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<br /> <br />S.S.A. <br /> <br />MEMORANDUM <br /> <br />TO: <br /> <br />Mayor and City Council <br /> <br />FROM: <br /> <br />Pat Klaers, City Ad~,~~i~~r;'tor <br />j / /J/~" ..is,",./ <br />,..1/1 ,~."A.'.,~'( .... . I.f... c..//.?,ii /1 )i'; /'" <br />J tlf . \,r lA.,I,;/ "'-- <br />August 8, 2005 i" l ,:t <br /> <br />DA TE: <br /> <br />SUBJECT: <br /> <br />Library Project <br /> <br />Tllere l1a\re been a number of questions raised regarding \vllether or not city financial <br />participation in a Y1vICA building \vill impact other projects tllat are in dle Capital <br />Impro\rement ProgralTI (elF). Specifically this question was direct to\vards the proposed <br />2007 Libra1~Y project. <br /> <br />There is no question that additional Library space is needed. J.\ report and recommendation <br />\~vill be coming to the City Council at a later date regarding Library space needs and \vhat <br />type of project sllould be considered. This memo is intended to re,rie\v ho\v the city could <br />finance a Library project. <br /> <br />The Library project is in the CIP at $1.5 million with the monies to come from tlle Library <br />Reserve and dle Government Buildings Resenre. Both these Reserves receive dleir money <br />from the Landfill Host Fee. <br /> <br />The Library Reserve started 2005 \vith a balance of approximately $320,000. This Reserve <br />should be about $450,000 by the time the project begins in 2007, assuming that no <br />significant expenditures take place for sucl1 things as demolition of the Bailey llouse and <br />expansion of the parking lot. <br /> <br />TIle Gov'ernment Buildings Reserve began 2005 ,vith a balance in excess of $1.1 million. <br />Re\lenues o,rer the next t\vo years are anticipated to approacll $1 million. The Street <br />Department anticipates needing approximately $750,000 in 2005 and 2006 for external and <br />internal projects at dleir facility. There will also be some smaller miscellaneous building <br />related expenditures that \vill need to come out of this reserye over dle next fe\v years. <br /> <br />If \ve spend all the monies in both these reserve funds in 2007, we sllould have about $1.5 <br />million for the Library. Ho\vever, if a ne\v Library facility is built, and this includes <br />impro\rements sucll as parking lots and landscaping (and some community r001TI space in <br /> <br />s: \ Counci1\Pat\2005 \ \\iorksessions \LibraryYj\fCA.doc <br />