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Wyoming may be in line for some new development. At the City Councils March 3 meeting, City Engineer Mark Erichson reported potential development at three sites in the city. A developer has recently submitted a sketch plan for a 38-unit complex on 257th Avenue across from Xccent. Preliminary plans are being developed.
A second location of possible development is between Wyoming Trail and Viking Boulevard, west of Glen Oak. The sketch plan is for 37 single-family homes. Erichson is provided information about utility infrastructure, design criteria for the area, and information about design criteria for the streets.
The third area being considered for development is north of Viking Boulevard (County Road 22) and west of Interstate 35. Erichson provided the citys surface water guidelines, specifications and detail plans to the developers engineer. An Environmental Assessment Worksheet is necessary because the size of the proposed project is around 300 units.
Other work nearing completion is the Greenway Avenue Improvement Project and the Liberty Ponds Development. This is related to finishing landscaping details and final asphalt on streets, which is tied to spring warm-up.
Fire pensions
Fire Capt. Matt Pikus presented a request from the Fire Relief Association to raise the pension benefit level for retirees. The FRA provides funds and services for retirement and benefits to all members of the association and their families. Benefits are regulated by federal and state laws, as well as bylaws of the organization.
There are two funds designated in the FRA. The general fund receives money from dues, fines, donations, fundraising (Stagecoach Days) and miscellaneous sources, not-mandated by law or the bylaws. This money may be used for the general welfare of the association and its members when authorized by the majority of members. The special fund, on the other hand, can only be released for members service pensions, some ancillary benefits and administrative expenses in accordance to state law. The majority is for pensions.
Sources of the money for the special fund were discussed. State fire aid money comes from a portion of fire insurance premiums returned to the city annually. The city also makes a contribution to the tune of $200 per year for each active firefighter. Other donations may be designated in support of the special fund. All this, plus accrued interest, helps fund this designated-pension portion of the plan.
Following guidelines recommended by the state auditor, the benefits were increased in 2013 to $1,150, with a funding level of 173 percent. The current funding level has grown to 213 percent. Pikus explained that using conservative estimated interest of 5 percent and the same expenses and income, an increase in benefits to $2,200 would still produce a funding level of 126 percent. State statute limits pension funds to $3,400 per year of active service. No major changes are being proposed, just to balance out the funds.
According to Pikus information from the consulting auditor, the special fund has benefited from good returns on investments. The investment plan and results are re-evaluated annually, with guidance provided by the State Board of Investments. Even with the increase in pension benefit, the association would be following the state auditors recommendation that the fund maintain a slight surplus.
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Wyoming discusses development
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