ITEM TITLE:
#20-25 - Waiving Interest and Late Payment Fees for Harbor Services and Lease Payments
SUBMITTED BY: Brian Carlson, Finance Director
FISCAL NOTES:
Expenditure Required: n/a
Unencumbered Balance: n/a
Funding Source: n/a
RECOMMENDATION:
Approve
SUMMARY STATEMENT:
• This resolution effectively establishes a payment deferral by waiving late-payment fees for Harbor services and lease payments.
• There is no expenditure associated with this interest-charge waiver
• Staff estimates foregone revenue of $2,000-$3,000 if late-interest fees are waived for the entire year.
• As with the previous waiver for utilities and refuse fees, staff will provide an update to council in June, and will seek direction regarding continuing, rescinding, or expansion of the waivers.