Executive Meeting - September

Executive Committee Meeting 
Chattanooga BID/Downtown Chattanooga Alliance 
Wednesday, September 9, 2020

Time: 2:00-3:31
Location: By Zoom

1. Call to Order

Steve Hunt, Chairman of the Chattanooga BID, called the meeting to order. Executive Committee members attending were Kelly Fitzgerald,  Charles Perry, and Gordon Stalans. 

Also present were Steve Brookes, Executive Director of the Chattanooga BID, and Julia Bursch of River City Company. 

1. Old Business

(a) The Block by Block contract is fully executed. 

(b) The transformation of the DCA office at 407 Broad Street is almost complete. 

2. New Business

(a) A motion to establish a Strategic Initiative and Planning Committee will be presented at next week’s Board meeting. 

(b) There was discussion of aligning the DCA budget with the City budget cycle-- perhaps in 2022. This matter should be revisited in  May-June, 2021. 

2. For the Finance Committee

Gordon Stalans reported on year-to date expenditures, a forecast of the 2020 budget and the proposed  2021 budget. (These documents had been earlier circulated to the  Board.) 

Among the points he made in his earlier email and the Executive  Committee meeting are the following: 

(a) Assessment revenue in 2020 ($915,886) is higher than that budgeted for 2021 ($867,800) because the 2020 figure includes 2  months of assessments collected in 2019. 

(b) In the total revenue figure for 2020 is a $100,000 grant from the  Lyndhurst Foundation. Stalans urged that the DCA continue to submit grant proposals. 

(c) The 2020 forecast for the Clean and Hospitality program ($207,668) represents costs for a partial year, while the 2021 figure  ($623,000) represents costs for a full year.  

(d) $100,000 is included in the 2021 budget for deferred maintenance and beautification projects.

(e) It is anticipated that consultant and legal fees will drop significantly in 2021. 

(f) The rent budget for office space in 2021 is for 12 months as opposed to 5 months in 2020. 

(g) It is anticipated that the fund balance (or cash balance) at the end of 2020 will be $620,599 and the fund balance at the end of 2021 will be $563,833. 

(h) Stalans remarked that a reserve fund in the range of 3 months’ operating expenses (approximately $225,000) should be established. This matter will be referred to the Board at the September 16th meeting.

3. New Business

(a) S. Hunt reported on the September 8th meeting of the City Council Budget and Finance Committee.

4. Executive Director Report

S. Brookes reported on the following matters: the website transition,  DCA Ambassador cards, Safety Escort cards, the recent Sprout  program on Broad Street, surveying property owner ideas and  concerns, and ways to address safety issues in the district (In regard  to the last item, the walk of the district with Chief Roddy was helpful.)

The meeting adjourned at 3:31.