04/02/1980 Meeting - Laserfiche WebLink

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( this motion. $1.9 million of the interest income has already been com- mitted. The additional funds needed are $675,000. The change in the motion was to recommend that the interest of $675,000 be used for con- struction costs. He asked staff to prepare a report for the Eugene performing Arts Commission and the City Council to outline additional cuts on a priority basis for future use. -This project was supposed to have been built for $18.5 million, and that will not be the case. - Mr. Delay stated it is unfortunate that costs keep escalating, but that fact is not unique to the Performing Arts Center. In terms of the $18.5 million bond, he believes that it is sound fiscal management to invest that money and use the interest. He had never believed that the City could say the center would be built for $18.5 million; rather, he believed that it would be built with an $18.5-million bond levy. No matter how much the interest rate goes up, it will not affect the tax levy. We are trying to take advantage of an unfortunate situation to try to cover inflationary costs. We will run out of interest income before we run out of increased costs. ( :Mr. Smith stated, in regard to coming back with potential cuts, that $2 million in cuts have already been made. He distributed a list of those to :the council. These cuts were relatively easy to make without sacrificing the artistic quality of the building, but future cuts would be more diffi- cult future cut proposals will be brought back to the council for review. ,Mayor Keller stated that a joint meeting between council and the Civic Center Commission would be appropriate to look at problems or resolutions to those problems. e Mr. Obie moved, seconded by Mr. Lieuallen, that an additional $675,000 be allocated from the bond interest fund to the Performing Arts Center, and that staff provide reports as previously dis- cussed. Roll call vote; motion carried unanimously. Ms. Smith moved, seconded by Mr, Lieuallen, that the Council approve awarding the contract for the base bid for Contract 6 to the low bidder, R. A. Chambers, in the amount of $6,400,000, and the amount of $196,000 for Alternate 1. Roll call vote; motion carried unanimously with Mr. Obie abstaining. Mr. Obie moved, seconded by Ms. Smith, that Eugene Renewal Agency be requested to take responsibility for the Willamette Street Arcade. Roll call vote; motion carried unanimously. VI. VEHICLE INSPECTION/MAINTENANCE PROGRAM--INFORMATIONAL (memo distributed) Ms. Smith moved, seconded by Mr. Lieuallen, to authorize Councilor Miller, through the Metropolitan Area Transportation Committee, to request the L-COG staff to work with DEQ, Motor Vehicles Division, and the City of Springfield in order to develop the appropriate enabling State legislation and budget appropriation needs. ( e 4/2/80--12