Approval of Minutes - February 4, 2002 - Regular Session
Mayor Boyette announced that the minutes of the February 4, 2002 regular session were open for review and approval. There being no corrections to the minutes, Councilman Ebron made the motion to approve the February 4, 2002 minutes. Councilman Baker seconded the motion which carried unanimously, 4 to 0.

Beaufort County Economic Development Commission (BCEDC) Mr. Tom Thompson, Executive Director - Presentation and Request
Mayor Boyette introduced Mr. Tom Thompson, Executive Director with Beaufort County Economic Development Commission. Mr. Thompson stated that the commission wanted to have a Waterfront Feasibility Study of Belhaven. Mr. Thompson further explained that before the waterfront could be developed a feasibility study would be necessary as lending agencies requires these studies. Mr. Thompson stated that the purpose of the study would be to enhance Belhaven as a stop on the Intra coastal Waterway, studies for sailboat marina, family oriented boat ramp with bathrooms, paved ramps and other types of development. Mr. Thompson stated that Beaufort County had committed $12,500 funding and he was requesting $12,500 from the Town. Mr. Thompson explained that should he receive this $25,000 then EDA would match the $25,000 therefore having enough money to complete the $50,000 study.

Consensus of the council was to support the proposed feasibility study but to review the budget during these times of state cut backs, etc. Mr. Thompson stated that the proposed study would take approximately six months to complete. Mayor Boyette asked for any questions or comments from the public. In summary the public stated that Belhaven had a bad reputation on the Intra Coastal Waterway and that a motel was needed. Mayor Boyette thanked Mr. Thompson for his presentation.

Budget Impacts for State Withholding of Local Government Reimbursements
Mayor Boyette stated that Town Manager Johnson wanted to report the impact the state withholding reimbursements.

Town Manager Johnson stated that the recent state withholding of reimbursements, cost the town $40,432. Town Manager Johnson further explained that the town would lose all beer and wine taxes and with the Town absorbing the last electric rate increase of 8.4% the current budget was short. Town Manager Johnson stated that the mild weather made less electric sales and less revenue collected. Town Manager Johnson stated that the Town was in good financial condition but the electric rates need to be addressed with an increase now or increasing more at a later date.

Town Manager Johnson stated that tax collections are slow and under 90% which will force the town to proceed with foreclosures, attachments and garnishment of wages. Town Manager Johnson informed the Council of the importance of having the tax collection rate to 90% by the end of the month, in order for the Local Government Commission, to allow bonds to be sold for the construction of the new Water Plant.

Town Manager Johnson stated that the Fiscal Year 2002-2003 budget would be a hard year due to low investment rates and state cut backs along with electric rate increases which the town has absorbed. Town Manager Johnson stated that due to this there would be no capital expenditures the remainder of this budget year. Town Manager Johnson stated that the $12,500 feasibility, which Mr. Thompson presented earlier in the meeting, would be another item for which budgeting would be hard.