11/30/1988 Meeting - Laserfiche WebLink

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e to future development of the project. Ms. Wooten said she is not suggesting that the council discontinue support for the project, but that the withdrawal of the developer provides a good opportunity to explore how to proceed with the project and whether it is a wise use of the City's resources. Mr. Bennett said he does not mind reviewing the City's total investment to date, but feels infrastructure development should proceed with or without a developer. III. WORK SESSION: LIBRARY FINANCING PROPOSAL (Pat Decker, Planning Department, gave the staff report) She said a number of questions were raised at the November 22, meeting of the Council Committee on Library Financing (CCLF). Committee members decided to get input from the balance of the council at this meeting.( Ms. Decker said the major questions raised at the last CCLF meeting were whether the council wished to finish 100,000 square feet of the library or only 75,000 square feet, and the relationship of library financing to funding in the current operating and capital budgets.) Mr. Gleason reminded councilors that the capital budget for the current fiscal year was cut approximately $850,000 from the original forecast. The six year Capital Improvement Plan (CIP) currently being proposed is $2 million for FY90, $2.3 million for FY91, and $2.4 million FY92. Mr. Whitlow distributed a list of projects proposed in the $2 million budget forecast for e FY90. Mr. Gleason reminded councilors of the difficulty they faced in reducing spending by $850,000 last year to balance the budget. Mr. Gleason said the most recent six-year General Fund forecast projects a $1 million shortfall per year. This does not take into account changes that have occurred since the forecast was made, including $200,000 for the failed library levy, $400,000 in wages, $150,000 in urban wetlands issues, and $50,000 in emergency housing. Mr. Gleason said the possibility of cutting between $200,000 and $400,000 from the operating side of the budget has been discussed. He said that such a reduction would be possible but extremely difficult. ~ayor Obie said this issue is before the council because Councilor Rutan proposed that funds be taken from both capital and operating sides of the existing General Fund to finance the library.; Mayor Obie said the committee felt this would be a very difficult solution to funding the library because it would require a complete shift in priorities. The committee did not feel comfortable speaking for the council, however, so is now asking for council input. Mr. Miller said one funding option under consideration is the use of tax increment money generated by the building itself to help develop the library shell, and to use other tax increment money to help finish the library. He said if the library can be constructed using solely tax increment funds, e MINUTES--Eugene City Council November 30, 1988 Page 8