 Is there anyone wishing to speak to the board of finance at the public forum? Looking online, so you have several attendees, please raise your hand if you'd like to be recognized. That will close the public forum and move to the consent agenda. It's like welcome motion to adopt the consent agenda. Take the action indicated, which is essentially adopted. It is adopted and submitted to the public forum. So vote. Thank you. Is there a second? Second. Second by, that's a high tower discussion of the consent agenda. Seeing none, we'll go to a vote. All those in favor, motion please say aye. Aye. Are there any opposed? Consent agenda is adopted unanimously. Okay, we have three delivered items. First one is 4.01 amendment. Assignment of grounds to reserve formal housing at 300 Lake Street. So two item and let's see what we got. Todd, I hear you come back, share, let's give us a quick summary. Good evening all. So by way of background in 2003, the city leased an acre and a half of city land to the Burlington community land trust to construct 40 units and permanently affordable housing on the waterfront. That building waterfront housing is just per reference located near where the skate park is currently located. And it is to my knowledge, the only permanently affordable housing located on our waterfront. Since it was completed 20 years ago, this successfully operated serving primarily folks at 15% to 60% of area median income and better rent, which is affordable to those households. So recently due to an undetected leak in their wastewater system, the building experience very substantial damage, which will require approximately $3.1 million in repairs to the building and made a number of the units inhabitable. So given that the insurance will not cover all of these costs, the most feasible way that we understand to fund these repairs is to bring new low income housing tax credits into the project, which will infuse a substantial amount of capital to fund those repairs. So CHT is proposing to do exactly this and has two requests which are necessary bring this funding into the project. The first is to allow the city ground lease to be assumed by this new low income housing tax credit entity. And the second is to modify the terms of the lease to maintain the annual lease payment at its current rate of $4,700 a year. So after CEDO has examined the financial performance of the projects to determine whether or not the property could continue to be viable with an increased rent, we determined that it could not based on information we perceive. And so consequently, we are recommending the approval and we CEDO supports both of these requests from CHT. Great, thank you, Ted. Lawrence open for questions or motion? Councilor Hightower. Yeah, just curious as to if we know what CHT did for or with any of the residents of the units that had to be vacated and... Yeah, my understanding is that the folks who were displaced have found temporary homes in different locations within CHT's Port Collea. Unfortunately, we're also joined by Amy Dimetrowitz of CHT and she may be able to give you more detail on that. Sure, what are they? Yes, we were able to... The leak was discovered over time and so we were able to relocate all of the residents to other homes. Some are choosing to stay long-term and others, everyone has been offered the ability to come back once they're completed. But some are deciding to stay where they were relocated to. Great, thank you. Further discussion? President Paul. Unless others want to, I'm happy to make the motion to take the action as recommended before this. Thank you. Is there a second? Seconded by Councilor McGee. If you know further discussion, we will open the vote. All those in favor of motion, please say aye. Aye. Any opposed? Motion carries. Thank you. Thank you. Okay, one other item for approval and recommendation of the city council and its BEV property, machinery, insurance and all. Welcome, Paul. Let me get us a quick discussion. Sorry, I'm over here. Absolutely, so this is our annual profit-boiling machinery, insurance and all. The biggest line by far is all of what we've come with. Every year, the name when it's been on the board for a while, it's been probably too many times, but we've had significant increases in the last three or four years. Three or four years ago, about 225,000 we jumped to 660 degree when we're paying now. Good news this year. There are four different insurance carriers that underwrite this. The big one, the station is particularly unique. So we have AIO, which is huge, Zurich, StarTech, and just good news this year for the first time in four and a half years. You have a slight decrease predicted not to exceed 3%. That's what we put in our budget this year. So we're here in front of you, looking for that approval to not exceed the good news. The thing probably to pick up in Boardman, which is the insurance, I hope, provides a quick city hope to come in after a little bit less than that, about 670 to 670,000. So it's a 3% increase, we're looking at probably 1.3%. The timing is such that that policy doesn't renew until November 20th, and it's been November 1st, 20 days in the insurance world, like you. So I'm reluctant to walk into the last minute, so I'll look at the staff that are working extremely hard. Guaranteed to find coverage not to exceed 3%. I guess the other good news, in addition to the decreased costs or not to exceed, is that AIG has actually wanted to write what we call capacity reading. Instead of 25% of the appeal, they wanted to write a monthly vote, 50%. And that's significant because their rates are less than half of some of the current numbers that are writing that policy. So the good news, they raised it to 35%. That's why we're seeing a slight increase. Fingers crossed, we're hoping to, as early as next year, if you have AIG, right, just kind of have capacity and then we'd see even more significant savings. So that's it in Nutshell. Here to answer any questions. Great, look at Bob. Floor's open for discussion, promotion. Because of Bob. So you've never been tired of seeing people. I do remember when you were here. The only reason I remember is because if you say that you're only here for this one, I remember when you were here. So it must be this one. And I do remember when it went up so much, probably because I believe Paul Plunkett was sitting here and I was like, wow, that's a lot. So this is actually much better news. And thank you very much for the, thank you very much for the presentation. It's interesting, at least for me. It's interesting to know why, you know, the why going into the why and that's where, with all of why we're honest. It's not as high a difference. It's very interesting. I'm happy to make a motion to take the action for the board to us. President Paul, is there a second for the motion? Second by Councilor Hightower. Discussion of the motion. Seeing none, we will go to a vote. All those in favor, they go to the chair. Aye. Aye. Very opposed to the motion. Thank you, Paul. Thank you very much. See you next year. That's right. Paul, the risk guy shares that sooner is a problem. Good night. Thank you. Okay, final items for tonight is for board approval. Only is a request to a contract with PC construction company for roof structure stabilization and the board auditorium. This is the first piece of work in the structural stabilization at Memorial Auditorium that we discussed with several times with the bond funding that was allocated to make sure we keep this building standing for the next few years when we continue to determine the best path forward for the building. So again, this piece was the first one to get underway that structural engineer had let us know in the report over the winter that there was a risk of roof collapse due to damage to or just time age of some of the roof permoids in heavy snows. We're trying to work hard to get this work done before we have heavy snow and we're excited to get a few bids and moving forward. So having an answer and a question. While we're here, just a note and give it a piece of story not long ago about how to use it. Sure, this is a parallel process to that obviously the stabilization of the building. RFP, which we call that are similar, is sort of out on the street with proposals due on December 2. So we'll be working in the next few weeks to put together that committee to review proposals, hopefully, as they come in, but have a second. Great. Good. Both processes moving. It's a large open for discussion or motion as indicated. Thank you, Councillor James. Seconded by President Paul. Any further discussion? Seeing none, we will go vote. While we prepare for the motion, please say aye. All right, opposed? All areas unanimously. And we have completed our businesses for finance. Seeing none for the business for objection, we will adjourn at 5.18 p.m. for finance. We're actually at, well, how to schedule. So I know it's just a little bit of a result poll. Maybe I'll hand it over to you to share with folks how it works. So to just give us the opportunity to celebrate the huge news today, like the big news in Burlington, the roundabout is open. The roundabout is opening because there was just a capital to a reality that was major big news. News that you were one of the great champions of President Paul for many years. It's only them, like, the worst that he brought. But it's very exciting. It's today was the day. And I wasn't there at 10 o'clock in the morning. I wish I could have been, but they opened it, apparently, and took all the stuff down at 10 a.m. this morning. And there's no lines yet. They haven't painted the lines. But you can literally go around. And there's actually people standing, waiting to be able to cross, so they can do it so much more safely than with the students. So it's, and they're ahead of schedule. Like six months ahead of where Ireland said they would be. So it was supposed to be in June of next year. So how often can you say that? I'd get that in the schedule. We got another project coming in the way. I'm going to carry it here. Yeah, we can wait, but we can certainly grab it and say, what is it, 521? We're going to have to wait. So we're going to be here. So Joe and Soraya, just so you know, we're going to be in this room. So we're not going to have to go anywhere. So we'll just sit here. I assume others will know.