Matt Currie, 263 Ridgewood Avenue, shared that as an Oakwood resident, it is embarrassing to see a report like this. He said that it is important to understand that ABLE was contacted by the Montgomery County Public Defender because those appearing in Court for Oakwood violations were mainly African American. A person being pulled over for no reason is an issue and needs to be addressed. The Oakwood Public Safety Department is great, and he supports all of their efforts to keep the Oakwood community safe, but he finds it troubling to read about discretionary stops. Mr. Currie concluded his comments by stating that traffic stops should not occur unless there is probable cause or a moving violation.

Mayor Duncan explained that City Council and city staff plan to work with Dr. Hurley and Mr. Ellis to address concerns, and to understand the report in detail. He shared that he will provide an updated status report to the community in approximately 60 days.

A copy of the ordinance, having been placed on the desks of each member of Council prior to introduction, was read by title.

Vice Mayor Byington explained that this is the first reading of a supplemental appropriation ordinance that will allow the City to make two expenditures not already included in the 2019 budget. One is the early payoff of a liability owed to the state of Ohio, and the other is the purchase of a vehicle for use by the Director of Engineering and Public Works.

The Ohio Police & Fire Pension Fund (“OPFP”) was created by the Ohio General Assembly in 1965 to replace hundreds of individual local police and fire pension plans. At the time, many cities including Oakwood had pension liabilities on paper exceeding the assets needed to pay future retiree benefits. In other words, once the state assumed control of local pension plans, many local governments owed money to the state. These liabilities were placed on a 65 year payment schedule, with payments beginning in 1970 and continuing through 2035.

The current payoff figure for Oakwood’s remaining liability is $422,137, which continues to incur interest at an average rate of 4.25 percent. Due to the difference between that interest rate and the amounts generated by city investments, Council has determined that it costs the city more to carry this debt, and paying off this liability early is the most prudent use of city resources. By paying off the liability now, the city will save approximately $175,000 in interest expenses that would otherwise accrue between now and 2035.

It should be noted that 0.3 mills of the city’s inside-millage property tax revenues, which amounts to approximately $96,000 annually, have been dedicated to servicing this liability. Once the liability is paid off, the Montgomery County Budget Commission has approved the reallocation of that money to the city’s General Fund going forward.