okay we'll go ahead and get this may st meeting of the finance committee started roll call we're all present so staff do you want to walk us through what you're going to be talking about today yes thank you bob s director so we have two items one budget and one unrelated to budget the first item on the agenda is the venturi of village apartments and that will be covered by miss laura doubles use our housing and human services manager so i'll turn it over to the  good afternoon chair dominguez and committeeman members friedman and harmon i'm laura doubles and i'm the housing and human services manager and i'm here today to request a refinance and subordination of an affordable housing development known as rancheria village apartments eight two bedroom units five three bedroom units and one four bedroom unit and ninety four when read it redevelopment still existed funds were used to finance a five hundred and sixty thousand dollar loan to help with the development of this project the terms were for thirty years at four  percent with residual receipts for payments residual receipts payments are very commonly used to facilitate an affordable housing development and allows the borrower to make payments only if there is any excess after all operating expenses including fees and debit services is covered other often times that does not occur until way later in the loan term due to the residual receipt structure the balance continued to grow from the interest and in two thousand and fourteen the owners requested to refinance the loan with new terms in order to secure additional financing from montecito bank and trust for six hundred and twenty three required amortized payments for thirty years to use the funds for more affordable housing projects our current financing structure is that first the first mortgage is held by montecito bank and trust for and the balance right now is roughly around five hundred and ninety five thousand our second loan which is  from the rda funding our city loan the current balance as of may th is nine hundred and eighty nine thousand three hundred and eighty eight dollars so the total debt on the property is one million five hundred and eighty four three  the proposed financing would be that the first mortgage would be from honest tito bank and trust at two eight million and then the restated city loan would be at five hundred and sixty thousand for a total of three point four three million three hundred and sixty thousand the appraised value which was ran with a rehabilitation that's proposed and the increased section eight contract rents that are hopefully going to be  increased was it came in at five million one hundred and thirteen thousand which was a loan to value ratio of sixty five percent and that's well under our maximum loan to value of eighty percent a question here please so the the first mortgage is currently the principal is five hundred ninety five thousand and so they want to add another two point eight million dollar loan or that would include the the six hundred thousand that would include the six hundred thousand so they're going to be getting a payment from mb and t of about two two million no they're taking out a two eight million dollar loan from nbn t yeah which would also pay that the six hundred and twenty three zero so the bank's writing them a check for two two million dollars basically after a reason so what are they going to do with that two million dollars so okay the the total fees with escrow title loan origination docs is about fifty eight thousand the payoff of the existing loan is about five hundred ninety five thousand  less the city crude interest which is what they are going to give us a lump sum payment for which is right about four hundred and thirty thousand and then there will be a cash payment to the exiting partner  of about four hundred and sixteen thousand and a cash out net of about one three million and i'll be covering that a little bit more as we go along and  which parts will you be covering all three of those amounts i will be covering the lump sum payment of the city accrued interest as well as the change in partnership structure okay so that third amount the one point was at one point three million where will that money end up share to each partner is estimated at four hundred and thirty seven so there's three partners who will receive that one point three yes and what are those partners doing with it money frank thompson is here today as the managing partner of this if you'd like to ask him we can bring him up mister chair yeah they're basically cashing out some of the partners in and they're borrowing money to do so from our perspective that's okay as long as the loan to value is still there and there's enough equity so our primary consideration was what's the loan to value here and is that within our parameters and the answer is yes and so the cash now and how they be used those monies and for what purpose is more their business and then what we might be concerned about but still a good question that we asked the same question ourselves okay so at what i was trying to find out was any of this money people usually refi and then put some of the money into construction to rebuild a home or rehab a home so none of this is going into rehabbing the facility i am getting to that okay it's two hundred and fifteen thousand that will be going back into improvements on the property okay and the dupre's value this five million one hundred and thirteen what was the appraisal process like how sure are we that that's an accurate number it was a certified appraiser that montecito bank and trust hired to perform that appraisal okay great thank you so here it's a little bit about our lump sum payment we know that as of five hundred and ten well because of the balance on the loan we're looking at four hundred and twenty nine thousand three hundred and eighty eight dollars coming back and that is actually the accrued interest on that original already a loan that we they are going to be paying us back the interest and then we are going to be refinancing that five hundred and sixty thousand dollars that we originally put into the project at four point five percent and now amortized over fourteen years instead of the thirty and then you can see on the screen the breakdown of the payments the lower payment is  made in the first seven years because they are looking to hopefully apply for low income housing tax credits at that time so  anyways the first series of payments for the first seven years is at a lower amount because they are looking to try to apply for low income housing tax credits and  then we have negotiated the other the last seven years to fully amortise the loan with one balloon payment at the end due on june st two thousand and thirty of eight thousand five hundred and thirty three dollars and eighty seven cents and that's an estimated figure but it will be really close to that bank is for thirty years it has three periods of ten years each the first period is a five percent fixed rate assuming that no default occurs the second period we'll then adjust to the current ten year treasury rate plus two point two five percent that's of course with assuming no default occurs and then the third period it adjust again to the current been current ten years treasury rate plus two twenty five percent and again with no default occurring so there are proposing a change in partnerships for this loan the current bar borrower is mariana ranch associates lp which that was the name of the partnership previously as well they are going to be doing an assignment so that they can remove the riverside charitable corporation partner and then they will be adding chance and sba chasey to that partnership the two hundred and fifteen thousand dollars in property improvements will include new a new roof with termite damage repair two new parking lot gates new building paint trim upgrades to kitchen and flooring ventilation and appliances and from what i understand i believe most of those have already been completed owners they will get the payments with a lower payment for the first seven years to accommodate their application for low income housing tax credits and they will also get the funding they need to pay off their partner that is wishing to exit the partnership and for the new partner chance that's entering and they will be have the funding to perform the rehabilitation needed for the property as far as city benefits this will be no cost to the city we will actually get a lump sum payment of to four hundred and fifty thousand which as of may th it looks like it'll be four hundred and twenty nine thousand three hundred and eighty eight dollars in accrued interest and then the loan term is actually going to be shortened so that we can recycle that funding into other affordable housing projects and then this also helps us to maintain essential housing program  so staff recommendation is for you to recommend to council approval of reap the restated basically refinance loan and deed of trust and subordination to montecito bank and trust lo any questions does this new refinancing extend the covenant or was it already into twenty sixty nine so because in two thousand and fourteen we already extended covenant two thousand and sixty nine we left that alone we kept that at two thousand and sixty nine still know is that as far as we can extend it we could extend it more we can go up to ninety years it was it was extended at that point fifty five years but we can't extend it if what would that do to to this project i or this proposal cuz i think the longer period we can have those affordability locked up i think it's better for the community but i don't know if that would change the financing here or the request here but no not at all we can't we can go up to ninety years if you i'd like to see that if to see that take place it's because it'll when it gets here it could be gone we might not have another opportunity to do it or is it the only opportunities we have or during these types of refinancing or is there other opportunities later no it's during these times and i believe that the reason for that was because at the time that they extended it in two thousand and fourteen there was i believe an error in that covenant and so it took a while to get that actual put in place so they kind wanted to just leave that alone but it is an option to extend it for sure i would like to extend to maximum extent that we could just feedback on that as is my preference and then the other  i'm sorry go ahead the other question i had is on the four hundred and fifty zero lump sum payment that comes back to the city and do we have a special fund that we're placing the eds into for affordable housing projects or is a general fund or where does that go yeah it goes back into our affordable housing fun and that would be rate regulated to be put towards affordable housing development and future thank  you regarding our loan so we're going to receive a check for some of the interest payments and in terms of the principal what would it look like if we also cashed out like these other partners would we be able to put that money into the same fund the affordable housing fund so you're saying that the cash out that is going to be paid to the partners would come our way like a share of it because it looks like the the loan was originally expected to expire in two thousand and twenty four so if we were to just akin you to continue along that path we would be paid out in two thousand and twenty four is that correct that is correct so the only thing that we would be able to recoup at this point would be the original five hundred and sixty zero right so it wouldn't be the full amount that the partners are getting but that is the applicant request is to have that cash out and for us to go to the original five hundred sixty thousand still carry that loan right and to still have it ended two thousand and twenty four no that's what i want to take our money out of the system and have it available for other affordable housing projects okay the same reason they're pulling their capital out i understand it's different in that they were partners and ours is alone but to all intents and purposes we still have half a million sitting there that would have been tied up till two thousand and twenty four so now we're getting the interest out but not the principal and we'll get the principal and interest back and what was the year two thousand and thirty three two thousand and thirty three so that's nine years or if we took the money out now fourteen years we could have that money available and we're in a tight housing situation now so anything we can do to free up these funds to me would be preferable just you know that's something we can look at it would change the whole economics of the project i'm sure we'd have to negotiate that getting the cash up front versus having it paid overtime that's that's that definitely an option i'm assuming that the reason that was structured that way because it made sense for the project that to cash out that kind of money for that's really impacting existing partners remaining partners and an ongoing basis the financing of that project but maybe one of the mister mister todd's can speak to that but i would just that would be one of the things i would could that comes to mind for me at least right absolutely i'd want to know more in terms of our entire portfolio it seems like our real estate has recovered to a large degree since two thousand and six so you can never predict the future and know whether it's going to keep going up or if it's to flatten out or drop but it seems like if we had a chance now the the worry is this loan to value sixty five percent now but if we do enter into a recession and this drops that loan devalue could become one hundred percent it could become greater than that which would not only potentially lock up our funds but also create problems in terms of keeping this property rehabbed and renovated so those are my concerns and i think the status quo is would be even worse the status quo would be the term would be  longer we may not get accrued interest and the principal wouldn't be paid for even longer period of time so this is better than just leaving it alone and having no project and no extension you know as it was before so this is an approval for sure twenty four ten twenty nine thousand up front and then a shorter period return getting that principal is certainly better than what it was in you know previous to this deal question thank you yeah just a comment i really appreciate chair dominguez your interest and moving forward affordable housing projects i would say with regard to this loan in particular i am supportive of this move i think it it is an affordable housing development we need to be wary of undermining developments that we already have to create new developments so yeah that's that's kind of where i'm at i think the the interest payment that we'll be getting in june is that coming when is that coming for this mm hmm oh once the four hundred yeah once this goes to council for final approval then that transaction would happen and whenever montecito bank and trust actually funds their loan is when all of that would come to fruition okay thank you just to clarify on the points that chair dominguez raised and i think you said that if we don't do this or if we if we cash it out then we would only get the principal which is five sixty but if we go through with this plan we're getting four twenty nine of interest and then eventually we would get the five sixty at the end so the the delta i guess is only about a hundred and twenty thousand it's not five sixty correct no see the the loan that we currently have is already up to almost a million dollars that's with the interest that was accumulated over that many years so the five sixty was the original bounce that we put in the funds that we put in from da funds all the extra was from accrued interest basically so what this deal is is basically we would get a lump sum for all of that accrued interest and then we would be taking that principal balance and just refinancing that okay thank you yeah the the line of question you threw me off of it that's how i understand it so we get the four hundred and twenty nine now yes instead of fifteen twenty years down the line right at the end correct and it's five years down the light incident two thousand and twenty four under the current loan doc's yes i believe so so it's either getting around a million in five years under the current status quo or it's getting about half of that now and a refinanced in two thousand and fourteen and it was put on an amortized payment for thirty years at that point so it's two thousand and forty for that we're looking to have that paid off in the intervening twenty five years there wouldn't be any payments i'm sorry what was the question so between now and twenty forty four there wouldn't be any interest payments or principal payments on the original five hundred and sixty thousand no there is it's an amortized loan okay for thirty years four point five percent sorry i don't mean to beat this dead horse but we'll be receiving the accrued if we go through with this deal will be receiving the accrued interest once it goes through and then this refi we will also be accr interest on this new loan so we will ultimately make more money with this deal is that i mean the interest will continue to accrue on that five sixty over the next however many years the term of this loan is fourteen correct okay connect assistant city attorney if i could just make one point on that too with regard to the accrued interest that we have scheduled the loan over fourteen years and it resets at at seven years so we get we'll be getting i think forty three hundred something like that the first seven years and then after that it'll increase so that because the risk in terms of the montecito bank and trust loan we think increases at that point and what is what does that mean exactly fully amortized in fourteen years the entire balance due which is five five sixty plus the accrued interest at four point five  off there maybe a balloon payment of about six thousand at the end eight thousand five hundred at the end which we picked up okay yeah and one point i also wanted to make is that the condition of the property right now needs rehabilitation and so we feel that it's very important that that the units be rehabilitated and in that way they will qualify to increase their section eight contract rents through the housing authority without the rehabilitation they may not be able to do that plus they've improved their management so that they're more in line with the hud regulations which requires that that the occupancy of each unit be set to a certain number and in the past they they weren't kind of keeping up with those hud requirements so now with the montecito bank and trust loan in place the rehabilitation they've undergone a management change we believe they'll be able to increase those rents rehabilitate the property which will increase the value overall so we're also you know taking that into account so what's the financing that you have in line for the reconstruction it's that what we're requiring in the loan is the two hundred and fifteen zero and that's the amount that's been used to pay for the roof roofs termites renovation scheduled for the next ten or fifteen years that shows the cost that we'll need to bear we have not well that they will need to bear we have not seen that so mister thompson would probably be a good one to answer that what their overall plan is with regard to the property they're bringing in a new partner which is an entity that is new to us called chance and they provide housing to disabled individuals that need caregivers so it's kind of an interesting  opportunity for them as well we think i don't know if there's anyone here from chance today but mister thompson do you want to come address some of the issues we've talked about please thank you thank you so i'll be brief i i think you've done a good job of doing the math on the fly there which is the the staff report shows the built budget in categories but people today have a transactional approach say well how much new money came in what are we paying how much money's leftover and so i think he followed that very well the two hundred and fifteen zero is a result of a professional analysis of the property that was done called a physical needs analysis they that was a company that had to be approved by montecito bank and trust and also is approved by the california tax credit committee so part of this transfer has a parallel process in sacramento and that was their question show us the report show us exactly how much it cost to do the work that needs to be done and then let's see the money to do it the second thing was that they are interested in budgeting for the replacements over the remaining term of their control which is thirty years they come to inspect the property each three years now tax credit projects in their first fifteen years are inspected every year but after the compliance period which this one is than their every three years so and laura's absolutely correct we would not get this loan at all without the city five hundred and sixty zero remaining in the project because montecito wants to classify this as an affordable  housing loan they wouldn't do it otherwise and there has to be city money in the project there has to be city involvement in the project for that to occur so i think all the parties have the same objective here a couple of things our partner riverside charitable corporation has actually done quite a few projects here in santa barbara and their twin is the community housing assistance program that dates back to projects in the s those projects in the s are now needing to be refinanced and improved so there have been other ones that have been here already with them but in any event we wanted to bring in a local nonprofit chance which is a service nonprofit to join us as a general partner here build their capacity and provide a certain number of units not all the units in the project on turnover as you can imagine these fourteen units close to the beach in city college have virtually no turnover we have probably half the tenants are original and that they moved in with young children those children have grown up and brought grandkids into the household that's that's how important this  was one of the large family projects that included not just three bedroom units but a four bedroom unit this was kids central when they first lived there now it's not and so what we're trying to do is recycle it for an essential purpose with chance and i just didn't think you would need him here today because i thought we'd be talking about numbers only as far as it goes i also have a partner bob and i are the youngsters i had a partner who put up the financial guarantees for the construction of this project and all the first years of operation named peter couch many people know him he was the president of the summer solstice one year so he's quite a fellow and he got no compensation and he reminds us now that he turned eighty one that it's time for him to get something out of this project you know when you go to a business and there's a dollar bill up on the wall yeah he didn't get his first dollar bill yet so it's important to us to make sure that he gets that and that's it bob he can speak for himself about what what will happen with his share of the funds but i can tell you i've borrowed money to more committed to affordable housing in the central coast and in santa barbara one question yeah just the one question on the affordability extension of ninety years that doesn't affect the financing and that would be well it won't you wanna but the appraisal was done by one of our best appraisers here in santa barbara taken about four months and he's done other affordable housing projects but in an event this was a was appraised by discount of net operating income supportive of the project and the ninety year all right anything else what is the nature of chances investment here how are they buying in good good question so chance is a contractor with the tri counties regional center and tri counties provides i would guess about eighty percent maybe ninety percent of the annual budget for chance which is about a three fte agency they provide services to i believe about three hundred and forty families with developmental disabilities per year which is mostly about housing counseling and helping those families not be homeless when they need to move around  in very very tight housing market that we've got so they really provide just in time service on housing and then also long term planning for housing they work very closely with both of the housing authorities and tri counties and all sorts of other funding sources to come up with deposits moving expenses emergency utility so that's the nature of their involvement where do they get their money they have i believe around a hundred and fifty thousand net worth they have about thirty five thousand in free cash i'm sorry but i mean that is what we evaluated so we're not making them the partner they there's a junior partner bob and i will be making the guarantees if everybody got up and moved out one day we'll get together to put the money together to make the city loan payments which we think will not happen and so but we're not depending on them to do that as it turns out though bob and peter and i will make a grant to chance for four hundred thousand and chance is actually paying riverside four hundred and sixteen thousand for the departure you  i think so but what i think i'd like to do in the interest of time is if you can forward us a summary of what you've just described because it seems like there's several moving parts that aren't in our documentation here i don't want to say that i think your staff has done an excellent job they have absolutely no they have because they identif you that there was the money to riverside but the exact mechanism that gets there is not that the partnership pays riverside it is that the partnership the owners of the partnership make a charitable contribution to chance and then chance uses that to retire the riverside share is that just a tax avoidance it's that but it also builds chances balance sheet if we just paid off riverside and admitted chance for two dollars that does not help their balance sheet at all it wouldn't help their balance sheets because they wouldn't show up as a certain percentage partner correct cuz i don't think it really matters how much they pay it's how much they show in terms of equity more receipts on an ongoing basis i mean for some purposes but not all purposes okay yeah again so i'm comfortable with what you've presented so far but if you can get the committee a  copy i think it would it would just increase our level of comfort up here sure we're not accountants but at least a couple of us are lawyers and have done transactional work so we just want to make sure you know the devils and the details we all love this concept but we just want to make sure in the interest of time maybe just to have a quick clarifying question for my comments i'm trying to understand our role here it's not really to get into the weeds on the specifics of the deal i understand you know i'm a transactional lawyer so i'm interested but that's not why i'm here today is to i'm not the city's lawyer today um so i'm not sure that it's relevant for us that we understand those mechanics the loan has already been made the bank has already costed this loan and so for that reason though i am some of these materials between now and then i doubt it's going to change the outcome so at this point unless there's other questions i'll open it up for a public comment i have one slip but i don't think it's on this issue nope okay so  close public comment and did you want to make a copy just note that this is going to be coming to council in two weeks our intention was that it be on a consent a consent item so that's kind of the plan for now but we've been looking for your recommendation for sure  with the ninety year extension on the covenant and just so i'm clear in terms of the ninety year that's what's in the staff presentation or did you want to alter loan closing yeah so it would just be a new document an amendment to the covenant which is no problem we can bring that to you because this this whole transaction needs to go to counsel in in the form of an ordinance approval because the okay do we have a second okay any other discussion all those in favor aye aye that passes unanimously thank you very much okay well mister bill dead is getting the powerpoint ready to go just we're here to talk about budget so this is the last day where we're having discussions with the finance committee and we're looking for recommendations all and all the things that we brought to you over the last several weeks of the things that is the last thing for you to consider today along with requests from outside organizations is what we call staff recommended adjustments and this is very typical where we you file a budget in april we have some changes based on you information april rd i'm just gonna start him get into them so the first adjustment was included in your staff report and this is the only general fund adjustment however this was an addition for a don't make a recommendation on this particular one today if we do decide to move forward we would definitely bring this back to you for consideration so the next two are actually two projects citywide projects in our information technology one being the website content management system in two thousand and twenty one half of the funding for this has already secured in the recommended budget in this general fund this is the other half that's being allocated out to the special and enterprise funds it we just didn't make this into the budget as far as how we would appropriate exactly how it would be appropriated to the specific funds but this is the remaining house so this is the two thousand and twenty one portion i'm showing here for the website content and the other project would be the relationship management project and this would be for fy twenty four this one moving on we have the airport department so they're adding two positions and they included this in their presentation the full counsel and kind of gave you a background as to how they came to these decision to include these positions and  dollars to the homeless camp abatement and specifically this is related to work in the parks library has some adjustments in their county library fund  contributing a little bit extra and the friends of the library are decreasing their contribution so the net is what's being shown there so that's some extra revenue there and last the public works department has a  couple the fleet management fund has a compressor generator approbation that they're adding for two of those that's just due to emission mandates that they need them and the measure a fund is decreasing their work order revenue they actually no longer have engineers that are billable positions and that fund that they've been moved to different funds so we're removing the billable revenue portion out of that fund and that concludes it for or is that per year that is just the single year for twenty and so what happens in two thousand and twenty one it's only a one year one time start up exactly okay perfect yeah okay and is this a separate item from the outside do you want to do public comment and a vote on this one first or i don't think we need to do that we'll move on to the next slide okay so these are the requests from outside organizations you've heard from most of them the one that you did not get a chance to hear from last week was the santa barbara culinary experience so i would suggest letting them speak and then we had one request that you all got a copy of from whom is cathy king she is representing earth day and she had a request for additional funding and so you might want to give her some time as well and then once you once they're done and we'll have some our own comments and then move on to looking for recommendations okay great come on up to the  barbara culinary experience the santa barbara culinary experience it will shine a bright light on why julia child chose to live on the american riviera and when is that one of only two events in the world that will be endorsed by the julia child foundation bottom line our goal is to an each year in march increase hotel fancy increase restaurant bookings beverage and artisan sales and increased activity and broad range across public and private spaces throughout the city but also to increase domestic and international awareness of santa barbara is a world class culinary destination i sent you some emails this morning mature if you had a chance to review but that gives a much greater comprehensive details on that my intention is only to speak about three minutes as i'd like to have you have a number of time to mount of time to question for me our request is that the city council be founding sponsor or the santa barbara culinary experience for fifty thousand dollars let me share two milestones with you first august fifteen two thousand nineteen which is less than ninety days away and it was julia's birthday  july august fifteen two thousand and nine teen would be our th birthday we're having an event at the montecito club and we are going to bri bringing media across america both in california but across america to come spend two days in santa barbara to review all the culinary attributes that santa barbara has in a way to hopefully have them understand the riches of santa barbara but also to be able to announce the march twenty twenty events the second big milestone i march th through th two thousand and twenty event called the santa barbara culinary experience it's going to be including all the restaurants hotels we've been meeting with the hospitality board we've met with visit santa barbara we have mis with the mayor and we have a advisory committee and an honorary committee that is committed to making this a very big event that will have a huge impact on the economics of the santa barbara region the event in march of th through th we will also be providing a number of signature events including welcome reception dinners local artisan market key panels held throughout the city we will be having each of the restaurants and hotels have programming about julia and julia teamed themed events and our tension is that in our second year we will go from thousands of people attending several thousand to five to ten thousand people attending about seventy percent of the people will be from the outside of santa barbara but we also be doing programming to help and engage local community at a very varying range of price points so i'd love to answer any questions you have in summary we hope the council we support of being the only city other than washington dc to have a major event that includes the involvement and endorsement of the jewish child foundation questions you mentioned the the montecito club has the county funded this project no okay no the no one has funded this project yet the jewish child foundations is funded this project so our intention is we're gonna be spending over five hundred and thirty five thousand dollars in the next twelve months producing this event and so the fifty thousand dollars that we're asking from the city council is less than ten percent of the amount that we're gonna be spending i'm creating an event that can over time make a big huge sustainable annual event that helps and brings all members of the santa barbara community up together okay have you gone through the events committee funder house we've  twenty thousand dollars and our belief is that we really would do much better and we accelerate success in your one if we got fifty thousand dollars okay thank you very much next we'll hear from cathy king from community environmental council representing earth day i think i've and members of the committee thank you so much for fitting us in today this has long been on our wish list and we just didn't know how to navigate this process so i really appreciate all your help with getting us here we're very grateful that the city currently supports the earth day festival at a ten thousand dollar or sponsorship level and we are also well aware that this is much lower than the other major festivals in town and we do consider ourselves to be on a par with those other festivals we have large groups from places like gm and toyota that are sponsors that bring in groups to work the festival and they also come from out of town and so they stay here so we do we don't know what the t ot numbers are but we do know that we have that there is some benefit to the city and that we also have been watching the city's fees that we pay go up on an annual basis and currently what we are paying out to the city in terms of fees police present site rentals the city's booth that we put together as part of the sponsorship exceed the ten thousand dollars sponsorship by almost fifteen thousand dollars so i know that the request is listed as fifty zero but really we would be happy to cover costs this isn't a fundraiser for cec this is our gift to the community it's we structure it as community outreach and we are really just looking to recoup costs and we have we assume all the risk and we have set up three revenue streams that generally help us do that sponsorship registration fees and concessions and a year like this made us realize that concessions can be tricky when the weather is what it was for most of the month of april so we definitely didn't achieve as high of a level as we have in the past and as we had hoped for this year mostly due to the weather because you know we don't go in fully covered until we cover all across with the concession side of it we are also a very eco friendly event not only in what we outreach to the community in terms of the education but in terms of the infrastructure that we set up i believe we're the only major event that has a company hands sort all the waste so there is a landfill diversion benefit to it and also just an educational opportunity to show the community that we are taking care of all of the waste in a responsible way next year is the th anniversary of earth day itself it was a concept that came out of the one thousand nine hundred and sixty nine oil spill as was cec so we will also be celebrating fifty years next year so i there's no better time for the city to have a stronger and more beneficial presence then next year so i think this is great timing i think that we will we always see a decent amount of press outside the region but i think with the th anniversary we will we will amplify that next year and we would love to see the city as a more major partner so thank you very much thank you and is this something you see as an ongoing request or is this a one time thing because of the th anniversary five thousand four hundred and fifty well at the fifty level certainly but we would definitely like to be able to cover the cost that we put out to the city on an annual basis and i'm guessing because you just submitted you didn't go to the event committee either to seek funding no we've been a line item in a strange portion of the budget for a few years and so we were just trying to go in the same trajectory that we were on okay thank you thanks  good afternoon i'm maggie moss tucker and um i am just here along with a few committee members of the group that put has proposed not a van gogh exhibit marketing but a three month celebration multi generational city wide so i just want to clarify that three months multi generational city wide but i also decided to just a quick sidebar in the letter that you received and we hope you got the second one as well from h schneider my husband was the one who curated the monet exhibition in boston that year he was given the most prestigious highest award by the bureau of tourism because it did more economic impact than the red sox that year so i share that with you because we believe that this will have an enormous impact economically and i'm talking to the finance committee for the city so we hope you'll support it but we are here to say if you have any questions what are the red sox any other questions okay robin one more speaker in finance committee and city staff thank you so much for considering the cool block proposal today i wanted to point out that the cool block at its heart is a community engagement strategy that can support and enhance many of the city's existing programs as well as the greater goals of the city and can also grow and change over time for example it  as a conduit to our citizens and our residents to build and support and work alongside the fire department in our cert teams it can build our diverse city lit leaders for city commission's committees and support the neighborhood outreaches work it can also support with community policing goals disaster resiliency and the overarching environmental strategies that the city is working on the program is fully customizable based on the needs of the city and its departments and the goals of the staff involved thank you again for considering the proposal and i'm here to answer any questions you may have just just some context your if you're familiar with the where we're at from a balancing perspective and all that so all these are represent additional monies that we'd have to find but i will speak make a few comments on each of them downtown santa barbara's request for an economic development director fifty thousand dollars you know we have a cosmetic osment study is coming up in the next month or two not sure what they're gonna recommend but they may recommend that the city have its own economic development manager position so maybe the timing of this request is a little through at least have some oversight from the arts advisory committee it is she was not suggesting that we're to go through a competitive process which is how well those sort of monies are allocated through a competitive process but just that did you have some oversight so there's more accountability that but it is extra money i'm not even sure that they would qualify into those pots of money because there's no nonprofit organization or nor is that in the first year lease there's no way event it's just marketing and then i'm gonna have mister matt for speak to the cool block program he's been working with us more close than anybody here and i think he has some due diligence speaking to other cities paloalto was one of the ones that we spoke to quite a bit primarily for two reasons one is because coolbox began and sort of had its genesis in the bay area but also chief eric nickel our new fire chief came from palo alto so to the extent that this has a nexus to resiliency and those sorts of things we want to do understand them the cool blocks program from my understanding and from what i've learned has three primary components to it the first is sustainability and what you know the wait staff looked at it was to what extent does the city have existing programs or initiative in place and this all has to do with you know finite funds and bandwidth of staff  pretty lean organization as you're aware so the you know from a sustainability standpoint staffs perspective is that the direction you've already given us in relation to the strategic energy plan for example this big work plan that we're putting together to get to a hundred percent renewable electricity by two thousand and thirty is a big lift it's a big lift financially it's a big lift with staff time so i'll leave it to you to weigh where you want to put that funding but certainly the strategic energy plan is going to have a financial component to it and we're gonna have to put you know some fairly substantial dollars toward implementing your council goal the second is resiliency there is a piece of resili in speaking to chief nickel he said no we're all for resiliency especially here on the south coast our primary our preference in the primary vehicle by which we accomplish that is through these community emergency response teams this cert program it's run out of the city oes department its bilingual we have the cert program as well as lease dos which you've seen of late certainly through the thomas fire and the chiefs concern was either duplicative messaging or or counter message you know encounter messaging or at least dilution of effort right so his his preference is certainly let's put the focus in on the cert programs and and keep it there and keep building that robust program as the primary vehicle the third item is really connected neighbors connected neighborliness this is one of the areas that came up in our due diligence calls with palo alto with los angeles and with san francisco the premise that connected neighbors those that are connected that know each other do yield more livable safer you know more enjoyable communities that seem to bear out across the board so i'd kind of leave it to you as to what you're looking for if it's environmental i don't think staff really supports it if its resiliency the fire chief would rather have it in the cert program if its connectedness there may be an ability to tailor a program to that as you're aware with any new initiative or if with any new employee the first year is really tailoring curriculum you put a lot into it and so if you know we probably won't see the real big outcomes until the out and i think that's the reason for the multi year three hundred and twenty something thousand dollar request in total but i can answer any questions if you have them thank you mister for that was that was enlightening i think one of the comments king about waste diversion so it was successful earth day doing waste diversion for that one group but what about the other three hundred and sixty days a year i think this is something that might allow our communities to really dig in deep if because like you said our goals are lofty for sustainability for the city we're gonna need a humanities component to go along with the science and economics i think it's it's worth considering any other questions for mister four thank you very much and then i'm gonna have miss laura doubles come up and speak to laura doubles i'm the housing and human services manager i was here to talk to you today about the housing trust fund request staff believes that this is a really good program  it has a very good concept of helping first time homebuyers and we've bought that our understanding for the funding that we had the first time around which was two years ago was that it was a one time request apparently that has not been the case as that they've come forward again but they do have some reasonings behind that that created the issue for them requesting a second time the other thing that staff just wants to make you all aware of is that we have just found that there is no guarantee that the loans will be for homes here in the city of santa barbara so they are financing homes within a south coast region we are a part of that and it definitely does help our work force especially you know giving employees an opportunity to buy it made it just not be here in the city of santa barbara thank dollars that is a line item they don't have to request it every year it's an ongoing automatic unless there's a change to that so they have the same status not magnitude wise but same status is all spanish stays semana nautica x so forth so that's really in terms of our comments looking we can look to you now for your liberation recommendations on each of these items which ones you like to recommend to council or not you can do them individually or as a group so i'm open to suggest how to proceed i think my default value would just be going to go one one to five and maybe just do a vote up or down and then at the end wrap it up in a motion if everyone's comfortable with the results and if anyone wants to discuss i think in general these are all great programs and i think for ones that we don't fund we're going to push to get them to sources that might be able to provide funding whether it's a different city budget the event committee housing or the arts fund but i think that's one way to proceed okay so we'll just start with downtown santa barbara's request for a director do you want a comment or just vote okay no no  no okay museum of art van gogh no on this one i'm i'm actually i just want to make a preference on this i don't want process to be an end around this happened at the county on this one i've gone back and forth on it it's only for the twenty thousand for the first year and my reasoning for supporting it's an extraordinary circumstance in that this part of town the businesses have been really affected in particular by the construction at the museum and in library plaza and this is a one time event international and significant that will tie into not only the museum's reopening but if we can get everything lined up it would also be the unveiling of our own city infrastructure at the library plaza so there is a city component of it and again those businesses have been really impacted over the last few years and so this is and this proposal is not conducive to going through the normal process because there's not a non profit so there really isn't another way to do it so this is an exception that i i would be willing to make s and yes cool block program no no yes housing trust fund of santa barbara county no i'd like to do it for just one year to see if there are any residents is in santa barbara that are there but not the second year no culinary experience no no no make a quick comment i did not support any of these except i support all of them deeply really and truly i do i just you know for me i'm very sensitive to process issues and so i felt that fairness dictated for me that i had to make these votes but i'm very very excited to see all of your programs and i think it portends well for our community and just to be clear this is not final decision it will be presenting all this to council and they will look for four votes either way on each of these items at that point on ju i just also wanted to say to all the groups i i appreciate the great work you're doing and like i mentioned and i think councilmember hartman talked about it this is not a normal process and then my experience that the county saw that it became a normal process and there wasn't a way to make it a level playing field and the the two that i supported were exceptional cases and but i want to find a way to see if there's a path for those that didn't offender to come through our standard processes chair dominguez mentioned earlier so thank you all for your submittals and i agree the the one that made it through it was a relatively low amount and there wasn't a channel set up for it this is a extraordinary process this is not an ordinary process and unless we want to change that up which i don't think there's any appetite given our budget issues to do that the normal channels are through the community development grant process the event committee and  those are the ways i would refer people to look for their funding if they want to go to those processes and this last slide you if you can do kind of us as a group these are the things that we presented to you over the last several weeks i will mention that on the third bullet staff recommended adjustments see if we can just pull out the one item the very first item one hundred and fourteen thousand dollars for the police we're gonna hold that in abeyance for we'll bring that back with more information on june th but the rest of them we're looking for recommendations from the finance committee