put him on a boat
[55:14] You would have to be a bigger boat than what they were in I promise
[55:20] I'll be stuck in that boat. I'll be wearing it all year
[55:23] Brace
[55:26] Anybody else have you?
[55:30] Yes, I just mentioned
[55:33] Thank you
[55:35] Saturday
[55:39] I think it was always out of the parade
[55:41] Well, because of the schedule and conflict
[55:44] So
[55:48] So the road and pancake V to be this Saturday along with our holiday market
[55:53] Here at the six o'clock in the evening starts at seven right
[55:57] seven
[56:02] 15 so you made it in education
[56:05] So I wanted to announce that our library is doing a really cool thing this year and that is they have set up a mailbox to the North Pole at the library
[56:14] The children section and any children that want to bring a letter to the library they can drop it in the mailbox
[56:22] And they will get a reply from the North Pole back at the library and they'll be
[56:27] Answering it on Facebook when the letters come back
[56:30] So that the kids can go back and pick up
[56:33] Letter from the North Pole and they will be accepting those
[56:38] 5th to the 16th of this month
[56:42] So get the word out and they've already put out and the announcement on Facebook
[56:45] But I really need to be able to start doing
[56:49] More Christmas spirit
[56:52] Sonia
[56:53] Did you buy brand? Yes, or did I'm not sure what exactly I was but she does a great job. She has a lot of good ideas
[56:59] She does
[57:01] Okay, so that would be 16 adjournments. So move. Second.
[57:12] Now I'll call the order.