Town of Bermuda Run Town Council Meeting Minutes January 10, 2017 -7:00 PM  The Town Council of] Bermuda Run held its scheduled meeting on Tuesday, January 10, 2017 at 7:00 Council Members Present: Mayor Kenneth. A. Rethmeier, DrPH; Ken Bateman; Shirley Cagle;  PM. The meeting was held at Bermuda Run Town Hall.  Edc Coley John Guglielmi and Jerry West  Council Members Absent: None  Also Present: Call to Order Pledge of Allegiance Moment of Silence Adoption ofthe Agenda (5)infavor and none opposed.  Lee Rollins, Town Manager and Brian Williams, Town Attorney  Mayor Rethmeier called the meeting to order.  Council Member John Guglielmi made a motion to approve the January 10 Council Meeting Agenda as presented. Council MemberJerry West seconded. the motion. The motion was approved by a vote offive  Approval of the December 15, 2016 Meeting Minutes  Council Member Shirley Cagle made a motion to approve the December 15, 2016 meeting minutes as presented. Council Member. Ken Bateman seconded. the motion. The motion was approved by a vote of  five (5) inj favor and none opposed. Citizens Comments There were: none.  Presentation- - 2017 Property Revaluation to the Town Council on the 2017 property revaluation.  Davie County Tax Administrator, Brian Myers, and Mike Beck, were on hand to provide aj presentation    Council/Mayor Comments Shirley Cagle: Ken Bateman: Ed Coley: Jerry West:  Tendered her resignation on1 the Town Council, effective. January 13, 2017. Has Thanked Shirley Cagle for her service to the Town and appreciated working with Thanked Shirley for filling her Council Member role wonderfully.  moved to Clemmons. She had no comments. her for the betterment of Bermuda Run. Thanked Shirley for her service. snow: removal from the town streets.  John Guglielmi: Thanked Shirley for her service; very sorry to see her go.  Mayor Rethmeier: Thanked Shirley for her contributions and stellar service to the residents of  Bermuda Run. Also thanked Stacy Cornatzer and his team for the great work in  There being noj further business, Council MemberJerry West made ai motion to adjourn. Council Member Shirley Cagle seconded the motion. The motion was approved by a vote offive (5) infavor and  none opposed. Approved  Respectfully Submitted Mib H. Lee Rollins, Town Manager  hoNb  Kenneth A. Rethmeier, DrPH-N Mayor    Town of Bermuda Run Fund Balance and Debt Policy  Fund Balance Policy  The Town will maintain operating reserves by maintaining al healthy fund balance. The General Fund undesignated fund balance should not be lower than 50% oft the General Fund budget expenditures. The Town wishes to maintain sufficient minimum reserves in any given budget  year for capital projects and operational expenses.  Debt Policy  The Town takes aj planned approach to the management ofi its long-term debt issuances. The Town will consider the use oflong-term debt financing only when it meets the following criteria: The financing period is no longer than the estimated life oft the improvement, and The improvement will benefit both current and future citizens oft the Town.  The Town strives to limit total debt service to no more than 15% of General Fund expenditures. By state law the Town must limit the total ofall debt issued to no more than 8% of the total assessed valuation. The Town may utilize the authority granted within the General Statutes for  lease ori installment purchases when deemed appropriate. Adopted on March 14, 20171 byi a vote of 5 in: favor and O  opposed.  lcNg Kenneth. A. Rethmeier, DrPH  ME H.Lee Rollins Town Manager  Mayor    BERMU  Resolution 2017-01  Resolution of Intent to Purchase Property for Recreation  WHEREAS, Through public participation, the Bermuda Run Town Council adopted its first WHEREAS, The purpose of the Comprehensive Plan ist to establish groundwork for implementing the long-range development and conservation objectives oft the Town; and WHEREAS, Once adopted, the Comprehensive Plan becomes the Town of Bermuda Run's official public policy to guide decisions related to growth, quality oflife, and capital  Comprehensive Plan in April, 2012; and  investments; and  WHEREAS, During the public input phase oft the Comprehensive Plan, one oft the questions for response was, "Each community has shortcomings. Which ofthefollowing do you think apply to WHEREAS, Out of248 responses to the question, the top three in order were: 1.)Lack of pedestrian facilities (sidewalks, walking trails, greenways), 2.)Lack of parks and recreation WHEREAS, The Comprehensive Plan Goal for "Parks & Recreation, Open Space is, Make use ofattractive recreationf facilities that provide ai variety ofactivities for all residents oft the Town WHEREAS, Strategy P5 of the recreation plan goal states, Initiate purchase ofland fora future riverfront park between Highway 158 and. Interstate 40 to the Yadkin. River and. soccer WHEREAS, Due to the growth of the soccer complex, the purchase of land along the riverfront WHEREAS, Twin City Youth Soccer Association seeks to grow to year round activities and WHEREAS, Twin City Youth Soccer has entered into a Letter ofI Intent with the Hillsdale Group to purchase approximately 28 acres adjacent toi its complex and north ofthe Bahnson  the Town of Bermuda Run' "; and  facilities, 3.)Lack of a town center; and  of Bermuda Run; and  complex; and  for a park is no longer feasible; and needs additional property; and  Lakes; and    WHEREAS, To buy down the purchase price oft the property and to aid the Town ini its fulfillment of strategy P5, Twin City Youth Soccer Association has asked the Town toj purchase approximately 14 acres for the purpose of passive recreation, walking trails and parking; and WHEREAS, Twin City Youth Soccer has offered to sell to the Town the 14 acres at the same price per acre as the Letter of] Intent with the Hillsdale Group, or $32,142 per acre, for at total of WHEREAS, The Bermuda Run Town Council concurs with the vision set forth in the Comprehensive Plan, understands the opportunity to partner with Twin City Youth Soccer fora holistic recreation destination, understands the potential economic development benefit associated with the soccer park as outlined in The Huddle Up Group report ofJuly, 2016, and sees the unexpected opportunity to utilize the Bahnson Lakes and surrounding property to provide a best-in-class greenway and passive recreation system that will connect the north and NOW, THEREFORE, BE IT RESOLVED, that it is the intent oft the Bermuda Run Town Council to enter into aj purchase agreement with Twin City Youth Soccer for the purchase of approximately 14 acres of] land to: fulfill the purposes that have been previously set forth; details Adopted this the 14 day ofMarch, 2017, by a vote of S in favor and 0 opposed.  $449,980; and  south sides of Interstate 40; and  for purchase price agreement and withdrawal clauses yet tol be determined.  ATTEST: yh Cindy Griffith Town Clerk  houtws Kenneth A. Rethmeier, DrPH  Mayor