McAllen commission reviews $456.2 million investment portfolio amid wide-ranging agenda
Advisory board appointment approved
McAllen News, McAllen TX News, city finance, investments
Arnoldo Mata
McAllen, TX - The McAllen City Commission accepted the city’s quarterly investment report showing a $456.2 million ending portfolio balance, while also addressing planning matters, infrastructure contracts, tax credit housing resolutions and advisory board appointments during its Feb. 9 meeting.
Quarterly investment report
Resendez told commissioners the report “is in compliance with the Public Funds Investment Act and the city’s investment policy.” She said the “ending book value for the quarter was $456,247,240,” and that the “weighted average yield to maturity was 4.06%.”
Resendez also told the commission the quarterly investment report “was reviewed by the Audit Investment Committee on January 19th, and they recommend approval.”
Commissioners discussed the timing of the report and its review. One commissioner said the report covered “the September 30th, so it was the end of the year — OK — of our last fiscal year,” and referenced the Audit Investment Committee’s review. The commissioner said the committee would meet again in about two weeks, “March 3rd,” for the next quarterly report.
Advisory board appointments
During the meeting, commissioners approved a slate of advisory board appointments spanning multiple city boards and commissions, following a recent public call for applicants. City officials noted a strong response from residents interested in serving, crediting the city’s communications efforts for increasing community engagement.
Appointments included representatives to the Airport Advisory Board, Building Board of Adjustments and Appeals, Community Development Council, Convention Center Advisory Board, Disability Advisory Board, Golf Course Advisory Board, Library Board, Parks and Recreation Board, Planning and Zoning Commission, Senior Citizens Advisory Board, Traffic Commission and Keep McAllen Beautiful. Commissioners made both new appointments and reappointments, and the full slate was approved by vote of the commission. City officials said the volume of applications reflected growing public interest in participating in municipal boards and advisory committees.
Mayor Javier Villalobos nominated Michael Statin and Saul Sanchez to the Airport Advisory Board; Alex Lamella to the Community Development Council; Donna Carla Golder and Millie Chilino to the Convention Center Advisory Board; Laura A. Villareal to the Disability Advisory Board; Cynthia Adame to Keep McAllen Beautiful; Gabrielle Kamel to the Planning and Zoning Commission; and Andrea Rodriguez to the Traffic Commission.
Commissioner Tony Aguirre nominated Anna King to the Airport Advisory Board; Cynthia Gutierrez to the Convention Center Advisory Board; and Nicole Aguirre to the Traffic Commission.
Commissioner Rolando “Rolly” Rios nominated Armando Salinas to the Airport Advisory Board; Luis Figueroa to the Building Board of Adjustments and Appeals; Andrea Rodriguez and Hiram Gutierrez to the Community Development Council; Eric Luevanos to the Disability Advisory Board; Eliseo Salinas to the Golf Course Advisory Board; Nathaniel De La Cruz to the Library Board; Brandon Lau to the Parks and Recreation Board; and Jeffrey Schmitd to the Traffic Commission.
Commissioner Victor “Seby” Haddad nominated Tyson Hannah to the Building Board of Adjustments and Appeals; Debbie Chavez to the Community Development Council; and Catherine Callaway to the Traffic Commission. Commissioner Pepe Cabeza de Vaca nominated Susan Driscoll Garza to the Disability Advisory Board; Jacqueline Pena to Keep McAllen Beautiful; and Matthew Myers to the Senior Citizens Advisory Board.
Commission Joaquin “J.J.” Zamora indicated he was still going the list of candidates to narrow down his appointments. The full slate of nominees was approved by the commission.
Other meeting business
Earlier in the meeting, commissioners issued proclamations recognizing National Burn Awareness Week and Engineers Week. Representatives from DHR Health and the McAllen Fire Department discussed burn prevention efforts and promoted a burn and fire safety outreach event at the McAllen Farmers Market.
During a public hearing, the commission approved several planning items recommended by the Planning and Zoning Commission, then tabled a conditional use permit request tied to a temporary AEP electrical substation installation near Buddy Owens after nearby residents raised concerns about location, aesthetics and the possibility the temporary facility could become permanent. Commissioners voted to table the request to allow additional outreach and discussion with affected residents.
The commission also voted to disapprove a proposed amendment to a planned unit development at 1300 S. 10th St. after city officials said the matter may be better addressed through an agreement amendment rather than changing the PUD ordinance.
In consent agenda action, the commission approved multiple grant-related resolutions, including applications for arts funding and cybersecurity grants, and later approved an engineering contract for drainage improvements along South Second Street near Byron Nelson, as well as easement abandonment ordinances and resolutions supporting tax credit subdivision developments.