Tuesday, October 6, 2009

Financing Options for Appleton's Library Project

Link to October 6 Appleton Post-Crescent article, "Panel awaits Appleton's input on library financing options".

Excerpt: Elizabeth Witek, a library board trustee, was frustrated by what she saw as a bid by city leaders to scale back library expansion proposals submitted by two private consulting firms.

Witek said she is concerned a reluctance to fully address the library's space shortages and outdated design features will force the city to deal with the costs for another major library investment soon after the next is complete.

The studies by private consultants each determined the library's needs, she said. "They didn't pull these numbers out of the air."

Yet, city finance director Lisa Remiker noted the consultants' recommendations must be viewed in the context of the city's ability to pay for them. Remiker noted $10 million in borrowing will cost city taxpayers about $900,000 per year for 20 years at current lending rates, $18 million in all. She also noted the potential use of the existing library will be a major consideration if a new one were built.

And who is this Terry Nichols guy? (How can you not get this right, Ed?)

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