2022-06-09 Finance Committee Minutes - Open SessionFinance Committee Meeting
Open Session
June 9th, 2022
MINUTES —OPEN SESSION FINANCE COMMITTEE MEETING
JUNE 9, 2022, AT4:30 PM
MEETING CONDUCTED BY ELECTRONIC PARTICIPATION
Present: Mayor D. Noade Reardon
Councillor G. Sullivan
Councillor P. Radwan
Councillor D. Hickey
Councillor G. Norton
Also
Present: City ManagerJ. Collin
Commissioner of Finance and Treasurer K. Fudge
Commissioner Transportation & Environment M. Hugenholtz
Commissioner Saint John Water B. McGovern
Commissioner Growth J. Hamilton
Fire Chief K. Clifford
Senior Financial ManagerJ. Forgie
Senior Financial Manager C. Lavigne
Director Engineering & Chief City Engineer M. Baker
Administrative Officer R. Evans
Deputy Clerk P. Anglin
1. Meeting Called to Order
Councillor Sullivan called the Finance Committee open session meeting to order.
1.1 Approval of Agenda
Moved by Mayor Noade Reardon, seconded by Councillor Radwan:
RESOLVED that the agenda of May 26, 2022, be approved.
MOTION CARRIED.
1.1.2 Conflict -of -Interest
Councillor Radwan declared a conflict -of -interest with one line item on the Integrated Bilateral Fund.
1.2 Integrated Bilateral Fund
Referring to the submitted report "Integrated Bilateral Fund" Chief City Engineer M. Baker advised the
financial breakdown for the Integrated Bilateral program remains the same as what was before the
Finance Committee in March 2022. However, some important dates have changed; there has been an
extension to the expiry date for the program which now expires March 31, 2034. The original expiry date
was March 31, 2028. Project construction timelines were also changed. All project construction must now
be completed by October 2033. The original construction completion date was October 2027. The
deadline for Federal approval has changed to March 31, 2023. The original was March 31, 2025. Therefore,
with the new date changing to 2023 it is important that the City identify and submit its funding priorities
at this time.
The projects proposed to be submitted under this funding opportunity based on additional feedback from
the Regional Development Corporation (RDC), as a result of changes to the Bilateral funding program
Finance Committee Meeting
Open Session
June 9th, 2022
(2027 to 2033 for construction) and due to significant market price increases in the past couple of months
were listed.
Councillor Radwan withdrew from the voting on the motion.
Moved by Councillor Hickey, seconded by Mayor Noade Reardon:
RESOLVED THAT:
Finance Committee endorse the updated proposed project list for application to the
Integrated Bilateral Agreement (IBA) funding opportunity, and
Direct Staff to bring back recommendations as part of the 2023 Capital Budget process.
MOTION CARRIED.
Adjournment
Moved by Mayor Noade Reardon, seconded by Councillor Radwan:
RESOLVED that the Finance Committee meeting be adjourned.
MOTION CARRIED.
The Finance Committee open session meeting held on May 26, 2022, was adjourned at 4:35 pm.