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Option A Option B Option C1 Option C2 Option D GO Bonds -- $12,620,000 $22,050,000 $47,775,000 $70,820,000 Internal Funds $28,186,000 29,133,000 29,200,000 3,715,000 40,649,000 Total Funding $28,186,000 $41,753,000 $51,250,000 $51,490,000 $111,470,000 Taxpayer Cost - 1 st Year -- $26 $45 $97 $144 Net Direct Debt - 1st Year 0.4% 0.5% 0.6% 0.8% 0.98% In addition, there will also be increased operations and maintenance cost for the facilities. Pre- liminary estimates range from $1.1 to $1.7 million annually for the Community Safety facility and $3.0 million for City Hall, depending on the size of the facility. There will be some funds available to offset the increased O&M costs. It might be necessary, however, if there are no sig- nificant changes in the fiscal health of the General Fund, to reallocate General Funds to pay the net increase in O&M when the facilities are complete. Other Background Information The Mayor's Committee presented a set of proposed policy principles for the council to consider as Civic Center development decisions are made. The council requested that public input be so- licited on the policy principles before adopting them. The public hearing was scheduled for July 12 and the results of that public hearing were not available at the time of writing this staff summary. In addition, a public open house was scheduled for July 8. One of the significant decisions that must be made regarding the Civic Center development is the site for the new Community Safety Building and City Hall. The Mayor's Committee recommend- ed City Hall be redeveloped on the current site, with the Community Safety Building across 8th Street in the City-owned parking lot. Attachment C includes other options from the Charette. Timing The council will discuss the Civic Center plan on July 14. Continued discussion of a November ballot measure will occur on July 21. If a financing plan is adopted that requires a bond measure, the council will need to take final action on a resolution by August 9, 2004, to place a measure on the November 2004 ballot. The council agenda includes a meeting on July 26 for this purpose. There are two advantages to placing a measure on the November ballot: 1) the project can begin at an earlier date, which will reduce costs; and 2) the election requires a simple majority. Taking no action would mean that the Police would remain in a building that does not meet seis- mic requirements for essential service facilities. The current space occupied by the Police is about 35,000 square feet, which is less than adequate for current operations. The council has specifically directed that the basement area vacated by the FEU/PCU units not be reassigned for staff use, due to the working conditions and seismic risk. OPTIONS There are three decisions asked of the council. There are two options for the pohcyprinciples: Option 1: Adopt the policy principles as proposed by the Mayor's Committee. Option 2: Adopt a revised set of policy principles as defined by council. L:\CMO\2004 Council Agendas\M040714\S040714A. doc