Item A: City Hall Next Steps - Laserfiche WebLink

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ATTACHMENT B Potential City Hall Funding Sources Facility Reserve: The City has been saving money for several years towards replacement of City Hall. The estimated balance in the Facility Reserve in FY12 will be approximately $6.5 million. Telecommunications Tax Funds: The City’s telecommunications tax could be used to pay for new City technology related projects and purchases, such as installing fiber to the site, purchasing and installing telecommunications equipment, and so on. An initial estimate of the amount that could be available for this project is $2 million. General Capital Transfer: The City could dedicate a portion of the capital transfer from the General Fund to the General Capital Projects Fund. This fund is for major maintenance of all general City buildings. Although City Hall represents a significant portion of the total square footage and deferred maintenance of City buildings, very little of the General Capital Transfer has been used for City Hall since the decision was made to stop investing in the building while a plan for renovation or replacement was developed. A portion of those funds could be dedicated, either for one year or for a period of several years, to assist with some of the renovation and/or construction costs for the new City Hall. Energy Incentives: This project will most likely qualify for funding through the Business Energy Tax Credits program and EWEB energy incentives. The amount of such incentives will be firmed up as the project is developed, but an initial estimate is that between $50,000 and $100,000 might be available. Grants: There may be funds available for the project from grants. Other Miscellaneous Funds: The City should continue to look for opportunities to set funds aside for this project, including any one-time dollars that are identified over the next few years. An example would be dedication of a portion of the Marginal Beginning Working Capital, if available, or the sale of assets.