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Detroit FRC City Meeting Minutes January 30 2023
Detroit Financial Review Commission
CITY REGULAR MEETING
Monday, January 30, 2023, at 1:00 p.m.
Remotely Using Microsoft Teams
Approved: February 27, 2023
- Call to Order
- Chairwoman Rachael Eubanks called the meeting to order at 1:00 p.m.
- The meeting was informed that Chairwoman Rachael Eubanks has designated Kevin A. Smith, Deputy State Treasurer for State and Local finance, as chairperson for the Detroit Financial Review Commission’s monthly meetings, effective February 27, 2023.
- In addition, in accordance with Public Act 181 of 2014, the Michigan Financial Review Commission Act (the "Act"), MCL 141.1631-141.1643, Deputy Treasurer Kevin A. Smith, will serve as designee and a member of the Financial Review Commission for the city of Detroit and the School District of the city of Detroit and the Detroit Public Schools Community District meetings effective February 27, 2023.
- Pursuant to Section 5(5) of the Act, MCL 141.1635(5), in the absence of Chairwoman Eubanks from monthly commission meetings, Deputy Treasurer Smith will serve as chairperson of the commission.
- Mr. Smith addressed the commission and gave a brief overview of his background.
- Roll Call
- Let the record show that six (7) commission members eligible to vote were present. A quorum was present.
- Approval of the Proposed Minutes from the December 19, 2022, Regular City Meeting
- Motion made by commissioner Rose and seconded by commissioner Walsh, to approve the draft minutes of the commission’s city meeting as presented. Motion moved and supported; the commission approved the minutes of the above city meeting as presented.
- Executive Director’s Report
- Patrick Dostine, Executive Director, informed the meeting that in reviewing the city’s monthly report ending November 30, 2022, the city continues to pay its debt obligations, remains in compliance, and there is no reason to consider rescinding the waiver at this time.
- Mr. Dostine informed the commission that Judge Tucker of the U.S. Bankruptcy Court set a hearing date, Feb. 8, for the city’s motion to enforce the Plan of Adjustment and require the 30-year amortization of the UAAL for the Police and Fire Retirement System. Mr. Dostine also informed the commission of the city’s upcoming Consensus Revenue Estimating Conference February 13.
- Old Business
- New Business
- Public Comment
- Next Meeting Date
- City Regular Meeting: Monday, February 27, 2023, at 1:00 p.m., using Microsoft Teams.
- Motion made by Commissioner Nicholson and supported by Commissioner Rose to adjourn. The commission approved the motion to adjourn.
- There being no further business, the meeting adjourned at 1:19 p.m.
Members Present – 8
- Dr. J. Barnwell
- Rachael Eubanks
- Chris Harkins
- David Nicholson
- Jay Rising
- Ron Rose
- Jeremy Vidito (non-voting)
- John Walsh
Members Absent –2
- Angelique Peterson-Mayberry(non-voting)
- Mary Sheffield