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File Number: 16-015 <br />Studies have shown that 31 % Latinos, 22% Asian, 20% African American, and 21 % women <br />are minimum wage earners. Vice Mayor Prola stated the goal is for small business to grow. <br />Unfortunately, non-English speaking communities are being exploited and it is important to aid <br />them with fair wages. Councilmember Lee agreed. <br />Mayor Cutter stated that if anyone in the audience has additional information, please send <br />directly to her and she will provide to the Committee. Mayor Cutter would like a survey sent to <br />the San Leandro business. Facts and education are necessary. <br />City Manager Zapata confirmed what the Committee is requesting of staff and stated that a <br />working ordinance will be provided. <br />Mayor Cutter would like to get responses back before January meeting. <br />Mia Ousley, asked if survey can be sent out with the business license renewals. Mary Ann <br />Perini, Budget and Compliance Manger, stated that unfortunately, business license renewals <br />were already in the mail. <br />2.6. City Debt Service Obligations <br />City Manager Zapata, provided an overview of the City's debt service. Mr. Zapata stated in <br />the past, this report had not been provided to the Finance Committee but would be going <br />forward. <br />Finance Director Baum provided a brief summary of the report provided and sated that the <br />City of San Leandro has been conservative of the debt issuance. The City's current debt <br />obligations are for Fire Engine Leases, Certificates of Participation, and most currently <br />Pension Obligation Bond. Although this information has not been brought separately, it is <br />included in both the Adopted Budget document as well as the Comprehensive Annual <br />Financial Report (CAFR). <br />Finance Director Baum also reviewed the current loans the City is repaying including a loan to <br />the Shoreline Fund from the General Fund for improvements to the Marina and Golf course. <br />Not included however, is the loan for the Water Pollution Control Plant Improvement project. <br />City Manager Zapata stated that the debts being reported are funded debts and are being <br />paid for and will end. These types of debts can assist with non -mandated projects, e.g. ADA <br />requirement projects. There are many projects listed as Capital Improvement Projects that <br />cannot be completed due to lack of funds. <br />Vice Mayor Prola stated that currently the debt ratio is low if we are going to borrow money, <br />this is the time to do it because interest rate is low but by next year, they should go up. <br />Councilmember Lee agrees however stated that there are projects currently listed as Capital <br />Improvement that be pulled as the technology is outdated. <br />Mayor Cutter agrees and stated that when the needs of all neighborhoods must be carefully <br />reviewed. <br />City of San Leandro Page 4 Printed on 1126/2016 <br />