YMCA Funding Discussion
•Direction at the City Council meeting of April 23, 2024 to agendize conversation. •Prior Council action: Waiver of payment of City fees amounting to $296,081. •Requested amount for consideration: $1,000,000 over 3 years. •YMCA Funding:
•Project Total: $20,682,065
•Total Secured: $12,343,294
•Funding Gap: $8,338,771
City Project Funding –CMSC Expansion
•City Space Center Expansion Project also needs funding •City Project Funding
•Project Total:$34,000,000 –Phase 1(Building and Shuttle Restoration) •Total Secured:$13,500,000
•Funding Gap:$20,500,000
Potential Solution
•If interest in proceeding, Staff recommends annual consideration of $333,333 •Unknown conditions within each future year budget
•Not an operational expense but allocation from onetime projects. •City Hall Renovation Project current balance: $2,891,116. •YMCA Facility: $333,333.
•Space Center expansion: $333,333.
•Show importance of both projects.
•New renovation budget: $2,224,450 –adequate for current needs.
Staff Recommendation:
•That the City Council:
•Discuss and provide direction to staff regarding funding for the YMCA and Space Center Projects.