Item A - Civic Center Visioning - Laserfiche WebLink

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Sources of i:unds General Obligation Bonds: The City could ask cost for downtown City office l'acilities. The voters to approve a property tax levy to repay annual charge is deposited into the City's Facility general obligation bonds. Under Measure 50, a Reseiwe. bond measure would be subject to double-majority requirements, which includes an exception if the Net Freed-L~ Lease Payments: If sections of bond election is held at a November general elec- Public Works that are located in private lease fion in an even numbered yeah GO Bond proceeds space are moved into City-owned space, the cannot be used for furnishings and equipment, annual amount that is paid in lease payments (net of the operations and maintenance costs on the Other [lorrowit[g ]kIethodg: If the City had a new space) could be re-directed towards debt ser- dedicated revenue stream to put towards this vice payments on bonds issued for the new space. project, other borrowing methods could be used. Attachment C includes a summary of the alternate Rate Increases for Services Housed in City borrowing methods that might be available for a Hall: Those services that are rate-based, such as large construction project, stormwater, wastewater, and so on, could increase their rates to contribute fnnds towards annual debt Capital Lev3,: The City could ask voters to service payments on bonds issued to construct a approve a capital levy of up to 10 years to pay for iproportionate area in the new City Hall. the costs of capital construction. The levy would exacerbate Measure 5 compression in the General Se~,ice Reprioritization in the General Fund: Government category of taxes and cause a loss Services in the general fund could be reprioritized of taxes levied fbr the library and youth/schools to dedicate a portion of the resources towards programs. In addition, the funding would come annual debt service payments on a civic center or in over time, rather than up front when capital police facility. This will probably need to be done construction is occm-ring. For those reasons, this in order to pay for higher operating and mainte- option seems undesirable, nance costs on the facilities too. Facility Reserve: The City has been saving CDBG Non-Profit Grants: CDBG funds could money for several years towards construction of a be used for leasehold improvements on any space new civic center, including a police facility. The built into the project for the provision of social ser- current balance in the Facility Reserve is approxi- vices by non-profit entities. The amount available mately $6million. would be fairly small, and would include some significant restrictions on the use of funds. Capitalization Charge for Downtown City Offices: General City. office space in the down- Homeland Security Grants: There may be funds town area pays a capitalization charge that's available for public safety puqooses from ttome- meant to help offset a portion of the replacement land Security grants. Civic visioning Committee - Report and Recommendations June 2004 Page