The council was recently asked to add another $1 million in budget funds to the Recreation Center Project. In the process the real costs of the project were presented in a very misleading fashion. The state set a $20 Million dollar budget for us. The project is now stands at nearly $28 million. Here is an honest account of the funds.
|Sales Tax||$20.000||sales tax|
|Sales Tax +||$2.300||sales tax|
|General Fund||$0.995||property tax|
I was not willing to give the additional nearly $1 million in general tax resources. That would endanger our AAA rating and take funds that are used for police, fire, parks, road maintenance, library, and other needed services.
Instead I am proposing that the city come up with the $1 million by a different means. We expect the Senior Center to donate two downtown parking lots to the project. This is worth about $600k. The remaining difference can be made up by user fees, loans to user groups, or city contingency.
I am also going to ask for quarterly capital campaign reports from the Senior Center. If the Senior Center is financially unable to meet their obligations the council will reconsider tenant space. I requested Senior Center financial information and did not receive it prior to being asked to give $1 million.