Page 28 The Dispatch/Maryland Coast Dispatch and Pillas abstained to approve the commission’s finding of facts and move the amendment to first reading. October 11, 2013 ... Ocean City News In Brief FROM PAGE 27 reduce city costs. Klebe responded if the town approves event organizers can set out traffic cones along the course within town limits instead of city staff having to do so. OC TriRunning already receives permission from the State Highway Administration to set out cones from Assateague down Route 611 and up to Ocean City for another event. Another idea was to change the race route to cover a smaller amount of space. Klebe agreed to further investigate ways to reduce city costs for the Seaside 10 events in the future. The council voted unanimously to grant another three-year event approval. ticle V of the Code related to Parking Regulations to determine how to calculate required parking in shopping centers, shopping plazas, retail stores, personal service establishments and convenience food stores greater than 5,000 square feet of gross floor area. According to Zoning Analyst Kay Stroud, by way of clarification, the code amendment specifies that the first 25 percent of the gross square feet occupied by establishments for consumption of food or beverage on or off the premises provide parking at one space per 225 square feet of gross floor area; whereas the same uses would create a higher demand if over 25-percent of total gross square feet and be calculated at one space per 100 square feet of gross floor area, which is the way the current code is written. The council voted 5-0 with Ashley Bond Ordinance Approved The second reading for the sale of bonds to finance the Convention Center auditorium and other capital projects came before the Mayor and Council this week. The ordinance reflected an amendment the council approved last week to have the bonds amortized over 10 years versus 20 years. Finance Administrator Martha Bennett explained at that time the convention center portion of the bonds is $8,470,000 million to build a new performing arts center and is being amortized over 10 years. In Bennett’s and town financial advisor Davenport’s opinion, the $4.23 million for remaining projects of a roof for the Public Safety Building, a roof for the Service Center Building, a new Beach Patrol headquarters, and an effluent disinfection system at the Wastewater Treatment Plant can also be amortized over 10 years. Davenport estimates rates for years one through 10 of 2 to 4 percent and a rate of 5 percent for years 11 through 20. The total General Fund debt service will remain below the 2014 amount, but change in amortization increases the General Fund annual debt service from $118,000 to $124,000 annually for 10 years. When the bonds are paid off, the debt service is $225,000 less per year. This decreases the total General Fund interest to $1,039,532 and wastewater fund interest decreases to $471,540. The council voted unanimously to approve the bond ordinance as amended and proceed with the bond sale schedule. Budget Amendment OK’d The second reading of Fiscal Year 2013 Budget Amendment #2 reached the council this week that recognizes additional revenue from Income Tax, Admissions Tax, Room Tax and Cable TV Franchise to reduce the amount needed from fund balance for the fiscal year. In addition, the amendment adjusts other revenue and expense line items for fiscal year FY 13. According to Budget Manager Jennie Knapp, the amount taken from prior year reserves, or fund balance, decreases $827,570 from $3,809,250 approved in Budget Amendment #1 for FY13. The total amount to be taken from prior year reserves in the budget ordinance is $2,981,680 for FY 13. The council voted 6-0 with Councilman Dennis Dare out of the room to approve the amendment. Parking Regs To Be Amended This week, the Mayor and City Council considered amending Ar- Salisbury 701 East Naylor Mill Road 410-677-0350 CENTURY 21 New Horizon 8606 Coastal Highway, Ocean City, Maryland 21842 ® 2013 Century 21 New Horizon 410-723-4500 • 800-369-0101 • www.century21newhorizon.com NEW LISTING ✤❜✆✡✆❜¤✵✚✡❜✌ LUCAYAN #27 71ST STREET BAYSIDE Beautifully furnished, nicely decorated, and ready to move in. Pride of ownership is evident here. So close to the beach and bay. Two bedrooms and two bathrooms. Over 900 square feet. Swimming pool. Complete exterior renovation. Balcony. Elevator. 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