Item 5 - Res./Bond Measure - Laserfiche WebLink

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Finance Plan - Option A+ Option A+ General Obligation Bonds $6,790,000 Limited Tax Bonds -- Facility Reserve 11,395,000 Telecommunications Funds 1X$ from Settlements 10,200,000 On-Going Telecom Funds 788,000 ROW Revenues in General Fund 5,200,000 Sale of Assets -- Urban Renewal Agency Funds 750,000 Interest Earnings on Cash Balances 750,000 Other Miscellaneous Sources 50,000 Totals $35,923,000 Operating & Maintenance Costs Although not part of the plan for financing the capital costs, it is important to include the esti- mated operating and maintenance costs for the new building. The preliminary estimate of the ongoing O&M costs for Option A+ is about $1.2 million. About half of the O&M cost represents daily building custodial, energy and other out of pocket costs for operating the building. The other half represents the longer-term preservation of the building, which includes preventive maintenance funded by facility maintenance rates and building preservation projects funded from the General Fund capital budget. The social service agencies would pay lease costs equal to the O&M on their space, so there would be partial funding for the added cost. Given the City's structural budget imbalance, there is no obvious source of funding for a new on-going commitment of General Fund dollars of any net increase in O&M costs, however. If the council decides to authorize construction of this project, and assuming no change in the health of the General Fund, a future year budget process may have to reallocate existing General Fund dollars to the net increase in O&M on this facility. L:\CMO\2004 Council Agendas\M040726\S0407265.doc