REPORT TO COUNCIL
SUBJECT
Title
Action on a Council Written Request (Council Policy 030) Submitted by Vice Mayor Jain Requesting to Place an Agenda Item at a Future Council Meeting to Set a Study/Briefing Session for the Public in which the Terms of the Settlement Agreement are Discussed as well as Presentation of Sources of Revenues, to include an explanation of the Waterfall through which Money Flows as well as the Rate at which the various Loans are being Paid Off
Report
COUNCIL PILLAR
Enhance Community Engagement and Transparency
BACKGROUND
Council Policy 030 - Adding an Item on the Agenda (Attachment 1) sets forth the procedure for written petitions. Any member of the public or Council may submit a written request raising any issue or item within the subject matter jurisdiction of the Council. Per the policy, the written request will be submitted on the agenda, in the form substantially provided by the requestor, without any staff analysis, including fiscal review, legal review and policy review. If a simple majority of the City Council supports further study of the request, then a full staff analysis shall be prepared within thirty (30) days, unless otherwise directed by the City Council.
DISCUSSION
The City Clerk's Office received a Council Written Request on September 27, 2022 requesting to place an agenda item at a future council meeting to set a study/briefing session for the public in which the terms of the settlement agreement are discussed as well as presentation of sources of revenues (land lease, rent naming rights, ticket surcharges for NFL and non-NFL, parking, concessions, SBL sales, etc) as well as a discussion of how the money is spent (operating expenses, public safety, capital expenses, capital expense reserves, Term A mortgage, Manco Subloan, Demolition reserve, bank loan, operating reserves, discretionary fund, general fund, etc). I would like an explanation of the waterfall through which money flows as well as the rate at which the v...
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