By Ryan Clark
NKyTribune reporter
There was a bit of concern, as well as a little celebration, at the city’s Board of Commission meeting Tuesday night.
The concern centered around a presentation of the general fund financial report by city Staff Accountant Jerome Heist, who gave a succinct explanation of the year-end numbers.
In summary, the city’s actual revenue for 2017 was $51,638,859, or $546,198 more than the budgeted amount of $51,092,661
.
But in discussing the particulars of the budget, Heist went on to detail the city’s debt service, which featured 11 loans and bonds, two of which he said were re-financed, while another two would be paid off this year. The loans and bonds totaled just over $5.1 million, giving the city 10 percent debt.
And that gave Commissioner Bill Wells some concern.
“Is that the best position to be in?” he asked.
City Manager David Johnston replied that the state usually suggests a best practice of no more than 5 percent debt.
“We need to get some of these (paid) down faster,” Wells said.
ALSO TUESDAY:
– Commissioners heard a first reading of an ordinance allowing the sale of distilled liquor, wine and malt beverages by the drink beginning at 9 a.m. on Sundays.
“This will be voted on in two weeks,” Mayor Joe Meyer said. “(It) does not change anything to do with packaged liquor stores.”
In preparation of the vote, Wells asked for a map to display exactly where in the city the liquor sales would occur.
– Commissioners approved a motion (4-1, with Wells dissenting) to hear a first reading of a zone change for the so-called “bubble diagram” for the Tuscany Development, which would allow Fischer Homes to build various kinds of homes on land overlooking KY 17 and Pioneer Park. The homes could be of different kinds – condos, apartments or single-family – depending on demand, with no formal zone change process.
Wells sided with the Kenton County Planning Commission, which previously voted 19-1 against the bubble.
– Commissioners voted unanimously to change Philadelphia Street to make it one way southbound from Seventh Street to Ninth Street, which will add parking and also help the city’s parking mitigation plan for the 501 Main Riverhaus Development.
– Lastly, commissioners honored retiring Covington Police Capt. Amanda Donelan and Sgt. Wes Cook, while also promoting Lt. William Kelley (to Captain), Sgt. Matthew Winship (to Lieutenant), and Officers Donald Strange and Daniel Mitchell (to Sergeants). More than 70 friends and family attended the ceremonies for the officers.
City officials would like to remind the public about Friday’s Veteran Service Memorial re-dedication at 4:30 p.m. at Devou Park.
The next Covington Commission meeting will be a Caucus Meeting, held at 6 p.m., Oct. 3 at the Covington City Hall at 20 West Pike St.
Mayor Meyer said he would like to discuss the city’s Sidewalk Repair Program and review a detailed presentation on the Licking River Trail.