07/23/1980 Meeting - Laserfiche WebLink

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, . c' Mr. Lieuallen asked if the $900,000 was the total bond-interest monies and was told that $253,646 was left in the fund. Mr. Smith indicated that it would be wise to leave that amount until the end of construction at which time it could pay for the items in the deferral list. . Mr. Lieuallen asked if there were other phases. Mr. Smith indicated that Phase 5 would be for $1.7 million and that they hope to value-engineer it in order to keep it at $1.7 million. Mr. Delay said the process as it has been going on has been working all right in terms of covering inflationary costs with some of the commensurate interest return on the bond. It is obvious that this is the end of the road. There is no ultimate control over how these final bids will come in. It raises the question of whether the City is in a position to finish the project in the way the commission feels it should be done, which is going to take more funds than are available. The community should be asked if it wants to finish the building as it should be or if they want to cut corners. It is a tough decision; no councilor wants to commit additional General Fund monies to the project. Mr. Delay said that he would like to take this decision to the community. Ms. Smith and Mr. Obie agreed with Mr. Delay. Mr. Obie referred to the list of deferrals. He said that they were not a list of niceties--acous- tical doors for $5,000 are a must in order to use the theaters at the same time. They will have to find the money--it is hoped from more "value-engineering" and other sources. The City is getting less than a performing arts center if it does not include the deferred items. The problem is serious. He urged approval of the recommendations. He asked staff to report on items council has not heard about--the whole range of e fees and the project office costs relative to the budget and relative to the expectations for the entire project--costs to date relative to the project and projected costs for the entire project relative to budget. That is one area that the commission and the council have not looked at, and,one at which they should be looking in order to feel comfortable about it. Mr. Smith said that he would honor Mr. Obie's request to the commission as well as to the council. Mr. Lieuallen moved, seconded by Mr. Hamel, to approve Recommen- dation 1 as attached. Roll call vote; motion carried unanimously. Recommendation 2--That bid alternatives included in June 26, 1980, bid opening be accepted or rejected as indicated in the attached. Mr. Lieuallen moved, seconded by Mr. Hamel, to approve Recommen- dation 2 as attached. Roll ~all vote; motion carried unanimously. 7/23/80--8 . ~. ~