At the City Council meeting on February 21, 2017, staff presented the Library and Arts Center building programs, project costs and funding options. The City Council approved the recommendations brought forth by city staff for the new Library and Arts Center. The four directives are:
- Directed staff to move forward with the architectural design of “Option C,” comprised of a library (approximately 45,000 GSF), an arts center (approximately 13,500 GSF), and surface parking;
- Concured with staff’s recommended approach for financing the Library component of the project, which is based on the previous direction received from the City Council on April 5, 2016;
- Directed staff to refine the funding options for the Arts Center and report back to Council at a subsequent meeting; and
- Directed the Finance Department to issue a request for proposals to hire a financial advisor to assist the City with the issuance of debt for the project.
To view the presentation that staff presented, click here.