Laserfiche WebLink
Capital Improvement Planning -June 11, 2001 <br /> <br />The City and the YMCA are considering the construction of facility <br />that would contain fitness, recreation and meeting uses. No <br />programming or design for this facility has been undertaken. <br /> <br />A timetable for the project has not been determined. Financial <br />feasibility for the City and the YMCA will be a driving force. <br /> <br />Initial planning suggests that the City will contribute one-third of the <br />cost. The current estimate of the City share is $3,000,000. This <br />amount is likely to change as project planning continues. <br /> <br />Cash and bonds. <br /> <br />No specific funds are currently earmarked for community center <br />facilities. <br /> <br />The use of cash for the YMCA will create financial implications for <br />other facility projects. <br /> <br />Debt for this facility could come from voter-approved general <br />obligation bonds or lease revenue bonds. <br /> <br />Revenue to support the debt could come from property taxes, landfill <br />surcharge and liquor fund. It is likely that the allocation of revenues <br />to the YMCA/community center will impact other projects. <br /> <br /> <br />