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HomeMy WebLinkAboutRes2006-011 I I I Pulled from Agenda Sponsored by: Corbridge CITY OF SEWARD, ALASKA RESOLUTION 2006-011 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, ALASKA, AUTHORIZING ESTABLISHING THE SEWARD COMMUNITY LIBRARY/MUSEUM AGENCY FUND FOR THE PURPOSE OF ACCOUNTING FOR DONATIONS TO THE PROJECT WHEREAS, the City Council of the City of Seward passed a resolution funding the development of a Design Concept for a combined Seward Community Library and Museum in 2003; and WHEREAS, the estimated cost for design, construction and completion of the Seward Community Library Museum is $17.5 million; and WHEREAS, the City Council of the City of Seward directed the City Manager to create a Steering Committee to guide the project development and the fundraising efforts; and WHEREAS, the Seward Community Library Museum Steering Committee and its designees will be soliciting funds for the design, construction and completion of the facility until construction is complete or December 31,2016; and WHEREAS, it is the wish ofthe Seward Community Library Museum Steering Committee that the funds raised in these efforts be administered and held safe by the City of Seward Finance Department; and WHEREAS, donations contributed to the fund will be used for the construction of the proposed Library/Museum Facility, with said donations to be handled as directed by the donors at the time of donation, if said facility is not constructed by December 31,2016, as follows: 1) donations will be refunded directly to the donor without accrued interest, if said facility is not constructed by December 31, 2016, 2) donations will be contributed to the Seward Community Library without accrued interest and held in reserve for future library and museum capital projects as directed by the Seward City Council, or 3) ifno other direction is given by the donor, donations will revert to the City's undesignated fund balance account in the General Fund, without further reservation or designation. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SEWARD, ALASKA, that: Section 1. The City Council ofthe City of Seward authorizes the City of Seward to establish and administer the Seward Community Library Museum Agency Fund. Section 2. Donations to this Agency Fund will be handled as directed by the donors at the I CITY OF SEWARD, ALASKA RESOLUTION 2006-011 time of donation, if said facility is not constructed by December 31, 2016, in the following manner: 1) donations will be refunded directly to the donor without accrued interest, if said facility is not constructed by December 31, 2016, 2) donations will be contributed to the Seward Community Library without accrued interest and held in reserve for future library and museum capital projects as directed by the Seward City Council, or 3) if no other direction is given by the donor, donations will revert to the City's undesignated fund balance account in the General Fund, without further reservation or designation. Section 3. This resolution will take effect immediately upon adoption. PASSED AND APPROVED by the City Council of the City of Seward, Alaska, this 23rd day of January, 2006. THE CITY OF SEWARD, ALASKA I Vanta Shafer, Mayor AYES: NOES: ABSENT: ABSTAIN: ATTEST: Jean Lewis City Clerk I Council Agenda Statement Meeting Date: January 23, 2006 To: Clark Corbridge, City Manager From: Patricia Linville, Library Director Agenda Item: Resolution to establish Seward Community Library Museum Agency Fund BACKGROUND & JUSTIFICATION: The intent of this resolution is to establish an agency fund named the Seward Community Library Museum Agency Fund within the City of Seward Finance Department to accept and safeguard the money raised for the project. In July 2003, the City of Seward passed a resolution funding the development of a Design Concept for a combined Seward Community Library and Museum. The new Seward Community Library and Museum will be a 39,618 square foot, ADA accessible, multi-purpose facility designed to allow both organizations to better meet current needs for effective program and service delivery, and to accommodate anticipated growth. Housing these two organizations in one facility enables more efficient access and operation for the citizens of Seward and visitors. Estimated Project Cost The Seward Community Library/Museum project is estimated to cost $17.5 million. Construction cost $13,000,000 (+3% per year after 2005) Administration and Design $ 1,500,000 Furnishings and Equipment $ 1,000,000 Construction Management $ 400,000 Contingency $ 1, 600, 000 The Council has directed the city manager to form a Steering Committee to guide the progress of the project as well as fundraising activities. Seward Community Library Museum Steering Committee and its designees will be soliciting funds for the design, construction and completion of the facility until the project is complete or December 31, 2016. It is assumed these funds will be generated from within the local Seward community, from municipal, state and federal grant programs, and from corporations and foundations both in state and nationwide. Donations to this Agency Fund will be handled as directed by the donors at the time of donation, if said facility is not constructed by December 31, 2016, in the following manner: 1) Donations will be refunded directly to the donor without accrued interest, if said facility is not constructed by December 31, 2016, 2) Donations will be contributed to the Seward Community Library without accrued interest and held in reserve for future library and museum capital projects as directed by the Seward City Council, or 3) If no other direction is given by the donor, donations will revert to the City’s undesignated fund balance account in the General Fund, without further reservation or designation. CONSISTENCY CHECKLIST: Where applicable, this agenda statement is consistent with the Seward City Code, Charter, Comprehensive Plans, Land Use Plans, Strategic Plan and City Council Rules of Procedures. Other: _______________________________________________________________________ FISCAL NOTE: The Seward Community Library Museum Agency Fund will be administered by the City of Seward Finance Department for the duration of the fundraising effort. It is estimated that effort will continue until the required amount is raised or until December 31, 2016. RECOMMENDATION: The Seward City Council approve establishing the Seward Community Library Museum Agency Fund within the City of Seward Finance Department.